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Butterfly Network, Inc. (BFLY) 10-Year Financial Performance & Capital Metrics

BFLY • • Industrial / General
HealthcareMedical DevicesDiagnostic & Imaging EquipmentMedical Imaging Systems
AboutButterfly 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.Show more
  • Revenue $82M +24.5%
  • EBITDA -$64M +52.6%
  • Net Income -$72M +45.8%
  • EPS (Diluted) -0.34 +47.7%
  • Gross Margin 59.51% +132.7%
  • EBITDA Margin -78.08% +61.9%
  • Operating Margin -90.68% +59.0%
  • Net Margin -88.34% +56.5%
  • ROE -37.28% +24.0%
  • ROIC -52.32% +26.9%
  • Debt/Equity 0.14 +18.9%
  • Interest Coverage -59.01
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 95 (top 5%)
  • ✓Strong 5Y sales CAGR of 24.4%

✗Weaknesses

  • ✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y24.36%
3Y9.46%
TTM16.04%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM18.92%

EPS CAGR

10Y-
5Y-
3Y-
TTM28.83%

ROCE

10Y Avg-57.48%
5Y Avg-65.65%
3Y Avg-40.59%
Latest-31.81%

Peer Comparison

Medical Imaging Systems
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Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+1.53M27.58M46.25M62.56M73.39M65.9M82.06M
Revenue Growth %-17.08%0.68%0.35%0.17%-0.1%0.25%
Cost of Goods Sold+2.25M48.48M107.47M45.51M33.93M49.04M33.23M
COGS % of Revenue1.48%1.76%2.32%0.73%0.46%0.74%0.4%
Gross Profit+-729K-20.89M-61.22M17.05M39.46M16.86M48.83M
Gross Margin %-0.48%-0.76%-1.32%0.27%0.54%0.26%0.6%
Gross Profit Growth %--27.66%-1.93%1.28%1.31%-0.57%1.9%
Operating Expenses+52.36M81.4M100.4M209.78M232.48M162.47M123.24M
OpEx % of Revenue34.31%2.95%2.17%3.35%3.17%2.47%1.5%
Selling, General & Admin17.4M32.47M50.66M135.32M144.44M106.85M85.44M
SG&A % of Revenue11.4%1.18%1.1%2.16%1.97%1.62%1.04%
Research & Development34.95M48.93M49.74M74.46M88.04M55.62M37.8M
R&D % of Revenue22.91%1.77%1.08%1.19%1.2%0.84%0.46%
Other Operating Expenses0000000
Operating Income+-53.09M-102.3M-161.62M-192.73M-193.02M-145.61M-74.41M
Operating Margin %-34.79%-3.71%-3.49%-3.08%-2.63%-2.21%-0.91%
Operating Income Growth %--0.93%-0.58%-0.19%-0%0.25%0.49%
EBITDA+-52.7M-101.54M-160.3M-190.64M-187.09M-135.04M-64.07M
EBITDA Margin %-34.53%-3.68%-3.47%-3.05%-2.55%-2.05%-0.78%
EBITDA Growth %--0.93%-0.58%-0.19%0.02%0.28%0.53%
D&A (Non-Cash Add-back)391K758K1.32M2.09M5.93M10.57M10.34M
EBIT-53.09M-99.7M-161.56M-31.64M-168.68M-133.62M-71.26M
Net Interest Income+02.69M-856K1.92M3.38M7.45M3.76M
Interest Income2.32M2.69M285K2.57M3.38M7.45M5.02M
Interest Expense001.14M651K2K01.26M
Other Income/Expense2.32M2.6M-1.09M160.44M24.34M11.99M1.89M
Pretax Income+-50.77M-99.7M-162.71M-32.29M-168.68M-133.62M-72.52M
Pretax Margin %-33.27%-3.61%-3.52%-0.52%-2.3%-2.03%-0.88%
Income Tax+0039K121K42K82K-32K
Effective Tax Rate %1%1%1%1%1%1%1%
Net Income+-50.77M-99.6M-162.75M-32.41M-168.72M-133.7M-72.49M
Net Margin %-33.27%-3.61%-3.52%-0.52%-2.3%-2.03%-0.88%
Net Income Growth %--0.96%-0.63%0.8%-4.21%0.21%0.46%
Net Income (Continuing)-50.77M-99.7M-162.75M-32.41M-168.72M-133.7M-72.49M
Discontinued Operations0000000
Minority Interest0000000
EPS (Diluted)+-9.63-16.45-26.87-0.19-0.84-0.65-0.34
EPS Growth %--0.71%-0.63%0.99%-3.42%0.23%0.48%
EPS (Basic)-9.63-17.06-26.87-0.19-0.84-0.65-0.34
Diluted Shares Outstanding5.27M6.06M6.06M173.81M199.85M205.39M211.68M
Basic Shares Outstanding5.27M5.84M6.06M173.81M199.85M205.39M211.68M
Dividend Payout Ratio-------

