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.
Butterfly Network announced Brazil-wide availability of its handheld ultrasound devices on July 2, signaling a near-term market expansion and potential revenue uplift. The stock jumped 7.2% after the news, aided by generally positive sentiment from Jim Cramer. This catalyst could drive short-term gains for BFLY, contingent on ongoing adoption and broader market demand.
Butterfly Network (BFLY) confirms details of its co-development with Midjourney for a full-body tomographic imaging platform. The prototype uses 40 Ultrasound-on-Chip modules, with plans for more, tied to up to $74 million in payments over five years. The arrangement could broaden Butterfly Embedded opportunities and provide a material long-term revenue driver if the platform achieves market traction.
Butterfly Network has received U.S. regulatory approval for its AI-powered ultrasound tool that estimates gestational age. This breakthrough is expected to expand maternal healthcare access in underserved regions, potentially driving growth and increased market presence for Butterfly Network.