Butterfly Network (NYSE:BFLY) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Butterfly Network (NYSE:BFLY - Get Free Report) announced its quarterly earnings data on Friday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03, Zacks reports. The business had revenue of $21.23 million for the quarter, compared to the consensus estimate of $21.16 million. Butterfly Network had a negative net margin of 129.25% and a negative return on equity of 42.68%. Butterfly Network updated its FY 2025 guidance to EPS.

Butterfly Network Stock Up 5.0 %

BFLY traded up $0.11 during trading on Thursday, reaching $2.29. 2,285,536 shares of the company's stock were exchanged, compared to its average volume of 2,881,859. The company has a market capitalization of $556.29 million, a P/E ratio of -4.98 and a beta of 2.59. The business has a 50 day moving average price of $2.47 and a 200 day moving average price of $3.07. Butterfly Network has a fifty-two week low of $0.82 and a fifty-two week high of $4.98.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Lake Street Capital dropped their price objective on shares of Butterfly Network from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Monday. William Blair started coverage on Butterfly Network in a research note on Monday, March 17th. They set an "outperform" rating on the stock.

Insider Activity

In related news, CEO Joseph Devivo sold 320,215 shares of the company's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $2.44, for a total value of $781,324.60. Following the sale, the chief executive officer now owns 7,249,789 shares of the company's stock, valued at $17,689,485.16. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Heather C. Getz sold 65,456 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $2.20, for a total transaction of $144,003.20. Following the completion of the transaction, the executive vice president now directly owns 2,919,274 shares of the company's stock, valued at $6,422,402.80. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 27.28% of the company's stock.

About Butterfly Network

Butterfly Network, Inc develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging in a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; and Butterfly iQ+ Vet, a handheld ultrasound system designed for veterinarians.