Butterfly Network Inc (BFLY) shares plummeted 25.74% during Friday's intraday session, following the digital health company's mixed fourth-quarter 2024 earnings report and relatively muted outlook for 2025.
While Butterfly reported record quarterly revenue of $22.4 million, up 35% year-over-year, driven by strong demand for its handheld ultrasound devices, the company posted a larger-than-expected net loss of $18.1 million. For 2025, Butterfly 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 performance, Butterfly highlighted several positive developments, including a successful capital raise, progress in its Butterfly HomeCare initiative for chronic care management, and new partnerships for its AI platform Octiv. However, the company's muted guidance and ongoing losses appear to have dampened investor sentiment, leading to the significant stock plunge in the pre-market session.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.