[First Quarter 2025 Highlights](index=1&type=section&id=Recent%20Operational%20and%20Strategic%20Highlights) Butterfly Network reported strong Q1 2025 results, achieving 20% YoY revenue growth and meeting guidance, with key operational progress including a successful $81.7 million capital raise, advancement of the Butterfly HomeCare pilot program, and continued momentum in medical education and enterprise adoption - The CEO highlighted a **20% growth quarter**, marking a strong start to 2025 and progress in the company's five-year strategic plan. Key growth drivers include medical education, enterprise adoption, and strategic initiatives like Octiv™ and Butterfly HomeCare[3](index=3&type=chunk) - Successfully raised **$81.7 million** in net proceeds from a public offering that closed on January 31, 2025, significantly strengthening the company's balance sheet[5](index=5&type=chunk)[6](index=6&type=chunk) - The Butterfly HomeCare pilot program for congestive heart failure entered its clinical phase. Early results are promising, with **no rehospitalizations** among scanned patients, a significant outcome considering historical readmission rates[5](index=5&type=chunk)[6](index=6&type=chunk) - Momentum in medical education continued, with one of the largest U.S. Colleges of Osteopathic Medicine committing to a **one-probe-per-student model** for the future[6](index=6&type=chunk) - The Butterfly Garden AI development platform expanded to **23 partners**. Partner DESKi received FDA clearance for its HeartFocus AI-powered cardiac app, marking the **second commercialization** from the platform[6](index=6&type=chunk) [First Quarter 2025 Financial Performance](index=1&type=section&id=Three%20Months%20Ended%20March%2031%2C%202025%20Financial%20Results) The company achieved total revenue of $21.2 million, a 20% increase YoY, driven by strong U.S. sales and the higher price of the iQ3 probe, while gross margin improved significantly to 63.0% from 58.2%, operating expenses decreased by 3%, resulting in a reduced net loss of $14.0 million and an improved Adjusted EBITDA loss of $9.1 million Q1 2025 Key Financial Metrics (YoY Comparison) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $21.2M | $17.7M | +20% | | U.S. Revenue | $16.6M | - | +24% | | International Revenue | $4.6M | - | +9% | | Gross Profit | $13.4M | $10.3M | +30% | | Gross Margin | 63.0% | 58.2% | +4.8 p.p. | | Operating Expenses | $31.8M | $32.9M | -3% | | Net Loss | ($14.0M) | ($21.8M) | +36% Improvement | | Adjusted EBITDA Loss | ($9.1M) | ($13.2M) | +31% Improvement | | Adjusted EPS | ($0.04) | ($0.07) | +43% Improvement | - Revenue growth was primarily driven by higher sales volume to U.S. health systems, the impact of the iQ3 probe's higher selling price, and the delivery of semiconductor chips to newly onboarded partners[7](index=7&type=chunk) - The increase in gross margin was mainly due to higher average selling prices and improved software margins resulting from reduced software amortization and lower hosting costs[8](index=8&type=chunk) - The company ended the quarter with **$155.2 million** in cash and cash equivalents[13](index=13&type=chunk) [Full Year 2025 Guidance](index=3&type=section&id=Guidance) Butterfly Network has reiterated its full-year 2025 guidance, projecting revenue between $96 million and $100 million, which represents approximately 20% growth, and an Adjusted EBITDA loss in the range of $37 million to $42 million Full Year 2025 Guidance | Metric | Guidance Range | | :--- | :--- | | Revenue | $96M - $100M (~20% growth) | | Adjusted EBITDA Loss | ($37M) - ($42M) | [Financial Statements](index=6&type=section&id=Financial%20Statements) The financial statements detail the company's performance and position, with the income statement showing a reduced net loss compared to the prior year, the balance sheet reflecting a stronger cash position following a public offering with cash and equivalents increasing to $155.2 