Butterfly Network, Inc. (BFLY) AI Stock Analysis

Butterfly Network, Inc. is a digital health company that develops, manufactures, and distributes ultrasound imaging solutions. Its primary products include the Butterfly iQ and Butterfly iQ+ handheld ultrasound systems, which connect to smartphones, tablets, and hospital computer systems to enable whole-body imaging using a single probe. The company also offers the Butterfly Blueprint platform featuring Compass software, which integrates into healthcare systems' administrative and clinical infrastructure. Revenue is generated through direct sales, distributors, and eCommerce for hardware, accessories, and cloud-based software subscriptions, including teleguidance, tutorials, and training through Butterfly Academy.

Revenue grew from $62.6M in FY2021 to $97.6M in FY2025, reflecting a 5-year compound annual growth rate of 16.1%. Annual revenue expanded 19.0% in FY2025, following a 24.5% rise to $82.1M in FY2024 and a 10.2% drop to $65.9M in FY2023. Gross margin stood at 46.9% in FY2025, down from 59.5% in FY2024. Operating margins improved from -308.0% in FY2021 to -88.5% in FY2025 and -30.9% over the trailing twelve months. Net income was -$77.1M in FY2025, resulting in an EPS of -$0.16. For the trailing twelve months ended June 30, 2026, revenue totaled $112.1M, supported by 39.5% year-over-year quarterly revenue growth.

As of June 30, 2026, Butterfly Network held $124.7M in cash and short-term investments against $19.1M in total debt, leaving net cash of $105.6M. Total assets stood at $283.0M and shareholders' equity was $189.4M, supporting a current ratio of 4.06 and a debt-to-equity ratio of 0.10. Operating cash flow was -$12.7M in FY2025, while free cash flow reached -$16.0M. Capital expenditures were $3.3M in FY2025, and common share count increased 32.4% over five years.

Butterfly Network trades at a price-to-sales multiple of 17.2x and an enterprise value to revenue multiple of 20.9x, based on a market cap of $1.93B and enterprise value of $2.34B. Its price-to-sales multiple sits well above the 4.1x median of its US-listed Healthcare peers. The stock closed at $7.25 on October 16, 2026, gaining 223.7% over the past year compared to a 16.8% return for the S&P 500. Over five years, the stock is down 31.9% versus an 83.0% gain for the index.

Wall Street coverage consists of 6 Strong Buy ratings, 1 Buy rating, and 0 Hold, Sell, or Strong Sell ratings. The mean price target of $11.17 implies 54.0% upside from the October 16, 2026 closing price of $7.25. Butterfly Network has beaten EPS estimates in each of the last 4 quarters. For the current fiscal year ending December 31, 2026, consensus projects revenue of $121.7M and EPS of -$0.09. Next earnings are scheduled for October 29, 2026.

This page is an AI-written research summary of Butterfly Network, Inc. (BFLY). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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