Butterfly Network, Inc. (BFLY) Income Statement
BFLY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBFLY revenue and net income
Where BFLY's revenue goes
2025Each bar shows an amount and its share of revenue. BFLY kept −79.0% of revenue as net income.
BFLY profit margins
BFLY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +19.0% | +10.0% | +16.1% | — |
| Gross profit | −6.3% | +5.0% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BFLY quarterly EPS vs estimates
Butterfly Network beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $-0.05).
BFLY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $97.6M | $82.1M | $65.9M | $73.4M | $62.6M | $46.3M | $27.6M | $1.5M |
| Cost of revenue | $51.9M | $33.2M | $49.0M | $33.9M | $45.5M | $107.5M | $48.5M | $2.3M |
| Gross profit | $45.7M | $48.8M | $16.9M | $39.5M | $17.1M | −$61.2M | −$20.9M | −$729,000 |
| Research & development | $36.3M | $37.8M | $55.6M | $88.0M | $74.5M | $49.7M | $48.9M | $35.0M |
| Sales, general & admin | $85.1M | $85.4M | $106.8M | $144.4M | $135.3M | $50.7M | $32.5M | $17.4M |
| Total operating expenses | $132.1M | $123.2M | $162.5M | $232.5M | $209.8M | $100.4M | $81.4M | $52.4M |
| Operating income | −$86.4M | −$74.4M | −$145.6M | −$193.0M | −$192.7M | −$161.6M | −$102.3M | −$53.1M |
| Interest income | $5.9M | $5.0M | $7.5M | $3.4M | $2.6M | $285,000 | $2.7M | — |
| Interest expense | $1.5M | $1.3M | $0 | $2,000 | $651,000 | $1.1M | $0 | $0 |
| Income before taxes | −$77.0M | −$72.5M | −$133.6M | −$168.7M | −$32.3M | −$162.7M | −$99.7M | −$50.8M |
| Income taxes | $110,000 | −$32,000 | $82,000 | $42,000 | $121,000 | $39,000 | −$96,000 | — |
| Net income | −$77.1M | −$72.5M | −$133.7M | −$168.7M | −$32.4M | −$162.7M | −$99.6M | −$50.8M |
| EBITDA | −$67.4M | −$60.9M | −$123.0M | −$162.7M | −$29.5M | −$160.2M | −$98.9M | −$52.7M |
| EPS (diluted) | −$0.16 | −$0.30 | −$0.63 | −$0.83 | −$0.34 | −$0.07 | −$11.16 | — |
| Gross margin | 46.9% | 59.5% | 25.6% | 53.8% | 27.3% | −132.4% | −75.8% | −47.8% |
| Operating margin | −88.5% | −90.7% | −221.0% | −263.0% | −308.0% | −349.4% | −370.9% | −3,478.8% |
| Net margin | −79.0% | −88.3% | −202.9% | −229.9% | −51.8% | −351.9% | −361.1% | −3,326.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $32.6M | $26.5M | $31.5M | $21.5M | $23.4M | $21.2M | $22.4M | $20.6M | $21.5M | $17.7M | $16.5M | $15.4M |
| Cost of revenue | $9.3M | $8.2M | $10.3M | $25.2M | $8.5M | $7.8M | $8.6M | $8.3M | $8.9M | $7.4M | $29.1M | $6.0M |
| Gross profit | $23.3M | $18.3M | $21.2M | −$3.8M | $14.9M | $13.4M | $13.7M | $12.2M | $12.6M | $10.3M | −$12.5M | $9.4M |
| Research & development | $10.5M | $9.5M | $9.3M | $8.7M | $8.3M | $9.9M | $8.8M | $8.8M | $9.4M | $10.7M | $11.2M | $12.1M |
| Sales, general & admin | $26.4M | $22.6M | $23.3M | $19.9M | $22.7M | $21.9M | $22.2M | $20.6M | $20.4M | $22.2M | $22.7M | $29.8M |
| Total operating expenses | $37.0M | $32.2M | $40.7M | $28.6M | $31.0M | $31.8M | $31.0M | $29.5M | $29.8M | $32.9M | $34.2M | $41.9M |
| Operating income | −$13.7M | −$13.9M | −$19.5M | −$32.4M | −$16.1M | −$18.5M | −$17.3M | −$17.2M | −$17.2M | −$22.6M | −$46.7M | −$32.6M |
