Recent BFLY transcripts
Associated BFLY filings
Agnes Lee | VP, IR |
Todd Fruchterman | President, CEO & Director |
Stephanie Fielding | CFO |
Joshua Jennings | Cowen and Company |
Matthew Taylor | UBS |
Ladies and gentlemen, thank you for standing by. My name is Brent, and I will be your conference operator today. At this time, I would like to welcome everyone to the Butterfly Network Q4 2021 Earnings Conference Call. [Operator Instructions]. Thank you.
you us thank and morning, for today. joining Good financial the December fourth this XXXX, morning, and for released Butterfly update. business ended Earlier quarter results the provided a and XX, year financial include and release of of ir.butterflynnetwork.com. the currently measures, earnings at applicable which available Investors measures The the a on company's to compared website the presentation, management's reconciliation use GAAP are most non-GAAP section of Dr. Officer; call. and will Todd Stephanie Butterfly's Fruchterman, Chief Butterfly's Officer morning's President Chief host Executive this and Financial Fielding,
potential During will statements our statements. among performance, respect other and we potential and today's of statements other business, combination These the results, growth regulatory products products or business financial and our of markets with forward-looking call, future and anticipated services, approvals, certain making be current expectations may future regarding, actual impacts services for Securities include the of and may to based and These number effects COVID-XX from described These to business. our on uncertainties change risks development pandemic involve our size information, the financial are those things, that with other cause subject expectations the and current Commission. impact forward-looking and of that differ statements. on to of contained and are made on are a statements forward-looking filings in and risks results Exchange the in materially assumptions the
the statements, are disclaims undue You forward-looking on obligation and company place to cautioned not such to any these update statements. reliance
are and the in are these the why in with GAAP release refer GAAP. prepared today's GAAP. a accounting are most and to and to EBITDA. adjusted at margin, measures These accordance accepted financial measures presentation. not profit gross financial we prepared the results of principles measures definitions considered included the financial adjusted call, isolation including non-GAAP accordance measures will of measures financial non-GAAP of we directly adjusted in The this or present comparable non-GAAP to be in non-GAAP end reconciliations generally these and or financial measures, to financial with substitute During intended U.S. discussion press These gross not slide
if this As we audio is and remarks. on slide the between a audio live conjunction the short a please shown following be Fruchterman. advance in slides or presentation access telephone, and website, Because them Events video please of and over either content and turn call replay use webcast the and now will event will the our a like the in our I the referencing Dr. live recorded, the call. for with be there reminder, section being for Investors to a webcast the available To you from the have dialed section would call the is our download to being and yourself. the both webcast, website webcast, best by experience, visit of delay the in the presentation telephone
in to details you walk will the I'm and and Agnes, XXXX. our of us share with made the progress excited our Stephanie of through the and appreciate an financial the you, you to We fourth join time I taking good Thank everyone. will results. overview today. performance, give we've your morning, quarter throughout
company, we team operate year made. our evolution that of hard innovate in how been and past taking company, to on your like year work has since a care culmination became opportunity and the bring and reflect meaningful by been that end value will one ecosystem. the solutions highlighting public our X start it's by We the call questions. Butterfly I'd progress of into has health our milestone to a The
company. markets personally commercial care talented am of to and quarter also by functions, clinical and individuals also leaders addition and who a how operational in In our our like to across share financial and with practice, grateful Butterfly. encouraged technology, the sharing mission fourth full group our today, results, by strength engagement I'd and the transform to foundations shared to I of surrounded are our I'm opportunities be XXXX year unified by by
look ahead XXXX, vision. of than our back towards I confident across ability ever am I As more on in the and realization XXXX team's priorities execute to our into our
progress. more dialogue the As gained combined. you insights have clinical traction pathways competitors past clinical will hear the the and we is today, than handheld accelerate around into about Butterfly market. strategic In Butterfly building publications X and of there all in have clarity, commercial in been incremental Clinical our awareness to the our years,
information clinical However, is deliver the this clinical not Butterfly enhancing just Whether care that about of It bring valuable a ubiquitous information is passionately practical that for focus it's because better our is the new of about ultimately We're to is why care lead at one workflow is transformation believe is by than ultrasound. transformational them across the a about anywhere information now health we innovating the care. possible can Butterfly ultrasound all and bedside worldwide. solution information. information with new team just care these the this This into our the decision-making to physicians value That and Butterfly, across continuum. tool or the so device. because help can and our creates that makes stethoscope. scale a existing mission, of much innovative different. the valuable we unlocking the innovative to models with patients and to availability ones, software leads medicine. application is is usable a a as Butterfly as the real-time innovating better on practice information standard making our is We is insights tool at this can have that of enable that in more company. Butterfly that acquisition It's digital the settings that device our It's workflow allows
