Butterfly Network Q1 revenue rises 25%, beats estimates

Butterfly Network

30/04/2026 11:43

Overview

US ultrasound device maker's Q1 revenue grew 25% yr/yr, beating analyst expectations

Revenue growth driven by Embedded partnerships and higher-priced product sales mix

Outlook

Butterfly Network reaffirms 2026 revenue guidance of $117 mln to $121 mln

Company expects 2026 adjusted EBITDA loss of $21 mln to $25 mln

Butterfly Network sees Q2 revenue between $27 mln and $31 mln

Result Drivers

EMBEDDED PARTNERSHIPS - U.S. revenue growth was mainly driven by Butterfly Embedded partnerships, including co-development with Midjourney

PRODUCT MIX - Both U.S. and international revenue benefited from a shift toward higher-priced iQ3 probes

LICENSING REVENUE AND COST REDUCTION - Gross margin improvement was attributed to higher-margin Embedded licensing revenue and lower software amortization costs

Company press release: ID:nBw7WkGsha

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$26.50 mln
$26.07 mln (4 Analysts)
Q1 Adjusted EPS
Beat
-$0.03
-$0.07 (4 Analysts)
Q1 Net Income
-$12.70 mln
Q1 Adjusted EBITDA
-$6.10 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

Wall Street's median 12-month price target for Butterfly Network Inc is $5.50, about 11.8% above its April 29 closing price of $4.92

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)