Butterfly Network Inc (BFLYW) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BFLYW SEC filings page.
Butterfly Network Inc (BFLYW) reported $102.9M in revenue over the twelve months to Mar 31, 2026, up 20.2% 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).
Revenue growth is being offset by cost volatility, while reduced cash consumption still depends on fresh financing rather than operating profits.
In FY2025, revenue grew19.0% while gross profit contracted6.3% , showing added volume was absorbed by higher product costs rather than converted into incremental gross profit. That pushed gross margin down to46.9% even as operating expenses stayed near$75.5M , leaving operating losses around-$86.4M .
Operating cash flow improved to
Financing cash flow of
Financial Health Signals
Butterfly Network Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
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 $26.5M in revenue in Q1 2026. This represents an increase of 25.0% from the same quarter a year earlier. Against the prior quarter it is down 15.8%.
Butterfly Network Inc reported -$12.7M in net income in Q1 2026. This represents an increase of 9.2% from the same quarter a year earlier. Against the prior quarter it is up 17.3%.
Butterfly Network Inc earned -$0.05 per diluted share (EPS) in Q1 2026. This represents an increase of 16.7% from the same quarter a year earlier.
Not reported for Q1 2026.
Cash & Balance Sheet
Butterfly Network Inc recorded an outflow of $14.8M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents a decrease of 23.4% from the same quarter a year earlier. Against the prior quarter it is down 286.8%.
Butterfly Network Inc held $138.0M in cash as of Q1 2026; long-term debt is not reported for that period.
Not reported for Q1 2026.
Margins & Returns
Butterfly Network Inc's gross margin was 68.9% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is up 5.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.6 percentage points.
Butterfly Network Inc's operating margin was -52.3% in Q1 2026, reflecting core business profitability. This is up 34.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.
Butterfly Network Inc's net profit margin was -47.8% in Q1 2026, showing the share of revenue converted to profit. This is up 18.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Butterfly Network Inc's ROE was -6.6% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.
Capital Allocation
Butterfly Network Inc invested $9.5M in research and development in Q1 2026. This represents a decrease of 3.9% from the same quarter a year earlier. Against the prior quarter it is up 2.3%.
Butterfly Network Inc invested $950K in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 169.1% from the same quarter a year earlier. Against the prior quarter it is down 12.3%.
Not reported for Q1 2026.
BFLYW 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $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% | $21.5M+16.2% |
| Cost of Revenue | $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% | $8.9M+17.7% |
| Gross Profit | $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% | $12.6M+15.2% |
| R&D Expenses | $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% | $9.4M-39.8% |
| SG&A Expenses | $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% | $10.1M-31.3% |
| Operating Income | -$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% | -$17.2M+44.9% |
| Interest Expense | $279K-19.6% | $390K+17.1% | $385K+20.7% | $368K+19.1% | $347K+15.7% | $333K | $319K | $309K |
| Income Tax | $0-100.0% | $67K+160.9% | $16K-72.4% | $20K+17.6% | $7K+133.3% | -$110K-10900.0% | $58K+2800.0% | $17K+383.3% |
| Net Income | -$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% | -$15.7M+45.2% |
| EPS (Basic) | -$0.05+16.7% | N/A | -$0.13-62.5% | -$0.06+14.3% | -$0.06+40.0% | N/A | -$0.08+38.5% | -$0.07+50.0% |
| EPS (Diluted) | -$0.05+16.7% | N/A | -$0.13-62.5% | -$0.06+14.3% | -$0.06+40.0% | N/A | -$0.08+38.5% | -$0.07+50.0% |
| Diluted Shares (Avg) | 257M+9.2% | N/A | 252M+18.5% | 248M+17.4% | 235M+12.5% | N/A | 213M+2.9% | 212M+3.3% |
Not reported in any period shown, so not listed: EBITDA.
BFLYW 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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% | $273.1M-25.1% |
| Current Assets | $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% | $204.5M-29.9% |
| Cash & Equivalents | $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% | $102.1M-38.8% |
| Inventory | $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% | $74.2M-14.6% |
| Accounts Receivable | $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% | $16.1M-9.4% |
| Total Liabilities | $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% | $78.8M-9.3% |
| Current Liabilities | $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% | $40.8M-11.0% |
| Non-Current Liabilities | $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% | $38.0M-7.4% |
| Total Equity | $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% | $194.3M-30.0% |
| Retained Earnings | -$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% | -$767.1M-16.6% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill, Long-Term Debt.
BFLYW 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$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% | -$10.0M+62.2% |
| Stock-Based Compensation | $5.5M-11.8% | N/A | $4.9M+11.6% | $5.9M+0.1% | $6.3M+13.8% | N/A | $4.4M-35.3% | $5.9M-41.0% |
| Capital Expenditures | $950K+169.1% | $1.1M+165.4% | $1.0M+145.4% | $896K+22.1% | $353K-69.0% | $408K-83.8% | $414K-60.5% | $734K-16.7% |
| Free Cash Flow | -$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% | -$10.7M+60.8% |
| Investing Cash Flow | -$950K-169.1% | -$1.1M-165.4% | -$1.0M-146.0% | -$896K-28.2% | -$353K+69.0% | -$408K+83.8% | -$413K+60.6% | -$699K+20.7% |
| Financing Cash Flow | $2.3M-97.1% | -$1.7M-13.2% | $0 | $987K | $78.5M | -$1.5M | $0-100.0% | $0-100.0% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Dividends Paid, Share Buybacks.
BFLYW 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 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 | 58.6%-0.5pp |
| Operating Margin | -52.3%+34.7pp | -53.0%+24.4pp | -163.5% | -68.8%+11.4pp | -87.0% | -77.5% | -83.9% | -80.2% |
| Net Margin | -47.8%+18.0pp | -48.6%+32.4pp | -158.1% | -59.2%+13.9pp | -65.8% | -81.0% | -82.3% | -73.1% |
| Return on Equity | -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 | -8.1%+2.2pp |
| Return on Assets | -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 | -5.8%+2.1pp |
| Current Ratio | 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 | 5.01-1.4x |
| Debt-to-Equity | 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 | 0.41+0.1x |
| Asset Turnover | 0.090.0x | 0.110.0x | 0.070.0x | 0.070.0x | 0.070.0x | 0.090.0x | 0.080.0x | 0.080.0x |
| FCF Margin | -56.0%+0.7pp | 25.2%+41.0pp | -18.2%+22.4pp | -34.5%+15.5pp | -56.7% | -15.8%+78.8pp | -40.5% | -50.0% |
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.
Where Butterfly Network Inc Ranks
Frequently Asked Questions
What is Butterfly Network Inc's annual revenue?
Butterfly Network Inc (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 (BFLYW) invested $36.3M in research and development during fiscal year 2025.
What is Butterfly Network Inc's current ratio?
Butterfly Network Inc (BFLYW) 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 (BFLYW) 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 (BFLYW) 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 Piotroski F-Score?
Butterfly Network Inc (BFLYW) 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 (BFLYW) 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 (BFLYW) 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.