million, and the cash flow statement indicating a 43% reduction in cash used in operations and a significant inflow from financing activities [Condensed Consolidated Statements of Operations](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS%20AND%20COMPREHENSIVE%20LOSS) Q1 2025 vs Q1 2024 Income Statement Highlights (in thousands) | Account | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Revenue | $21,225 | $17,656 | | Gross Profit | $13,380 | $10,276 | | Loss from Operations | $(18,468) | $(22,621) | | Net Loss | $(13,967) | $(21,761) | | Net Loss per Share | $(0.06) | $(0.10) | [Condensed Consolidated Balance Sheets](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $155,212 | $88,775 | | Total Current Assets | $257,383 | $192,613 | | Total Assets | $318,412 | $256,082 | | Total Liabilities | $78,716 | $87,250 | | Total Stockholders' Equity | $239,696 | $168,832 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Cash Flow Summary for Three Months Ended March 31 (in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(11,677) | $(20,667) | | Net cash used in investing activities | $(353) | $(1,138) | | Net cash provided by financing activities | $78,467 | $0 | - The significant cash provided by financing activities in Q1 2025 was primarily due to **$81.1 million** in net proceeds from a share offering[31](index=31&type=chunk) [Non-GAAP Financial Measures Reconciliation](index=9&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) The company provides reconciliations for non-GAAP measures to their most comparable GAAP counterparts, with Adjusted Gross Margin at 63.3% for Q1 2025 and the reconciliation from Net Loss to Adjusted EBITDA showing an Adjusted EBITDA loss of $9.1 million, a significant improvement from the prior-year period [Adjusted Gross Profit and Adjusted Gross Margin](index=9&type=section&id=ADJUSTED%20GROSS%20PROFIT%20AND%20ADJUSTED%20GROSS%20MARGIN) Adjusted Gross Profit Reconciliation (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Gross Profit (GAAP) | $13,380 | $10,276 | | Add: Write-downs of inventories | $52 | $0 | | Adjusted Gross Profit (Non-GAAP) | $13,432 | $10,276 | | **Adjusted Gross Margin** | **63.3%** | **58.2%** | [Adjusted EBITDA and Adjusted EPS](index=10&type=section&id=ADJUSTED%20EBITDA%20AND%20ADJUSTED%20EPS) Adjusted EBITDA Reconciliation (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Loss (GAAP) | $(13,967) | $(21,761) | | Adjustments (Stock Comp, etc.) | $4,899 | $8,605 | | **Adjusted EBITDA (Non-GAAP)** | **$(9,068)** | **$(13,156)** | - Adjusted EPS for Q1 2025 was **$(0.04)**, an improvement from **$(0.07)** in Q1 2024[35](index=35&type=chunk)

Core Insights - The Medical Info Systems industry is experiencing significant growth driven by new federal policies and the $500 billion Stargate AI project initiated by Donald Trump, which aims to enhance AI infrastructure in healthcare [1][3][5] - The use of AI in the medical device market is projected to grow at a CAGR of 29.9% from 2026 to 2029, indicating strong demand for digital healthcare solutions [1][3] - The industry faces challenges due to escalating tariffs on imports, which could hinder the development of AI technologies essential for healthcare [2][5] Industry Overview - The Zacks Medical Info Systems industry includes companies that develop healthcare information systems, providing software and hardware solutions for secure access to clinical, administrative, and financial data [2] - The focus on patient satisfaction and data security has increased the demand for big data, cloud computing, blockchain, and AI technologies [2] Trends Influencing the Industry - AI is being increasingly adopted in the medical sector for drug synthesis, device creation, and diagnostics, with the global AI in healthcare market expected to reach $95.65 billion by 2025 [3] - Remote patient monitoring is growing rapidly due to the rise in wearable devices and telehealth services, with