| Interest income | $1.1M | $1.2M | $1.3M | $1.4M | $1.5M | $1.7M | $997,000 | $1.2M | $1.3M | $1.5M | $1.7M | $1.9M |
| Interest expense | $282,000 | $279,000 | $390,000 | $385,000 | $368,000 | $347,000 | $333,000 | $319,000 | $309,000 | $300,000 | $1.4M | $0 |
| Income before taxes | −$12.9M | −$12.7M | −$15.2M | −$34.0M | −$13.8M | −$14.0M | −$18.2M | −$16.9M | −$15.7M | −$21.8M | −$44.1M | −$27.4M |
| Income taxes | — | — | $66,000 | $16,000 | $20,000 | $7,000 | −$110,000 | $58,000 | $17,000 | $3,000 | −$1,000 | $2,000 |
| Net income | −$12.9M | −$12.7M | −$15.3M | −$34.0M | −$13.8M | −$14.0M | −$18.1M | −$16.9M | −$15.7M | −$21.8M | −$44.1M | −$27.4M |
| EBITDA | −$11.0M | −$10.6M | −$13.1M | −$31.7M | −$11.4M | −$11.3M | −$15.4M | −$13.9M | −$12.7M | −$18.9M | −$41.9M | −$23.3M |
| EPS (diluted) | −$0.04 | −$0.03 | −$0.05 | −$0.04 | −$0.03 | −$0.04 | −$0.08 | −$0.05 | −$0.07 | −$0.10 | −$0.21 | −$0.12 |
| Gross margin | 71.4% | 68.9% | 67.3% | −17.5% | 63.7% | 63.0% | 61.4% | 59.5% | 58.6% | 58.2% | −75.9% | 60.8% |
| Operating margin | −41.9% | −52.3% | −61.8% | −150.7% | −68.9% | −87.0% | −77.5% | −83.9% | −80.2% | −128.1% | −282.9% | −211.2% |
| Net margin | −39.6% | −47.8% | −48.5% | −158.1% | −59.2% | −65.8% | −81.0% | −82.3% | −73.1% | −123.2% | −267.1% | −177.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BFLY's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BFLY financial results
In fiscal year 2025 (ended December 31, 2025), Butterfly Network reported revenue of $97.6 million, up 19.0% from the year before. It had a net loss of $77.1 million, a net profit margin of −79.0%. Diluted earnings per share came to −$0.16. Over five years revenue grew at an average rate of 16.1% a year.
See the BFLY stock overview for the latest quote and news, or the BFLY chart for price history and technical indicators.
BFLY income statement FAQ
What is Butterfly Network's annual revenue?
Butterfly Network reported total revenue of $97.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 19.0% from $82.1 million the previous year.
Is Butterfly Network profitable?
No. Butterfly Network reported a net loss of $77.1 million in fiscal 2025, a net profit margin of −79.0%; its operating margin was −88.5%.
What is Butterfly Network's gross margin?
Butterfly Network's gross margin was 46.9% in fiscal 2025: for every $100 of revenue, Butterfly Network kept $47 after the direct cost of its products and services.
How much does Butterfly Network spend on research and development?
Butterfly Network spent $36.3 million on research and development in fiscal 2025, 37.1% of revenue.
How fast is Butterfly Network growing?
Revenue grew 16.1% a year on average over the last five fiscal years, from $46.3 million to $97.6 million.
What are Butterfly Network's earnings per share?
Butterfly Network earned $-0.16 per diluted share in fiscal 2025, compared with $-0.30 a year earlier.
When will Butterfly Network report its next earnings?
Butterfly Network is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Butterfly Network's fiscal year end?
Butterfly Network's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.