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+239.19M109.25M97.33M511.9M357.14M231.26M192.61M
Cash & Short-Term Investments214.58M90M60.21M422.84M237.81M134.64M88.78M
Cash Only214.58M90M60.21M422.84M162.56M134.64M88.78M
Short-Term Investments000075.25M00
Accounts Receivable756K1.95M5.75M11.94M14.69M13.42M20.79M
Days Sales Outstanding180.8325.8245.3969.6373.0374.3292.49
Inventory10.77M9.44M25.8M36.24M59.97M73.02M70.79M
Days Inventory Outstanding1.74K71.0887.64290.67645.12543.45777.67
Other Current Assets12.93M7.57M2.57M13.38M35.44M2.81M6.71M
Total Non-Current Assets+8.88M55.88M49.86M60.06M60.43M73.01M63.47M
Property, Plant & Equipment1.61M5.33M6.87M38.79M52.9M41M33.75M
Fixed Asset Turnover0.95x5.18x6.73x1.61x1.39x1.61x2.43x
Goodwill0000000
Intangible Assets0000010.32M8.92M
Long-Term Investments0004M4.01M4.01M4.01M
Other Non-Current Assets7.27M50.56M42.99M17.27M3.52M17.68M16.79M
Total Assets+248.07M165.14M147.19M571.97M417.57M304.27M256.08M
Asset Turnover0.01x0.17x0.31x0.11x0.18x0.22x0.32x
Asset Growth %--0.33%-0.11%2.89%-0.27%-0.27%-0.16%
Total Current Liabilities+5.96M15.32M69.69M49.83M51.33M44.27M48.22M
Accounts Payable2.62M5.17M16.4M5.8M7.21M5.09M4.25M
Days Payables Outstanding423.9238.9155.746.577.5737.8846.69
Short-Term Debt0001.39M1.93M2.19M2.44M
Deferred Revenue (Current)001000K1000K1000K1000K1000K
Other Current Liabilities1.72M5.82M38.87M16.82M14.17M11.92M14.2M
Current Ratio40.10x7.13x1.40x10.27x6.96x5.22x3.99x
Quick Ratio38.29x6.51x1.03x9.55x5.79x3.57x2.53x
Cash Conversion Cycle1.5K57.9977.33313.8640.59579.89823.47
Total Non-Current Liabilities+0078.49M74.44M40.88M39.95M39.03M
Long-Term Debt0053.89M0000
Capital Lease Obligations00027.69M29.97M22.84M20.4M
Deferred Tax Liabilities0000000
Other Non-Current Liabilities0021.81M41.28M5.96M9.72M11.32M
Total Liabilities5.96M15.32M148.19M124.27M92.21M84.22M87.25M
Total Debt+0053.89M29.08M31.89M25.03M22.84M
Net Debt-214.58M-90M-6.31M-393.76M-130.92M-109.61M-65.94M
Debt / Equity---0.06x0.10x0.11x0.14x
Debt / EBITDA-------
Net Debt / EBITDA-------
Interest Coverage---141.65x-296.05x-96510.00x--59.01x
Total Equity+241.99M148.66M-994K447.69M325.36M220.05M168.83M
Equity Growth %--0.39%-1.01%451.39%-0.27%-0.32%-0.23%
Book Value per Share45.9324.55-0.162.581.631.070.80
Total Shareholders' Equity241.99M148.66M-994K447.69M325.36M220.05M168.83M
Common Stock1K1K1K20K20K21K22K
Retained Earnings-132.36M-232.06M-394.81M-427.21M-595.94M-729.64M-802.13M
Treasury Stock0000000
Accumulated OCI0000000
Minority Interest0000000

