A Business at a Glance
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Butterfly is the pioneer of the Ultrasound-on-Chip™ semiconductor platform and a leader in semiconductor-based point-of-care ultrasound technology. We combine proprietary hardware, intuitive software, services and educational offerings that can make ultrasound more accessible than ever before. Our flagship point-of-care solution enables the practical application of ultrasound information into the clinical workflow through affordable ultrasound devices that fit in a healthcare professional’s pocket and pair with cloud-connected software that is easily accessed through a mobile application. While Butterfly’s core commercial business is in the point-of-care ultrasound (“POCUS”) category, our technology is fundamentally different from incumbent POCUS devices, which we view as mere extensions of cart-based hospital workflows. In contrast, Butterfly’s devices are built on our one-of-a-kind Ultrasound-on-Chip™ semiconductor platform.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 98M | 98M | 82M | - | - | 63M |
| Net Income | -77M | -77M | -72M | -134M | -169M | -32M |
| EPS | $-0.31 | $-0.31 | $-0.34 | $-0.65 | $-0.84 | $-0.19 |
| Free Cash Flow | -16M | -16M | -44M | -105M | -187M | -197M |
| ROIC | -150.1% | -39.3% | -42.9% | -60.8% | -51.9% | -7.2% |
| Gross Margin | 46.9% | 46.9% | 59.5% | - | - | 27.3% |
| Debt/Equity | 0.00 | 0.51 | 0.52 | 0.38 | 0.28 | 0.28 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -86M | -86M | -74M | -146M | -193M | -193M |
| Operating Margin | -88.5% | -88.5% | -90.7% | - | - | -308.0% |
| ROE | -39.3% | -42.2% | -42.9% | -60.8% | -51.9% | -7.2% |
| Shares Outstanding | 249M | 249M | 213M | 206M | 201M | 171M |
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | N/A | N/A | 63M | N/A | N/A | 82M | 98M | 98M |
| Gross Margin | N/A | N/A | 27.3% | N/A | N/A | 59.5% | 46.9% | 46.9% |
| R&D | 49M | 50M | 74M | 88M | 56M | 38M | 36M | 36M |
| SG&A | 18M | 24M | 86M | 78M | 50M | 40M | 39M | 39M |
| EBIT | -102M | -162M | -193M | -193M | -146M | -74M | -86M | -86M |
| Op. Margin | N/A | N/A | -308.0% | N/A | N/A | -90.7% | -88.5% | -88.5% |
| Net Income | -100M | -163M | -32M | -169M | -134M | -72M | -77M | -77M |
| Net Margin | N/A | N/A | -51.8% | N/A | N/A | -88.3% | -79.0% | -79.0% |
| Non-Recurring | 0 | 1.4M | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | N/A | -86.7% | -7.2% | -51.9% | -60.8% | -42.9% | -39.3% | -150.1% |
| ROE | N/A | N/A | -7.2% | -51.9% | -60.8% | -42.9% | -42.2% | -39.3% |
| ROA | N/A | -222.5% | -5.7% | -40.4% | -43.9% | -28.3% | -27.9% | -26.0% |
| Cash Flow | ||||||||
| Op. Cash Flow | -120M | -82M | -189M | -169M | -99M | -42M | -13M | -13M |
| Free Cash Flow | -125M | -84M | -197M | -187M | -105M | -44M | -16M | -16M |
| Owner Earnings | -127M | -94M | -239M | -218M | -137M | -73M | -44M | -44M |
| CapEx | 4.5M | 2.4M | 7.9M | 18M | 5.8M | 2.7M | 3.3M | 3.3M |
| Maint. CapEx | 758K | 1.3M | 2.1M | 5.9M | 11M | 10M | 8.1M | 8.1M |
| Growth CapEx | 3.7M | 1.1M | 5.8M | 12M | 0 | 0 | 0 | 0 |
| D&A | 758K | 1.3M | 2.1M | 5.9M | 11M | 10M | 8.1M | 8.1M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 6.0M | 11M | 48M | 43M | 27M | 21M | 23M | 23M |
| Debt Repayment | 0 | 1.5M | 4.4M | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||||
| Net Debt | N/A | -56M | N/A | N/A | N/A | N/A | N/A | -150M |
