Butterfly Network, Inc.

Butterfly Network, Inc. reported total revenue of $97.6 million for FY 2025, representing a 19.0% year-over-year increase from $82.1 million in FY 2024. The company generated a gross profit of $45.7 million (46.9% gross margin) but incurred significant operating expenses totaling $132.1 million, resulting in an operating loss of $86.4 million and a net loss of $77.1 million. Revenue growth was driven by a 17.1% increase in product revenue to $63.4 million and a 22.7% increase in software and other services revenue to $34.2 million. However, cost of product revenue increased 80.7% to $44.1 million due to a $17.4 million excess inventory charge. The company ended the year with $150.5 million in cash and cash equivalents after raising $81.0 million in a public offering in January 2025, providing liquidity for at least the next 12 months.

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