the global smart healthcare products market projected to grow from $145.9 billion in 2023 to $485.71 billion by 2032, at a CAGR of 12.78% [4] Financial Performance - The Zacks Medical Info Systems industry has underperformed the S&P 500 and the broader medical sector over the past year, with a decline of 6.6% compared to a 25.3% increase in the S&P 500 [9] - The industry is currently trading at a forward price-to-sales (P/S) ratio of 3.95, lower than the S&P 500's 4.56 and the sector's 2.50 [12] Investment Opportunities - Veeva Systems, with a Zacks Rank 1 (Strong Buy), is expected to see an 11% earnings growth for fiscal 2026 [18] - Hims & Hers Health, holding a Zacks Rank 2 (Buy), anticipates a 58% increase in earnings for 2025, driven by a growing subscriber base [22] - Butterfly Network, also with a Zacks Rank 2, projects a 5.9% improvement in earnings for 2025 [26]

Industry Overview - Healthcare IT spending is on the rise, with 75% of healthcare providers increasing investments in AI, cybersecurity, and other IT areas, transitioning from a pandemic response to a core aspect of next-generation healthcare driven by generative AI technologies [1][2] - The sector is projected to experience a compound annual growth rate (CAGR) of 15.4% from 2024 to 2031, making healthcare IT a highly attractive investment opportunity [2] Company Highlights - Tempus AI has seen its stock rise by 30% year-to-date, focusing on precision oncology and personalized care through its AI-based platform that integrates multi-modal data [7] - Butterfly Network is gaining traction with its Ultrasound-on-Chip technology and is expected to report 5.9% earnings growth alongside an 18.9% revenue increase in 2025, with a strong buy recommendation from brokers [12][13] - Health Catalyst provides data and analytics technology to improve healthcare outcomes, with expectations of 7.1% earnings growth and a 9.2% revenue increase in 2025, holding a "hold" rating from analysts [18][19] Digital Transformation - By 2025, 70% of healthcare leaders plan to invest in digital tools, with 60% aiming to upgrade core technologies like EMRs and ERP software, indicating a significant shift towards digital transformation in the industry [9] - Cybersecurity is a major focus, with 78% of executives prioritizing enhancements due to the increasing risk of cyber threats as digital adoption accelerates [10] Generative AI Impact - Over 40% of organizations report significant to moderate returns on investment from generative AI, while 37% are still evaluating its impact, suggesting many companies are in the early stages of implementation [11]

Core Viewpoint - Butterfly Network, Inc. (BFLY) has experienced significant selling pressure, resulting in a 34.5% decline in stock price over the past four weeks, but analysts anticipate better earnings than previously predicted, indicating potential for recovery [1]. Group 1: Technical Analysis - The stock is currently in oversold territory, with a Relative Strength Index (RSI) reading of 29.36, suggesting a possible trend reversal [5]. - RSI is a momentum oscillator that helps identify whether a stock is overbought or oversold, with readings below 30 typically indicating an oversold condition [2][3]. Group 2: Fundamental Analysis - Analysts have raised earnings estimates for BFLY by 4.6% over the last 30 days, which is a positive sign for potential price appreciation [6]. - BFLY holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the outlook for a turnaround [7].

NEW YORK, March 25, 2025 /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Butterfly Network, Inc. (NYSE: BFLY) breached their fiduciary duties to shareholders.  According to a federal securities lawsuit, Insiders at Butterfly Network caused the company to misrepresent or fail to disclose that (i) Butterfly had overstated its post-Merger business and financial prospects; (ii) notwithstanding the ongoing COVID-19 pandemic, Butterfly ...

