Why Butterfly Network Stock Got Crushed on Thursday
Shares of Butterfly Network (NYSE: BFLY) were getting crushed today, down by 14% as of 12:40 p.m. EST, after the company reported first-quarter earnings results. No Wall Street analysts cover Butterfly Network.
Revenue in the first quarter was $12.4 million. That consisted of approximately $9.6 million in product revenue and around $2.9 million in subscription revenue. Total units sold increased from 3,711 a year ago to 5,013 in the first quarter. Butterfly Network reported a net loss of $690,000, or $0.01 per share. The healthcare company offers a handheld ultrasound device called the Butterfly iQ+ along with a subscription-based platform.
The Butterfly iQ+ and its app. Image source: Butterfly Network.
Source Fool.com
