Shares of Butterfly Network Inc (BFLY) slid 6.17% in the pre-market trading on Friday after the digital health company reported mixed results for the fourth quarter of 2024 and provided a muted outlook for 2025.

The company reported record revenue of $22.4 million for Q4, up 35% year-over-year, driven by strong demand for its handheld ultrasound devices. However, it posted a net loss of $18.1 million compared to a loss of $44.1 million a year ago. While the loss narrowed, it missed analysts' expectations. For 2025, Butterfly Network forecasted revenue between $96 million and $100 million, representing around 20% growth, but projected an adjusted EBITDA loss of $37 million to $42 million.

Despite the mixed results, the company highlighted several positive developments, including successful capital raising, progress in its Butterfly HomeCare initiative for chronic care management, and new partnerships for its Octiv AI platform. However, the muted guidance and ongoing losses seem to have dampened investor sentiment.