Form 8-K

8-K — Butterfly Network, Inc.

Accession: 0001804176-26-000038

Filed: 2026-10-29

Period: 2026-10-29

CIK: 0001804176

SIC: 3844 (X-RAY APPARATUS & TUBES & RELATED IRRADIATION APPARATUS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — bfly-20261029.htm (Primary)

EX-99.1 (bfly-20261029xexx991.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: bfly-20261029.htm · Sequence: 1

bfly-20261029

0001804176False00018041762026-10-292026-10-290001804176us-gaap:CommonStockMember2026-10-292026-10-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 29, 2026

Butterfly Network, Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-39292 84-4618156

(State or other jurisdiction of

incorporation) (Commission File Number) (IRS Employer

Identification No.)

1600 District Avenue

Burlington, MA

01803

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (781) 557-4800

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Class A common stock, par value $0.0001 per share BFLY The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On October 29, 2026, Butterfly Network, Inc. (the “Company”) issued a press release announcing its results for the third quarter ended September 30, 2026 and providing a business update. A copy of the press release is furnished as Exhibit 99.1 hereto.

The information in this Item 2.02 (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No. Description

99.1

Press Release dated October 29, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BUTTERFLY NETWORK, INC.

By: /s/ John Doherty

Name: John Doherty

Title: Executive Vice President, Chief Financial Officer

Date: October 29, 2026

EX-99.1

Filename: bfly-20261029xexx991.htm · Sequence: 2

Document

Exhibit 99.1

Butterfly Network Reports Third Quarter 2026 Financial Results

Beats High End of Quarterly Revenue and Adjusted EBITDA Guidance

•Delivered quarterly Revenue of $32.6 million, driven in part by Embedded revenue

•Recorded highest gross margin in Company history at 73%

•Management increases Full Year Revenue and Adjusted EBITDA Guidance

BURLINGTON, Mass. & NEW YORK--(BUSINESS WIRE) -- Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly” or the “Company”), a pioneer and leader in semiconductor-based ultrasound devices, programmable cloud software and AI, today announced financial results for the third quarter ended September 30, 2026, and provided a business update.

Joseph DeVivo, Butterfly’s President, Chief Executive Officer and Chairman commented, “Our third quarter results came in ahead of guidance on both revenue and adjusted EBITDA, and we posted the highest gross margin in Butterfly’s history. We saw strength across our business. The enterprise pipeline is turning into signed deals, and achieving FedRAMP authorization puts larger federal opportunities on the table. Home & Community Care has also moved from building the program to executing it, with first revenue expected this November.”

DeVivo continued, “What excites me most is that our progress is compounding as we laid out. Our Ultrasound-on-Chip™ platform is taking Butterfly into entirely new categories, from brain-computer interfaces to physical AI. The first Embedded partner product is now on the market, and we have next-generation technology in motion. Every step forward expands the markets we can serve, and more than a decade of investment in this semiconductor platform is beginning to deliver on the vast potential we have expected.”

Recent Operational and Strategic Highlights:

•Butterfly Embedded™: Added three BCI partners, including the announcements of Merge Labs and Bridge Neurotech in the third quarter, while Mendaera became the first partner to launch a commercial product built on Butterfly technology on October 1, 2026.

•Compass AI™ and Enterprise Momentum: Closed five 7-figure and ten 6-figure TCV enterprise deals in the quarter.

•FedRAMP: Officially achieved FedRAMP authorization as expected, supporting federal and VA pipeline opportunities.

•Medical Education: Announced the Lighthouse program with VCOM, a multi-year partnership to equip every VCOM student with a Butterfly device and generate insights on POCUS use from medical school into residency.

•Butterfly Garden™: Signed five new partners, and DeepEcho became the first international and first maternal health partner application to go live on October 23, 2026.

•Home & Community Care: Entered the implementation phase to launch the first state, with scanning set to begin in November and initial revenue expected in the fourth quarter.

•International Expansion: Built momentum in Brazil, and added a new distribution partner in Taiwan.

•Innovation Roadmap: Advanced development of the Apollo chip on schedule; prepared a limited release of wearable research devices for Embedded partners; and continue preparations to launch a next-generation product powered by the P5.1 chip in early 2027.

