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Ultrasound device maker Butterfly Network Q3 revenue beats on Embedded partnerships

By Reuters News


Overview

  • US ultrasound device maker Q3 revenue rose 52% yr/yr, beating analyst expectations

  • Adjusted loss per share for Q3 beat analyst expectations

  • Company posted record gross margin of 73%, driven by Embedded revenue and probe sales


Outlook

  • Butterfly raises 2026 revenue guidance to $123 mln-$126 mln

  • Company expects 2026 adjusted EBITDA loss of $12 mln-$15 mln

  • Butterfly sees Q4 revenue of $31 mln-$34 mln


Result Drivers

  • EMBEDDED PARTNERSHIPS & PROBE SALES - Co said higher U.S. revenue was driven by Embedded partnerships and increased probe sales

  • HIGHER MARGIN EMBEDDED REVENUE - Co attributed record gross margin to higher-margin Embedded licensing revenue and increased probe sales

  • INTERNATIONAL DECLINE - Co said lower international revenue was due to decreased probe sales to global health partners


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$32.60 mln

$29.09 mln (7 Analysts)

Q3 Adjusted Loss Per Share

Beat

$0.01

$0.06 (5 Analysts)

Q3 Net Loss

$12.80 mln

Q3 Adjusted EBITDA

-$1.20 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "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 $10.00, about 28% above its October 28 closing price of $7.81


Reuters Recommended Reads

  • Oct 28 - Boston Scientific Q3 revenue beats estimates despite cybersecurity disruption

  • Oct 28 - AxoGen Q3 revenue beats estimates on market expansion

  • Oct 28 - Conmed Q3 adjusted EPS beats estimates


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.)

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