One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Butterfly Network, Inc.
BFLY · NYQ · Healthcare · Medical Devices
Current price
$7.25
52-week range
$1.90 - $10.21
Market cap
$1.93B
Balance sheet
Healthy
-58.00x Concerning
Net cash $105.56M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
1 Risk
1 rewards · 1 risks
- Reward Revenue grew 14.9% last year.
- Risk Return on equity was -35.5% last year — the company lost money on shareholders' equity.
What this company does
Butterfly Network, Inc.
Butterfly Network makes handheld ultrasound devices that work with smartphones and computers, helping doctors see inside the body with a single probe. Their main income comes from selling these devices and related software and services, which is important because it shows how many doctors are adopting their new technology. The company's success relies on convincing more healthcare providers to use their more portable and connected ultrasound systems.
How the company got here
Butterfly Network was founded in 2011 with a vision to make ultrasound technology more accessible and affordable. The company's journey has been marked by a focus on innovation, aiming to democratize medical imaging. A key turning point was the development of their handheld ultrasound device, which aimed to put powerful diagnostic tools into the hands of more healthcare professionals. This innovation sought to overcome the traditional barriers of cost and complexity associated with ultrasound equipment.
What it actually does
Butterfly Network creates handheld ultrasound devices that connect to smartphones and tablets, making medical imaging more portable and easier to use. Think of it like a powerful, pocket-sized X-ray machine, but using sound waves instead of radiation to see inside the body. These devices allow doctors and other healthcare providers to perform scans for a wide range of conditions, from checking a baby during pregnancy to examining injuries on the go. The company also offers software and educational tools to help users get the most out of their devices.
Ultrasound Imaging Solutions
This is the core of Butterfly Network's business, where they design and sell their innovative handheld ultrasound systems. These devices, like the Butterfly iQ+ and iQ3, are designed to be used across the entire body, integrating seamlessly with a user's smartphone or tablet. They are sold to hospitals, clinics, and individual healthcare professionals who need portable and versatile imaging capabilities. This segment represents the primary way the company generates revenue, by providing advanced medical technology in a more accessible format.
Software and AI Solutions
Beyond the hardware, Butterfly Network offers a suite of software and artificial intelligence (AI) tools to enhance the use of their ultrasound devices. This includes Compass AI, a system designed to connect various devices and streamline workflows within a healthcare setting, and ScanLab, an AI-powered educational platform that helps users learn how to perform and interpret ultrasound scans. These offerings aim to improve the efficiency and effectiveness of medical imaging, adding value for their customers and creating additional revenue streams.
What management is betting on now
Butterfly Network's management is focused on expanding the adoption of their technology globally and further integrating AI into their products. They are working to make their ultrasound solutions a standard tool in various medical settings, from emergency rooms to primary care. The company believes that by continuing to innovate and improve the capabilities of their handheld devices and accompanying software, they can significantly increase access to high-quality medical imaging for more patients worldwide. This strategy aims to drive future growth by making ultrasound diagnostics more ubiquitous.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-8.33M
FY2024 Q4
$-3.53M
FY2025 Q1
$-12.03M
FY2025 Q2
$-8.06M
FY2025 Q3
$-3.90M
FY2025 Q4
$7.95M
FY2026 Q1
$-14.84M
FY2026 Q2
$-17.24M
Revenue
$32.61M
Net income
$-12.91M
Diluted EPS
-0.05
Operating cash flow
$-16.27M
Free cash flow
$-17.24M
Fetching…
Sources
Revenue
$26.53M
Net income
$-12.68M
Diluted EPS
-0.05
Operating cash flow
$-13.89M
Free cash flow
$-14.84M
Fetching…
Sources
Revenue
$31.51M
Net income
$-15.29M
Diluted EPS
-0.06
Operating cash flow
$9.03M
Free cash flow
$7.95M
Fetching…
Sources
Revenue
$21.49M
Net income
$-33.97M
Diluted EPS
-0.13
Operating cash flow
$-2.89M
Free cash flow
$-3.90M
Fetching…
Sources
Revenue
$23.38M
Net income
$-13.83M
Diluted EPS
-0.06
Operating cash flow
$-7.17M
Free cash flow
$-8.06M
Fetching…
Sources
Revenue
$21.23M
Net income
$-13.97M
Diluted EPS
-0.06
Operating cash flow
$-11.68M
Free cash flow
$-12.03M
Fetching…
Sources
Revenue
$22.35M
Net income
$-18.10M
Diluted EPS
-0.09
Operating cash flow
$-3.12M
Free cash flow
$-3.53M
Fetching…
Sources
Revenue
$20.56M
Net income
$-16.92M
Diluted EPS
-0.08
Operating cash flow
$-7.92M
Free cash flow
$-8.33M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $7.25
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $105.6M - more cash than debt. Interest coverage -58.0x.
Net debt
$-105.56M
Interest coverage
-58.00x
Butterfly Network, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
BFLY
BASELINE
Butterfly Network, Inc.
Total debt $19.10M Interest coverage -58.00x This is the baseline the peer rows are being compared against.
Total debt $0.00 Interest coverage 8.05x This peer still has a real interest-payment cushion, while BFLY does not.
Total debt $1.70B Interest coverage -112.20x Neither company has much profit cushion over interest right now.
Total debt $1.04B Interest coverage -8.29x Neither company has much profit cushion over interest right now.
What you should know
The case for and against BFLY
1 Reward
1 Risk
Rewards
-
Revenue grew 14.9% last year.
Risks
-
Return on equity was -35.5% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-107.41x
P/B
10.13x
P/S
17.22x
EV/EBITDA
-42.39x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
68.2%
Operating margin
-30.9%
Net margin
-66.7%
ROE
-35.5%
ROA
-10.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.10x
Current ratio
4.06x
Quick ratio
2.89x
Total debt
$19.10M
Total cash
$124.66M
Growth
How the business has been compounding
Revenue TTM
$112.14M
Revenue 5Y CAGR
11.8%
EPS TTM
-0.29
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-24.02M
Free CF TTM
$-16.05M
FCF margin
-14.3%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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