BFLY
HealthcareButterfly Network, Inc. · Medical - Devices · $1B
What is Butterfly Network, Inc.?
Butterfly Network is a digital health company focused on making ultrasound imaging more accessible through handheld, smartphone-connected devices. Headquartered in Guilford, Connecticut, it serves healthcare systems, physicians, and providers across the United States and internationally.
Butterfly Network designs and sells handheld ultrasound probes that connect to smartphones, tablets, and hospital systems — replacing bulky, expensive traditional ultrasound carts with a single portable device. Revenue comes from probe hardware sales, software subscriptions, and cloud-based clinical tools. The company reaches customers through a direct sales force, distributors, and an eCommerce channel, targeting both large healthcare systems and individual clinicians.
Butterfly Network was incorporated in 2011 and went public in 2020, headquartered in Guilford, Connecticut.
- Butterfly iQ — handheld whole-body ultrasound probe
- Butterfly iQ+ — smartphone and tablet-connected point-of-care device
- Butterfly Blueprint — system-wide ultrasound platform with Compass software
- Butterfly Academy — in-app education and teleguidance software
- Cloud-based clinical and administrative software subscriptions
Is BFLY a Good Stock to Buy?
UQS Score rates BFLY as Poor overall, reflecting meaningful structural challenges across several key pillars.
The Growth pillar stands out as the clearest bright spot — Butterfly Network is expanding its commercial footprint and building recurring software subscription revenue, which supports a forward-looking growth narrative. The Risk pillar registers as Neutral, suggesting the company's risk profile is neither extreme nor negligible relative to peers.
Both the Quality and Moat pillars rate Weak, pointing to thin competitive insulation and underlying business fundamentals that lag sector peers. The Valuation pillar reads Elevated, meaning the current market price appears to price in considerable optimism.
Pro members can view the complete pillar breakdown and full financial metrics behind the BFLY UQS Score. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does BFLY pay dividends?
No — Butterfly Network, Inc. does not currently pay a dividend.
Butterfly Network does not currently pay a dividend. As an early-stage commercial company still investing heavily in product development, sales infrastructure, and software capabilities, capital is directed toward growth rather than shareholder distributions. Investors in BFLY are typically seeking capital appreciation rather than income.
When does BFLY report earnings?
Butterfly Network reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
The company has been working to grow its subscription software base alongside hardware sales, with management commentary typically focused on commercial momentum and path toward improved unit economics. Results have reflected the realities of a growth-stage business scaling in a competitive market.
For the most recent quarter's results and guidance, visit Butterfly Network's investor relations page directly.
BFLY Price History
-53.5% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Butterfly Network, Inc.?
Based on Butterfly Network, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
BFLY Long-term Outlook
Butterfly Network's Good Growth pillar suggests the business is on a trajectory of meaningful revenue expansion, driven by increasing adoption of point-of-care ultrasound and a growing software subscription base. However, the Weak Quality and Moat pillars indicate that translating top-line growth into durable profitability remains a central challenge. The Elevated Valuation pillar adds another layer of consideration — the stock already reflects a degree of optimism about future execution.
Growth drivers
- Expanding adoption of handheld ultrasound in clinical and point-of-care settings
- Growing recurring revenue from software subscriptions and cloud-based tools
- International market expansion beyond the US
Key risks
- Weak competitive moat leaves the business exposed to better-resourced rivals
- Elevated valuation leaves limited margin of safety if growth disappoints
- Path to sustainable profitability remains uncertain for an early-stage commercial operation
BFLY vs Peers
Butterfly Network operates in the broader medical device and digital health space alongside a range of small-cap peers.
Tandem focuses on insulin delivery technology for diabetes management, a distinct therapeutic area from Butterfly's imaging platform.
PROCEPT develops robotic surgical systems for urology, competing in the capital-equipment segment of medtech rather than portable diagnostics.
UFP Technologies specializes in engineered packaging and components for medical devices, operating further upstream in the healthcare supply chain.
Frequently Asked Questions
What does Butterfly Network do?
