Butterfly Network (BFLY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Butterfly Network

NYSE•Healthcare•Medical Devices

$7.52+0.16(0.02%)Pre-market

Market Cap

$2.09B

P/S

18.6x

P/B

11.0x

Butterfly Network, Inc. develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. The company offers Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging on a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; Butterfly Move, merging the mobility of a handheld with the stability of a full cart system; and iQ+ Bladder, a specialty product for bladder scanning market. It also provides Compass AI which offers one system to connect every device, workflow, and department; ScanLab, an AI-powered educational platform that provides written walkthroughs and reference imagery to guide real-time educational scanning; and Butterfly iQ+/iQ3 Vet, a third generation handheld ultrasound system. It sells and markets its products through a direct sales force, distributors, and e-commerce channels. Butterfly Network, Inc. was founded in 2011 and is headquartered in Burlington, Massachusetts.

How this company scores

WeakMetricSide Score: 41/100

Grade capped at D — Interest coverage below 1× (-70.4x) — earnings cannot cover interest. Strongest: Growth (16/25); weakest: Cash & Earnings Quality (7/25).

Profitability11/25

Growth16/25

Balance Sheet & Red Flags7/25

Cash & Earnings Quality7/25

Strengths

Growing revenueLong cash runwayConsistent growthNet cash position

Grade capped at D

Interest coverage below 1× (-70.4x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 18.6x5y range 2.5x – 45.9x

Currently above its 20-quarter median.

P/B · 11.0x5y range 0.9x – 11.0x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $2.09B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $112.14M
Q. Revenue: $32.61M
TTM EBITDA: $-72.27M
TTM Op. Income: $-79.38M
Q. Op. Income: $-13.66M
TTM Net Income: $-74.85M
Q. Net Income: $-12.91M
EPS: $-0.05
Shares Out.: $262.10M

$112.14M in TTM revenue grew 28.1% YoY, reaching $32.61M last quarter. TTM EBITDA of $-72.27M and TTM operating income of $-79.38M show growth is flowing through to the bottom line. However, net income is negative at $74.85M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 71.4%
EBITDA Margin: -36.8%
Op. Margin: -41.9%
Net Margin: -39.6%

Op. margin of -41.9% is up 27.0% YoY — cost efficiency is improving. Net margin at -39.6% and gross margin of 71.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 18.6x
P/B Ratio: 11.0x

P/S of 18.6x and P/B of 11.0x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $283.00M
Cash: $124.66M
Long-Term Debt: N/A
Book Value: $189.40M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-16.27M
TTM Free Cash Flow: $-28.04M
FCF Margin: -25.0%
FCF / Net Income: 0.4

TTM FCF of $-28.04M on $-16.27M in operating cash flow. The FCF / Net Income ratio of 0.4x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.