Butterfly Network, Inc. Class A (BFLY)

Several events have influenced Butterfly Network's stock price over the past six months. The Q2 2025 earnings report showed record revenue and gross margins, along with reduced cash usage. The Q3 2025 earnings report presented mixed results, with revenue exceeding expectations but EPS falling short. Butterfly Network launched Compass AI to improve point-of-care ultrasound program management. Insider Dr. Jonathan Rothberg sold shares of common stock. The company projected revenue growth for Q4 2025 and anticipated 2026 as a meaningful inflection year.

Demand for Butterfly Network's products and services can experience seasonality, with the company noting that the third quarter of 2025 was a seasonally softer quarter for revenue.

Butterfly Network, Inc. is a digital health company that develops, manufactures, and commercializes ultrasound imaging solutions using its Ultrasound-on-Chip technology. Its products include the Butterfly iQ+ and iQ3 ultrasound devices, which are handheld, single-probe systems for whole-body imaging. The company also offers software subscriptions and educational programs like Butterfly Academy, ScanLab, and Compass AI to enhance clinical workflows and streamline ultrasound program management. The Beam Steering API is planned for release in 2026 to extend 3D imaging capabilities.

Butterfly Network has a significant international presence, commercializing its ultrasound imaging solutions in the United States and globally. Its devices are commercially available to trained healthcare practitioners in various regions, including parts of Africa, Asia, Australia, Europe, the Middle East, North America, and South America. The company also maintains over 30 global health partnerships, utilizing its Butterfly iQ+ in more than 45 low-resource settings worldwide.

Butterfly Network has received recognition for its innovation and impact in healthcare technology. The Butterfly iQ3 device won "Best Medical Technology" at the 2024 Prix Galien USA Awards. Butterfly Network was included in TIME's World's Top HealthTech Companies 2025. Fierce Life Sciences and Fierce Healthcare named Butterfly as one of 2024's Fierce 50 honorees. The company was a Dual Category Award Winner for Innovation and Business Expansion in the Medical Device Network Excellence Awards 2025. Butterfly Network achieved ISO 27001 certification.

Butterfly Network, Inc. has a diverse ownership structure. Approximately 36.94% of the company's stock is owned by institutional investors such as BlackRock, Inc. and Vanguard Group Inc. Insiders own approximately 30.77% of the company's stock, with founder Jonathan Rothberg being the largest shareholder. Public companies and individual investors collectively own about 32.29% of the stock.