Butterfly Network (NYSE:BFLY) shares dipped today on fourth-quarter results that came in ahead of the consensus forecast.
Shares of BFLY fell nearly 3% to $3.63 apiece in mid-morning trading today.
The Burlington, Massachusetts-based handheld ultrasound company reported losses of $18.1 million. That equals 8¢ per share on sales of $22.35 million for the three months ended Dec. 31, 2024.
Butterfly Network recorded a nearly 60% bottom-line gain on a sales increase of 35.3%.
Adjusted to exclude one-time items, losses per share came in at 5¢. That landed 3¢ ahead of estimates on Wall Street. Sales also topped expectations as experts forecast $21.97 million in revenue.
Recent highlights for Butterfly Network include a significant fundraising round, bringing in net proceeds of $81.7 million.
“As we enter 2025, Butterfly steps into its next era,” said Joseph DeVivo, Butterfly’s president, CEO and chair. “With strong revenue momentum, a successful capital raise, and a reinforced financial position, we have the ability to invest in strategic initiatives while maintaining a clear path to cash flow independence. We are advancing our vision of making AI-powered, point-of-care ultrasound more accessible – putting our technology into the hands of doctors, nurses, and eventually, qualified chronic care patients worldwide. With control over our future, we are well-positioned to scale in 2025 and beyond.”
Butterfly Network expects adjusted 2025 sales to range between $96 million and $100 million, meaning approximately 20% growth.
