BFLY Stock Analysis: Butterfly Network | NYSE

Medical Devices | NYSE, USA | Market Cap: 1.933m USD | 12M Return: 357.6% | US1241551027 | Charts, Fundamentals & Technical Analysis

Ultrasound Devices, Bladder Scanner, AI Platform, Veterinary
Total Rating 44
Safety 34
Buy Signal 1.28
Medical Devices
Industry Rotation: -16.8
Market Cap: 1.93B
Avg Turnover: 34.3M
Risk 3d forecast
Volatility160%
VaR 5th Pctl23.4%
VaR vs Median-11.2%
Reward TTM
Sharpe Ratio1.74
Rel. Str. IBD99.2
Rel. Str. Peer Group98.3
Character TTM
Beta1.803
Beta Downside0.394
Hurst Exponent0.488
Drawdowns 3y
Max DD72.41%
CAGR/Max DD1.45
CAGR/Mean DD3.76
EPS (Earnings per Share) EPS (Earnings per Share) of BFLY over the last years for every Quarter: "2021-09": -0.23, "2021-12": -0.08, "2022-03": -0.22, "2022-06": -0.18, "2022-09": -0.26, "2022-12": -0.17, "2023-03": -0.16, "2023-06": -0.14, "2023-09": -0.12, "2023-12": -0.21, "2024-03": -0.1, "2024-06": -0.07, "2024-09": -0.05, "2024-12": -0.08, "2025-03": -0.04, "2025-06": -0.03, "2025-09": -0.04, "2025-12": -0.05, "2026-03": -0.03, "2026-06": -0.04,
Last SUE: 0.76
Qual. Beats: 0
Revenue Revenue of BFLY over the last years for every Quarter: 2021-09: 14.621, 2021-12: 18.987, 2022-03: 15.574, 2022-06: 19.215, 2022-09: 19.618, 2022-12: 18.983, 2023-03: 15.476, 2023-06: 18.487, 2023-09: 15.421, 2023-12: 16.516, 2024-03: 17.656, 2024-06: 21.487, 2024-09: 20.561, 2024-12: 22.351, 2025-03: 21.225, 2025-06: 23.383, 2025-09: 21.489, 2025-12: 31.514, 2026-03: 26.53, 2026-06: 32.612,
Rev. CAGR: 20.83%
Rev. Trend: 98.1%
Last SUE: 1.41
Qual. Beats: 1

Warnings

Interest Coverage Ratio Critical
Altman Z'' In Financial Distress Zone
Overextended 3d

Tailwinds

Rs Leader
Idiosyncratic Leader
Avwap Ph Month
Confidence
Ep Pivot

Seasonality 6 years of data

Jan +1.6% 9
Feb -2.8% 10
Mar -11.6% 11
Apr +1.0% 9
May +1.6% 24
Jun -3.5% 10
Jul -1.7% 0
Aug +4.5% 10
Sep -12.4% 11
Oct +3.0% 10
Nov +16.9% 10
Dec +4.6% 10

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: BFLY Butterfly Network

Butterfly Network, Inc. (NYSE: BFLY) is a U.S.-based medical device company that designs, manufactures, and sells ultrasound imaging solutions for both human and veterinary use. Its core product line centers on handheld, single-probe ultrasound devices (Butterfly iQ+ and iQ3) that connect to smartphones, tablets, or hospital computer systems, along with complementary offerings such as the Butterfly Move cart-based system and the iQ+ Bladder specialty scanner. The company also generates revenue from software and services, including Compass AI (a workflow and device-management platform) and ScanLab (an AI-powered educational tool), reflecting a business model that combines hardware sales with recurring software and training revenue.

Butterfly sells through a direct sales force, third-party distributors, and e-commerce channels, and serves customers in the United States and internationally. Founded in 2011 and headquartered in Burlington, Massachusetts, Butterfly operates within the Health Care Equipment sub-industry of the broader medical devices sector, where point-of-care and portable ultrasound represent a growing segment relative to traditional cart-based systems used in hospitals and imaging centers.

Headlines to Watch Out For
  • iQ3 and Move adoption drives handheld ultrasound revenue growth
  • Compass AI and software subscriptions expand recurring high-margin revenue
  • International distribution expansion accelerates geographic revenue diversification
Piotroski VR-10 (Strict) 1.0
Net Income: -74.8m TTM > 0 and > 6% of Revenue
FCF/TA: -0.10 > 0.02 and ΔFCF/TA 0.29 > 1.0
NWC/Revenue: 159.9% < 20% (prev 238.9%; Δ -78.97% < -1%)
CFO/TA -0.08 > 3% & CFO -24.0m > Net Income -74.8m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 4.06 > 1.5 & < 3
Outstanding Shares: last quarter (262.1m) vs 12m ago 8.44% < -2%
Gross Margin: 52.64% > 18% (prev 61.97%; Δ -9.33% > 0.5%)
Asset Turnover: 37.62% > 50% (prev 27.94%; Δ 9.68% > 0%)
Interest Coverage Ratio: -54.96 > 6 (EBIT TTM -73.4m / Interest Expense TTM 1.34m)
Altman Z'' -5.80
A: 0.63 (Total Current Assets 237.9m - Total Current Liabilities 58.6m) / Total Assets 283.0m
B: -3.20 (Retained Earnings -904.8m / Total Assets 283.0m)
C: -0.25 (EBIT TTM -73.4m / Avg Total Assets 298.1m)
D: 2.02 (Book Value of Equity 189.4m / Total Liabilities 93.6m)
Altman-Z'' = -5.80 = D
Beneish M -2.80
DSRI: 1.10 (Receivables 34.6m/24.5m, Revenue 112.1m/87.5m)
GMI: 1.18 (GM 61.97% / 52.64%)
AQI: 0.67 (AQ_t 0.06 / AQ_t-1 0.09)
SGI: 1.28 (Revenue 112.1m / 87.5m)
TATA: -0.18 (NI -74.8m - CFO -24.0m) / TA 283.0m)
Beneish M = -2.80 (Cap -4..+1) = A
What is the price of BFLY shares?

