Shares of medical equipment manufacturer Butterfly Network gained 19% after the report.
The compact ultrasonic scanner Butterfly Network Inc. (BFLY) manufacturer presented preliminary results for the fourth quarter and the whole year. The news supported the company’s quotes, which rose by more than 19% to $7.55 at the auction on January 11.
On Tuesday, January 11, Butterfly Network management presented its revenue forecast for the fourth quarter and the fiscal year 2021 the fourth quarter to be between $17.9 million and $18.9 million, and payment for the entire year will be in the range of $61.5 million to $62.5 million. It should note that investors were encouraged by this news because its management had previously lowered its revenue forecast. In addition, butterfly Network also confirmed that the University of Rochester Medical Center (New York, USA) would deploy its Butterfly IQ+ compact scanner in its corporate clinical segment.
It is Important news for a company that is just starting to promote its innovative device. The more doctors use Butterfly Network devices, the more likely it is that the company will create long-term customers for its products. Recall that Butterfly iQ is a compact ultrasound scanner comparable in size to an electric shaver. It can be connected to a smartphone or tablet and used in everyday clinical practice in a hospital, on field trips, and even in the field, for example, on ships or oil and gas platforms.
The company plans to sell its device together with a software subscription. Butterfly Network has developed plans for individual and corporate clients. The company expects increased demand for such compact scanners, as more accessible access to modern medical imaging has a high clinical and social value.
