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WebsiteIntroduction to Butterfly Network Inc
Butterfly Network Inc (ticker: BFLY) is a Burlington, Massachusetts-based medical equipment manufacturer founded in 2011. The company develops handheld, chip-based ultrasound devices that connect to smartphones and tablets, utilizing its patented Ultrasound-on-Chip™ technology to enhance medical imaging accessibility. Butterfly aims to make point-of-care ultrasound (POCUS) available globally, supporting healthcare providers in settings ranging from hospitals to field clinics.
Corporate Structure and Operations
Headquartered in Burlington, MA, Butterfly Network employs between 51 and 200 people. Its integrated hardware, software, and AI-powered platform serves over 145,000 customers worldwide, including hospitals, clinics, and veterinary practices. Key offerings include:
- Butterfly iQ3: A single-probe, whole-body POCUS solution featuring AI-driven imaging tools and a 360° education suite.
- iQ3 Vet: A veterinary-specific version providing versatile presets for small and large animals, designed for durability and rapid diagnostics in various environments.
The company's networkable software solutions can integrate with hospital IT systems, aimed at improving workflows and operational efficiency.
Ultrasound Device by Dima Fedorov
Recent Developments and News
- On October 3, 2025, BFLY shares closed at $2.3150, reflecting an 18.11% increase with a trading volume of 5,446,782 shares on the New York Stock Exchange.
- On August 1, 2025, Butterfly filed its quarterly report on Form 10-Q covering the quarter ended June 30, 2025, along with an 8-K current report detailing Items 2.02 (results of operations), 5.02 (departure of directors or principal officers), and 9.01 (financial statements and exhibits).
- In a Schedule 13G filed on July 17, 2025, BlackRock, Inc. disclosed beneficial ownership of 13,930,579 shares (6.3% of common stock), with sole voting power over 13,673,105 shares.
- The company has highlighted clinical research published in JAMA Network Open and hosted webinars focusing on hospitalist-driven POCUS programs.
Financial and Strategic Analysis
A snapshot of key financial metrics follows:
| Metric | Value |
|---|---|
| Share Price (Oct 3, 2025) | $2.3150 |
| Day Change | +18.11% |
| 52-Week Range | $1.32 – $4.98 |
| Market Capitalization | $493.41 M |
| Revenue (TTM) | $87.5 M |
| Net Income (TTM) | –$62.8 M |
| Cash and Cash Equivalents (MRQ) | $148.1 M |
| Earnings Per Share (Diluted, TTM) | –$0.28 |
| Price/Sales (TTM) | 5.09× |
| Price/Book (MRQ) | 2.12× |
Butterfly reports ongoing net losses, attributed to continued investment in research, development, and sales. The cash position of $148 million supports ongoing product development and potential market expansion. Future initiatives are focused on software integration, enhancements in AI capabilities, and forming global distribution partnerships.
Market Position and Industry Context
Butterfly Network operates in the point-of-care ultrasound segment of the broader medical imaging market. Key industry dynamics include:
- Competition: Presence of established ultrasound vendors and emerging manufacturers of handheld devices.
- Regulation: FDA approvals and international medical device standards influence product launch timelines.
- Technology Trends: Growth in AI-assisted diagnostics and integration with telehealth platforms.
- Customer Demand: Increasing adoption in emergency medicine, primary care, and veterinary practices, emphasizing the need for portability and cost-effective POCUS solutions.
Butterfly’s chip-based probe and comprehensive software suite create differentiation from conventional cart-mounted systems. Strategic partnerships with healthcare institutions are intended to showcase clinical and economic benefits.
tl;dr
On October 3, 2025, Butterfly Network’s stock increased by 18.11% to $2.3150 amid high trading volume. The company reported its Q2 2025 results on August 1, 2025, and BlackRock holds a 6.3% stake as of July 17, 2025. Butterfly had $148 million in cash, trailing twelve-month revenue of $87.5 million, and a TTM net loss of $62.8 million as of the latest filings, with plans for global expansion of its POCUS platform. The forthcoming earnings date is October 30, 2025, with a consensus one-year target of $3.17, indicating investor interest in upcoming operational updates and product developments.
