Butterfly Network, Inc. (BFLY)
NYSEHealth CareMedical - DevicesSnapshot 2026-09-09
$7.46-0.80%
Close 2026-09-09 · 1-day change
NYSEHealth CareMedical - DevicesSnapshot 2026-09-09
Intact: The reason to own it still holds.
Butterfly Network aims for 20% to 24% revenue growth in 2026. Revenue grew from $21.2M in 2025-Q1 to $26.5M in 2026-Q1. Management plans to cut adjusted EBITDA loss to $21M-$25M in 2026. Gross profit improved from $13.4M to $18.3M in the last year.
The company is losing money and risks delisting from the NYSE. Revenue growth may miss the 20% target, as recent growth was only 17%. Regulatory and reimbursement issues could hurt sales and profits.
The market expects about 24% revenue growth in 2026. Our fair value is near $2.10, but the stock trades much higher, reflecting stretched expectations.
Breaks if: Adjusted EBITDA loss exceeds $25M in FY26
Manage operations to keep adjusted EBITDA loss within the guided range for fiscal year 2026.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
BFLY represents a speculative growth investment with a focus on revenue expansion and partnership development. The current thesis state is intact, though recent performance has shifted from mild favorable to mixed.
The market seems to price in a fragile situation, given the high valuation and the potential for volatility. There is an expectations gap indicating that investors may expect more from BFLY than what is currently justified by its fundamentals.
Management is on track to achieve revenue growth targets, with recent results showing strong year-over-year increases. However, the company remains loss-making, and while there is improvement in adjusted EBITDA loss, this area requires close monitoring.
The thesis hinges on BFLY's ability to maintain its revenue growth trajectory and improve its financial metrics. Additionally, the performance of key sector peers and overall economic conditions will significantly influence BFLY's prospects.
The most important moves since the prior daily snapshot.
Company momentum rose by 25.0 points (from 40.0 to 65.0).
Signal changed from 'mixed' to 'mild_favorable'.
Yes, our read has strengthened. The latest earnings beat supports this view. The company expanded its partnerships and software pipeline. There are no new threats to the thesis.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: Gross profit falls below $13M in Q1 2026
Breaks if: YoY revenue growth falls below 17% in FY26
Continue to grow total revenue with a target of 20% to 26% growth for the full year 2026, driven by Butterfly Embedded partnerships and expanded market reach.
Stated as a priority in 2 of last 2 quarters. Revenue grew from $26.5 million in 2026-Q1 to $32.6 million in 2026-Q2, representing 25% and 39% year-over-year growth respectively. Full year 2026 revenue guidance was raised from $117-$121 million to $119-$123 million, targeting 22% to 26% growth. The trajectory is delivering and management has reiterated this growth target consistently.
“Raised full year Revenue guidance to $119 million to $123 million, or approximately 22% to 26% growth”
“Reaffirmed full year Revenue guidance of $117 million to $121 million, or approximately 20% to 24% growth”
In the next 1 to 3 years, BFLY's performance will depend on its execution against growth targets and external market conditions. Not investment advice.