Core Insights - Butterfly Network, Inc. will report its fourth quarter and full year 2025 financial results on February 26, 2026, at 8:00 am ET [1] - The conference call will be hosted by Joseph DeVivo, President and CEO, and John Doherty, CFO, to discuss financial performance and operational progress [1] Company Overview - Butterfly Network is a healthcare company focused on transforming medical imaging through its proprietary Ultrasound-on-Chip™ technology and ultrasound software solutions [3] - The company launched the first handheld, single-probe, whole-body ultrasound system, Butterfly iQ, in 2018, followed by iQ+ in 2020 and iQ3 in 2024, each with enhanced processing power [3] - The iQ3 received the Best Medical Technology award at the 2024 Prix Galien USA Awards, highlighting its recognition in the healthcare sector [3] Product and Market Strategy - Butterfly combines advanced hardware, intelligent software, AI, services, and education to promote the adoption of affordable and accessible imaging solutions [4] - Clinical publications indicate that Butterfly's handheld ultrasound probes, when paired with Compass™ enterprise workflow software, can improve care workflows, reduce costs, and enhance provider economics [4] - The company's cloud-based solution enables healthcare delivery anywhere, addressing significant global healthcare challenges and aiming to democratize healthcare [4] - Butterfly devices are available to trained healthcare practitioners across various regions, including parts of Africa, Asia, Australia, Europe, the Middle East, North America, and South America [4]

Core Insights - Butterfly Network, Inc. anticipates a revenue growth of at least 17% year-over-year for the fourth quarter ending December 31, 2025 [1] - The company is entering 2026 with strong momentum in its handheld ultrasound business and plans to outline its growth strategy at the upcoming J.P. Morgan Healthcare Conference [2] Company Overview - Butterfly Network is a digital health company focused on transforming medical imaging through its proprietary Ultrasound-on-Chip™ technology and software solutions [3] - The company launched the first handheld, single-probe, whole-body ultrasound system, Butterfly iQ, in 2018, followed by the iQ+ in 2020 and the iQ3 in 2024, each improving in processing power and performance [3] - The iQ3 received the Best Medical Technology award at the 2024 Prix Galien USA Awards, highlighting its recognition in the healthcare sector [3] Business Strategy - Butterfly combines advanced hardware, intelligent software, AI, services, and education to promote the adoption of affordable imaging solutions [4] - The company aims to democratize healthcare by addressing global healthcare challenges through its cloud-based solutions, which enable care delivery anywhere [4] - Butterfly's devices are available to trained healthcare practitioners across various regions, including Africa, Asia, Europe, and the Americas [4]

Core Viewpoint - AI is revolutionizing the drug development process in the biopharmaceutical industry, significantly enhancing efficiency and effectiveness in research and innovation [6][8]. Group 1: Human Evolution and Technological Revolution - The essence of humanity is rooted in its evolution from herbivorous to omnivorous diets, which has influenced societal traits and behaviors [2]. - Technological revolutions are identified as the core driving force of human development, following a cyclical pattern of slow incubation, rapid output, and eventual stagnation [4]. - Historical technological milestones include the Industrial Revolution initiated by Richard Arkwright in 1771, the steam engine by George Stephenson in 1852, and the advent of computers in 1939, culminating in the rise of artificial intelligence in the 1980s [4]. Group 2: Current Technological Waves - The world is currently experiencing overlapping technological waves, including the ongoing information network revolution and the emerging biopharmaceutical and AI waves [5]. - AI is reshaping social cognition and information dissemination, leading to changes in societal behaviors and decision-making processes [5]. Group 3: AI in Biopharmaceuticals - The integration of AI in biopharmaceuticals has led to the establishment of successful companies, with a notable success rate of 90% in projects initiated by the speaker's team [6]. - AI has significantly shortened drug development timelines, with three new drugs entering clinical phase II within six years, marking them as world-first innovations [8]. - The development of AI algorithms has enabled the standardization of biopharmaceutical data, expanding usable patient data from thousands to billions, thus enhancing the training of AI models [8].