Three Months Ended September 30, 2026 Financial Results

Revenue: Total revenue was $32.6 million, representing growth of 52% from $21.5 million in the third quarter of 2025. U.S. revenue was $27.5 million, up 71% from prior year, primarily driven by revenue from our various Butterfly Embedded™ partnerships, including our co-development partnership with Midjourney, as well as increased probe sales volume to our health system, distributor, and eCommerce customers. International revenue decreased 5% year-over-year to $5.1 million, largely resulting from decreased probe sales to our global health partners.

Gross margin: Gross profit was $23.8 million versus a gross loss of $3.8 million in the prior year period, and adjusted gross profit was $23.8 million versus $13.7 million in the prior year period. Total gross margin, on a GAAP basis, was 73.0% compared to (17.5)% in the prior year period, and adjusted gross margin increased to 73.0% from 63.9% in the prior year period. The $27.6 million increase in GAAP gross margin is due in part to the $17.4 million write-down of excess and obsolete inventory that was recognized during the prior year period, which is excluded from adjusted gross profit and adjusted gross margin. The remainder of the increase in GAAP gross margin, as well as the $10.1 million increase in adjusted gross margin, was primarily due to the relatively higher margin return on our Butterfly Embedded™ licensing revenue, as compared to our core business offerings, as well as our increased probe sales volume in the current year.

Operating expenses: Operating expenses were $37.4 million, up 19% from $31.4 million in the prior year period. Total operating expenses excluding stock-based compensation and other expenses were $26.6 million, compared to $23.7 million in the third quarter of 2025, largely reflecting increased headcount in the current year from investments we've made in our internal capabilities throughout the past 12 months to support revenue growth as well as our product and software development projects.

Net loss: Net loss was $12.8 million, compared to $34.0 million in the prior year period.

Adjusted EBITDA: Adjusted EBITDA loss was $1.2 million, an improvement of 85% compared to $8.1 million in the prior year period.

EPS: EPS was $(0.05), compared to $(0.13) in the prior year period.

Adjusted EPS: Adjusted EPS was $(0.01), compared to $(0.04) in the prior year period.

Cash and cash equivalents: Cash and cash equivalents were $122.3 million as of September 30, 2026.

Guidance

Raised revenue guidance and adjusted EBITDA guidance for the Fiscal Year 2026:

•Revenue of $123 million to $126 million, or approximately 26% to 29% growth

•Adjusted EBITDA loss of $12 million to $15 million

Provided revenue guidance and adjusted EBITDA guidance for the 4th Quarter of 2026:

•Revenue of $31 million to $34 million, or approximately 3% growth year-over-year at the midpoint

•Adjusted EBITDA loss of $3 million to $6 million

Reconciliation of GAAP to Adjusted

Reconciliations of gross profit and gross margin to adjusted gross profit and adjusted gross margin and of net loss and EPS to adjusted net loss, adjusted EBITDA, and adjusted EPS for the three and nine months ended September 30, 2026, and 2025 are provided in the financial schedules that are part of this press release. An explanation of these non-GAAP financial measures is also included below under the heading “Non-GAAP Financial Measures.”

Conference Call

A conference call and webcast to discuss third quarter 2026 financial performance and operational progress is scheduled for 8:00 am ET on October 29, 2026. The conference call will be broadcast live in listen-only mode via a webcast on Butterfly’s Investor Relations website at ir.butterflynetwork.com/events-and-presentations. Individuals interested in listening to the conference call on your telephone may do so by dialing approximately ten minutes prior to start time:

US Toll Free: +1 833-461-5787

US East Local: +1 585-542-9983

US West Local: +1 626-884-3620

CA Local: +1 365-657-4084

UK Local: +44 117 389 0104

UK Toll Free: +44 808 196 8935

All dial-in numbers: https://help.events.q4inc.com/eahc/international-dial-in-numbers

Meeting ID: 731 501 731

After the live webcast, the call will be archived on Butterfly’s Investor Relations events page. In addition, a telephone replay of the call will be available until November 5, 2026, by dialing:

Toll Free: +1 833-309-1852

Meeting ID: 731 501 731

About Butterfly Network

Butterfly Network, Inc. (NYSE: BFLY) is driving a digital revolution in ultrasound imaging and sensing with its proprietary Ultrasound-on-Chip™ semiconductor technology and software solutions. Butterfly first proved its technology in the point-of-care ultrasound market – commercializing the world's first single-probe, whole-body portable ultrasound device, which is now on its best-selling, third-generation: Butterfly iQ3™. The Company combines its advanced hardware with cloud software and AI, an enterprise workflow solution (Compass AI™) and other offerings to drive adoption of affordable, accessible ultrasound. Butterfly also enables third-party development of imaging AI apps through Butterfly Garden™, its software development kit and AI marketplace.

