Butterfly Network Second Quarter 2024 Earnings: Beats Expectations

Butterfly Network (NYSE:BFLY) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$21.5m (up 16% from 2Q 2023).
• Net loss: US$15.7m (loss narrowed by 45% from 2Q 2023).
• US$0.074 loss per share (improved from US$0.14 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Butterfly Network Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 9.8%. Earnings per share (EPS) also surpassed analyst estimates by 30%.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Medical Equipment industry in the US.

Performance of the American Medical Equipment industry.

The company's shares are up 6.6% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Butterfly Network, and understanding these should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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