Fourth-quarter revenues will be above expectations for point-of-care ultrasound developer Butterfly Network, according to preliminary results.
The company expects that revenue in the fourth quarter (end-December 31) will range from approximately $17.9 million to $18.9 million, representing an increase of about 14% to 21%. Butterfly anticipates that 2021 revenue will range between $61.5 million to $62.5 million, up approximately 33% to 35% from 2020 revenues. Butterfly had previously issued revenue guidance in the range of $60 million to $62 million for 2021.
In other news, Butterfly has inked a deal with the University of Rochester Medical Center for an enterprise-wide deployment of its Blueprint ultrasound platform. The institution is expected to begin rolling out Blueprint this summer and begin providing handheld imaging units this fall to second- and third-year medical students, primary care providers, and home care nurses.
In the future, URMC and Butterfly plan to pursue multiple research projects involving image analysis, artificial intelligence (AI), and clinical pathways. What's more, they will focus on education and curriculum for point-of-care ultrasound, creation of encounter-based workflows, development of best practices for deployment, infrastructure integration, compliance, quality assurance, and 3D procedural guidance, according to Butterfly. The agreement marks the firm's first enterprise-wide contract.
