Butterfly Network, Inc. (BFLY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BFLY SEC filings page.
Butterfly Network, Inc. (BFLY) reported $112.1M in revenue over the twelve months to Jun 30, 2026, up 28.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Butterfly's revenue reached $97.6M , yet weaker gross economics and continued losses mean growth still does not fund operations.
From FY2024 to FY2025, revenue increased19.0% while cost of revenue rose56.1% , pushing gross margin from59.5% to46.9% . Incremental sales became less profitable, indicating that the year's growth reflected a less favorable cost or product mix rather than simple scale benefits.
Cash conversion improved sharply relative to accounting results: FY2025 showed a net loss of
Financing-led balance-sheet support is visible in FY2025's
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Butterfly Network, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Butterfly Network, Inc. held $150.5M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $12.7M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Butterfly Network, Inc. scores 96/100 among other emerging companies.
Not available for Butterfly Network, Inc., and counted as zero in the overall score.
Butterfly Network, Inc. spent $36.3M on research and development in fiscal year 2025, which was 19.7% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Butterfly Network, Inc. scores 51/100 among other emerging companies.
Butterfly Network, Inc. reported revenue of $97.6M in fiscal year 2025, against $82.1M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Butterfly Network, Inc. scores 65/100 among other emerging companies.
Butterfly Network, Inc.'s operations used $12.7M of cash in fiscal year 2025, against $41.7M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Butterfly Network, Inc. scores 84/100 among other emerging companies.
Butterfly Network, Inc.'s cash, cash equivalents and investments came to $150.5M at the end of fiscal year 2025, against $100.6M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Butterfly Network, Inc. scores 69/100 among other emerging companies.
Butterfly Network, Inc. scores 7.48, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.9B) relative to total liabilities ($100.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Butterfly Network, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Butterfly Network, Inc. reported a net loss of $77.1M while operations used $12.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Butterfly Network, Inc. reported an operating loss of $86.4M against $1.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Butterfly Network, Inc. generated $32.6M in revenue in Q2 2026. This represents an increase of 39.5% from the same quarter a year earlier. Against the prior quarter it is up 22.9%.
Butterfly Network, Inc. reported -$12.9M in net income in Q2 2026. This represents an increase of 6.7% from the same quarter a year earlier. Against the prior quarter it is down 1.8%.
Butterfly Network, Inc. earned -$0.05 per diluted share (EPS) in Q2 2026. This represents an increase of 16.7% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Cash & Balance Sheet
Butterfly Network, Inc. recorded an outflow of $17.2M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 113.9% from the same quarter a year earlier. Against the prior quarter it is down 16.2%.
Butterfly Network, Inc. held $124.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Butterfly Network, Inc.'s gross margin was 71.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 7.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.5 percentage points.
Butterfly Network, Inc.'s operating margin was -41.9% in Q2 2026, reflecting core business profitability. This is up 27.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.4 percentage points.
Butterfly Network, Inc.'s net profit margin was -39.6% in Q2 2026, showing the share of revenue converted to profit. This is up 19.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.2 percentage points.
Butterfly Network, Inc.'s ROE was -6.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Capital Allocation
Butterfly Network, Inc. invested $10.5M in research and development in Q2 2026. This represents an increase of 26.8% from the same quarter a year earlier. Against the prior quarter it is up 10.5%.
Butterfly Network, Inc. invested $974K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 8.7% from the same quarter a year earlier. Against the prior quarter it is up 2.5%.
Not reported for Q2 2026.