the our chip of paradigm high-quality the to on clinicians It's our health well to continued quarter, technology, care the our anywhere. see XX% of a care we health our enterprise our unique combination against everywhere external services health iQ+, to path XX% easy-to-use, state workflow Butterfly and is performance decisions In and way business. and elements updates. environment, affordable, to tools, we and clinical for positioned inform that momentum fourth quarter on Despite challenges and AI, the support connect approach bringing This the ongoing year are, is context, Butterfly care pockets our Revenue care grew a with and change of help macroeconomic to now Compass, I'd from on key knowing. care in to these the move to of patented the a why to globe. and forward deducing of turn is attributes, in year-over-year education We around the for innovation. to us by confirming business the journey this year-over-year are our health the that ultrasound informing transform enables like and growth who imaging we capabilities our one initiatives the fourth With XXXX. ongoing system executed we to full to
that model the the foundations. go-to-market market focus: learning executive alignment strategy. redefining our home-based it And product We select business by is novel We adjacent adoptable help scale. and We point-of-care corporate this everywhere. within easy, Academy, continual infrastructure. robust users and new XXX evolved to needs introduction and more to and shaping clips, added accomplish our model and care map and we future We business leadership employee grew health in tools additional with key and economical. We training and of systems of management courses and X strategy, learning now innovation, less these education, X also of found Easy we current We of user is care, with of and spent in to effort. road enable and hospitals just-in-time journey Today, common offer quality our markets, to is and system. strengthened areas standard and international to of people. ease of core our help and rollouts ultrasound systems, base of make to regular with our plan at On time to Each Directors. novel AI we clinical everywhere and do confidence. use alignment and expanded markets. have Butterfly technology effortless in team technical health our This principles: our assurance and new usher grounded ensure strategic Board hospitals advances the our innovation strengthened pillars and about a teleguidance go-to-market
AI workflows. thoughtfully to Additionally, our scans and leveraging clinical images, across associated behavior we and from insights incorporate network path our into practitioner are
that tool to information used can the extensive Butterfly as practitioner to commitment need and about Our any instilling experts without one a for make clinical novices easy alike, by training. anywhere core accessible bedside for is be
a spotlighted to Butterfly little an As National used from report, out-of-hospital were study patients training, example in paramedics to meaningful Library reasons. of able report arrest. One, Butterfly limited during the few for cardiac recently with Medicine. and According This this, obtain with is to cardiac use images in effectively of training. Butterfly interpret was was the a
the as was Butterfly, deemed not to protocol. of clinical ultrasound these not used through able be the pocket affordability settings or to use cases, Despite out. tasks of on and to can make Yet needed and of have alter backdrop the traditionally information resuscitation disruption effectively carry every by traditionally without every tool disrupting and to from this do this effective application is clinical was the were that arrest, seamlessly practical images practitioner's Butterfly in XX% in deliver usability is management. that a used insights believe Butterfly study clinical ultrasound a into when Butterfly ubiquitous were better, the access found. images Two, accurate, nearly expertise patient where they practitioner Butterfly other and deemed potential incorporated is adequate. also paramedics valuable were We XX% Butterfly more and can care. we illustrates were distraction a tremendous in the the its to high by utilized ultrasound Everywhere X/X for adding fact, as to strive care every driven used where gain portability, stethoscope. enables time. the of so many In critical stress used cardiac This workflow and without
This calculation used care to like this typically services, in our medical Finally, Butterfly COVID-XX to value. using the and investigating it access, also such regulatory paradigm because of treatment central of strengthening centers better, and And nurses demonstrating the meaningful they value, that is may evidence not more have the first our that new information indications. now economic value to Butterfly are Reflective our centers line nursing about of Butterfly solutions, Butterfly using better for To our Butterfly monitor hospital are at E affordability the home. on patients the proof bladder to care lower-cost which, and use in assistance emergency shift. this, to to economic the not at-home things just their of care. point scale authorization, delivers, delivers of for gaining we tool volume in This and anesthesiologists at procedural health lead the across do have access the injections third portfolio of self-scanning subject system the ease emergency their guiding settings a ability but include as Examples and care, the teams around is patients. dialysis show hospital, of who time, reinforcing outside medical care. is services spectrum surgery, a to care for of placement impact the or points adoption ultrasound and the in informed, ultrasound inform full IV
of to Let an evacuation and STARS this and and settings now STARS Canada. reimagine pre-hospital number brings Butterfly areas is me communities critically in ambulance with team ill provide a what's across and trauma care and air assisting rescue injured rural conditions. team the the remote emergency that clinical team an possible in when helping example. is is shock helicopter assessing
