Butterfly Network Drops In Spite Of Better Quarterly Results

(RTTNews) - Shares of digital health company Butterfly Network, Inc. (BFLY) are down more than 18% in the morning trade on Monday despite reporting improved third quarter results.

Net loss for the third quarter narrowed to $13.56 million or $0.07 per share, from net loss of $92.21 million or $15.2 per share during the same period a year ago.

Revenue for the quarter increased 44.3% to $14.6 million from $10.1 million last year.

Looking forward to the full-year, revenue is expected to be in the range of $60 million to $62 million.

BFLY touched a new low of $6.75 this morning before edging up to $7.02 currently.