BFLY shares closed the day up 12.1% at $11.70 and continued to tick up after hours, rising 0.9% at $11.80. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down -0.3%.
The Guilford, Conn.-based company posted losses of -$2.9 million on sales of $16.5 million for the three months ended June 30, 2021, for an 87.3% bottom-line gain on sales growth of 40%.
Earnings per share came in at -2¢, 22¢ ahead of projections on Wall Street, where analysts were looking for sales of $14.5 million.
“As we continue our journey as a public company, we achieved another quarter of strong revenue growth, while driving progress against our foundational goals.” Butterfly Network president & CEO Dr. Todd Fruchterman said in a news release. “Our commercial expansion in the U.S. and international markets reflects broad interest in Butterfly across a variety of use-cases and settings. Building for long-term growth, we also made leadership appointments adding expertise in innovation and IT infrastructure.
“Butterfly makes it possible to democratize imaging. With Butterfly, information is more accessible, reliable, and usable for providers and patients, enabling more informed decision making at the point of care.”
Butterfly Network did not provide financial guidance for the coming quarters or the full 2021 financial year.