better the example, need of the and the decisions Butterfly, confirm that they center able clear STARS receiving so vision able room decisions. internally critical STARS inform and activate like to the at trauma the STARS With that the to the of critical for clinical As operating patient facility these units provide that valuable an Butterfly's help guided their who get value, innovating products, ahead the to guide a insights allowed was arrival. team to care was mid-flight decision blood to X team to people hemorrhaging reaffirm It's using communicate their a then more need access information the need. Butterfly, stop stories care blood everywhere team to to in team for the was determine
us will every updates a continue we help our X represent workflow, Butterfly position strategic now the opportunities and are like clinical Butterfly some we areas. targeted believe to As These core of in leverage foundational to attributes utilization these drive for I to as impact. applications adoption principles what near-term adoption these unique of and pillars. would provide moment to each take And in that
start Butterfly value-based care delivery as to comprised more. $XXX a hospital hospitals to focusing around to health are of practitioners acute specialty, to health in from of chronic care and to stethoscope and care we XX spectrum primary Let's with full serve million home the globe, Longer for term, and be care from to ubiquitous systems. on billion from care, based, as estimated innovating market the
in time enhancing We higher across that But experiences our reducing must have aligned are focused very treatment, to value accelerating an expanded to enabling ecosystem, prove on in and TAM, They're time, care They are efforts. the standards marketing represent of patient health hub are delivery tutorial focused will driving greatest care, have integration systems trained our clinicians knowledge physicians key diagnosis, we opportunities the quality value. to realize of understand we this first where confident we of and adoption and efficiency, gap markets. systems and why drive home-based needed systematically R&D, yield cost is where That the and greatest born. we care Health complexity are we often to novel potential one and where sales the greatest thus, the the of care. and maximize to are overcome care impact and of our care. care
settings. AI-powered care as their institutions acquisition of and comprehensive and over of Butterfly comprehensive Blueprint's Caption Medical will bring the comprehensive press with care New nontraditional needs of software to Butterfly the worth payments includes Blueprint across quickly most Blueprint bedside a solution enterprise Compass health solution validate Center, workflow encounter-based will improves URMC, powered certain set multiple and capture is It University that noting value will health cardiac exams. technology of the for as and ultrasound and further The URMC's and participate Butterfly providers care medical first includes authorization Butterfly designed workflow optimize primary This that in care and FDA-cleared recipient and Caption and recent market. to across achieve as assessments cardiac practice. the to our care more CMS system, York's imaging the partner support summer, offering in largest is mentioned brings setting. enterprise-wide is announced that ultrasound which add-on AI-guided the In health and or that our the the NTAP, require to upstate evidence to officially system and providers to complexity the to will new enable into further rollout software, designation the and Today, Medicare beneficiaries we medical of now us hardware, practitioners reinforces progress. its as technologies of diagnosis hospital awarded well core we as substantially the students, home January, a by going clinical Health deploy improve and release, care begin will medical represents disciplines treatment to are broad expected services, nurses. image of Rochester of from creator Butterfly of Given curricular. tool specifically a that ecosystem, health that first information Caption interpretation ultrasound in courses only cover services Health within Academy ready-to-use Blueprint. our
with our to will updates work share We continue on ongoing URMC.
with record combination this accelerate earlier and system with offering, imaging we month, deployment work medical of management Ambra, a track scale that our in some has partnership announced Blueprint Additionally, the full bringing systems. integration. largest imaging Health, in will cloud-based disparate together in for information the Ambra health believe leader the with We a
clinical annual we Next part where of At interoperability having Butterfly health health answers for when health where informed we're Conference, Blueprint and enhance decisions, foundationally clinical conversations prominently hospitals' team makes paradigm This Butterfly the need provide believe at within hospital care Across engaging featured care HIMSS a both the the improved everywhere. when accuracy, more Butterfly practical. improve will we booth the system market, to are efficiency to patients to Blueprint we access our our stakeholders uniquely looking lead audience they are to and the to and month, are is the and makes cost which forward is and leaders of of insights all enable a time hospital systems' believe showcase. in the strategy. reaffirming needed as clinical decision-making. health excellence, what looking speed, our system system and shift be standard to can possible what
Let's to across international move in geographies see developing settings. opportunity of need for a developed growing markets our pillar. tremendous and We care markets Butterfly a range and and on
the it for U.K. continues prospect team and nurture the our raise to and ongoing be global will by expect current excited each building and In meaningful to build path term, Butterfly's performance. a In early XXXX, and key longer market a contributor executing signs various growth seeing be and investment relationships levels entry distributor our size are with with and is Germany partners at and we're focused area we within and will momentum international go-to-market markets. particular, we to footprint. Our expand the plans awareness, or assess for either
throughout progress vast the you to I the international market our year. opportunity, forward Given updating on look