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-69.58M-120.43M-81.7M-189.19M-169.12M-98.82M-41.71M
Operating CF Margin %-45.6%-4.37%-1.77%-3.02%-2.3%-1.5%-0.51%
Operating CF Growth %--0.73%0.32%-1.32%0.11%0.42%0.58%
Net Income-50.77M-99.7M-162.75M-32.41M-168.72M-133.7M-72.49M
Depreciation & Amortization391K758K1.32M2.09M5.93M10.57M10.34M
Stock-Based Compensation5.59M6.04M11M47.8M42.53M27.48M21.03M
Deferred Taxes0000000
Other Non-Cash Items2.59M12.21M20.7M-155.62M-19.46M16.96M4.23M
Working Capital Changes-27.39M-39.74M48.03M-51.05M-29.4M-20.13M-4.82M
Change in Receivables-756K-1.2M-4.38M-6.13M-3.06M-162K-8.5M
Change in Inventory-10.91M-1.39M-23.49M-11.29M-24.51M-34.13M2.22M
Change in Payables02.55M11.18M-10.52M1.22M-1.88M-841K
Cash from Investing+-1.1M-4.47M-2.38M-9.87M-93.78M70.41M-2.66M
Capital Expenditures-1.1M-4.47M-2.38M-7.88M-18.3M-5.78M-2.69M
CapEx % of Revenue0.72%0.16%0.05%0.13%0.25%0.09%0.03%
Acquisitions-------
Investments-------
Other Investing000057K10K36K
Cash from Financing+247.84M324K54.28M565.69M2.88M228K-1.5M
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid0000000
Share Repurchases-------
Other Financing247.84M324K571K21.66M2.88M228K-1.5M
Net Change in Cash-------
Free Cash Flow+-70.68M-124.9M-84.08M-197.06M-187.42M-104.6M-44.4M
FCF Margin %-46.32%-4.53%-1.82%-3.15%-2.55%-1.59%-0.54%
FCF Growth %--0.77%0.33%-1.34%0.05%0.44%0.58%
FCF per Share-13.41-20.62-13.88-1.13-0.94-0.51-0.21
FCF Conversion (FCF/Net Income)1.37x1.21x0.50x5.84x1.00x0.74x0.58x
Interest Paid0000000
Taxes Paid0000000

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)-20.98%-50.99%-220.42%-14.51%-43.65%-49.03%-37.28%
Return on Invested Capital (ROIC)--178.27%-472.1%-620.04%-116.45%-71.58%-52.32%
Gross Margin-47.77%-75.75%-132.37%27.26%53.77%25.58%59.51%
Net Margin-3326.67%-361.1%-351.87%-51.8%-229.9%-202.88%-88.34%
Debt / Equity---0.06x0.10x0.11x0.14x
Interest Coverage---141.65x-296.05x-96510.00x--59.01x
FCF Conversion1.37x1.21x0.50x5.84x1.00x0.74x0.58x
Revenue Growth-1707.54%67.68%35.27%17.3%-10.21%24.52%

Revenue by Segment

2021202220232024
Product47.87M50.26M40.66M54.2M
Product Growth-5.00%-19.12%33.32%
Service, Other-23.13M25.86M27.86M
Service, Other Growth--11.83%7.70%
Subscription14.7M---
Subscription Growth----
Loss on product purchase commitment13.96M---
Loss on product purchase commitment Growth----

Revenue by Geography

2021202220232024
UNITED STATES---63.42M
UNITED STATES Growth----
Non-US---18.63M
Non-US Growth----
United States42.99M51.07M52.12M-
United States Growth-18.79%2.04%-
International--13.78M-
International Growth----

Frequently Asked Questions

Growth & Financials

Butterfly Network, Inc. (BFLY) reported $88.4M in revenue for fiscal year 2024. This represents a 5696% increase from $1.5M in 2018.

Butterfly Network, Inc. (BFLY) grew revenue by 24.5% over the past year. This is strong growth.

Butterfly Network, Inc. (BFLY) reported a net loss of $79.9M for fiscal year 2024.

Dividend & Returns

Butterfly Network, Inc. (BFLY) has a return on equity (ROE) of -37.3%. Negative ROE indicates the company is unprofitable.

Butterfly Network, Inc. (BFLY) had negative free cash flow of $27.5M in fiscal year 2024, likely due to heavy capital investments.

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