BFLY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32.6M+39.5% | $26.5M+25.0% | $31.5M+41.0% | $21.5M+4.5% | $23.4M+8.8% | $21.2M+20.2% | $22.4M+35.3% | $20.6M+33.3% |
| Cost of Revenue | $9.3M+9.8% | $8.2M+5.1% | $10.3M+19.5% | $25.2M+203.1% | $8.5M-4.6% | $7.8M+6.3% | $8.6M-70.3% | $8.3M+37.9% |
| Gross Profit | $23.3M+56.4% | $18.3M+36.7% | $21.2M+54.5% | -$3.8M-130.7% | $14.9M+18.3% | $13.4M+30.2% | $13.7M+209.6% | $12.2M+30.4% |
| R&D Expenses | $10.5M+26.8% | $9.5M-3.9% | $9.3M+5.6% | $8.7M-1.6% | $8.3M-11.6% | $9.9M-7.4% | $8.8M-21.3% | $8.8M-27.1% |
| SG&A Expenses | $11.4M+24.4% | $10.8M+12.7% | $11.2M+12.8% | $9.3M-0.7% | $9.1M-9.4% | $9.6M-8.1% | $9.9M-19.7% | $9.4M-19.1% |
| Operating Income | -$13.7M+15.1% | -$13.9M+24.9% | -$16.7M+3.5% | -$35.1M-103.7% | -$16.1M+6.6% | -$18.5M+18.4% | -$17.3M+63.0% | -$17.2M+47.0% |
| Interest Expense | $282K-23.4% | $279K-19.6% | $390K+17.1% | $385K+20.7% | $368K+19.1% | $347K+15.7% | $333K | $319K |
| Income Tax | $0-100.0% | $0-100.0% | $67K+160.9% | $16K-72.4% | $20K+17.6% | $7K+133.3% | -$110K-10900.0% | $58K+2800.0% |
| Net Income | -$12.9M+6.7% | -$12.7M+9.2% | -$15.3M+15.4% | -$34.0M-100.7% | -$13.8M+11.9% | -$14.0M+35.8% | -$18.1M+59.0% | -$16.9M+38.2% |
| EPS (Basic) | -$0.05+16.7% | -$0.05+16.7% | -$0.06+25.0% | -$0.13-62.5% | -$0.06+14.3% | -$0.06+40.0% | -$0.08+61.9% | -$0.08+38.5% |
| EPS (Diluted) | -$0.05+16.7% | -$0.05+16.7% | -$0.06+25.0% | -$0.13-62.5% | -$0.06+14.3% | -$0.06+40.0% | -$0.08+61.9% | -$0.08+38.5% |
| Diluted Shares (Avg) | 262M+5.5% | 257M+9.2% | N/A | 252M+18.5% | 248M+17.4% | 235M+12.5% | N/A | 213M+2.9% |
Not reported in any period shown, so not listed: EBITDA.
BFLY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $283.0M-9.7% | $285.9M-10.2% | $296.5M+15.8% | $290.0M+9.3% | $313.3M+14.7% | $318.4M+12.0% | $256.1M-15.8% | $265.3M-20.6% |
| Current Assets | $237.9M-6.2% | $239.8M-6.8% | $249.1M+29.3% | $241.4M+21.0% | $253.7M+24.1% | $257.4M+20.7% | $192.6M-16.7% | $199.5M-25.7% |
| Cash & Equivalents | $124.7M-15.8% | $138.0M-11.1% | $150.5M+69.5% | $144.2M+53.8% | $148.1M+45.2% | $155.2M+37.8% | $88.8M-34.0% | $93.8M-37.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $58.6M-15.0% | $59.3M-14.4% | $61.4M-13.3% | $62.2M-15.1% | $68.9M-7.1% | $69.3M-7.0% | $70.8M-3.1% | $73.3M-22.1% |
| Accounts Receivable | $34.6M+40.9% | $25.2M+26.8% | $26.7M+28.6% | $24.4M+18.4% | $24.5M+52.2% | $19.9M+42.9% | $20.8M+55.0% | $20.6M+51.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $93.6M+16.3% | $94.7M+20.3% | $100.6M+15.2% | $86.2M+3.3% | $80.5M+2.1% | $78.7M-2.0% | $87.3M+3.6% | $83.4M+8.6% |
| Current Liabilities | $58.6M+31.2% | $59.6M+40.3% | $65.1M+35.1% | $50.3M+17.6% | $44.7M+9.5% | $42.5M+2.2% | $48.2M+8.9% | $42.8M-5.7% |
| Non-Current Liabilities | $35.0M-2.3% | $35.1M-3.1% | $35.4M-9.2% | $35.8M-11.8% | $35.8M-5.8% | $36.2M-6.5% | $39.0M-2.3% | $40.6M+29.3% |
| Total Equity | $189.4M-18.6% | $191.2M-20.2% | $196.0M+16.1% | $203.8M+12.1% | $232.8M+19.8% | $239.7M+17.5% | $168.8M-23.3% | $181.8M-29.4% |
