BFLY · Butterfly Network, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.53M | - | $21.49M | $23.38M | $21.23M | - | $20.56M | $21.49M | $17.66M | - |
| Cost of Revenue | $8.24M | - | $8.33M | $8.90M | $7.38M | - | $8.33M | $8.90M | $7.38M | - |
| Gross Profit | $18.29M | - | ($3.76M) | $14.89M | $13.38M | - | $12.23M | $12.59M | $10.28M | - |
| R&D | $9.54M | - | $8.70M | $8.31M | $9.92M | - | $8.84M | $9.41M | $10.72M | - |
| SG&A | $10.82M | - | $9.29M | $9.13M | $9.60M | - | $9.35M | $10.07M | $10.44M | - |
| Total Operating Expenses | $32.16M | - | $31.38M | $30.99M | $31.85M | - | $29.48M | $29.82M | $32.90M | - |
| D&A | - | - | - | - | - | - | - | - | - | - |
| Operating Income | ($13.87M) | - | ($35.13M) | ($16.10M) | ($18.47M) | - | ($17.25M) | ($17.23M) | ($22.62M) | - |
| Interest Expense | $279.0K | - | $385.0K | $368.0K | $300.0K | - | $319.0K | $309.0K | $300.0K | - |
| Income Tax | $0 | - | $16.0K | $20.0K | $7.0K | - | $58.0K | $17.0K | $3.0K | - |
| Net Income | ($12.68M) | - | ($33.97M) | ($13.83M) | ($13.97M) | - | ($16.92M) | ($15.71M) | ($21.76M) | - |
| EPS - Basic | ($0.05) | - | ($0.13) | ($0.06) | ($0.06) | - | ($0.08) | ($0.07) | ($0.10) | - |
| EPS - Diluted | ($0.05) | - | ($0.13) | ($0.06) | ($0.06) | - | ($0.08) | ($0.07) | ($0.10) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $137.95M | $150.49M | $144.23M | $148.14M | $155.21M | $88.78M | $93.76M | $102.05M | $112.65M | $134.44M |
| Accounts Receivable | $25.21M | $26.74M | $24.42M | $24.53M | $19.88M | $20.79M | $20.62M | $16.11M | $13.91M | $13.42M |
| Inventory | $59.30M | $61.39M | $62.23M | $68.91M | $69.31M | $70.79M | $73.27M | $74.17M | $74.49M | $73.02M |
| Accounts Payable | $2.82M | $5.44M | $3.31M | $3.32M | $2.28M | $4.25M | $3.65M | $4.51M | $5.81M | $5.09M |
| Current Assets | $239.79M | $249.10M | $241.39M | $253.75M | $257.38M | $192.61M | $199.49M | $204.48M | $213.27M | $231.26M |
| Total Assets | $285.92M | $296.53M | $290.00M | $313.28M | $318.41M | $256.08M | $265.27M | $273.07M | $284.29M | $304.27M |
| Current Liabilities | $59.58M | $65.12M | $50.33M | $44.67M | $42.48M | $48.22M | $42.79M | $40.78M | $41.54M | $44.27M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $94.70M | $100.55M | $86.17M | $80.47M | $78.72M | $87.25M | $83.44M | $78.79M | $80.28M | $84.22M |
| Stockholders' Equity | $191.22M | $195.98M | $203.83M | $232.81M | $239.70M | $168.83M | $181.83M | $194.28M | $204.00M | $220.05M |
| Retained Earnings | ($891.87M) | ($879.19M) | ($863.90M) | ($829.93M) | ($816.10M) | ($802.13M) | ($784.03M) | ($767.11M) | ($751.40M) | ($729.64M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($13.89M) | - | - | - | ($11.68M) | - | - | - | ($20.67M) | - |
| Investing Cash Flow | ($950.0K) | - | - | - | ($353.0K) | - | - | - | ($1.14M) | - |
| Financing Cash Flow | $2.31M | - | - | - | $0 | - | - | - | - | - |
| CapEx | $950.0K | - | - | - | $353.0K | - | - | - | $1.14M | - |
| Free Cash Flow | ($14.84M) | - | - | - | ($12.03M) | - | - | - | ($21.80M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 68.9% | - | -17.5% | 63.7% | 63.0% | - | 59.5% | 58.6% | 58.2% | - |
| Operating margin | -52.3% | - | -163.5% | -68.9% | -87.0% | - | -83.9% | -80.2% | -128.1% | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | -47.8% | - | -158.1% | -59.2% | -65.8% | - | -82.3% | -73.1% | -123.2% | - |
