Butterfly Network, Inc. Stock Research

Market Summary

USD1.96+0.02

Delayed

1.03%

BFLY Stock Price

BFLY RSI Chart

BFLY Valuation

Market Cap

392.3M

Price/Earnings (Trailing)

-2.61

Price/Sales (Trailing)

5.35

EV/EBITDA

-1.37

Price/Free Cashflow

-1.93

BFLY Price/Sales (Trailing)

BFLY Profitability

Operating Margin

51.02%

EBT Margin

-204.54%

Return on Equity

-43.72%

Return on Assets

-33.89%

Free Cashflow Yield

-51.81%

BFLY Fundamentals

BFLY Revenue

Revenue (TTM)

73.4M

Revenue Y/Y

34.18%

Revenue Q/Q

2.1%

BFLY Earnings

Earnings (TTM)

-150.2M

Earnings Y/Y

-303.67%

Earnings Q/Q

-52.91%

Price Action

52 Week Range

1.828.72

(Low)(High)

Last 7 days

-0.5%

Last 30 days

-14.0%

Last 90 days

-17.0%

Trailing 12 Months

-60.1%

BFLY Financial Health

Current Ratio

8.12

BFLY Investor Care

Shares Dilution (1Y)

2.08%

Diluted EPS (TTM)

-0.76

Financials for Butterfly Network

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	7.3%	73,394,000	68,397,000	65,695,000	62,565,000	59,232,000
Gross Profit	75.5%	37,443,000	21,332,000	18,980,000	17,054,000	18,213,000
Operating Expenses	2.3%	226,768,000	221,612,000	207,492,000	209,782,000	187,846,000
S&GA Expenses	2.6%	62,505,000	60,897,000	54,999,000	49,604,000	43,406,000
R&D Expenses	1.7%	89,999,000	88,499,000	82,367,000	74,461,000	67,769,000
EBITDA	-99.2%	-145,368,000	-72,960,000	-29,547,000	122,431,784	-
EBITDA Margin	-78.3%	-1.98	-1.11	-0.47	2.07	-
Earnings Before Taxes	-37.8%	-150,120,000	-108,969,000	-76,082,000	-32,288,000	-40,056,000
EBT Margin	-28.4%	-2.05	-1.59	-1.16	-0.52	2.01
Interest Expenses	-97.5%	16,000	651,000	1,368,000	-	-
Net Income	-37.8%	-150,236,000	-109,055,000	-76,196,000	-32,409,000	-40,135,000
Net Income Margin	-28.4%	-2.05	-1.59	-1.16	-0.52	-3.03
Free Cahsflow	0.9%	-203,264,000	-205,113,000	-191,088,000	-197,064,000	-150,637,503

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	-10.7%	443	497	535	572	580
Current Assets	-12.5%	372	426	474	512	544
Cash Equivalents	-37.8%	193	311	360	423	153
Inventory	-12.1%	58.00	66.00	48.00	36.00	24.00
Net PPE	9.8%	31.00	29.00	23.00	15.00	9.00
Liabilities	-9.4%	100	110	123	124	129
Current Liabilities	-26.2%	46.00	62.00	51.00	50.00	45.00
Shareholder's Equity	-11.1%	344	387	413	448	451
Retained Earnings	-10.8%	-562	-507	-471	-427	-412
Additional Paid-In Capital	1.3%	906	894	884	875	863
Accumulated Depreciation	-	5.00	-	-	-	-
Shares Outstanding	0.4%	200	199	199	196	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	2.4%	-183	-187	-179	-189	-167
Share Based Compensation	-3.5%	36.00	38.00	36.00	48.00	42.00
Cashflow From Investing	-53.6%	219	471	514	-9.87	-319
Cashflow From Financing	-52.1%	5.00	11.00	16.00	566	592

Risks for BFLY

What is the probability of a big loss on BFLY?

77.3%

Probability that Butterfly Network stock will be more than 20% underwater in next one year

76.6%

Probability that Butterfly Network stock will be more than 30% underwater in next one year.

72.3%

Probability that Butterfly Network stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does BFLY drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Butterfly Network was unfortunately bought at previous high price.

Drawdowns

Returns for BFLY

Cumulative Returns on BFLY

Which funds bought or sold BFLY recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	new	-	25,584	25,584	-%
2023-03-10	BAILLIE GIFFORD & CO	added	2.5	-4,528,530	5,241,470	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-0.04	-36,367	39,633	-%
2023-03-06	Rockefeller Capital Management L.P.	added	1,600	18,000	20,000	-%
2023-02-28	Voya Investment Management LLC	unchanged	-	-114,704	126,296	-%
2023-02-24	SRS Capital Advisors, Inc.	added	11.31	-395	605	-%
2023-02-24	Bridgewealth Advisory Group, LLC	new	-	73,830	73,830	0.14%
2023-02-21	Wallace Advisory Group, LLC	new	-	25,427	25,427	0.02%
2023-02-21	MACQUARIE GROUP LTD	sold off	-	-12,000	-	-%
2023-02-17	Compass Wealth Management LLC	new	-	1,230	1,230	-%

Latest Funds Activity

Are funds buying BFLY calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own BFLY

No. of Funds

Butterfly Network News

Schedule 13G FIlings of Butterfly Network

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	fosun industrial co., ltd	6.2%	10,716,630	SC 13G/A
Feb 14, 2023	glenview capital management, llc	5.54%	9,746,834	SC 13D/A
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	6.92%	12,052,848	SC 13G/A
Feb 01, 2023	blackrock inc.	6.0%	10,448,729	SC 13G/A
Sep 16, 2022	rothberg jonathan m	6.05%	10,479,298	SC 13D/A
Mar 28, 2022	rothberg jonathan m	6.1%	10,409,422	SC 13D/A
Mar 11, 2022	longview investors llc	2.89%	4,964,751	SC 13D/A
Feb 09, 2022	vanguard group inc	7.72%	13,179,593	SC 13G
Feb 09, 2022	fmr llc	-	0	SC 13G

