Butterfly Network, Inc. (BFLY) Stock Analysis
Healthcare · Medical Devices · NYSE
Butterfly Network, Inc. (BFLY) posted $97.61M in revenue for fiscal 2025 (up 19.0% year over year), with a net loss of $77.06M, and has compounded revenue about 16.1%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Butterfly Network, Inc.
Butterfly Network, Inc. has grown revenue from $27.58M to $97.61M over the last 7 fiscal years, compounding about 16.1% a year. The most recent year was up 19%, so growth is actually accelerating.
Net margin sits at -79%, up 9.3 points year over year on a 46.9% gross margin.
The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Butterfly Network, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Butterfly Network, Inc. revenue & earnings — last 7 fiscal years
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $27.58M | $46.25M | $62.56M | $73.39M | $65.90M | $82.06M | $97.61M |
| Gross profit | $-20.89M | $-61.22M | $17.05M | $39.46M | $16.86M | $48.83M | $45.73M |
| Net income | $-99.70M | $-162.75M | $-32.41M | $-168.72M | $-133.70M | $-72.49M | $-77.06M |
| Net margin | -361.4% | -351.9% | -51.8% | -229.9% | -202.9% | -88.3% | -79.0% |
Source: Butterfly Network, Inc. SEC filings (10-K).
Butterfly Network, Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 26.3% over 3 years (200.9M → 253.7M) — existing holders' stakes are being diluted.
- Currently unprofitableThe latest fiscal year was a net loss (net margin -79.0%).
Explore 7 years of Butterfly Network, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Butterfly Network, Inc. financial history by metric
About Butterfly Network, Inc.
Butterfly Network, Inc. develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. The company offers Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging on a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; Butterfly Move, merging the mobility of a handheld with the stability of a full cart system; and iQ+ Bladder, a specialty product for bladder scanning market. It also provides Compass AI which offers one system to connect every device, workflow, and department; ScanLab, an AI-powered educational platform that provides written walkthroughs and reference imagery to guide real-time educational scanning; and Butterfly iQ+/iQ3 Vet, a third generation handheld ultrasound system. It sells and markets its products through a direct sales force, distributors, and e-commerce channels. Butterfly Network, Inc. was founded in 2011 and is headquartered in Burlington, Massachusetts.
Butterfly Network, Inc. — frequently asked questions
What is Butterfly Network, Inc.'s revenue?
Butterfly Network, Inc. (BFLY) reported revenue of $97.61M for fiscal year 2025, up 19.0% from the prior year, according to its SEC filings.
Is Butterfly Network, Inc. profitable?
No — BFLY reported a net loss of $-77.06M in fiscal 2025.
What is BFLY's P/E ratio?
Butterfly Network, Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is Butterfly Network, Inc. growing?
BFLY's revenue grew at roughly 16.1% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Butterfly Network, Inc. have?
As of fiscal year 2025, BFLY carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Butterfly Network, Inc.'s gross margin?
BFLY's gross margin was 46.9% in fiscal 2025 — gross profit of $45.73M on revenue of $97.61M.
What is Butterfly Network, Inc.'s market cap?
Butterfly Network, Inc. (BFLY) has a market capitalization of about $1.42B, based on the latest data in our nightly-refreshed cache.
When does Butterfly Network, Inc.'s fiscal year end?
BFLY's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Butterfly Network, Inc.'s official SEC filings (10-K and 10-Q), covering 7 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.