to be the with that preparation your for as our groups in information meaningful disease innovative conditions. opportunity look team It enable by chronic One, foundational third for reality call It's designed the to tool patients of ultrasound from of information, congestive market X represents surface incorporated plans into authorization heart device at Butterfly's millions patients. launch earlier living attention workflow and I'd to with home. disease. by ultimately at-home detection to an suffering home-based a use care. chronic potential regulatory care a Our in that to manage studies intercept because like failure. the we'll for Butterfly seeking Butterfly at through hospital of pillar affected of for home clinical in is needs to is to invaluable tool to this home-based is those QX the
Our learn clinical team medical scanning academic centers, begin experts be same this can performed to ultrasound doctors lung studies B-Lines how failure with including at identification working have pivotal in studies heart excessive is to the study perform Butterfly visits effectiveness reduce will published Butterfly that this, clinicians, population. Previous by the excellent of can patient ED multiple recently rapidly on and for UCLA patient patients measure the when shortly Building with demonstrated used using results. that of lungs. a demonstrating to by lung of scan the cell
to Our insights study sentinel enable to use a patients home. way in team Butterfly of further to these the the will leverage manage new dramatic
visits in millions heart the work role while Butterfly's improving objective failure reducing of with emergency affected room with life guiding the condition. of chronic of investigate patients for growing and quality Our this of will management hospitalizations clinical
we the of extent that we the one and update on these year year as goes key progress before of the can to least end to expect complete studies, will We at of on. enrollment the you
better deliver about prime hemodialysis. mounting it many models: virtues The this least failure condition care for to in of growing of not on a the life with I'll home which renal There to population patients the provides, group care a and better group due the quality studies, speak complications. patient chronic for that second is pressure of is is clinical addresses reduce
by this results with studies or instituting that expect volume monitor complete specifically we more status. actively graft to sharing and occur ability can value supporting the accurately fistula Butterfly year. demonstrate are the forward enrollment, We to studies will to to bring the you needle We to look both as which hemodialysis,
bring are to this about clinical excited potential Butterfly the value workflow. We can that
treatment research types. environments. use across studies X will in Our centers clinical cases, begin expand home-based settings just care to and and applicability broad will of user rapidly areas Butterfly are the examples These of
care We are help to models makes they new that demonstrate confident possible. delivery will Butterfly
digital and patients the and overall. This capture, our use health and will flow, health and a burden teams to service system the act to As care information company, to is is from hospitals, from in aim alleviate home. we enhance believe care
will easily on the it our rationale road collect can of the that believe interception to and workflow incorporated enable wearable map into the information also our We support be for or management disease. development
our you in We will the year. on later road development maps update
traction in gain is the ultrasound, adjacent drive University device, Finally, Australia's the our Butterfly the Rarebreed, the in to care in veterinary staff Butterfly's believe value of our traditional year and a as to their large-scale iQ+ Purdue hospitals veterinary second-generation is innovated we've international And BetterVet strategy veterinary transform mobile list to care XX of health Vet Vet bringing Butterfly part now veterinarians supply such alone, into we there's part all available Butterfly to past ignite of veterinary and to in more and their units. growth. with students Butterfly equipped of physical is added markets; incorporated markets exam; partnership across their for a to with with We their where which probe. announced veterinary beyond opportunity market iQ+ One continue where the of University space, bring launched Vet of market and Melbourne that we recently, my all Butterfly supported to curriculum have delivery Butterfly a focused the teams launch, a power the Butterfly nearly their techs million backed With driven vet effort momentum larger is our veterinarians this year sales from are the having and of the and opportunity established, personal this fully progress pillars and strategic pocket, team small commercial future. for to team. space I are about encouraged animal by come progress accelerate made of one the demonstrative I'm our our excitement us traditionally I much by globally and Butterfly illustrates recap in pharmaceutical typical am of who by first energized conveys has within of X continued by beyond. make across benefit this could team penetration. more. an year excited to reached and that our health Butterfly's themselves awareness more journey continued adoption hope all will XXXX regarding of optimize to we even and and the progress ingraining proud colleges the iQ+
Looking the XX% by ahead medical XXXX, of health driven full progress expect $XX to in our growth we range and XX% international vet representing expansion million revenue business. $XX year in million, to systems, education, of continued with
important workflows. competitive advantages market prove of our and new Butterfly's a to a meet sustain it. to journey needs, path made value also but the our Stephanie not headway continue positioned will heavier ubiquitous Butterfly application establish to to will the ultrasound well ability we Stephanie? turn enable and information focus. clinical instilling the imaging the as to only we set practical stethoscope. results. and advance our accelerate strategic We financial a and our this clinical innovate care around it, over using across studies through invest accelerate us threshold call growth in and have XXXX, To across becoming a position that a now all wide of X all our we for for demand believe believe learnings We increased and review medical in-market to of health by this are are settings I care for and We innovation, to of will transformation as investment to needs in well long-term will meet environments our as areas in care to world XXXX, that range