Core Viewpoint - AI is revolutionizing the drug development process in the biopharmaceutical industry, significantly enhancing efficiency and effectiveness [10][14]. Group 1: Human Evolution and Technological Revolution - The essence of humanity is rooted in a plant-based diet, with a shift to meat consumption around three million years ago leading to significant evolutionary changes [4]. - Technological revolutions are the core narrative of human development, characterized by a cycle of slow incubation followed by rapid output and eventual stagnation [6][7]. - Historical technological revolutions include the Industrial Revolution, the rise of the automobile, and the advent of the internet, each marking significant economic and societal shifts [7]. Group 2: Current Technological Waves - The world is currently experiencing overlapping technological waves, including the ongoing information network revolution and the emerging biopharmaceutical and AI waves [8]. - AI is reshaping social cognition and information dissemination, leading to changes in societal behavior and decision-making processes [8]. Group 3: Biopharmaceutical Industry Insights - In 2022, China's biopharmaceutical industry achieved over $100 billion in external licensing, surpassing the export value of new energy vehicles, indicating a significant growth trajectory [8]. - Despite lower investment levels compared to the new energy vehicle sector, the biopharmaceutical field's growth reflects the irreversible nature of technological waves [8]. Group 4: AI in Drug Development - The integration of AI in biopharmaceuticals has led to the establishment of successful companies, with a 90% success rate in projects initiated by the speaker's team, resulting in 10 companies being launched [11]. - AI has drastically reduced drug development timelines, with three drugs entering clinical phase II within six years, marking them as "First-in-Class" innovations [14]. - AI algorithms have enabled the standardization of biopharmaceutical data, expanding usable patient data from thousands to billions, thus enhancing the training of AI models [14].

Group 1: Forum Insights - The 2025 Capital Markets Hong Kong Forum focused on "Technology and Asset Management Empowering High-Quality Development," gathering around 150 professionals from various sectors [1] - Participants believe that a "slow bull" market is forming in A-shares, with technology remaining a key theme globally in 2026 [1] - The forum is part of the first "Hong Kong International AI Art Festival," aimed at integrating technology and art, contributing to Hong Kong's status as an international innovation and cultural exchange center [1] Group 2: Regulatory Developments - The Hong Kong Financial Secretary is working with the Securities and Futures Commission and the Stock Exchange to optimize market regulations, including shortening the stock settlement cycle to T+1 and expanding acceptable collateral types [2] - Initiatives to promote RMB securities business are underway, with plans to submit legislative proposals in the first half of 2026 to facilitate RMB-denominated stock transactions [2] Group 3: AI in Asset Management - AI is widely applied in Hong Kong's banking, securities, insurance, and asset management sectors, enhancing operational efficiency and service ecosystems [2][3] - The Hong Kong government adopts a dual-track approach to promote AI in financial services, balancing innovation with addressing challenges like cybersecurity and data privacy [3] Group 4: AI in Pharmaceuticals - AI is significantly impacting drug development processes, with examples like the FDA-approved Butterfly iQ ultrasound device showcasing AI's role in reducing costs and improving efficiency in medical imaging [4] - AI-driven research has led to the identification of 20 new drug targets, demonstrating its potential to revolutionize drug discovery and development [5][6] Group 5: Market Outlook - Morgan Stanley's stock strategy head predicts that the A-share market's institutionalization and corporate earnings will support the current bull market, with a focus on export, AI, and consumer sectors for 2026 [8] - The outlook for international investment in Chinese assets will depend on factors such as inflation pressure, consumer rebound, and real estate stabilization [8] Group 6: AI in Insurance - AI is transforming insurance asset management by enabling systematic decision-making under complex constraints, moving from subjective to data-driven optimal solutions [9] - The application of AI in insurance includes structured data processing, scenario generation, and human-machine collaboration to enhance decision quality [9][10]

