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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $97.61M | $82.06M | $65.90M | $73.39M | $46.25M | - |
| Cost of Revenue | $33.23M | $33.23M | $49.04M | $33.93M | $107.47M | - |
| Gross Profit | $45.73M | $48.83M | $16.86M | $39.46M | ($61.22M) | - |
| R&D | $36.26M | $37.80M | $55.62M | $89.12M | $49.74M | - |
| SG&A | $39.23M | $39.81M | $49.61M | $83.47M | $24.39M | - |
| Total Operating Expenses | $132.15M | $123.24M | $162.47M | $232.48M | $100.40M | $3.77M |
| D&A | $6.70M | $8.90M | $8.70M | $5.93M | $1.32M | - |
| Operating Income | ($86.42M) | ($74.41M) | ($145.61M) | ($193.02M) | ($161.62M) | ($3.77M) |
| Interest Expense | $1.49M | $1.26M | - | $2.0K | $1.14M | - |
| Income Tax | $110.0K | ($32.0K) | $82.0K | $42.0K | $39.0K | $36.6K |
| Net Income | ($77.06M) | ($72.49M) | ($133.70M) | ($168.72M) | ($162.75M) | ($3.45M) |
| EPS - Basic | ($0.31) | ($0.34) | ($0.65) | ($0.84) | ($26.87) | - |
| EPS - Diluted | ($0.31) | ($0.34) | ($0.65) | ($0.84) | ($26.87) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $150.49M | $88.78M | $134.44M | $162.56M | $90.00M | $158.6K |
| Accounts Receivable | $26.74M | $20.79M | $13.42M | $14.69M | $11.94M | - |
| Inventory | $61.39M | $70.79M | $73.02M | $59.97M | $36.24M | - |
| Accounts Payable | $5.44M | $4.25M | $5.09M | $7.21M | $5.80M | - |
| Current Assets | $249.10M | $192.61M | $231.26M | $357.14M | $511.90M | $318.1K |
| Total Assets | $296.53M | $256.08M | $304.27M | $417.57M | $571.97M | $414.65M |
| Current Liabilities | $65.12M | $48.22M | $44.27M | $51.33M | $49.83M | $67.7K |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $100.55M | $87.25M | $84.22M | $92.21M | $124.27M | $17.29M |
| Stockholders' Equity | $195.98M | $168.83M | $220.05M | $325.36M | $447.69M | $5.00M |
| Retained Earnings | ($879.19M) | ($802.13M) | ($729.64M) | ($595.94M) | ($427.21M) | ($3.45M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($12.70M) | ($41.71M) | ($98.82M) | ($169.12M) | ($81.70M) | ($1.17M) |
| Investing Cash Flow | ($3.35M) | ($2.66M) | $70.41M | ($93.78M) | ($2.38M) | ($413.98M) |
| Financing Cash Flow | $77.76M | ($1.50M) | $228.0K | $2.88M | $54.28M | $415.30M |
| CapEx | $3.35M | $2.69M | $5.78M | $18.30M | $2.38M | - |
| Free Cash Flow | ($16.05M) | ($44.40M) | ($104.60M) | ($187.42M) | ($84.08M) | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 46.9% | 59.5% | 25.6% | 53.8% | -132.4% | - |
| Operating margin | -88.5% | -90.7% | -221.0% | -263.0% | -349.4% | - |
| EBITDA margin | -81.7% | -79.8% | -207.8% | -254.9% | -346.6% | - |
| Net margin | -79.0% | -88.3% | -202.9% | -229.9% | -351.9% | - |
| Free cash flow margin | -16.4% | -54.1% | -158.7% | -255.4% | -181.8% | - |
| FCF / Net income | 0.21 | 0.61 | 0.78 | 1.11 | 0.52 | - |
| R&D / Revenue | 37.1% | 46.1% | 84.4% | 121.4% | 107.5% | - |
| SG&A / Revenue | 40.2% | 48.5% | 75.3% | 113.7% | 52.7% | - |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -26.0% | -28.3% | -43.9% | -40.4% | -28.5% | -0.8% |
| Return on equity | -39.3% | -42.9% | -60.8% | -51.9% | -36.4% | -69.1% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 3.83 | 3.99 | 5.22 | 6.96 | 10.27 | 4.70 |
| Quick ratio | 2.88 | 2.53 | 3.57 | 5.79 | 9.55 | 4.70 |
| Cash ratio | 2.31 | 1.84 | 3.04 | 3.17 | 1.81 | 2.34 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -58.0x | -59.0x | - | -96510.0x | -141.6x | - |
| Equity multiplier | 1.51 | 1.52 | 1.38 | 1.28 | 1.28 | 82.93 |
| Liabilities / Assets | 0.34 | 0.34 | 0.28 | 0.22 | 0.22 | 0.04 |
| Efficiency | ||||||
| Asset turnover | 0.33 | 0.32 | 0.22 | 0.18 | 0.08 | - |
| Inventory turnover | 0.54 | 0.47 | 0.67 | 0.57 | 2.97 | - |
| Days sales outstanding | 100d | 92d | 74d | 73d | 94d | - |
| Days inventory outstanding | 674d | 778d | 543d | 645d | 123d | - |
| Days payable outstanding | 60d | 47d | 38d | 78d | 20d | - |
| Cash conversion cycle | 715d | 823d | 580d | 641d | 198d | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 4.8x | 3.9x | 1.0x | 1.5x | 0.1x | - |
| P / S | 9.6x | 8.0x | 3.4x | 6.7x | 0.9x | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 19.0% | 24.5% | -10.2% | 58.7% | - | - |
| Revenue CAGR (3y) | 10.0% | 21.1% | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | -6.3% | 189.7% | -57.3% | - | - | - |
| Operating income growth (YoY) | -16.1% | 48.9% | 24.6% | -19.4% | -4182.3% | - |
| Net income growth (YoY) | -6.3% | 45.8% | 20.8% | -3.7% | -4610.6% | - |
| EPS growth (YoY) | 8.8% | 47.7% | 22.6% | 96.9% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 63.9% | 57.6% | 44.2% | -122.9% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 16.1% | -23.3% | -32.4% | -27.3% | 8853.8% | - |
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%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-1.82
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
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.