Butterfly Network Inc
NYSE:BFLY
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Butterfly Network Inc
NYSE:BFLY
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US |
Butterfly Network Inc
Butterfly Network, Inc. designs a medical imaging device that reduces the cost of real-time and three-dimensional imaging and treatment. The company is headquartered in Guilford, Connecticut and currently employs 463 full-time employees. The company went IPO on 2020-05-26. The firm is principally engaged in offering medical imaging system, Butterfly iQ. The Butterfly iQ is a handheld, single probe, whole-body ultrasound system, which uses semiconductor technology. Its products are powered by its Ultrasound-on-Chip technology, which is an ultrasound transducer that can perform whole-body imaging. Its ultrasound system is comprised of both hardware and software solutions designed to make ultrasound imaging accessible to all healthcare practitioners, including nurses, midwives and ultimately patients directly. Its Butterfly Blueprint provides a system-wide ultrasound platform with Compass software that integrates into a healthcare system’s clinical and administrative infrastructure to be able to arrange Butterfly iQ+. Its Butterfly iQ+ connects to a smartphone or tablet to perform ultrasound scans. The company also has an eCommerce Website through which it sells them.
Butterfly Network, Inc. designs a medical imaging device that reduces the cost of real-time and three-dimensional imaging and treatment. The company is headquartered in Guilford, Connecticut and currently employs 463 full-time employees. The company went IPO on 2020-05-26. The firm is principally engaged in offering medical imaging system, Butterfly iQ. The Butterfly iQ is a handheld, single probe, whole-body ultrasound system, which uses semiconductor technology. Its products are powered by its Ultrasound-on-Chip technology, which is an ultrasound transducer that can perform whole-body imaging. Its ultrasound system is comprised of both hardware and software solutions designed to make ultrasound imaging accessible to all healthcare practitioners, including nurses, midwives and ultimately patients directly. Its Butterfly Blueprint provides a system-wide ultrasound platform with Compass software that integrates into a healthcare system’s clinical and administrative infrastructure to be able to arrange Butterfly iQ+. Its Butterfly iQ+ connects to a smartphone or tablet to perform ultrasound scans. The company also has an eCommerce Website through which it sells them.
Record Revenue: Q4 revenue reached $31.5 million, up 41% year-over-year, exceeding guidance and marking the highest quarterly result in company history.
Positive Cash Flow: Butterfly achieved positive operating and free cash flow for the first time, aided by upfront payments from the Midjourney partnership.
Midjourney Partnership: The new $74 million deal with Midjourney drove significant Q4 revenue and validates Butterfly's transformation into a platform and embedded technology company.
Guidance Raised: Full year 2026 revenue is expected to grow to $117–121 million, representing 20–24% growth, with updated guidance reflecting Embedded/ Midjourney contributions.
Core POCUS Growth: The core point-of-care ultrasound (POCUS) business grew 15% year-over-year in Q4, with strong U.S. demand and medical school partnerships highlighted.
Margin Expansion: Gross margin increased to 67% from 61% in Q4 2024, supported by higher-margin embedded revenues.
Operational Efficiency: Adjusted EBITDA loss improved by 65% in Q4 and 32% for the full year, with 2025 marking the lowest annual cash use in company history.
Strategic Progress: Significant strides in home care, new chip and platform development, and expansion of Butterfly Embedded partnerships position the company for future growth.