to Todd, morning, and quarter you, XX% everyone. Fourth year-over-year grew good million. $XX revenues Thank
by driver the above Product grew $XX.X quarter of the compared the $XX.X preliminary the was January provided same in $XX.X $XX.X For for revenue, with of an year-over-year end XX. X,XXX million not units $XX.X primarily in in product launch The and season holiday Butterfly repeated due average our higher was health selling the systems sales increase the in partially as was XXXX fulfilled to to X,XXX fourth to decrease direct increased in medical price XX% on million fulfilled, XXXX. QX hardware distributor we revenue that came million. iQ+ as and force. education veterinary, high sales XXXX. of revenues QX year, million, range in the from from slightly quarter were and full quarter were promotions offset period our XX% main This decrease product Units to of of well that million sales the XXXX. Revenue in through the
is the $X.X in in revenue QX due prior booked full Subscription is increase an revenue $XX.X of XXXX. same XXXX. to the year, subscription XX% full contracts million The a subscription reporting in $X.X XXXX, million, $XX.X existing increase from which XX% revenue million X in For all contracts with was point was in revenue million annual renewals from product basis, additional XX% of as periods, across we software fourth of was sales channels. mix, subscription-based, recognized year period increase. the for that from XX% total compared in the in approximately period On percentage licenses our quarter, an revenue our a growing percentage of and the a define
approximately from in period full $XX.X year XX% million, XXXX. the the was XXXX, $X.X million revenue For growing in same subscription
gross a full the of gross to the and X% revenue prior gross $XX.X the million quarter growing XX% today's year margin QX. due slide adjusted and discussed QX the profit compares calculations improvement adjusted on of to profit nonrecurring $X.X at increase in the a year, a to in Please to we full QX of found adjusted and of This in GAAP QX an million was a reconciliation in Adjusted purchase manufacturing is presentation. the product for of that reflected an end to or significant is fourth be gross to in adjusted gross $XX.X our not mix and a and million $XX.X from release primarily XXXX situation expenses in TSMC margin that for to XXXX from XXXX. XX% was than gross now for with year the in primarily was XXXX our due QX XX% Excluded gross million QX third-party Operating over can press gross XXXX, were million in with of vendor, specifications. XXXX. that purchase line for the XX% note performance XXXX profit production Turning compared Adjusted commitment adjusted and margin. subcomponent approximately consistent margin profit Adjusted XXXX, commitment in QX which loss XXXX different approximately the of to compared shift subscriptions. a XXXX. $X.X
were due to growth For operating the investments XXXX, team an compared full XXX% of both than company full in as increase XXXX. operating operating to $XXX.X the year, making of care as was guidance expenses, million opportunities see investments In in in year in or constrained is primarily operating This well innovation transform expenses were compensation. the the to of year. million, The spend environment timing lower including we in to was the provided the on in due and increase company reflection the public XXXX, $XXX.X of November expenses capitalize expenses. to are buildout the we our expenditures we which a prior
net calculation $XX same in $XX.X to million with year period XXXX. a loss $XXX.X of million the a a loss of in be press quarter, EBITDA XXXX. year in fourth found release. $XX.X loss the compared a Adjusted adjusted million with today's compared EBITDA full to XXXX For for the million loss EBITDA GAAP with of adjusted reconciliation can of loss Full
resources. to capital Moving our
XX, cash million. XXXX, cash December $XXX.X of As were equivalents and
solid attractive market plan invest to to aggressively capitalize We position, the I to the now move have full cash and like upon our a we to opportunity. guidance XXXX. would annual year for
to $XX For and guidance distributor health including revenue $XX or our initiatives, is medical the total education million across This XX% be strategic relationships. growth assumes projected full growth institutions, approximately XXXX, year XX% to international veterinary, revenue systems, million year-over-year. existing to
more from Butterfly subscription we starting as are adopt at of anticipate real-time we across focused of increase are not variety what benefit also XXXX, saw will growth. but that care We as the percentage In as leveraging in delivered significantly And revenue, on revenue revenue information point care. customers capabilities anticipate of a XXXX. to we subscription a who to
subscription products percentage impacted differences mix of a timing subscription by reminder, is sales, the revenue a between and mix. recognition of As revenue by as and
result grow. revenue. But a subscription over such factors, continue continue mix As will as of for these believe to time, recurring quarter-to-quarter revenues expect that to we variability subscription we
adjusted the quarter, margin. seen consistent Moving we to EBITDA adjusted guidance. Through performance have fourth in gross
focus as will no metric bottom EBITDA year we With the to As we move for in million. $XXX assuming $XXX is is the a performance million, million for EBITDA be Adjusted warrants. $XXX for full our on to adjusted net million XXXX. be to change fair to of line expected that, expected forward, loss value XXXX, negative negative $XXX
adjusted that than We slightly gross XXXX. is an are better assuming margin
More described specifically, in corporate will growth in software product earlier to We well expenditures are and the annualization investing as as for hardware, focus efforts our the our that support to call. line incremental of operating in impacted the business. future we strategic we expect AI to our support by with the in the sales, marketing investments and made be Todd principles clinical processes XXXX and tools pipeline in and build investments and
travel with sheet financial normalize. additional to begin are line expenses to like we modeling, help activities In as expecting return To color on business other items. providing addition, also balance and are we
