The strong revenue growth and cash flow inflection suggest Butterfly's strategic pivot to semiconductor-based imaging and partnerships is gaining traction. Traders should monitor execution on 2026 guidance and further Embedded revenue contributions.
Price Chart
Executive Summary
Butterfly Network reported record Q4 2025 revenue of $31.5 million, up 41% year-over-year, driven by a $6.8 million contribution from its Midjourney partnership and strong U.S. probe sales. The company achieved its first quarter of positive operating cash flow and guided to $117–121 million in 2026 revenue, reflecting continued momentum in its semiconductor-based imaging strategy.
Key Financial Metrics
Key Facts
- Q4 2025 revenue was $31.5 million, up 41% YoY
- Midjourney partnership contributed $6.8 million in Q4 revenue
- Generated positive net cash flow of $6.3 million in Q4
- 2026 revenue guidance of $117–121 million (20–24% growth)
- Adjusted EBITDA loss narrowed to $(3.2) million from $(9.1) million YoY
Financial Impact
Revenue growth of 41% YoY with $6.8 million from new Butterfly Embedded licensing, and 2026 guidance implies continued strong growth
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| U.S. | $26.8M | +55.0% |
| International | $4.7M | -6.0% |
Risk Factors
- Net loss remains significant at $15.3 million in Q4
- International revenue declined 6% YoY
- Guidance includes an adjusted EBITDA loss of $21–25 million in 2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001804176-26-000007 |
| Document: bfly-20260226.htm | 0001804176-26-000007 |
| Document: 0001804176-26-000007-index-headers.html | 0001804176-26-000007 |
| Document: 0001804176-26-000007-index.html | 0001804176-26-000007 |
| Document: 0001804176-26-000007.txt | 0001804176-26-000007 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 3 | $7.25 $7.47 | ▲ +3.03% | ▲ +2.61% | $7.38 (+1.79%) |
Oct 6, 2026 21d ago | 144 | $8.70 $8.27 | ▼ −4.94% | ▼ −4.70% | $7.38 (−15.17%) |
Oct 5, 2026 22d ago | 8-K | $9.38 $8.70 | ▼ −7.25% | ▼ −7.80% | $7.38 (−21.32%) |
Sep 23, 2026 4w ago | 144 | $9.41 $9.39 | ▼ −0.21% | ▼ −0.76% | $7.38 (−21.57%) |
Sep 22, 2026 5w ago | 144 | $9.20 $9.41 | ▲ +2.28% | ▲ +2.36% | $7.38 (−19.78%) |
Sep 9, 2026 6w ago | Insider Cluster | $7.12 $7.33 | ▲ +2.95% | ▲ +2.10% | $7.38 (+3.65%) |
Aug 17, 2026 10w ago | Insider Cluster | $9.00 $9.17 | ▼ −1.89% | ▼ −1.68% | $7.38 (+18.00%) |
Aug 17, 2026 10w ago | Insider Cluster | $9.00 $9.17 | ▼ −1.89% | ▼ −1.68% | $7.38 (+18.00%) |
Aug 15, 2026 10w ago | Institutional Cluster | $9.02 $9.00 | ▼ −0.22% | ▲ +0.45% | $7.38 (−18.18%) |
Aug 12, 2026 10w ago | Insider Cluster | $8.86 $8.84 | ▼ −0.23% | ▼ −0.03% | $7.38 (−16.70%) |
US Market Status
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