BFLY Fair Value

Butterfly Network fair value in different scenarios

The table shows the Fair Value estimates for Butterfly Network for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	0.47 -76.02%	0.53 -72.96%	0.65 -66.84%	0.79 -59.69%	0.94 -52.04%
Current Inflation	0.47 -76.02%	0.52 -73.47%	0.62 -68.37%	0.75 -61.73%	0.88 -55.10%
Very High Inflation	0.46 -76.53%	0.51 -73.98%	0.59 -69.90%	0.70 -64.29%	0.80 -59.18%

Historical Butterfly Network Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Butterfly Network

View All Filings

Date Filed	Form Type	Document
Mar 24, 2023	4	Insider Trading
Mar 23, 2023	10-K	Annual Report
Mar 17, 2023	424B3	Prospectus Filed
Mar 17, 2023	424B3	Prospectus Filed
Mar 17, 2023	8-K	Current Report
Mar 10, 2023	8-K	Current Report
Mar 07, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading

Latest Insider Trading transactions for BFLY

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-06	Stoica Andrei G	sold	-71,892	2.2491	-31,965	chief technology officer
2023-03-01	Getz Heather C	acquired	-	-	885,000	evp & chief financial officer
2023-03-01	Stoica Andrei G	acquired	-	-	690,000	chief technology officer
2023-03-01	Weiss Lawrence T	acquired	-	-	626,000	clo, gc and corp sec
2023-02-13	Martin John David	sold	-11,683	2.4135	-4,841	chief medical officer
2023-01-03	Stoica Andrei G	back to issuer	-3,540	2.4036	-1,473	chief technology officer
2022-12-19	Shahida Darius	sold	-63,445	2.3599	-26,885	chief strategy/bus dev officer
2022-12-14	Quander Troy	sold	-980	2.6214	-374	svp, regulatory and quality
2022-10-03	Stoica Andrei G	sold	-22,740	4.7613	-4,776	chief technology officer
2022-09-19	Shahida Darius	sold	-110,630	5.4933	-20,139	chief strategy/bus dev officer

About Butterfly Network

Todd M. Fruchterman

www.butterflynetwork.com

460

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. In addition, it offers cloud-based software solutions to healthcare systems, teleguidance, in-app educational tutorials, and formal education programs through its Butterfly Academy software, as well as clinical support and services. Butterfly Network, Inc. was incorporated in 2011 and is headquartered in Guilford, Connecticut.

BFLY Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Total revenue	$ 73,390	$ 62,565	$ 46,252
Cost of revenue:
Total cost of revenue	33,930	45,511	107,475
Gross profit (loss)	39,460	17,054	(61,223)
Operating expenses:
Research and development	89,121	74,461	49,738
Sales and marketing	59,888	49,604	26,263
General and administrative	83,471	85,717	24,395
Total operating expenses	232,480	209,782	100,396
Loss from operations	(193,020)	(192,728)	(161,619)
Interest income	3,384	2,573	285
Interest expense	(2)	(651)	(1,141)
Change in fair value of warrant liabilities	20,859	161,095
Other income (expense), net	98	(2,577)	(231)
Loss before provision for income taxes	(168,681)	(32,288)	(162,706)
Provision for income taxes	42	121	39
Net loss and comprehensive loss	$ (168,723)	$ (32,409)	$ (162,745)
Net loss per common share - basic	$ (0.84)	$ (0.19)	$ (26.87)
Net loss per common share - diluted	$ (0.84)	$ (0.19)	$ (26.87)
Weighted-average common shares outstanding - basic	199,848,386	173,810,053	6,056,574
Weighted-average common shares outstanding - diluted	199,848,386	173,810,053	6,056,574
Product
Revenue:
Total revenue	$ 50,263	$ 47,868	$ 38,347
Cost of revenue:
Total cost of revenue	26,804	29,308	46,294
Software and other services
Revenue:
Total revenue	23,127	14,697	7,905
Cost of revenue:
Total cost of revenue	$ 7,126	2,238	1,068
Loss on product purchase commitments
Cost of revenue:
Total cost of revenue		$ 13,965	$ 60,113

BFLY Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 162,561	$ 422,841
Marketable securities	75,250
Accounts receivable, net	14,685	11,936
Inventories	59,970	36,243
Current portion of vendor advances	35,182	27,500
Prepaid expenses and other current assets	9,489	13,384
Total current assets	357,137	511,904
Property and equipment, net	31,331	14,703
Non-current portion of vendor advances		12,782
Operating lease assets	21,567	24,083
Other non-current assets	7,535	8,493
Total assets	417,570	571,965
Current liabilities:
Accounts payable	7,211	5,798
Deferred revenue, current	15,856	13,071
Accrued purchase commitments, current	2,146	5,329
Accrued expenses and other current liabilities	26,116	25,631
Total current liabilities	51,329	49,829
Deferred revenue, non-current	4,957	5,476
Warrant liabilities	5,370	26,229
Accrued purchase commitments, non-current		14,200
Operating lease liabilities	29,966	27,690
Other non-current liabilities	588	850
Total liabilities	92,210	124,274
Commitments and contingencies (Note 19)
Stockholders' equity:
Additional paid-in capital	921,278	874,886
Accumulated deficit	(595,938)	(427,215)
Total stockholders' equity	325,360	447,691
Total liabilities and stockholders' equity	417,570	571,965
Class A Common Stock
Stockholders' equity:
Common stock	17	17
Class B Common Stock
Stockholders' equity:
Common stock	$ 3	$ 3