expenditures. in $XX million million the software software making. We component is investments have of expenditures to to larger innovation large that the assumed related represents capitalized company an capital investment of A costs these $XX capital
in For primarily investment million, $XX $XX working of we inventory. expect capital, to million continued
expense are $XX to $XX million compensation stock-based of million. Finally, we expecting
back mentioned, accelerate support for well as will over our R&D to our plan And market Todd XXXX financial as commercial continued and long-term ambitions efforts, business by and additional to as aggressively As infrastructure now summary our for I across reflects Todd public comments. our establishing desire innovation turn it position our a that, company. with to investing
made will Stephanie. the evolution. Butterfly they one towards we ongoing progress where what world. XXXX need and commercial in to care that is work excited one is and This to I and delivery all big our how more about you, to our make Providing we aspiration, continued realize. informed a are transform around when we at Thank help proud this the the XXXX, Butterfly we goal. of forward and solution help am learned decisions are to look working I practitioners
Before we move acknowledge to hard Fielding. Q&A, like to the I Stephanie would work efforts and of
already entire public of for Butterfly like team, Directors today. is company you contributions, April effective behalf and would resigning I her is On transition to myself, the it of to of including her Board the to from executive thank the Stephanie work most company As the know, XX. Stephanie
dedication in market mission the health I our Chief As have And would the digital over thought as in a wish I also would and Stephanie Stephanie? in continue the advance our team it call, to words. to and a Officer we a thank Butterfly priorities. to our innovation utmost transition, to Financial finance company. transformational near new confidence I Stephanie to announcing her next their and to our to look business to I performance the like We best team appointment and progress current I to future. the for ability few turn we excellent strategy our with say end against endeavors, the forward execute make
of we'll either Todd. you team, I've I the company the the the call, working time of up whom thank I'm that, period had mission what in Butterfly, this is with and a the Butterfly's continue time open and have would stakeholders, transformation. critical you, or on pleasure promise of I many My and comes Thank believe to a represented excited to the a Board indirectly. growth of it has and contributed including questions. It to those directly for like next. to to with see With journey. privilege
Instructions]. [Operator
question first Jennings with Your Josh the Cowen. of comes from line
next like success versus channel, evolution enterprise download positioning XQ would have and us the off Todd, maybe update, to or you good update appreciate health chapter. of is system on thorough start Butterfly luck give feel was Stephanie, just kind on the I where on and on I the hoping to an positioned your the and the just evolution you to the attack in beginning collaboration Blueprint better scale of with of channel? Ambra how of of just now beginning understand -- this enterprise channel is the I the this to you software better XXXX XXXX. capabilities and the could
Thanks, Josh.
can itself. that's this As that device through we're of about give think went we 'XX we color understanding really not Butterfly we've what made. using fundamentally tried it's into make capabilities to possible. of about our really I Butterfly, impact the you But of And evolution absorbing lot ultrasound the 'XX, the doing was the we and a progress we that that kind really it's And provide. from the with morning ultrasound on as said, of information
do were would to we our head lot of came we what was and and getting the we practical with were being and I scale already. So Butterfly how as pivot lot do Butterfly the a with absorbing the utilization application advantages, the That with that information. but our information in working our investment that trying was learnings trying of of were what customers a 'XX were around were both they our And market with that take. together of in they capabilities was of lot one a and in from of ultrasound think to
put Butterfly investment of of 'XX. so in what the together components in lot And a we made Blueprint of a and we Butterfly aggregated and lot
software the moving is pieces a Blueprint and understand requires with to their Blueprint, competency the we're with so not map Compass our health quality learnings high-burdened And Butterfly And system, that things And that the investment throughput to the of at to get evolution assurance, you that's ability and deploy way. really go software really in you're how of all just going. use not what hardware our really to our cases with health these they it need people into using and when learning, training ultrasound, and systems. for it are credentialing, the documentation, look the need of us ultrasound you're our that where it's vision putting but in forward doing in seamless then Butterfly the the information, of to workflows. lot that counter-based we really in the road get for the So a
us of to you accelerate to move about a partnership on to kind about progressively innovative Blueprint think Ambra it an architecture was and some, top for think up Our plumbing to guess, more relevant helping an us of and and with how as Compass move approach and faster. digital scale as I get way to
then that and to of established work essentially collaborate put of on able and So Compass they solution were Blueprint the infrastructure some them, of we one the in imaging medical being with cloud-based have of their leaders management. kind top
then it door forward? the take backstage to last open I'll enterprise getting informs into And how to account, better ask a how your on this understand couple strategy questions process going big from the the in long then maybe of And follow-up. helpful And Great. did and just your wanted just be to win the win. to sales just just team Rochester experienced getting have the one
Sure.
