Butterfly Network Q3 Earnings Call Highlights

Butterfly (BFLY) reported Q3 2026 revenue of $32.6M, beating guidance by 9%. The company raised full-year guidance and highlighted growth in U.S. enterprise contracts and international expansion. Key developments include FedRAMP authorization for federal government contracts and new partnerships in brain-computer interface and healthcare applications.

Butterfly Network reported Q3 2026 earnings, highlighting revenue growth driven by its Embedded business and U.S. enterprise contracts. International performance lagged, but the company is shifting to an institutional model. Gross margins reached 73%, and full-year guidance was raised. The company plans to launch new chips and enter the cart-based ultrasound market by 2028. A $150M ATM program was established for financial flexibility.

Butterfly Network, Inc. (BFLY) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Butterfly Network Reports Third Quarter 2026 Financial Results Beats High End of Quarterly Revenue and Adjusted EBITDA Guidance • Delivered quarterly Revenue of $32.6 million, driven in part by Embedded revenue • Recorded highest gross margin in Company history at 73

Neuralink, a private brain-computer interface (BCI) company, successfully helped a patient with ALS communicate. Investors cannot buy Neuralink, but two public companies, Quantum-Si (QSI) and Butterfly Network (BFLY), are connected to the BCI field. QSI makes research tools and saw a 7x volume spike, while BFLY supplies ultrasound chips to BCI developers like Merge Labs and Bridge Neurotech.

Butterfly Network (BFLY) stock rose 1.6% pre-market after Canaccord Genuity initiated coverage with a Buy rating and $10 target, citing its ultrasound tech and AI capabilities. Analysts highlight new products and partnerships. The stock has seen positive analyst activity, with a consensus target of $11.40. Q3 earnings are due October 29.

Evercore ISI initiated coverage on Butterfly Network (NYSE: BFLY) with an outperform rating and $15.00 price target, citing its ultrasound-on-chip technology and growth potential. The firm projects $550M+ revenue by 2030 and positive EBITDA by 2028. BFLY stock has risen 367% over the past year, trading at $9.15 with a $2.44B market cap. Q2 2026 results showed a smaller loss than expected but lower revenue. Needham also initiated coverage with a buy rating and $10.00 target.