Abstract

Butterfly Network Inc will report its quarterly results on July 30, 2026 Pre-Market; this preview compiles consensus projections on revenue, margins, net profit, and adjusted EPS, and reviews recent operational trends and analyst sentiment since January 1, 2026.

Market Forecast

Market models indicate Butterfly Network Inc’s current quarter revenue is projected at 29.36 million US dollars, with an estimated year-over-year increase of 23.76%; the forecast calls for an EBIT loss of 15.15 million US dollars, an adjusted EPS of -0.058, and the prior quarter’s gross margin baseline at 68.92% to inform expectations for this quarter. Forecast commentary implies a gradual improvement in net losses from the prior quarter’s level and stabilization in net margin versus the year-ago period; adjusted EPS improvement is modest on a year-over-year basis at 17.86%. The main business remains anchored by product sales and software and services; management and market trackers expect continuing mix shift toward software and services to underpin gross margin resilience and recurring revenue visibility. The most promising segment is software and other services, supported by a growing installed base and subscription penetration; last quarter revenue from software and other services reached 11.88 million US dollars, and ongoing expansion indicates robust year-over-year momentum into the current quarter.

Last Quarter Review

Butterfly Network Inc delivered revenue of 26.53 million US dollars, a gross profit margin of 68.92%, a GAAP net loss attributable to shareholders of 12.68 million US dollars with a net profit margin of -47.78%, and adjusted EPS of -0.05, all reflecting year-over-year improvement where applicable. Quarter-on-quarter net profit improved by 17.10%, highlighting continued operating discipline and cost controls against a backdrop of healthy top-line expansion. Main business performance featured product revenue of 14.65 million US dollars alongside software and other services revenue of 11.88 million US dollars, signaling an improving balance between device shipments and higher-margin recurring revenue streams.

Current Quarter Outlook

Main business: Devices, probes, and platform-enabled sales

The core revenue driver remains the company’s product category, which generated 14.65 million US dollars last quarter. With the forecast for total revenue at 29.36 million US dollars this quarter, the product line is expected to benefit from seasonal demand and a growing clinical footprint across point-of-care settings. Hardware mix and pricing discipline are critical to sustaining the last quarter’s gross margin baseline of 68.92%, while any supply-chain normalization should help preserve unit economics. Execution on channel breadth and hospital procurement cycles will determine shipment pacing and inventory turns, which directly influence working capital and near-term margin variability.

Most promising business: Software and other services

Software and other services contributed 11.88 million US dollars last quarter, nearing half of total revenue, and continue to provide higher visibility due to subscription and usage-based models. Expansion of the installed base and attach rates for workflow, image management, and AI-enabled features are expected to support year-over-year revenue growth consistent with the 23.76% aggregate outlook. Software mix should bolster gross margin given its structurally higher contribution margin; this, in turn, may narrow EBIT losses toward the forecasted -15.15 million US dollars even if operating expenses remain focused on R&D and commercial build-out. Upsell to enterprise accounts and deeper integration into clinical pathways can further enhance dollar-based net retention.

Key stock-price swing factor: Path to operating leverage and margin trajectory

The most important determinant of share performance this quarter is progress toward operating leverage. Consensus implies an adjusted EPS of -0.058 with year-over-year improvement of 17.86% and an EBIT loss of 15.15 million US dollars with a year-over-year improvement of 11.68%, signaling incremental efficiency but still a sizable gap to break-even. Investors will focus on whether gross margin can hold near the 60%–70% range as software mix increases and whether operating expense growth decelerates relative to revenue. Clear commentary on recurring revenue growth, cohort retention, and enterprise penetration will shape expectations for the pace of loss reduction through the second half.

Analyst Opinions

Across recently compiled viewpoints, the balance of sentiment is bullish, with a majority of analysts emphasizing accelerating revenue growth from software and steady hardware demand, versus a minority concerned about the timeline to profitability. Commentaries highlight anticipated revenue of approximately 29.36 million US dollars and improving EPS trajectory as reasons to maintain positive outlooks into the print. Notably, several institutional notes cite the expanding subscription base as supportive of durable gross margins and potential multiple support if execution stays on track.