(BFLY) Butterfly Network - Overview

Sector: Healthcare | Industry: Medical Devices | Exchange: NYSE (USA) | Market Cap: 1.170m USD | Total Return: 79.5% in 12m

Handheld Ultrasound, Imaging Software, Medical AI, Bladder Scanners
Total Rating 43
Safety 34
Buy Signal 0.73
Medical Devices
Industry Rotation: +5.3
Market Cap: 1.17B
Avg Turnover: 21.0M
Risk 3d forecast
Volatility86.7%
VaR 5th Pctl13.1%
VaR vs Median-8.23%
Reward TTM
Sharpe Ratio1.14
Rel. Str. IBD90.4
Rel. Str. Peer Group93.3
Character TTM
Beta1.389
Beta Downside1.282
Hurst Exponent0.437
Drawdowns 3y
Max DD73.20%
CAGR/Max DD0.33
CAGR/Mean DD0.59
EPS (Earnings per Share) EPS (Earnings per Share) of BFLY over the last years for every Quarter: "2021-03": -0.01, "2021-06": -0.02, "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": -0.02, "2026-03": -0.03,
Last SUE: 1.56
Qual. Beats: 1
Revenue Revenue of BFLY over the last years for every Quarter: 2021-03: 12.443, 2021-06: 16.513, 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,
Rev. CAGR: 16.63%
Rev. Trend: 93.8%
Last SUE: 0.33
Qual. Beats: 0

Warnings

Interest Coverage Ratio -53.0 is critical

Altman Z'' -15.00 < 1.0 - financial distress zone

Choppy

Tailwinds

Rs Leader, Idiosyncratic Leader, Tailwind

Description: BFLY Butterfly Network

Butterfly Network, Inc. (BFLY) specializes in the development and commercialization of semiconductor-based handheld ultrasound devices. Its core product line, including the iQ+ and iQ3, utilizes Ultrasound-on-a-Chip technology to enable whole-body imaging through a single probe connected to mobile devices or hospital systems. The companys ecosystem includes AI-driven software for workflow integration (Compass AI), educational tools (ScanLab), and specialized hardware for bladder scanning and veterinary applications.

The company operates within the Health Care Equipment sector, specifically targeting the point-of-care ultrasound (POCUS) market. Unlike traditional piezoelectric ultrasound systems that rely on expensive crystals, Butterfly’s silicon-based technology allows for lower manufacturing costs and increased portability. Revenue is generated through a hardware-plus-software model, combining one-time device sales with recurring subscription fees for cloud-based image management and AI diagnostic tools.

For a deeper analysis of the companys valuation and market position, consider reviewing the comprehensive data available on ValueRay. Butterfly Network maintains a multi-channel distribution strategy involving direct sales, third-party distributors, and e-commerce platforms to reach global clinical markets.

Headlines to Watch Out For
  • Adoption of iQ3 handheld devices drives hardware revenue and market share growth
  • Expansion of AI-powered software subscriptions increases high-margin recurring revenue streams
  • Regulatory approval timelines for new diagnostic imaging applications impact product rollout
  • High cash burn rate necessitates disciplined capital allocation and path to profitability
  • Strategic partnerships with healthcare systems accelerate clinical workflow integration and sales volume
Piotroski VR-10 (Strict) 1.5
Net Income: -75.8m TTM > 0 and > 6% of Revenue
FCF/TA: -0.07 > 0.02 and ΔFCF/TA 4.28 > 1.0
NWC/Revenue: 175.1% < 20% (prev 251.0%; Δ -75.89% < -1%)
CFO/TA -0.05 > 3% & CFO -14.9m > Net Income -75.8m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 4.02 > 1.5 & < 3
Outstanding Shares: last quarter (256.5m) vs 12m ago 9.19% < -2%
Gross Margin: 49.21% > 18% (prev 0.61%; Δ 4.86k% > 0.5%)
Asset Turnover: 34.06% > 50% (prev 26.89%; Δ 7.17% > 0%)
Interest Coverage Ratio: -52.98 > 6 (EBITDA TTM -67.8m / Interest Expense TTM 1.42m)
Altman Z'' -15.00
A: 0.63 (Total Current Assets 239.8m - Total Current Liabilities 59.6m) / Total Assets 285.9m
B: -3.12 (Retained Earnings -891.9m / Total Assets 285.9m)
C: -0.25 (EBIT TTM -75.3m / Avg Total Assets 302.2m)
D: -9.42 (Book Value of Equity -891.8m / Total Liabilities 94.7m)
Altman-Z'' = -17.60 = D
Beneish M -3.03
DSRI: 1.05 (Receivables 25.2m/19.9m, Revenue 102.9m/85.6m)
GMI: 1.23 (GM 49.21% / 60.65%)
AQI: 0.68 (AQ_t 0.06 / AQ_t-1 0.09)
SGI: 1.20 (Revenue 102.9m / 85.6m)
TATA: -0.21 (NI -75.8m - CFO -14.9m) / TA 285.9m)
Beneish M = -3.03 (Cap -4..+1) = AA
What is the price of BFLY shares?

