Butterfly Network Stock (BFLY): Why The Price Surged Today

By Amit Chowdhry ● Jan 11, 2022
  • The stock price of Butterfly Network Inc (NYSE: BFLY) increased by 19.46% today. This is why it happened.

The stock price of Butterfly Network Inc (NYSE: BFLY) – a digital health company transforming care with next-generation, point-of-care ultrasound (POCUS) – increased by 19.46% today. Investors are responding positively to Butterfly Network announcing certain preliminary and unaudited results for the quarter and full-year ended December 31, 2021.

Preliminary, Unaudited Revenue and Recent Business Highlights:

— Revenue for the fourth quarter of 2021 is anticipated to be in the range of approximately $17.9 million to $18.9 million, an increase of approximately 14% to 21% over the same quarter last year.

— Revenue for the full year 2021 is anticipated to be in the range of $61.5 million to $62.5 million, an increase of approximately 33% to 35% over full-year 2020. And on November 15, 2021, the company issued revenue guidance of $60 million to $62 million.

— Announced that the University of Rochester Medical Center (URMC) and Butterfly Network will work together to deploy Butterfly iQ+ across the URMC clinical enterprise.

Butterfly had previously announced its participation in the 40th Annual J.P. Morgan Healthcare Conference, including a formal virtual presentation on Tuesday, January 11, 2022, at 2:15 pm Eastern Time. A live webcast of the presentation and an archived recording will be available in the Events & Presentations section of the Butterfly Network investor website.

KEY QUOTE:

“Our team has performed well during the fourth quarter, with revenue exceeding our expectations. Having announced our first enterprise-wide institutional deployment with the University of Rochester Medical Center, we are even more energized about Butterfly’s transformational potential to advance the practice of better medicine everywhere as we begin 2022.”

— Dr. Todd Fruchterman, President and CEO of Butterfly

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.