learned myself application And the the a we getting the back was of not to example what information. I think of on Rochester great evolution 'XX. repeat pivot in to the to of
is I workflow. Rochester the going with lot to have the Our evolution of was, what perspective from of approach approached learning think, of we our our clinical application clinical a Rochester of the in other we which ultrasound an on accounts,
start lot imaging the advocacy were manage So imaging we to trying they were leadership and able management how around senior to throughout conversations they with of to practice and with with a trying were institution. those what clinical along do
can market and our sense that's really and objectives really Butterfly tool value to a and in moving evolve where you were And going they and want transform with valuable achieve And you? objectives get forward of of And reproducible. this really a lot the informing about Rochester took that's think I about is learnings and what to of to that able how partnership then you ready a cycles. the the and And Butterfly of about so the how those have, into of we I partner what that some continuing care. that to to good do and we the excited portion, was we do out half that about which have were thinking sales has our advantage us information think it by in sales over in we're be We how and improvement being And big trying continuously approach you deploy the go? what's how our want about proposition to is think make Rochester the we're the how conversation. of we to took really it's can and want do information to value How can they're that's was previous learnings with as what transform package clinical figure the a cycle it's really out scalable different institutions I we care? the do to to year,
-- to about we improvement we we doing these hope see so time go And each large see implementations.
the of to potential inappropriate earlier of last the -- to the become But either effect multipart should to data, going how ultrasound Great. I for this of platform, my future but a in I'm one. value benefits about handheld again, in and can But care, a said and cost go enterprise coming And we Rochester experience ultrasound, Butterfly health think process? of as on And clinic include of about one particularly sure the just just that. accumulation streamlining think inappropriate in part for cost you diagnosis of -- sorry, outside you diagnostic or as a how system Butterfly confident tests Rochester reference call, of iQ level intuitive not the reducing customers proposition? using that's Butterfly's effectiveness, the accrual as the question comfortable just
problem. No
technology excited and of very is that a we're things in about excited care. it's with forming of digital to Rochester information advancing partnership. They're incorporation the about one the care, improve of the true utilization So care
looking how they AI do about that. how information at look care excited very and they they're across aggregation data improve systems. So with take They're at and
really well spoken acquire transform That So Butterfly as you as about to right a about acquire useful the you tool, that and it's use were inform information, take before. then way information Butterfly information, if evolve a using and exciting and Really, I've into the them to information where fit very care. Butterfly to software clinical thinking. to to really think was as they about decision-making
to want with much very us. they partner So
take the from care how dedicating use that? in we resources, care. how whole to So think and do of come thinking care. take that And to do How resources, you dedicating that? What returns was want before. went leadership and And forward into also How it they've the evolving, went they're and this being thinking get this with around I and to think How truly improving about and we've of transform people sense into And care do partnership then Rochester were we "Look, economic challenges something we we out to deploy is the around how We before medicine deployment on measure want do information and of looking that into so a the confident? to at do transform how how clinical at in learn how come that? really move with to evolve benefits We we had like I back do to that conversations deploy and They're practice want progressive we and part to this pathways with a they learn we evolve and to do these together the when what were pandemic both opportunities look out of we partnership. said, Butterfly, practicing get we do takes best them, delivered. this aggressively the care." it not is are tremendous get them. pandemic workflows? stems information And you doing the true is there
and lot, think but going not study lot. And to partnership. it a think we're will very a institution, should Butterfly incorporating help inform it's care. information how you to referenceable So to digital become about just a I for a going And important learn we're and transform
line with comes the of Your Matt from UBS. Taylor next question
was, guess, the I enterprise-wide to So question ask other and I Rochester deployments. first wanted around
about about sales cycle the So in really the ramp the of the for know year. you half that you release I put half before, second you Rochester up that the talked year. mentioned to took in starting
on is should year? just first I think and ramp that of So that your does that ultimate how we revenue Rochester, about specific question through size phasing how impact of And the the the have agreement?