Financial Data and Key Metrics Changes - In 2024, Butterfly Network reported revenue of $82.1 million, representing a 25% increase year-over-year, while adjusted EBITDA loss improved by 42% to $38.9 million [9][43][49] - The fourth quarter of 2024 saw revenue of $22.4 million, the highest quarterly result in the company's history, marking a 35% increase compared to the prior year [38][39] - Gross profit for Q4 2024 was $13.7 million, a 45% increase from the prior year, with gross profit margin rising to 61% from 57% [42] Business Line Data and Key Metrics Changes - Product revenue in Q4 2024 was $14.7 million, up 45% year-over-year, driven by higher average selling prices and volume [40] - Software and other services revenue reached $7.6 million in Q4 2024, a 20% increase compared to the prior year, although the mix decreased by approximately four percentage points [40] Market Data and Key Metrics Changes - U.S. revenue in Q4 2024 was $14.5 million, a 32% increase year-over-year, while international revenue increased by 19% to $5.5 million [39] - The launch of the iQ3 device accounted for 50% of overall sales in units and 58% of probe revenue in 2024 [13] Company Strategy and Development Direction - Butterfly Network aims to expand its digital ecosystem and enhance accessibility to ultrasound technology, targeting a vision where every healthcare provider has a personal imaging device [10][11] - The company is focusing on scaling its core POCUS business and expanding into new markets, including home care and veterinary applications [22][23][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a revenue target of $96 million to $100 million for 2025, representing approximately 20% growth, while maintaining fiscal discipline [49] - The company is optimistic about the potential of its HomeCare and Octiv businesses, which are expected to contribute significantly to future revenue [66][68] Other Important Information - Butterfly Network raised $81.7 million from a follow-on offering in January 2025, providing a bridge to cash flow independence [48] - The company has signed 21 partners in its Butterfly Garden initiative, with six expected to go commercial in 2025 [24] Q&A Session Summary Question: Update on confidence level for $500 million revenue target - Management is bullish about growth initiatives and believes they are on track to achieve the long-term revenue target [62][64] Question: Steps required to transition HomeCare from pilot to revenue - The transition involves training on-site personnel and utilizing telemedicine for scalability, with a 90-day process for training [75][79] Question: Update on wearable technology development - The wearable is in development, with a focus on building market demand before launching the product [88][90] Question: Details on HomeCare pilot and patient involvement - 18 nurses were trained across two facilities, with a pilot designed for 200 patients, and no readmissions reported so far [92][95] Question: Hardware developments and iQ station update - The company is actively working on next-generation hardware and the iQ station, which will expand into the lower-end cart business [97][100]

Financial Performance - Total revenue for the years ended December 31, 2024, and 2023 was $82.1 million and $65.9 million, respectively, representing a year-over-year increase of approximately 24.5%[24] - Net losses for the same periods were $72.5 million in 2024 and $133.7 million in 2023, indicating a reduction in losses of approximately 45.7%[24] - The company incurred net losses of $168.7 million, $133.7 million, and $72.5 million for the years ended December 31, 2022, 2023, and 2024, respectively, with an accumulated deficit of $802.1 million as of December 31, 2024[126] - Approximately 23%, 21%, and 30% of the company's total revenue was generated from international customers for the years ended December 31, 2024, 2023, and 2022, respectively[137] - The company anticipates continuing to incur significant losses for at least the next several years as it seeks to commercialize existing products and develop new offerings[124] Product Development and Market Strategy - The Butterfly iQ3 device, launched in February 2024, has shown impressive market uptake, contributing to increased penetration in the healthcare market[37] - Butterfly's Ultrasound-on-Chip™ technology allows for whole-body imaging on a single handheld probe, with the Butterfly iQ+ priced at approximately $2,700 and the iQ3 at approximately $3,900, making them competitive in the market[45] - The company estimates a potential new market exceeding $100 billion, targeting over 40 million healthcare practitioners globally[36] - The Butterfly HomeCare Services Business was introduced in March 2024, aiming to support chronic condition management outside of hospitals[41] - The company has launched three products: Butterfly iQ in 2018, Butterfly iQ+ in 2020, and Butterfly iQ3 in 2024, focusing on ultrasound imaging solutions[126] Market Penetration and Adoption - The company has over 145,000 unique Butterfly users to date, reflecting significant adoption of its technology[44] - Butterfly's devices are currently utilized in over 30 countries and in over 70 low-resource settings worldwide[25] - The company has sold devices to most of the largest 100 U.S. healthcare systems, indicating strong market