Butterfly Network (NYSE:BFLY) Announces Quarterly Earnings Results

Butterfly Network (NYSE:BFLY) released its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05, Zacks reports. The company had revenue of $17.66 million during the quarter, compared to analysts’ expectations of $17.13 million. Butterfly Network had a negative return on equity of 47.83% and a negative net margin of 179.09%. During the same period last year, the firm posted ($0.17) earnings per share. Butterfly Network updated its FY 2024 guidance to EPS.

Butterfly Network Price Performance

Butterfly Network stock traded up $0.02 during mid-day trading on Friday, hitting $0.94. 5,072,531 shares of the company’s stock traded hands, compared to its average volume of 1,513,667. The firm has a 50 day simple moving average of $1.01 and a two-hundred day simple moving average of $1.01. Butterfly Network has a fifty-two week low of $0.67 and a fifty-two week high of $2.71. The stock has a market cap of $196.33 million, a price-to-earnings ratio of -1.63 and a beta of 2.10.

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.