Butterfly Network develops handheld ultrasound devices that connect to smartphones and tablets, enabling point-of-care imaging without traditional bulky equipment. The company pairs its hardware with cloud-based software subscriptions, educational tools, and clinical support services for healthcare systems and individual providers.
Does BFLY pay dividends?
No, Butterfly Network does not pay a dividend. The company is in a growth and investment phase, directing resources toward product development and commercial expansion rather than shareholder distributions.
When does BFLY report earnings?
Butterfly Network follows a standard quarterly earnings cadence. The company does not pre-announce specific dates far in advance, so investors should check Butterfly Network's investor relations page for the most current schedule.
Is BFLY a good stock to buy?
The UQS Score rates BFLY as Poor overall. While the Growth pillar shows promise and the Risk pillar is Neutral, the Weak Quality and Moat scores alongside an Elevated Valuation suggest meaningful headwinds. Pro members can access the full pillar breakdown to form a more complete view.
Is BFLY overvalued?
The UQS Valuation pillar for BFLY reads Elevated, indicating the stock's current pricing reflects considerable growth expectations. For investors, this means less room for error if the company's commercial execution falls short of expectations.
How does BFLY compare to its competitors?
Butterfly Network occupies a distinct niche in portable diagnostic imaging, which differs from peers like Tandem Diabetes Care, PROCEPT BioRobotics, and UFP Technologies. Each operates in different segments of the healthcare market. The UQS Score allows side-by-side pillar comparisons across these names for Pro members.
What is BFLY's market cap bracket?
Butterfly Network is classified as a small-cap company. This places it in a segment of the market that can offer higher growth potential but typically carries greater volatility and liquidity risk compared to large- or mega-cap peers.
Who founded Butterfly Network?
Butterfly Network was founded by Jonathan Rothberg, a genomics entrepreneur known for applying semiconductor technology to medical imaging. The company was incorporated in 2011 and became publicly traded in 2020. Further founding details are widely available through public sources.
Is BFLY a long-term quality investment?
From a long-term quality standpoint, the UQS Score currently rates BFLY as Poor, with Weak scores on both Quality and Moat pillars. While the Growth pillar offers some forward-looking optimism, durable long-term quality typically requires stronger competitive insulation and business fundamentals.
What is the main competitive advantage of Butterfly Network?
Butterfly Network's core differentiation lies in its semiconductor-on-chip ultrasound technology, which enables a single handheld probe to image the whole body — a capability that traditional multi-probe systems cannot match at the same price point. However, the UQS Moat pillar currently rates this advantage as Weak relative to sector peers.
What sector does BFLY belong to?
Butterfly Network operates in the Healthcare sector, specifically within digital health and medical imaging devices. It sits at the intersection of medtech hardware and software-as-a-service, targeting point-of-care clinical settings.
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Pro Analysis
BFLY — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 11, 2026 | 30.1 | 6.2 | 28.0 | 63.3 | 58.9 | 0.0 | +1.6 |
| May 10, 2026 | 28.5 | 0.0 | 28.0 | 63.3 | 58.9 | 0.0 | -1.6 |
| May 8, 2026 | 30.1 | 6.2 | 28.0 | 63.3 | 58.9 | 0.0 | 0.0 |
| May 1, 2026 | 30.1 | 6.2 | 28.0 | 63.3 | 59.0 | 0.0 | +0.3 |
| Apr 2, 2026 | 29.8 | 6.2 | 28.0 | 63.3 | 57.1 | 0.0 | — |
BFLY — Pillar Breakdown
Quality
— 6.2/100 (25%)Butterfly Network, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 63.3/100 (20%)Butterfly Network, Inc. demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Risk
— 58.9/100 (15%)Butterfly Network, Inc. maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 0.0/100 (15%)Butterfly Network, Inc. appears expensively valued relative to its fundamentals and growth prospects.
Moat
— 28/100 (25%)Butterfly Network, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for BFLY.
Score Composition
Financial Data
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How is the BFLY UQS Score Calculated?
The UQS (Unified Quality Score) for Butterfly Network, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Butterfly Network, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Butterfly Network, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.