In addition to its medical imaging products, Butterfly Embedded™ is the Company's Ultrasound-on-Chip™ licensing and co-development business designed to enable a new wave of ultrasound-enabled technologies across non-competitive healthcare markets and beyond. Through Butterfly Embedded™, partners can build and scale novel ultrasound applications powered by Butterfly's proprietary semiconductor chip and software platform.

Butterfly's innovations have been recognized by Prix Galien USA, Fierce 50, TIME's Best Inventions and Fast Company's World Changing Ideas, among other achievements. To learn more, visit: www.butterflynetwork.com

Non-GAAP Financial Measures

In addition to providing financial measures based on generally accepted accounting principles in the United States of America (“GAAP”), we provide additional financial measures that are not prepared in accordance with GAAP (“non-GAAP”). The non-GAAP financial measures included in this press release are adjusted gross profit, adjusted gross margin, adjusted net loss, adjusted EBITDA, and adjusted EPS. We present non-GAAP financial measures in order to assist readers of our financial statements in understanding the core operating results that our management uses to evaluate the business and for financial planning purposes. Our non-GAAP financial measures provide an additional tool for investors to use in comparing our financial performance over multiple periods.

The non-GAAP financial measures included in this press release are key performance measures that our management uses to assess our operating performance. These non-GAAP measures facilitate internal comparisons of our operating performance on a more consistent basis. We use these performance measures for business planning purposes and forecasting. We believe that these non-GAAP measures enhance an

investor’s understanding of our financial performance as they are useful in assessing our operating performance from period-to-period by excluding certain items that we believe are not representative of our core business.

The non-GAAP financial measures included in this press release may not be comparable to similarly titled measures of other companies because they may not calculate these measures in the same manner. These non-GAAP financial measures are not prepared in accordance with GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. When evaluating the Company’s performance, you should consider adjusted gross profit, adjusted gross margin, adjusted net loss, adjusted EBITDA, and adjusted EPS alongside other financial performance measures prepared in accordance with GAAP, including gross profit, gross margin, net loss, and EPS.

The non-GAAP financial measures do not replace the presentation of our GAAP financial results and should only be used as a supplement to, not as a substitute for, our financial results presented in accordance with GAAP. In this press release, we have provided reconciliations of gross profit and gross margin to adjusted gross profit and adjusted gross margin and of net loss and EPS to adjusted net loss, adjusted EBITDA, and adjusted EPS, the most directly comparable GAAP financial measures. Reconciliations of our non-GAAP financial measures to corresponding GAAP measures are not available on a forward-looking basis because we are unable to predict with reasonable certainty the non-cash component of employee compensation expense, changes in our working capital needs, variances in our supply chain, the impact of earnings or charges resulting from matters we consider not to be reflective, on a recurring basis, of our ongoing operations, and other such items without unreasonable effort. These items are uncertain, depend on various factors, and could be material to our results computed in accordance with GAAP. Management strongly encourages investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Our actual results may differ from our expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, our expectations with respect to financial results and guidance, including revenue and adjusted EBITDA expectations for the fourth quarter and full year 2026, revenue growth, future performance of our ultrasound business and Embedded opportunities (inclusive of co-development, revenue share/commercialization revenue, chip purchases, and/or chip licensing opportunities through the Embedded program); the timing, scope, and revenue potential of our Butterfly Home and Community Care business, including expectations regarding the commercial launch of our first state program and the timing of initial revenue; expectations regarding the achievement of FedRAMP certification and the expansion of sales to government agencies, including the U.S. Department of Veterans Affairs; the expansion of our Compass AI enterprise software pipeline and related revenue opportunities; expectations regarding international market expansion, including opportunities in Brazil and Taiwan; development and commercialization of products and services, and the size and potential growth of current or future markets for our products and services, including the launches of our next-generation probe, P5 chip, Apollo chip, and fourth-generation technology; the potential for our semiconductor platform to enable new markets through Butterfly Embedded partnerships; expectations regarding the growth of our medical education partnerships and their impact on long-term adoption; and the growth of our Butterfly Garden™ partner ecosystem and AI marketplace. Forward-looking statements are based on our current beliefs and assumptions and on information currently available to us. These forward-looking statements involve significant known and unknown risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside our control and are difficult to predict. Factors that may cause such differences include, but are not limited to: our ability to grow and manage growth effectively; the success, cost, and timing of our product and service development activities; the potential attributes and benefits of our products and services; the degree to which our products and services are accepted by healthcare practitioners and patients for their approved uses; our ability to obtain and maintain regulatory approval for our products, as applicable, and any related restrictions and limitations on the use of any authorized product; our ability to identify, in-license, or acquire additional technology; our ability to maintain our

