Butterfly Network, Inc. Sean Leous Westwicke, an ICR Company (646) 866-4012 Butterfly Network valuation is $1.3 b,. The Butterfly Network SPAC checks the first two bullet points, but not the last one. Market data powered by FactSet and Web Financial Group. We certainly wouldn’t want to alert on simply rumors (that’s how most of these start). The company is forecasting revenue to grow from $44 million in 2020 to $334 million in 2024. No telling what the price point will be for that offering, but the iQ+ is currently being offered for $1,999 on their home page. Butterfly Network's mission is to make ultrasound technology universally accessible and affordable through the sale of its iQ product and … SO ASSUMING SMART PULL BACK, THIS STOCK HAS GOOD PROSPECTS OF REACHING 200 LEVELS QUICKLY. Once the deal goes through, shares will trade under the ticker BFLY. According to the company, Butterfly iQ is “the only ultrasound transducer that can perform whole-body imaging in a single handheld probe using semiconductor technology.” Their latest Butterfly iQ+ device connects directly to an iPhone or Android smartphone and tablet to provide its imaging and software features for more than two consecutive hours, while charging to full battery in approximately five hours. The Butterfly filing lists their primary competitors as the top five manufacturers of legacy cart-based incumbent ultrasound devices – General Electric, Philips Healthcare, Canon Medical Systems, Hitachi, and Siemens Healthineers. Our handheld ultrasound device is easy to use, works with iPhone and Android and fits in your pocket. Generally speaking, we avoid SPACs like the plague, though we did invest in one. What’s the total addressable market here? Butterfly's Ultrasound-on-Chip™ technology replaces the traditional transducer system with a single silicon chip. We did this on a few trades but nothing after that because it really is quite speculative and we’re investors, not speculators. The shares only traded at a small premium to what institutional investors paid. Once the deal closes, the combined company will trade on the New York Stock Exchange under the symbol BFLY. Here's how: Navigate to our online store. Learn more about iQ+ (Traditional cart-based equipment typically ranges from $45,000 to $60,000 per new device in the mid-range.). Around 85% of revenues come from product sales and the remainder from subscription services. When Alteryx dumped -40%, we couldn’t help but open a position. Stryker, Medtronic, and Johnson & Johnson are all companies found in our dividend growth investing strategy, Quantigence. People who hold shares already are happy to sell them for a quick gain. Just so happens, we’re holding two medical device companies in our DGI portfolio right now – Stryker (SYK) and Medtronic (MDT). Required fields are marked *. Longview is a special purpose acquisition company (SPAC), which have been all the rage this year. Evan is a senior technology specialist at The Motley Fool. Butterfly estimates that its addressable market is $8 billion, and the company believes that it can disrupt the market with a combination of low costs and superior technology. Sometimes, we’re willing to take on additional risk because we believe the upside outweighs the potential downside. We’ve noted this as a possible feature for our premium subscribers going forward. If shares start to approach the $10 mark, then you’ll be paying what the smart money paid. Butterfly Network has raised a total of $350M in funding over 3 rounds. Thank you for raising this. No existing shareholders will be selling any equity as part of the transaction. If you're in a country where we are available, you can purchase a probe in the Butterfly Store.. How can I get a quote? ; Select the Butterfly iQ or Butterfly iQ Vet in the store. Lots of investments are being made in shoring up their intellectual property portfolio. Butterfly Network has raised $350 m in total funding. That means one probe that can emulate any transducer–linear, curved or phased. The transaction, which is expected to raise $589 million in gross proceeds, values Butterfly Network at an enterprise value of $1.5 billion. The deal values Butterfly Network at $1.5 billion. The deal hasn’t even settled yet, and the Robinhood trader types are already hyping the stock. Butterfly sold and shipped approximately 12,900 devices in the year ended December 31, 2019, and approximately 12,500 devices in the nine months ended September 30, 2020. We can also see they plan to introduce wearables in 2023, a whole new market the company plans to expand into, and one of their largest growth opportunities. We can work to get these SPAC pieces out sooner, but we often need to wait for them to file sufficient information so we can write an informative piece. The SPAC Deal: Butterfly Network, a handheld portable ultrasound company, is merging with Longview Acquisition Corp (NYSE: LGVW). Butterfly Network has raised a total of $370 million in funding from investors including the Bill & Melinda Gates Foundation, ... Stock Quotes, and Market Data and Analysis. While a small premium might be warranted, a premium of 66.5% is out of the question. A Handheld Ultrasound Device for Your Smartphone, https://www.nanalyze.com/2020/07/spacs-retail-investors/. Butterfly Network, Inc. Mike Cavanaugh or Mark Klausner Westwicke, an ICR Company (646) 677-1838 investors@butterflynetwork.com. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Longview Acquisition Stock Jumped Today @themotleyfool #stocks $LGVW, Why Longview Acquisition Stock Popped Today, Copyright, Trademark and Patent Information. As a result of the announcement, shares of the SPAC in question jumped over +66%. The product development process seems mature, and the “iQ in the Home” flavor is expected to launch next year. Butterfly Network, Inc. Mike Cavanaugh or Mark Klausner Westwicke, an ICR Company (646) 677-1838 investors@butterflynetwork.com. It’s not just about SPACs, but also about sharp increases/decreases in share price for stocks in our portfolio. Institutional investors thought a fair price was around $10 per share, and that’s what we think retail investors should pay as well. We find ourselves guilty of that sometimes. Bill & Melinda Gates Foundation and Fosun Pharma are the most recent investors. While there are other companies offering handheld ultrasound units like Philips Lumify, the overall market penetration for handheld devices is quite low at less than 3% globally. As of November 1, 2020, Butterfly owned approximately 275 issued patents and approximately 537 pending patent applications. 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