$Butterfly Network(BFLY.US)

BFLY’s latest results look encouraging to me. Revenue grew 25% year over year to $26.5 million, gross margin improved to 68.9%, and adjusted EBITDA loss narrowed compared with last year.

The company also reaffirmed its full-year 2026 revenue guidance of $117 million to $121 million.

What I like here is that the story is not only about AI headlines or FDA clearance anymore. The business is also showing signs of better execution, with stronger revenue, better margins, and improving losses. That makes the setup more interesting than a simple hype trade.

That said, BFLY is still loss-making, so I’m not treating this as a risk-free turnaround. For me, the key question is whether the company can keep growing while reducing cash burn. If it can, the market may start taking the portable ultrasound story more seriously.