existing license, manufacturing, supply, and distribution agreements; the success, cost, and timing of our efforts to out-license our intellectual property to third parties; our ability to compete with other companies currently marketing or engaged in the development of ultrasound imaging devices, many of which have greater financial and marketing resources than us; changes in applicable laws or regulations; the impact of global macroeconomic conditions, including tariffs, geopolitical conflicts, and AI-driven supply chain shortages on our business and operations; the size and growth potential of the markets for our products and services, and our ability to serve those markets, either alone or in partnership with others; the pricing of our products and services, and reimbursement for medical procedures conducted using our products and services; our estimates regarding expenses, revenue, capital requirements, and needs for additional financing; our financial performance; our ability to attract and retain customers; our ability to manage our growth effectively; our ability to protect or enforce our intellectual property rights; and other risks and uncertainties indicated from time to time in our most recent Annual Report on Form 10-K or in subsequent filings that we make with the Securities and Exchange Commission. We caution that the foregoing list of factors is not exclusive. We caution you not to place undue reliance upon any forward-looking statements, which speak only as of the date of this press release. We do not undertake or accept any obligation or undertake to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions, or circumstances on which any such statement is based.

Contacts:

Investors

John Doherty

Chief Financial Officer, Butterfly

investors@butterflynetwork.com

Media

Liz Snyder

Director, PR & Communications, Butterfly

media@butterflynetinc.com

BUTTERFLY NETWORK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share amounts)

(Unaudited)

Three months ended September 30, Nine months ended September 30,

2026 2025 2026 2025

Revenue:

Product $ 15,627 $ 14,556 $ 46,001 $ 45,341

Software and other services 16,971 6,933 45,740 20,755

Total revenue 32,598 21,489 91,741 66,096

Cost of revenue:

Product 6,834 23,552 20,558 36,047

Software and other services 1,962 1,694 5,805 5,536

Total cost of revenue 8,796 25,246 26,363 41,583

Gross profit (loss) 23,802 (3,757) 65,378 24,513

Operating expenses:

Research and development 10,171 8,703 30,251 26,942

Sales and marketing 11,604 10,626 34,488 33,805

General and administrative 11,561 9,289 33,734 28,018

Other 4,045 2,759 8,018 5,451

Total operating expenses 37,381 31,377 106,491 94,216

Loss from operations (13,579) (35,134) (41,113) (69,703)

Interest income 1,069 1,443 3,334 4,598

Interest expense (284) (385) (845) (1,100)

Change in fair value of warrant liabilities — 207 413 1,652

Other income (expense), net (13) (86) (183) 2,824

Loss before provision for income taxes (12,807) (33,955) (38,394) (61,729)

Provision for income taxes — 16 — 43

Net loss and comprehensive loss $ (12,807) $ (33,971) $ (38,394) $ (61,772)

Net loss per common share attributable to Class A and B common stockholders, basic and diluted $ (0.05) $ (0.13) $ (0.15) $ (0.25)

Weighted-average shares used to compute net loss per share attributable to Class A and B common stockholders, basic and diluted 266,497,535 252,087,541 261,741,489 245,197,834

BUTTERFLY NETWORK, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(Unaudited)

September 30,

2026 December 31,

2025

Assets

Current assets:

Cash and cash equivalents $ 122,301 $ 150,489

Accounts receivable, net of allowance for credit losses of $2,015 and $1,389 at September 30, 2026 and December 31, 2025, respectively 37,378 26,744