As of September 23, 2026, the stock is trading at USD 9.93 with a total of 19,813,138 shares traded. Over the past week, the price has changed by +27.31%, over one month by +10.95%, over three months by +36.59% and over the past year by +357.60%.

Current recommended Stop Loss: 8.80 (which is 11.4% or 2 ATR below the current price).

Is BFLY a buy, sell or hold?

Butterfly Network has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy BFLY.

  • StrongBuy: 4
  • Buy: 0
  • Hold: 0
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the BFLY price?
Analysts Target Price 10.7 7.5%
Butterfly Network (BFLY) - Fundamental Data Overview as of 17 September 2026
Market Cap USD = 1.93b (1.93b USD * 1.0 USD.USD)
P/S = 17.2388
P/B = 10.9663
Revenue TTM = 112.1m USD
EBIT TTM = -73.4m USD
EBITDA TTM = -66.3m USD
Long Term Debt = 16.3m USD (estimated: total debt 19.1m - short term 2.80m)
Short Term Debt = 2.80m USD (from shortTermDebt, last quarter)
Debt = 19.1m USD (from shortLongTermDebtTotal, last quarter) (leases 19.1m already included)
Net Debt = -105.6m USD (calculated: Debt 19.1m - CCE 124.7m)
Enterprise Value = 1.83b USD (1.93b + Debt 19.1m - CCE 124.7m)
Interest Coverage Ratio = -54.96 (Ebit TTM -73.4m / Interest Expense TTM 1.34m)
EV/FCF = -65.18x (Enterprise Value 1.83b / FCF TTM -28.0m)
FCF Yield = -1.53% (FCF TTM -28.0m / Enterprise Value 1.83b)
FCF Margin = -25.01% (FCF TTM -28.0m / Revenue TTM 112.1m)
Net Margin = -66.74% (Net Income TTM -74.8m / Revenue TTM 112.1m)
Gross Margin = 52.64% ((Revenue TTM 112.1m - Cost of Revenue TTM 53.1m) / Revenue TTM)
Gross Margin QoQ = 71.41% (prev 68.92%)
Tobins Q-Ratio = 6.46 (Enterprise Value 1.83b / Total Assets 283.0m)
Interest Expense / Debt = 7.00% (Interest Expense 1.34m / Debt 19.1m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -58.0m (EBIT -73.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.06 (Total Current Assets 237.9m / Total Current Liabilities 58.6m)
Debt / Equity = 0.10 (Debt 19.1m / totalStockholderEquity, last quarter 189.4m)
 Debt / EBITDA = 1.59 (negative EBITDA) (Net Debt -105.6m / EBITDA -66.3m)
 Debt / FCF = 3.76 (negative FCF - burning cash) (Net Debt -105.6m / FCF TTM -28.0m)
 Total Stockholder Equity = 195.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -25.11% (Net Income -74.8m / Total Assets 283.0m)
RoE = -38.36% (Net Income TTM -74.8m / Total Stockholder Equity 195.1m)
RoCE = -34.74% (EBIT -73.4m / Capital Employed (Equity 195.1m + L.T.Debt 16.3m))
 RoIC = -26.18% (negative operating profit) (NOPAT -58.0m / Invested Capital 221.6m)
 WACC = 12.26% (E(1.93b)/V(1.95b) * Re(12.33%) + D(19.1m)/V(1.95b) * Rd(7.00%) * (1-Tc(0.21)))
Discount Rate = 12.33% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 96.23 | Cagr: 10.62%
 [DCF] Fair Price = unknown (Cash Flow -28.0m)
 EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.76 | # QB: 0
Revenue Correlation: 98.13 | Revenue CAGR: 20.83% | SUE: 1.41 | # QB: 1
EPS current Quarter (2026-09-30): EPS=-0.03 | Chg30d=N/A | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=-0.09 | Chg30d=+0.00% | Revisions=+25% | GrowthEPS=+25.0% | GrowthRev=+24.5%
EPS next Year (2027-12-31): EPS=-0.05 | Chg30d=+16.67% | Revisions=+25% | GrowthEPS=+44.4% | GrowthRev=+22.8%
[Analyst] Revisions Ratio: +50% (up=3, down=0)