Group 1 - The forum held on December 19, 2023, focused on "Technology and Asset Management Empowering High-Quality Development," gathering around 150 professionals from various sectors, indicating a growing interest in the integration of technology in finance and asset management [2] - The Hong Kong government is actively working to create a more efficient and inclusive market environment by optimizing regulations, including shortening the stock settlement cycle to T+1 and expanding acceptable collateral types [7][8] - AI is being widely applied across banking, securities, insurance, asset management, and green finance in Hong Kong, enhancing operational efficiency and enriching service ecosystems [7] Group 2 - AI is significantly transforming the drug development process, with advancements in machine learning and data analysis leading to faster and more efficient drug discovery [10][14] - The use of AI in biomedicine has improved the efficiency of drug development, with AI-driven companies achieving remarkable progress, including the entry of four drugs into clinical stages within six years [14] - AI's ability to standardize and process vast amounts of biomedical data has expanded the potential for training models, increasing usable patient data from thousands to billions [14] Group 3 - The A-share market is experiencing a "slow bull" trend, supported by institutional investment, corporate earnings, and lower-than-expected tariff risks, with technology innovation attracting both domestic and international investors [15][17] - Key themes for investment in 2026 include exports, AI, "anti-involution" in certain industries, and the consumer sector, with performance being a critical driver for market dynamics [17] - The insurance asset management sector is evolving with AI, moving from subjective decision-making to systematic optimization under complex constraints, enhancing decision quality and risk management [20][21]

Core Insights - Butterfly Network, Inc. is participating in the 8th Annual Evercore Healthcare Conference, with key executives scheduled for a fireside chat and one-on-one investor meetings [1][2] - The company is recognized for its innovative Ultrasound-on-Chip™ technology and has launched several handheld ultrasound systems, including the award-winning iQ3 [3][4] Company Overview - Butterfly Network, Inc. is a digital health company focused on transforming medical imaging through handheld, whole-body ultrasound technology and intuitive software solutions [1][3] - The company launched the first handheld, single-probe, whole-body ultrasound system, Butterfly iQ, in 2018, followed by the iQ+ in 2020 and the iQ3 in 2024, each improving in processing power and performance [3] - The iQ3 received the Best Medical Technology award at the 2024 Prix Galien USA Awards, highlighting its significance in the healthcare sector [3] Product and Technology - Butterfly combines advanced hardware, intelligent software, AI, services, and education to enhance the adoption of affordable and accessible imaging solutions [4] - The company’s handheld ultrasound probes, paired with Compass™ enterprise workflow software, have been shown to improve care workflows, reduce costs, and enhance provider economics [4] - Butterfly's devices are available to trained healthcare practitioners globally, addressing critical healthcare challenges [4]

Core Insights - Butterfly Network has launched an AI-powered Gestational Age tool in Malawi and Uganda to enhance maternal and fetal health through improved access to ultrasound technology [1][4] - The tool allows lower-skilled healthcare workers to estimate gestational age quickly and accurately without requiring image interpretation or extensive training [4][5] - The initiative is part of Butterfly's broader commitment to advancing maternal health in under-resourced settings, supported by the Gates Foundation and developed in collaboration with the University of North Carolina [4][5] AI-Enabled Gestational Age Tool - The AI tool addresses the critical need for affordable ultrasound technology in low-resource settings, where 92% of maternal and neonatal mortality occurs in low- and middle-income countries [2] - It enables midwives and other healthcare providers to deliver timely care by determining the appropriate gestational age for necessary medical interventions [4] Milestone Achievements - Butterfly Network has successfully deployed 1,000 handheld ultrasound probes and trained over 1,050 healthcare providers in Sub-Saharan Africa from September 2022 to December 2024 [6] - As of July 2025, 1.8 million scans have been conducted, averaging 83,000 scans monthly, demonstrating significant integration of obstetrical ultrasound services in over 697 public health facilities [6] Positive Impact on Maternal Health - Preliminary data from Kenya indicates a significant increase in women seeking antenatal care before 24 weeks, with over 90% patient satisfaction reported [9] - In South Africa, there has been a notable reduction in stillbirths and maternal mortality, with 873 appropriate referrals made for higher-level care [10][11] - The average scan time for providers has been reduced to 1.3 minutes, with a high confidence level in detecting key maternal conditions post-training [12] Technological Advancements - The latest Butterfly device, iQ3, has been approved for use in South Africa and Kenya, enhancing the quality and accessibility of POCUS [7] - Butterfly's innovations have received multiple accolades, including the Best Medical Technology at the 2024 Prix Galien USA Awards, highlighting the company's commitment to advancing healthcare technology [14]

