Butterfly Network appoints Victor Ku as new chief technology officer

BURLINGTON, Mass. - Butterfly Network, Inc. (NYSE:BFLY), a medical technology company with a market capitalization of $400 million, announced Tuesday the appointment of Victor Ku as Senior Vice President and Chief Technology Officer, effective late September. Ku will lead the company’s global technology strategy, product development, and innovation roadmap. According to InvestingPro data, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 5.68.

Ku brings over 20 years of leadership experience in regulated, industrial, and high-tech environments. He most recently served as Vice President of R&D, Engineering, and PMO at Headwall Photonics, where he led development of hyperspectral imaging products. His previous roles include senior positions at Teledyne FLIR and EFI.

"Victor’s deep expertise in semiconductor-based imaging and his proven ability to scale global product development make him a perfect fit for Butterfly’s next phase of growth," said Joseph DeVivo, President and CEO of Butterfly Network, in a press release statement.

Ku holds a PhD in Engineering Science and Electrical Engineering from Oxford University and an Executive Certificate in Managing Product Platforms from MIT.

Butterfly Network develops portable ultrasound technology based on its proprietary Ultrasound-on-Chip semiconductor technology. The company launched its first handheld, single-probe ultrasound system in 2018, followed by updated versions in 2020 and 2024. Its latest model, the iQ3, received the Best Medical Technology award at the 2024 Prix Galien USA Awards. InvestingPro analysis shows the stock is currently undervalued, with analysts setting price targets between $2 and $4. Get detailed insights and access to the comprehensive Pro Research Report covering BFLY and 1,400+ other US stocks on InvestingPro.

The company’s devices are available to trained healthcare practitioners across various regions globally, including parts of Africa, Asia, Australia, Europe, the Middle East, North America and South America. With a gross profit margin of 62% and showing strong momentum with a positive return over the last month, the company continues to expand its global footprint.

In other recent news, Butterfly Network reported record revenue of $23.4 million for the second quarter of 2025, marking a 9% increase compared to the previous year. The company’s earnings per share (EPS) showed a loss of $0.03, which was better than the anticipated loss of $0.05. Additionally, Butterfly Network has adjusted its full-year revenue guidance to a range of $91 million to $95 million. In terms of strategic partnerships, Butterfly Network has teamed up with Clipper Distributing to make its handheld ultrasound devices more accessible to veterinary practices across the United States. This agreement will enable wider availability of the Butterfly iQ+ Vet, designed for multi-species imaging. Furthermore, TD Cowen has reiterated its Buy rating on Butterfly Network, maintaining a price target of $3.50. This follows the publication of the POCUS-CARE trial results, which showed that the iQ3 device can significantly reduce costs and inpatient stay lengths. These developments are part of Butterfly Network’s recent activities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.