penetration[69] - Butterfly has distributed thousands of devices in conflict zones like Ukraine, Gaza, and Israel through over 40 global health partnerships, supporting frontline medics[40] Technology and Innovation - The company is focused on leveraging AI integration to enhance ease of use and accelerate the adoption of handheld ultrasound technology[34] - Butterfly's semiconductor technology allows for whole-body scans, differentiating it from competitors relying on traditional piezoelectric crystals[77] - The company plans to enhance its software capabilities and develop new applications leveraging AI for improved clinical procedures[70] - The Auto B-Line Counter, launched in 2023, has been validated for use in cattle, potentially reducing antibiotic use in livestock[61] Regulatory and Compliance Challenges - The company is subject to extensive regulatory requirements from the FDA and other agencies for its medical devices, classified as Class II devices[105] - Regulatory compliance is critical, with the company needing to maintain marketing authorization for its products across various jurisdictions, which may have different requirements[115] - The company must comply with U.S. federal healthcare laws related to reimbursement claims submitted by customers using its products[111] - The company is subject to extensive government regulation, which could restrict the development, marketing, sale, and distribution of its products, potentially incurring significant costs[172] Supply Chain and Manufacturing - Butterfly devices are manufactured using custom-made components, including a key ultrasound transducer module produced in Taiwan and assembled in Thailand[82] - The company maintains significant inventory of critical components to mitigate supply chain risks associated with single-source suppliers[83] - The company relies on a single supplier, TSMC, for semiconductor components, which poses risks if TSMC fails to meet obligations[146] - The company has entered into a Foundry Service Agreement with TSMC, committing to minimum purchase volumes that could adversely affect cash flows[147] Intellectual Property and Licensing - As of February 13, 2025, Butterfly owns approximately 620 issued patents and pending patent applications, with expiration dates ranging from 2030 to 2045[96] - The company licenses wafer bonding technology for ultrasound applications from Stanford on a non-exclusive basis, which is critical for product sales[206] - The company has licensed parts of its Ultrasound on a Chip™ technology to Forest Neurotech in 2023, indicating ongoing strategic licensing efforts[209] - The company faces potential disputes over intellectual property rights, which could impact its ability to develop and commercialize products[213] Employee and Organizational Structure - As of January 31, 2025, Butterfly employed approximately 190 people, with 165 located in the United States[79] - Butterfly offers a competitive total rewards package including market-competitive base salaries, annual target cash bonuses, and long-term equity incentives[80] - Employees receive 100% coverage for medical, dental, and vision insurance, along with an employer-funded health savings account[81] Risks and Challenges - The company faces competition from established manufacturers of traditional ultrasound devices, which may impact its market acceptance and revenue generation[132] - The healthcare market is characterized by rapid technological evolution and intense competition, which may further disrupt the industry[163] - Unfavorable global economic conditions, including inflation and interest rates, could weaken demand for the company's products and impact its ability to raise capital[167] - The company faces risks related to compliance with the Foreign Corrupt Practices Act (FCPA) and other anti-bribery laws, which could result in significant penalties and operational disruptions[170]

Financial Data and Key Metrics Changes - In 2024, Butterfly Network reported revenue of $82.1 million, representing a 25% increase year-over-year, while adjusted EBITDA loss improved by 42% to $38.9 million [9][43] - The fourth quarter of 2024 saw revenue of $22.4 million, the highest quarterly result in the company's history, marking a 35% increase compared to the prior year [38] - Gross profit for Q4 2024 was $13.7 million, a 45% increase from the prior year, with gross profit margin rising to 61% from 57% [42] Business Line Data and Key Metrics Changes - The iQ3 product accounted for 50% of overall sales in units and 58% of probe revenue in 2024, with higher average selling prices compared to previous devices [13] - Product revenue in Q4 2024 was $14.7 million, a 45% increase year-over-year, while software and other services revenue was $7.6 million, up 20% [40] - Total annual recurring revenue grew slightly, led by an 8% increase in enterprise software subscription ARR [41] Market Data and Key Metrics Changes - U.S. revenue in Q4 2024 was $14.5 million, a 32% increase from the prior year, driven by higher average selling prices and strong demand [39] - International revenue increased by 19% year-over-year to $5.5 million, driven by higher probe volume [39] - The company received EU MDR for iQ+ and iQ3, facilitating access to new markets in Europe and Asia [18] Company Strategy and Development Direction - Butterfly