Butterfly Network (NYSE:BFLY) - Share price, News & Analysis

BFLY fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	2/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

BFLY Stock Overview

Butterfly Network, Inc., a digital health company, develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally.

Rewards

Revenue is forecast to grow 29.76% per year

Earnings have grown 5.2% per year over the past 5 years

Risk Analysis

Volatile share price over the past 3 months

Significant insider selling over the past 3 months

Shareholders have been diluted in the past year

Butterfly Network Competitors

General Electric

NYSE:GE

US$83.1b

Siemens Healthineers

XTRA:SHL

€61.4b

Hitachi

TSE:6501

JP¥6.4t

Koninklijke Philips

ENXTAM:PHIA

€20.5b

Price History & Performance

Summary of all time highs, changes and price drops for Butterfly Network
Historical stock prices
Current Share Price	US$3.04
52 Week High	US$15.65
52 Week Low	US$2.31
Beta	0
1 Month Change	-16.94%
3 Month Change	-41.09%
1 Year Change	-71.35%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-69.29%

Shareholder Returns

	BFLY	US Medical Equipment	US Market
7D	-0.7%	1.8%	-0.5%
1Y	-71.3%	-15.7%	-12.3%

Return vs Industry: BFLY underperformed the US Medical Equipment industry which returned -16.2% over the past year.

Return vs Market: BFLY underperformed the US Market which returned -12.9% over the past year.

Price Volatility

Is BFLY's price volatile compared to industry and market?
BFLY volatility
BFLY Average Weekly Movement	14.0%
Medical Equipment Industry Average Movement	10.5%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.9%
10% least volatile stocks in US Market	2.9%

Stable Share Price: BFLY is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: BFLY's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2011	463	Todd Fruchterman	https://www.butterflynetwork.com

Butterfly Network, Inc., a digital health company, develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+, a point-of-care ultrasound imaging device that connects with a smartphone, tablet, and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates into a healthcare system’s clinical and administrative infrastructure. The company also provides Butterfly system, which includes probes, and related accessories and software subscriptions, to healthcare systems, physicians, and healthcare providers through a direct sales force, distributors, and eCommerce channel.

Butterfly Network Fundamentals Summary

How do Butterfly Network's earnings and revenue compare to its market cap?
BFLY fundamental statistics
Market Cap	US$604.83m
Earnings (TTM)	-US$76.20m
Revenue (TTM)	US$65.70m

9.2x

P/S Ratio

-7.9x

P/E Ratio

Is BFLY overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
BFLY income statement (TTM)
Revenue	US$65.70m
Cost of Revenue	US$32.17m
Gross Profit	US$33.53m
Other Expenses	US$109.72m
Earnings	-US$76.20m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-0.38
Gross Margin	51.03%
Net Profit Margin	-115.98%
Debt/Equity Ratio	0%

How did BFLY perform over the long term?

See historical performance and comparison

Valuation

Is Butterfly Network undervalued compared to its fair value and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

1.47x

Price to Book (PB) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BFLY's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate BFLY's fair value for valuation analysis.

Price To Earnings Ratio

PE vs Industry: BFLY is unprofitable, so we can't compare its PE Ratio to the US Medical Equipment industry average.

PE vs Market: BFLY is unprofitable, so we can't compare its PE Ratio to the US market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BFLY's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: BFLY is good value based on its PB Ratio (1.5x) compared to the US Medical Equipment industry average (2.4x).

Future Growth

How is Butterfly Network forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

29.8%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BFLY's forecast earnings growth is above the savings rate (1.9%).

Earnings vs Market: Insufficient data to determine if BFLY's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BFLY's revenue (29.8% per year) is forecast to grow faster than the US market (7.8% per year).

High Growth Revenue: BFLY's revenue (29.8% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if BFLY's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Butterfly Network performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

5.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BFLY is currently unprofitable.

Growing Profit Margin: BFLY is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: BFLY is unprofitable, but has reduced losses over the past 5 years at a rate of 5.2% per year.

Accelerating Growth: Unable to compare BFLY's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BFLY is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (16.1%).

Return on Equity

High ROE: BFLY has a negative Return on Equity (-18.46%), as it is currently unprofitable.

Financial Health

How is Butterfly Network's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: BFLY's short term assets ($474.3M) exceed its short term liabilities ($50.7M).

Long Term Liabilities: BFLY's short term assets ($474.3M) exceed its long term liabilities ($72.0M).

Debt to Equity History and Analysis

Debt Level: BFLY is debt free.

Reducing Debt: BFLY had no debt 5 years ago.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: BFLY has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: BFLY has sufficient cash runway for 1.6 years if free cash flow continues to reduce at historical rates of 27.8% each year.

Dividend

What is Butterfly Network current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate BFLY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BFLY's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BFLY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BFLY's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as BFLY has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.2yrs

Average management tenure

CEO

Todd Fruchterman (51 yo)

1.25yrs

Tenure

US$34,878,727

Compensation

Dr. Todd M. Fruchterman, M.D, Ph D., serves as Independent Director at Spindletop Health Acquisition Corp. since November 8, 2021. He has been the Chief Executive Officer and President of Butterfly Network...

CEO Compensation Analysis

Compensation vs Market: Todd's total compensation ($USD34.88M) is above average for companies of similar size in the US market ($USD3.94M).

Compensation vs Earnings: Insufficient data to compare Todd's compensation with company performance.

Leadership Team

Experienced Management: BFLY's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.

Board Members

Experienced Board: BFLY's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: BFLY insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/24 00:00
End of Day Share Price	2022/05/23 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31