| Cash & Equiv. | 90M | 60M | 423M | 163M | 134M | 89M | 150M | 150M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | -0.02 | -0.01 | 0.28 | 0.28 | 0.38 | 0.52 | 0.51 | 0.00 |
| Interest Coverage | N/A | -141.6 | -296.0 | -96510.0 | N/A | -59.0 | -58.0 | -58.0 |
| Equity | -212M | -362M | 448M | 325M | 220M | 169M | 196M | 196M |
| Total Assets | -931K | 147M | 572M | 418M | 304M | 256M | 297M | 297M |
| Total Liabilities | 4.4M | 509M | 124M | 92M | 84M | 87M | 101M | 101M |
| Intangibles | N/A | N/A | N/A | N/A | 21M | 18M | 15M | 15M |
| Retained Earnings | N/A | -395M | -427M | -596M | -730M | -802M | -879M | -879M |
| Working Capital | N/A | 28M | 462M | 306M | 187M | 144M | 184M | 184M |
| Current Assets | N/A | 97M | 512M | 357M | 231M | 193M | 249M | 249M |
| Current Liabilities | N/A | 70M | 50M | 51M | 44M | 48M | 65M | 65M |
| Per Share Data | ||||||||
| EPS | -17.08 | -26.87 | -0.19 | -0.84 | -0.65 | -0.34 | -0.31 | -0.31 |
| Owner EPS | -21.80 | -15.52 | -1.40 | -1.08 | -0.67 | -0.34 | -0.18 | -0.18 |
| Book Value | -36.37 | -59.76 | 2.62 | 1.62 | 1.07 | 0.79 | 0.79 | 0.79 |
| Cash Flow/Share | -20.63 | -13.49 | -1.11 | -0.84 | -0.48 | -0.20 | -0.05 | -0.28 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 5.8M | 6.1M | 170.6M | 200.9M | 205.7M | 213.2M | 248.6M | 248.6M |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -14.3 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 2.6 | 1.4 | 1.1 | 4.4 | 4.9 | 5.6 |
| Price/Sales | N/A | N/A | 36.9 | N/A | N/A | 3.8 | 6.5 | 11.3 |
| FCF Yield | N/A | -63.2% | -16.6% | -41.1% | -42.7% | -6.0% | -1.7% | -1.5% |
| Market Cap | N/A | 133M | 1.2B | 456M | 245M | 738M | 957M | 1.1B |
| Avg. Price | N/A | 11.19 | 13.53 | 4.51 | 1.88 | 1.46 | 2.55 | 4.44 |
| Year-End Price | N/A | 21.97 | 6.95 | 2.27 | 1.19 | 3.46 | 3.85 | 4.44 |
Butterfly Network, Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 44.5%.
Butterfly Network, Inc. (BFLY) has a 5-year average return on invested capital (ROIC) of -40.4%. This is below average and may indicate limited pricing power.
Butterfly Network, Inc. (BFLY) has a market capitalization of $1.1B. It is classified as a small-cap stock.
Butterfly Network, Inc. (BFLY) does not currently pay a regular dividend.
Butterfly Network, Inc. (BFLY) operates in the X-Ray Apparatus & Tubes & Related Irradiation Apparatus industry, within the Healthcare sector.
Butterfly Network, Inc. (BFLY) reported annual revenue of $98 million in its most recent fiscal year, based on SEC EDGAR filings.
Butterfly Network, Inc. (BFLY) has a net profit margin of -79.0%. The company is currently unprofitable.
Butterfly Network, Inc. (BFLY) generated $-16 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Butterfly Network, Inc. (BFLY) has a debt-to-equity ratio of 0.51. This indicates moderate leverage.
Butterfly Network, Inc. (BFLY) reported earnings per share (EPS) of $-0.31 in its most recent fiscal year.
Butterfly Network, Inc. (BFLY) has a return on equity (ROE) of -42.2%. A negative ROE may indicate losses or negative equity.
Butterfly Network, Inc. (BFLY) has a 5-year average gross margin of 44.5%. This indicates decent pricing power.
The Ledger Terminal provides 7 years of financial data for Butterfly Network, Inc. (BFLY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Butterfly Network, Inc. (BFLY) has a book value per share of $0.79, based on its most recent annual SEC filing.