Butterfly Network (NYSE:BFLY) Announces Earnings Results, Beats Estimates By $0.03 EPS

Butterfly Network (NYSE:BFLY - Get Free Report) issued its quarterly earnings data on Friday. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03, Zacks reports. The firm had revenue of $21.23 million during 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 3.9 %

Shares of NYSE:BFLY traded up $0.09 during trading on Thursday, hitting $2.27. The stock had a trading volume of 2,829,171 shares, compared to its average volume of 2,888,194. The company has a market capitalization of $550.22 million, a PE ratio of -4.92 and a beta of 2.59. The firm's fifty day moving average is $2.45 and its 200 day moving average is $3.07. Butterfly Network has a 12 month low of $0.82 and a 12 month high of $4.98.

Analysts Set New Price Targets

A number of analysts recently commented on the company. William Blair initiated coverage on Butterfly Network in a research note on Monday, March 17th. They issued an "outperform" rating for the company. Lake Street Capital dropped their target price on shares of Butterfly Network from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Monday.

Insider Activity at Butterfly Network

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

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.