As of May 27, 2026, the stock is trading at USD 4.54 with a total of 2,998,494 shares traded.
Over the past week, the price has changed by +18.23%, over one month by -17.15%, over three months by -2.78% and over the past year by +79.45%.

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 5.7 25.3%
Butterfly Network (BFLY) - Fundamental Data Overview as of 26 May 2026
Market Cap USD = 1.17b (1.17b USD * 1.0 USD.USD)
P/S = 11.3641
P/B = 6.1161
Revenue TTM = 102.9m USD
EBIT TTM = -75.3m USD
EBITDA TTM = -67.8m USD
Long Term Debt = 17.0m USD (estimated: total debt 19.8m - short term 2.74m)
Short Term Debt = 2.74m USD (from shortTermDebt, last quarter)
Debt = 19.8m USD (from shortLongTermDebtTotal, last quarter) (leases 19.8m already included)
Net Debt = -118.2m USD (calculated: Debt 19.8m - CCE 138.0m)
Enterprise Value = 1.05b USD (1.17b + Debt 19.8m - CCE 138.0m)
Interest Coverage Ratio = -52.98 (Ebit TTM -75.3m / Interest Expense TTM 1.42m)
EV/FCF = -55.74x (Enterprise Value 1.05b / FCF TTM -18.9m)
FCF Yield = -1.79% (FCF TTM -18.9m / Enterprise Value 1.05b)
FCF Margin = -18.33% (FCF TTM -18.9m / Revenue TTM 102.9m)
Net Margin = -73.63% (Net Income TTM -75.8m / Revenue TTM 102.9m)
Gross Margin = 49.21% ((Revenue TTM 102.9m - Cost of Revenue TTM 52.3m) / Revenue TTM)
Gross Margin QoQ = 68.92% (prev 67.34%)
Tobins Q-Ratio = 3.68 (Enterprise Value 1.05b / Total Assets 285.9m)
Interest Expense / Debt = 7.20% (Interest Expense 1.42m / Debt 19.8m)
Taxrate = 21.0% (US default 21%)
NOPAT = -59.5m (EBIT -75.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.02 (Total Current Assets 239.8m / Total Current Liabilities 59.6m)
Debt / Equity = 0.10 (Debt 19.8m / totalStockholderEquity, last quarter 191.2m)
 Debt / EBITDA = 1.74 (negative EBITDA) (Net Debt -118.2m / EBITDA -67.8m)
 Debt / FCF = 6.27 (negative FCF - burning cash) (Net Debt -118.2m / FCF TTM -18.9m)
 Total Stockholder Equity = 206.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -25.08% (Net Income -75.8m / Total Assets 285.9m)
RoE = -6.90% (Net Income TTM -75.8m / Total Stockholder Equity 1.10b)
RoCE = -6.76% (EBIT -75.3m / Capital Employed (Equity 1.10b + L.T.Debt 17.0m))
 RoIC = -52.10% (negative operating profit) (NOPAT -59.5m / Invested Capital 114.2m)
 WACC = 10.78% (E(1.17b)/V(1.19b) * Re(10.87%) + D(19.8m)/V(1.19b) * Rd(7.20%) * (1-Tc(0.21)))
Discount Rate = 10.87% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.56 | Cagr: 9.94%
 [DCF] Fair Price = unknown (Cash Flow -18.9m)
 EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.56 | # QB: 1
Revenue Correlation: 93.77 | Revenue CAGR: 16.63% | SUE: 0.33 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.04 | Chg30d=N/A | Revisions=+20% | Analysts=3
EPS next Quarter (2026-09-30): EPS=-0.04 | Chg30d=N/A | Revisions=+20% | Analysts=3
EPS current Year (2026-12-31): EPS=-0.13 | Chg30d=+10.53% | Revisions=+33% | GrowthEPS=-6.2% | GrowthRev=+21.7%
EPS next Year (2027-12-31): EPS=-0.09 | Chg30d=+7.50% | Revisions=+20% | GrowthEPS=+27.5% | GrowthRev=+19.6%
[Analyst] Revisions Ratio: +33%