Core Insights - The study published in JAMA confirms that a Butterfly-enabled POCUS program focused on lung ultrasound significantly reduces hospital stay and costs associated with undifferentiated dyspnea, including acute heart-failure exacerbations [1][2][3]. Study Findings - The POCUS program led to a reduction of 246 hospital bed-days and resulted in direct cost savings of $751,537 during the evaluation period [3][4]. - The integration of a hospitalist POCUS workflow, which included lung ultrasound and AI assistance, was associated with a 30% reduction in expected hospital length of stay (8.3 days compared to 11.9 days, p = .01) [7]. - Clinical management was altered in 35% of cases due to the use of POCUS, highlighting its impact on patient care [7]. Economic Impact - The incremental cost-effectiveness ratio was calculated at $3,055 per hospital bed day saved, demonstrating the economic value of POCUS integration into inpatient care [7]. - The study emphasizes the potential for POCUS to improve hospital resource utilization and patient care through structured workflows [4][6]. Company Background - Butterfly Network, Inc. is a digital health company that specializes in portable ultrasound technology and software solutions, aiming to transform healthcare delivery [2][9]. - The company has developed a series of handheld ultrasound devices, including the Butterfly iQ, iQ+, and iQ3, which leverage advanced semiconductor technology [9][10].

Core Insights - The Medical Info Systems industry is experiencing significant growth driven by new federal policies and the $500 billion Stargate AI project initiated by Donald Trump, which aims to enhance AI infrastructure in healthcare [1][3][5] - The use of AI in the medical device market is projected to grow at a CAGR of 29.9% from 2026 to 2029, indicating strong demand for digital healthcare solutions [1][3] - The industry faces challenges due to escalating tariffs on imports, which could hinder the development of AI technologies essential for healthcare [2][5] Industry Overview - The Zacks Medical Info Systems industry includes companies that develop healthcare information systems, providing software and hardware solutions for secure access to clinical, administrative, and financial data [2] - The focus on patient satisfaction and data security has increased the demand for big data, cloud computing, blockchain, and AI technologies [2] Trends Influencing the Industry - AI is being increasingly adopted in the medical sector for drug synthesis, device creation, and diagnostics, with the global AI in healthcare market expected to reach $95.65 billion by 2025 [3] - Remote patient monitoring is growing rapidly due to the rise in wearable devices and telehealth services, with the global smart healthcare products market projected to grow from $145.9 billion in 2023 to $485.71 billion by 2032, at a CAGR of 12.78% [4] Financial Performance - The Zacks Medical Info Systems industry has underperformed the S&P 500 and the broader medical sector over the past year, with a decline of 6.6% compared to a 25.3% increase in the S&P 500 [9] - The industry is currently trading at a forward price-to-sales (P/S) ratio of 3.95, lower than the S&P 500's 4.56 and the sector's 2.50 [12] Investment Opportunities - Veeva Systems, with a Zacks Rank 1 (Strong Buy), is expected to see an 11% earnings growth for fiscal 2026 [18] - Hims & Hers Health, holding a Zacks Rank 2 (Buy), anticipates a 58% increase in earnings for 2025, driven by a growing subscriber base [22] - Butterfly Network, also with a Zacks Rank 2, projects a 5.9% improvement in earnings for 2025 [26]