| Free cash flow margin | -56.0% | - | - | - | -56.7% | - | - | - | -123.5% | - |
| FCF / Net income | 1.17 | - | - | - | 0.86 | - | - | - | 1.00 | - |
| R&D / Revenue | 36.0% | - | 40.5% | 35.6% | 46.8% | - | 43.0% | 43.8% | 60.7% | - |
| SG&A / Revenue | 40.8% | - | 43.2% | 39.0% | 45.2% | - | 45.5% | 46.9% | 59.1% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -4.4% | - | -11.7% | -4.4% | -4.4% | - | -6.4% | -5.8% | -7.7% | - |
| Return on equity | -6.6% | - | -16.7% | -5.9% | -5.8% | - | -9.3% | -8.1% | -10.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 4.02 | 3.83 | 4.80 | 5.68 | 6.06 | 3.99 | 4.66 | 5.01 | 5.13 | 5.22 |
| Quick ratio | 3.03 | 2.88 | 3.56 | 4.14 | 4.43 | 2.53 | 2.95 | 3.20 | 3.34 | 3.57 |
| Cash ratio | 2.32 | 2.31 | 2.87 | 3.32 | 3.65 | 1.84 | 2.19 | 2.50 | 2.71 | 3.04 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -49.7x | - | -91.3x | -43.8x | -61.6x | - | -54.1x | -55.8x | -75.4x | - |
| Equity multiplier | 1.50 | 1.51 | 1.42 | 1.35 | 1.33 | 1.52 | 1.46 | 1.41 | 1.39 | 1.38 |
| Liabilities / Assets | 0.33 | 0.34 | 0.30 | 0.26 | 0.25 | 0.34 | 0.31 | 0.29 | 0.28 | 0.28 |
| Efficiency | ||||||||||
| Asset turnover | 0.09 | - | 0.07 | 0.07 | 0.07 | - | 0.08 | 0.08 | 0.06 | - |
| Inventory turnover | 0.14 | - | 0.13 | 0.13 | 0.11 | - | 0.11 | 0.12 | 0.10 | - |
| Days sales outstanding | 347d | - | 415d | 383d | 342d | - | 366d | 274d | 288d | - |
| Days inventory outstanding | 2625d | - | 2728d | 2826d | 3428d | - | 3211d | 3042d | 3684d | - |
| Days payable outstanding | 125d | - | 145d | 136d | 113d | - | 160d | 185d | 287d | - |
| Cash conversion cycle | 2847d | - | 2997d | 3072d | 3657d | - | 3417d | 3130d | 3685d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 5.4x | - | 2.4x | 2.1x | 2.2x | - | 2.1x | 0.9x | 1.1x | - |
| P / S | 39.1x | - | 22.6x | 21.2x | 25.2x | - | 18.3x | 8.3x | 12.8x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 25.0% | - | 4.5% | 8.8% | 20.2% | - | 33.3% | 16.2% | 14.1% | - |
| Revenue CAGR (3y) | 19.7% | - | 3.1% | 6.8% | 10.9% | - | 12.0% | 9.2% | 26.8% | - |
| Revenue CAGR (5y) | 25.1% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 36.7% | - | - | 18.3% | 30.2% | - | 30.4% | 15.2% | 13.1% | - |
| Operating income growth (YoY) | 24.9% | - | -103.7% | 6.6% | 18.4% | - | 47.0% | 44.9% | 35.5% | - |
| Net income growth (YoY) | 9.2% | - | -100.7% | 11.9% | 35.8% | - | 38.2% | 45.2% | 35.1% | - |
| EPS growth (YoY) | 16.7% | - | -62.5% | 14.3% | 40.0% | - | 38.5% | 50.0% | 41.2% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -23.4% | - | - | - | 44.8% | - | - | - | 51.1% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -20.2% | 16.1% | 12.1% | 19.8% | 17.5% | -23.3% | -29.4% | -30.0% | -31.1% | -32.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$97.61M totalReportable Segment$97.61M · 100.0%
Product / service
$131.78M totalProduct$63.44M · 48.1%
Software And Other Services$34.17M · 25.9%
Service Other$34.17M · 25.9%
Geographic
$97.61M totalUS$77.44M · 79.3%
Non Us$20.17M · 20.7%
Peer comparison
Same SIC group: X-Ray Apparatus & Tubes & Related Irradiation Apparatus
Comparing Butterfly Network against the 4 most active filers in the same SIC group.