Butterfly Network beats estimates, raises full-year guidance on embedded partnerships
Solid beat, raised guidance, and a cash-rich balance sheet imply better near-term fundamentals and potential multiple expansion for BFLY, despite ongoing losses.
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Solid beat, raised guidance, and a cash-rich balance sheet imply better near-term fundamentals and potential multiple expansion for BFLY, despite ongoing losses.
What happened, with direct paths to the underlying reporting
Butterfly reported Q2 revenue of $32.51M, rising 39% year over year, and an adjusted loss of $0.01 per share, better than the $0.06 consensus loss. The beat was driven by Butterfly Embedded partnerships, including a Midjourney co-development tie-up, and left the company with $124.7M in cash. Management raised full-year guidance and issued a stronger Q3 target, supporting a near-term rally.
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