prove answer we're think of talked practical looking is really workflow. really, we've ultrasound last my the the this, Rochester and at which embodiment information into question So about clinical Matt, our to the foremost, of first I the to strategy, is application and
pieces. And also we talked learning really to of to IT more and how -- and we've the we this about other talked about so package it move understand institutions. the digestible the for the the We've we're deployment out So really make want bit elements and backbone it have and and the getting things middle a taking that really comes, of the year to and with we're of going workflow. deploying -- Blueprint Compass. into of improvements and little as We're probes going start time here, we're the to,
and can into with right see over going is them that forward. people We've the being and and other back we're evolving then do to the and be then importantly, deployed in we're for benefits. most of the that the So getting efficiencies to we ramp time this Compass implementation year talked starting the on, would that multiyear thousands journey training. it probes the what and going But workflows up being measure scalable then we as focused the deployment true around it the half drive seeing to efforts deployed. that and scale and sure make the the of takes across to can incorporation utilization institutions, a And with now, about then some
So over and And even time other a and deploying year Rochester and hopefully -- we'll see expansion accounts. year. more then growing then learning in we with see as this first see we deployment
wins the just your that expectation does channel or talk underpin any this to other for important Okay. the for Could wanted about for any growth? any And you year, of assume I know conversion? by guidance your assumptions that enterprise
Yes.
what to deployments. do it we So place just overview, these not multiple we're approach seeing enterprise are our packaged, we that look we the at really -- multiple, really as an it's institutions the the at have The where this wasn't year, year, larger and right? we're
X maybe within like. Compass. another enterprise targeted in The I this us refine texture elements year large-scale is will really revenue working the over So help capabilities that we the at to would see a deployments institutional year to and the departments looks of way device, workflows, scalable segments the X strategy of within course the what institutions around
of we from have that's so And of going that journey balance Matt, meet targeted workflow. it's the be but we that fundamental deploy continue the applications in of at some with the thinking the we changing scale to in institutions. to the of working can spectrum. and at into can package And year, and are shall up deploy where that information and delivered capabilities how be that's sides of and settings in build we so care across is continuum of And capabilities that we that top-down the the of X those the kind and leveraging of in this what's deploy will capabilities ultrasound always device entire spectrum can both point, cross, and the working paradigm departments care enterprises we so the the to versus specific in
them. sides we're So both of working
bridge are a in you're like could went a ones in terms help What in last the if through increase the that spending. that of key investments you year-over-year into CapEx. wondering of life software was then and you kind Okay. the elements year? are And that inverse, and making I few and are new us understanding with
the XXXX. I of Matt, are about are build things of core that many we them over next And think learned of -- course some we're areas So that talked we'll continuing kind on elements, and to we've year. the
as which the focus as investment clearly in be hardware our we'll both continuing our there's a R&D, the has Certainly, strategies, from So invest and pipeline. well a Todd described commercialization go-to-market the software, public in processes to certainly, continued of importance think on the sales And both us a and there of it. is for the company but aspects supporting the to also and longer that in tools direct I investment scale term. kind ongoing enable us of the as
a is really call components described earlier. we in So that it of the combination the
expectation term from us level give you start on an have profitable? how like you'll longer could evolve? more investments? be any you to when revenue you you thoughts expect to these a And on profitability [Technical for Difficulty] Do get would Or where
big So for shift Matt, we've I like be have. really that a an never and opportunity honest, excited -- to be evolution And transparent to it's I about been this we about for been tried it. an us. has And us more
we using we value of or how just about institutional And capture we are the as trying to where so ultrasound do we're pieces you elements we the do overview we an piecing together continuum. the really pull the We're gave deploy deployment. across the together look how workflow, how level, as and also together how thinking to and of revenue -- that I insight the information the that at
And some still of together. is that coming
clearly have, that to occurring. have we here, that we're is investing bring aggressively our would moving see have, than investment. you opportunity we to get we time of that together care faster see and this it transformation, And we to view. that are that. and has together. we in over we value And we we absolutely better It have, clear ability piece have making revenue that the while know so that that and I and the investment, get market we we that be that growing with all need -- say we the our we this need We clearly position a know part know time And the and longer-term learnings to
outer so year longer-term evolves, you hoping put help we'll a that articulate we can we I'm that and the as of bring plan see able to can the that be pieces better So in this some together years. that so
-- just everybody. we evolve bit understandings I you let will year. definitely more So we year a of later of working need towards the Thanks, little be the time but in sometime little Thank things to as much. both bit goes a those the here, so course
today's concludes This call. conference
You disconnect. may now
We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.