Published on 1 May 2024 on GuruFocus.com via Yahoo Finance
Butterfly Network Inc (BFLY) Surpasses Q1 Revenue Expectations and Raises 2024 Guidance
Revenue: $17.7 million, up 14% from $15.5 million in the prior year's first quarter, surpassing the estimate of $16.8 million.Net Loss: Reduced to $21.8 million from $33.5 million year-over-year, exceeding the estimated loss of $25.26 million.Adjusted EPS: Improved to -$0.07 from -$0.11 year-over-year, exceeding the estimated -$0.12.Gross Margin: Slightly decreased to 58.2% from 58.7% in the previous year, influenced by product mix and higher amortization.Operating Expenses: Decreased by 25% to $32.9 million from $44.1 million, reflecting cost reductions and efficiency improvements.Cash Position: Ended the quarter with $116.8 million in cash, cash equivalents, and restricted cash.Full Year Guidance: Raised following strong first quarter performance and operational achievements.
Warning! GuruFocus has detected 7 Warning Signs with BFLY.