On January 25, 2011, Jonathan M. Rothberg introduced Butterfly Network (BFLY) that is currently dealing with designing of medical imaging devices. The main advantage of these devices is the reduction in cost of real-time and three-dimensional imaging and treatment. They not only develop awhole-body portable ultrasound scanner, also known as iQ Device, but also offers related hosted, Web-based application, application programming interfaces and platform servicesto physicians or other licensed health care personnel’s.
Focus on the Quality and Quantity:
Main goal of BFLY is to provide more efficient and less priced superior medical imaging devices to its customers and making high-quality ultrasound more affordable, easy to use, and globally accessible. Butterfly iQ device is the only ultrasound transducer that have the ability to perform “whole-body imaging” by the help of single handled semiconductor technology.
Attracting more investors:
On 24th February,during the premarket the stock price surged 4.6% to $21.78.
On February 16, Butterfly Network announced and disclosed the unaudited 2020 full-year revenues that has been estimated up to at least $45 million. Furthermore, they also stated about the growth of the company which is 63% greater than the previous 2019 year. In addition of this, Butterfly also stated to disclose their fourth quarter and full-year 2020 financial results in upcoming month of March of 2021. This disclosure will be followed by a webcast and a live conference call to discuss the results and further business plans.
On February 17, after Cathie wood investment in BFLY, the company shares just jumped up to 5.9% that gained investors attraction.
Conclusion:
Every new invention attracts investors. Currently, each and every department require highly efficient instrument in lesser price. This not only boost the working output but also the company’s growth and their further research that they have to make in the future.