Network aims to expand its digital ecosystem and enhance accessibility to ultrasound technology, targeting a vision where every healthcare provider has a personal imaging device [10] - The company is focusing on scaling its core POCUS business and developing software improvements for data management workflows [22] - Strategic initiatives include expanding partnerships within the Butterfly Garden and commercializing chip technology through Octiv [23][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving long-term growth targets, emphasizing the importance of the HomeCare and Octiv businesses as significant growth drivers [62][66] - The company plans to maintain fiscal discipline while investing in growth initiatives, projecting 2025 revenue of $96 million to $100 million, representing approximately 20% growth [49] - Management highlighted the successful pilot programs in HomeCare, indicating potential for significant cost savings and improved patient care [31][34] Other Important Information - Butterfly Network raised $81.7 million from a follow-on offering in January 2025, providing a bridge to cash flow independence [48] - The company is actively developing a wearable ultrasound device, with plans to integrate it into the HomeCare model as market demand grows [88][90] Q&A Session Summary Question: Update on confidence level for reaching $500 million revenue target - Management is bullish about growth initiatives and believes they are on track to achieve long-term revenue goals, particularly in the core business and new areas like Octiv and HomeCare [62][64] Question: Steps required to transition HomeCare from pilot to revenue-generating franchise - The transition involves training on-site personnel and utilizing telemedicine for scalability, with a 90-day process for training expected [75][79] Question: Update on wearable ultrasound program - The wearable device is in development, with a focus on building market demand before launching the product [88][90] Question: Details on HomeCare pilot and patient involvement - The pilot involves training 18 nurses across two facilities, with an initial target of 200 patients, and no readmissions reported so far [92][95] Question: Hardware developments and iQ station update - The company is working on next-generation hardware and the iQ station, which will expand into the lower-end cart business [97][99] Question: Clarification on revenue guidance - The 2025 revenue guidance does not include new revenue streams from Octiv or HomeCare, only existing contracts [104][105]

Preliminary Results Announcement - Butterfly Network, Inc. announced preliminary results for the fourth quarter ended December 31, 2024[3] - The press release detailing the preliminary results was dated January 8, 2025[5] Press Release Details - The press release is incorporated by reference as Exhibit 99.1[3] - The press release is not subject to the liabilities of Section 18 of the Exchange Act[4] - The press release is not incorporated by reference in any filing under the Securities Act or the Exchange Act unless expressly set forth by specific reference[4] Regulatory Information - The information in Item 2.02 is not deemed "filed" for purposes of Section 18 of the Exchange Act[4] Report Filing and Signatory - The report was signed by Heather C. Getz, CPA, Executive Vice President and Chief Financial & Operations Officer[8] - The report was filed on January 8, 2025[8] Company Contact Information - The company's principal executive offices are located at 1600 District Avenue, Burlington, Massachusetts 01803[1] - The company's telephone number is (781) 557-4800[1]

Company Overview - Butterfly Network, Inc. (BFLY) is expected to report a year-over-year increase in earnings due to higher revenues for the quarter ended December 2024 [1] - The earnings report is anticipated to be released on February 28, 2025, and could influence the stock price depending on whether the results meet or exceed expectations [2] Earnings Estimates - The consensus estimate indicates a quarterly loss of $0.10 per share, reflecting a year-over-year change of +52.4% [3] - Revenues are projected to be $22.31 million, which is a 35.1% increase from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [4] - The Most Accurate Estimate for Butterfly Network is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +10% [10] Earnings Surprise Prediction - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [8] - However, Butterfly Network currently holds a Zacks Rank of 4 (Sell), complicating the prediction of an earnings beat [11] Historical Performance - In the last reported quarter, Butterfly Network was expected to post a loss of $0.10 per share but actually reported a loss of $0.08, resulting in a surprise of +20% [12] - Over the last four quarters, the company has beaten consensus EPS estimates three times [13] Industry Comparison - Health Catalyst (HCAT), another player in the Zacks Medical Info Systems industry, is expected to post earnings of $0.11 per share for the same quarter, indicating a year-over-year change of +450% [17] - Health Catalyst's revenues are expected to be $79.83 million, up 6.3% from the previous year [17] - Despite a recent downward revision of 18.8% in the consensus EPS estimate for Health Catalyst, it has an Earnings ESP of -19.05% and a Zacks Rank of 3 (Hold) [18]