| Retained Earnings | -$904.8M-9.0% | -$891.9M-9.3% | -$879.2M-9.6% | -$863.9M-10.2% | -$829.9M-8.2% | -$816.1M-8.6% | -$802.1M-9.9% | -$784.0M-14.4% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
BFLY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$16.3M-127.0% | -$13.9M-19.0% | $9.0M+389.5% | -$2.9M+63.5% | -$7.2M+28.3% | -$11.7M+43.5% | -$3.1M+76.2% | -$7.9M+50.4% |
| Stock-Based Compensation | $7.0M+20.0% | $5.5M-11.8% | N/A | $4.9M+11.6% | $5.9M+0.1% | $6.3M+13.8% | N/A | $4.4M-35.3% |
| Capital Expenditures | $974K+8.7% | $950K+169.1% | $1.1M+165.4% | $1.0M+145.4% | $896K+22.1% | $353K-69.0% | $408K-83.8% | $414K-60.5% |
| Free Cash Flow | -$17.2M-113.9% | -$14.8M-23.4% | $7.9M+325.3% | -$3.9M+53.2% | -$8.1M+24.9% | -$12.0M+44.8% | -$3.5M+77.4% | -$8.3M+51.1% |
| Investing Cash Flow | -$974K-8.7% | -$950K-169.1% | -$1.1M-165.4% | -$1.0M-146.0% | -$896K-28.2% | -$353K+69.0% | -$408K+83.8% | -$413K+60.6% |
| Financing Cash Flow | $3.9M+300.0% | $2.3M-97.1% | -$1.7M-13.2% | $0 | $987K | $78.5M | -$1.5M | $0-100.0% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Dividends Paid, Share Buybacks.
BFLY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.4%+7.7pp | 68.9%+5.9pp | 67.3%+5.9pp | -17.5%-77.0pp | 63.7%+5.1pp | 63.0%+4.8pp | 61.5%+137.4pp | 59.5%-1.3pp |
| Operating Margin | -41.9%+27.0pp | -52.3%+34.7pp | -53.0%+24.4pp | -163.5% | -68.8%+11.4pp | -87.0% | -77.5% | -83.9% |
| Net Margin | -39.6%+19.6pp | -47.8%+18.0pp | -48.6%+32.4pp | -158.1% | -59.2%+13.9pp | -65.8% | -81.0% | -82.3% |
| Return on Equity | -6.8%-0.9pp | -6.6%-0.8pp | -7.8%+2.9pp | -16.7%-7.4pp | -5.9%+2.1pp | -5.8%+4.8pp | -10.7%+9.3pp | -9.3%+1.3pp |
| Return on Assets | -4.6%-0.1pp | -4.4%0.0pp | -5.2%+1.9pp | -11.7%-5.3pp | -4.4%+1.3pp | -4.4%+3.3pp | -7.1%+7.4pp | -6.4%+1.8pp |
| Current Ratio | 4.06-1.6x | 4.02-2.0x | 3.83-0.2x | 4.80+0.1x | 5.68+0.7x | 6.06+0.9x | 3.99-1.2x | 4.66-1.3x |
| Debt-to-Equity | 0.49+0.1x | 0.50+0.2x | 0.510.0x | 0.420.0x | 0.35-0.1x | 0.33-0.1x | 0.52+0.1x | 0.46+0.2x |
| Asset Turnover | 0.120.0x | 0.090.0x | 0.110.0x | 0.070.0x | 0.070.0x | 0.070.0x | 0.090.0x | 0.080.0x |
| FCF Margin | -52.9%-18.4pp | -56.0%+0.7pp | 25.2%+41.0pp | -18.2%+22.4pp | -34.5%+15.5pp | -56.7% | -15.8%+78.8pp | -40.5% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Butterfly Network, Inc. BFLY | FY2025 | $97.6M | -$77.1M | -79.0% | $1.9B | 61/100 |
| CeriBell, Inc. CBLL | FY2025 | $89.1M | -$53.4M | -60.0% | $1.1B | 52/100 |
| RxSight, Inc. RXST | FY2025 | $134.5M | -$39 | 0.0% | $194.2M | 73/100 |
| Senseonics Holdings, Inc. SENS | FY2025 | $35.3M | -$69.1M | N/A | $435.2M | 66/100 |
| Delcath Systems Inc DCTH | FY2025 | $85.2M | $2.7M | 3.2% | $513.9M | 79/100 |
| Bioventus Inc. BVS | FY2025 | $568.1M | $22.7M | 4.0% | $943.3M | 42/100 |
Where Butterfly Network, Inc. Ranks
Frequently Asked Questions
What is Butterfly Network, Inc.'s annual revenue?
