The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Joshua Jennings - Cowen Inc. - Analyst
: Great. Thanks for taking the questions. I wanted to start on the iQ3 launch. It sounds like you're having significant early success. I apologize if I'm
making you repeat some things from your prepared remarks. I jumped in late.
But I just wanted to hear about the launch in the US, where you're having the most success, either on the hospital enterprise channel or e-commerce
channel or other. And then also, sorry for the multi-tiered one here, but just the international launch coming up and any expectations there in
terms of just high-level color and contributions in the second half?
Question: Joshua Jennings - Cowen Inc. - Analyst
: Excellent. And I guess my follow-ups, sorry, I've got two. First is just anything, just want to pipe the sales funnel and the sales pipeline. I mean, I
think your answers and your prepared remarks suggest that that is building nicely, but any way to kind of quantify the pipeline relative to where
things stood last year?
Question: Joshua Jennings - Cowen Inc. - Analyst
: Okay. Thank you. Appreciate it.
Question: Joshua Jennings - Cowen Inc. - Analyst
: It's great to hear. Last question is just wanted to, you know, we've spoken about this before and you addressed it at the investor, but just to think
it as you're calling out through Butterfly Garden and Powered by Butterfly opportunities, how, and we're updating our models for 2025, just maybe
talk about revenue contributions from those two channels.
I know you're not going to quantify them, but should they start, some start flowing in here before the end of the year or into 2025, within the same
vein, but totally off base potentially, just thinking about the intracardiac ultrasound market, left atrial appendage occlusion, pulse field ablation is
coming in, cardiac ablation, all these structural heart procedures, intracardiac ultrasound is much more important, but also it's taking off. Is there,
are there any partnerships in the works and is that a channel that excites you guys?
Thanks.
Question: Joshua Jennings - Cowen Inc. - Analyst
: Yes.
Question: Joshua Jennings - Cowen Inc. - Analyst
: Thanks for taking all those questions. Appreciate it.
Question: Suraj Kalia - Oppenheimer & Co. Inc. - Analyst
: Good afternoon, Joe, Heather. Congrats on a nice quarter.
Question: Suraj Kalia - Oppenheimer & Co. Inc. - Analyst
: A couple of questions for you and a couple for Heather. Joe, let me start out with AI and ultrasound, more macro level, Joe. Are there any specific
structural shifts happening in ultrasound?
All the key players are now talking about pushing AI and ultrasound, obviously, GE with Caption Health. And I guess I'm more curious as to the
more recent drivers for which everyone has started talking about AI integration, whether it's a Fax to EMR, and more so just kind of putting it into
the assistance. Any color there would be great.
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AUGUST 01, 2024 / 9:00PM, BFLY.N - Q2 2024 Butterfly Network Inc Earnings Call
Question: Suraj Kalia - Oppenheimer & Co. Inc. - Analyst
: Fair enough. Joe, in terms of the RoHS revocation letter, obviously you guys are going against the three big dogs in the field, right? What would
you consider a mission accomplished?
Question: Suraj Kalia - Oppenheimer & Co. Inc. - Analyst
: Got it. Heather, a couple of questions. I'll put both of them together. Maybe I read this wrong, Heather. So units were up 37% year-over-year, but
sales, product sales were up 4%. Obviously, I'm screwing up somewhere. If you could help clarify that? I guess what I'm trying to get at is price
versus volume split. And the second thing, Heather, is iQ3 contribution in the quarter. Thanks again for taking my question, folks, and congrats.
Question: Suraj Kalia - Oppenheimer & Co. Inc. - Analyst
: Well, just the iQ3 contribution in the quarter, just additional metrics in terms of penetration rates, what percent of your base now has an iQ3, just
additional metrics that we can slice and dice?
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AUGUST 01, 2024 / 9:00PM, BFLY.N - Q2 2024 Butterfly Network Inc Earnings Call
Question: Suraj Kalia - Oppenheimer & Co. Inc. - Analyst
: Thank you.
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