BFLY Current Price $12.20 Price Target $20
I like BFLY here, as it has over $500 million in cash following its merger with Longview, and I like that it is fully expected to be cash-flow positive by 2024.Revenue increased 40.0% to $16.5 million in Q2 2021 from $11.8 million in Q2 2020. The revenue can be traced to both product and subscription revenues. Product revenue increased 30.3% to $13.0 million from $10.0 million last year. That is solid. The company is focused heavily on improving subscriptions, and it is translating to sales. Subscription revenue increased 94.3% to $3.5 million from $1.8 million last year. I see this line of revenue growing sizably in the coming quarters as it becomes a bigger focus of the company. With a half of billion in cash BFLY has significant funds to continue growing their customer base with their innovative cost cutting products. Their Butterfly IQ+ is a handheld ultrasound which is cutting the cost of ultrasounds by over 90%, this opens up the opportunity for the company to expand to developing countries with this amazing cost cutting innovation.
I like BFLY here, as it has over $500 million in cash following its merger with Longview, and I like that it is fully expected to be cash-flow positive by 2024.Revenue increased 40.0% to $16.5 million in Q2 2021 from $11.8 million in Q2 2020. The revenue can be traced to both product and subscription revenues. Product revenue increased 30.3% to $13.0 million from $10.0 million last year. That is solid. The company is focused heavily on improving subscriptions, and it is translating to sales. Subscription revenue increased 94.3% to $3.5 million from $1.8 million last year. I see this line of revenue growing sizably in the coming quarters as it becomes a bigger focus of the company. With a half of billion in cash BFLY has significant funds to continue growing their customer base with their innovative cost cutting products. Their Butterfly IQ+ is a handheld ultrasound which is cutting the cost of ultrasounds by over 90%, this opens up the opportunity for the company to expand to developing countries with this amazing cost cutting innovation.