Butterfly Network, Inc. reported a total revenue of $97.6 million for the fiscal year ending December 31, 2025, marking a 19% increase from $82.1 million in 2024. The company incurred a net loss of $77.1 million, slightly higher than the $72.5 million loss reported in the previous year. The increase in revenue was primarily driven by a rise in product sales, particularly from the newly launched Butterfly iQ3 probe, which contributed to a 17.1% increase in product revenue. Additionally, software and services revenue grew by 22.7%, reflecting the company's strategic focus on expanding its software offerings and partnerships.

In terms of operational metrics, Butterfly fulfilled 1,792 more units in 2025 compared to the previous year, representing a 9.1% increase. The company also reported that approximately 35% of its total revenue came from software and services, up from 33.9% in 2024. This shift indicates a growing emphasis on software subscriptions and related services, which are expected to enhance profitability as the company continues to scale its operations.

Butterfly has made significant strides in expanding its market presence, with its products now sold in over 30 countries and utilized in more than 70 low-resource settings globally. The company has also engaged in strategic partnerships through its Butterfly Embedded™ program, which licenses its Ultrasound-on-Chip™ technology for co-development in non-competitive markets. As of January 31, 2026, Butterfly employed approximately 220 individuals, reflecting its commitment to building a robust workforce to support its growth initiatives.

The company anticipates continued losses as it invests in product development and market expansion. Butterfly's management has indicated that it will focus on enhancing its sales and marketing capabilities, particularly in the hospital segment, to drive further adoption of its ultrasound technology. The outlook remains cautiously optimistic, with expectations of increased revenue growth as the company leverages its innovative technology and expands its customer base in both domestic and international markets.

About Butterfly Network, Inc.

Butterfly Network, Inc. develops portable, semiconductor-based ultrasound devices and cloud-connected software that enable accessible, affordable medical imaging at the point of care. Its flagship products, including Butterfly iQ+ and iQ3, serve healthcare practitioners, hospitals, and veterinary markets worldwide. The company’s AI-powered, handheld ultrasound solutions integrate with clinical workflows, supporting diverse care settings from hospitals to remote and home environments, aiming to democratize ultrasound imaging through innovation and education.

This description was generated via AI from an annual report. Updated 8 months ago.

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