Butterfly Network, Inc. (BFLY) reported $97.6M in total revenue for fiscal year 2025. This represents a 19.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Butterfly Network, Inc.'s revenue growing?
Butterfly Network, Inc. (BFLY) revenue grew by 19.0% year-over-year, from $82.1M to $97.6M in fiscal year 2025.
Is Butterfly Network, Inc. profitable?
No, Butterfly Network, Inc. (BFLY) reported a net income of -$77.1M in fiscal year 2025, with a net profit margin of -79.0%.
What is Butterfly Network, Inc.'s EBITDA?
Butterfly Network, Inc. (BFLY) had EBITDA of -$79.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Butterfly Network, Inc.'s gross margin?
Butterfly Network, Inc. (BFLY) had a gross margin of 46.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Butterfly Network, Inc.'s operating margin?
Butterfly Network, Inc. (BFLY) had an operating margin of -88.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Butterfly Network, Inc.'s net profit margin?
Butterfly Network, Inc. (BFLY) had a net profit margin of -79.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Butterfly Network, Inc.'s return on equity (ROE)?
Butterfly Network, Inc. (BFLY) has a return on equity of -39.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Butterfly Network, Inc.'s free cash flow?
Butterfly Network, Inc. (BFLY) recorded an outflow of $16.0M in free cash flow during fiscal year 2025. This represents a 63.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Butterfly Network, Inc.'s operating cash flow?
Butterfly Network, Inc. (BFLY) recorded an outflow of $12.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Butterfly Network, Inc.'s total assets?
Butterfly Network, Inc. (BFLY) had $296.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Butterfly Network, Inc.'s capital expenditures?
Butterfly Network, Inc. (BFLY) invested $3.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Butterfly Network, Inc. spend on research and development?
Butterfly Network, Inc. (BFLY) invested $36.3M in research and development during fiscal year 2025.
What is Butterfly Network, Inc.'s current ratio?
Butterfly Network, Inc. (BFLY) had a current ratio of 3.83 as of fiscal year 2025, which is generally considered healthy.
What is Butterfly Network, Inc.'s debt-to-equity ratio?
Butterfly Network, Inc. (BFLY) had a debt-to-equity ratio of 0.51 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Butterfly Network, Inc.'s return on assets (ROA)?
Butterfly Network, Inc. (BFLY) had a return on assets of -26.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Butterfly Network, Inc.'s P/E ratio?
Butterfly Network, Inc. (BFLY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.9B as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Butterfly Network, Inc.'s price-to-sales ratio?
Butterfly Network, Inc. (BFLY) trades at 17.2x sales, its market capitalization divided by revenue of $112.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.9B as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Butterfly Network, Inc.'s Altman Z-Score?
Butterfly Network, Inc. (BFLY) has an Altman Z-Score of 7.48, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Butterfly Network, Inc.'s Piotroski F-Score?
Butterfly Network, Inc. (BFLY) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Butterfly Network, Inc.'s earnings high quality?
Butterfly Network, Inc. (BFLY) reported a net loss of $77.1M while operations used $12.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Butterfly Network, Inc. cover its interest payments?
Butterfly Network, Inc. (BFLY) reported an operating loss of $86.4M against $1.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Butterfly Network, Inc.?
Butterfly Network, Inc. (BFLY) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.