Inventories 59,584 61,389

Current portion of vendor advances 2,922 2,063

Prepaid expenses and other current assets 21,484 8,418

Total current assets 243,669 249,103

Property and equipment, net 15,851 16,587

Intangible assets, net 6,466 7,516

Non-current portion of vendor advances 4,798 5,008

Operating lease assets 11,366 12,652

Other non-current assets 5,825 5,667

Total assets $ 287,975 $ 296,533

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable $ 5,657 $ 5,442

Deferred revenue, current 15,926 26,909

Accrued purchase commitments, current — 131

Warrant liabilities, current — 413

Accrued expenses and other current liabilities 46,404 32,222

Total current liabilities 67,987 65,117

Deferred revenue, non-current 11,133 9,391

Operating lease liabilities 15,546 17,721

Other non-current liabilities 8,864 8,325

Total liabilities 103,530 100,554

Commitments and contingencies

Stockholders’ equity:

Class A common stock $0.0001 par value; 600,000,000 shares authorized at September 30, 2026 and December 31, 2025; 245,905,451 and 227,318,426 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 25 23

Class B common stock $0.0001 par value; 27,000,000 shares authorized at September 30, 2026 and December 31, 2025; 21,426,937 and 26,426,937 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 2 3

Additional paid-in capital 1,102,006 1,075,147

Accumulated deficit (917,588) (879,194)

Total stockholders’ equity 184,445 195,979

Total liabilities and stockholders’ equity $ 287,975 $ 296,533

BUTTERFLY NETWORK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Nine months ended September 30,

2026 2025

Cash flows from operating activities:

Net loss $ (38,394) $ (61,772)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation, amortization, and impairments 5,086 6,327

Non-cash interest expense 844 1,099

Write-down of inventories — 7,931

Write-down of vendor advances — 9,621

Stock-based compensation expense 19,312 17,074

Change in fair value of warrant liabilities (413) (1,652)

Other 1,375 346

Changes in operating assets and liabilities:

Accounts receivable (11,999) (3,972)

Inventories 1,805 626

Prepaid expenses and other assets (13,209) (1,114)

Vendor advances (649) 3,208

Accounts payable 154 (943)

Deferred revenue (9,241) 832

Accrued purchase commitments (131) —

Change in operating lease assets and liabilities (698) (633)

Accrued expenses and other liabilities 13,729 1,291

Net cash used in operating activities (32,429) (21,731)

Cash flows from investing activities:

Purchases of property, equipment, and intangible assets, including capitalized software (3,069) (2,265)

Net cash used in investing activities

(3,069) (2,265)

Cash flows from financing activities:

Proceeds from exercise of stock options 6,084 274

Proceeds from employee stock purchase plan 1,233 949

Net proceeds from share offering

— 81,006

Payments to tax authorities for restricted stock units withheld

(7) (2,775)

Net cash provided by financing activities 7,310 79,454

Net increase (decrease) in cash, cash equivalents, and restricted cash

(28,188) 55,458

Cash, cash equivalents, and restricted cash, beginning of period 154,504 92,790

Cash, cash equivalents, and restricted cash, end of period $ 126,316 $ 148,248

BUTTERFLY NETWORK, INC.

ADJUSTED GROSS PROFIT AND ADJUSTED GROSS MARGIN

(In thousands)

(Unaudited)

Three months ended September 30, Nine months ended September 30,

2026 2025 2026 2025

Revenue $ 32,598 $ 21,489 $ 91,741 $ 66,096

Cost of revenue 8,796 25,246 26,363 41,583

Gross profit (loss) $ 23,802 $ (3,757) $ 65,378 $ 24,513

Gross margin 73.0 % (17.5 %) 71.3 % 37.1 %

Add:

Write-downs and write-offs of inventories and vendor advances — 17,486 — 17,552

Adjusted gross profit $ 23,802 $ 13,729 $ 65,378 $ 42,065

Adjusted gross margin 73.0 % 63.9 % 71.3 % 63.6 %

Depreciation and amortization $ 649 $ 864 $ 2,118 $ 3,405

% of revenue 2.0 % 4.0 % 2.3 % 5.2 %

BUTTERFLY NETWORK, INC.

ADJUSTED EBITDA AND ADJUSTED EPS

(In thousands, except share and per share amounts)

(Unaudited)

Included on the condensed consolidated statements of operations and comprehensive loss as: Three months ended September 30, Nine months ended September 30,

2026 2025 2026 2025

Net loss Net loss $ (12,807) $ (33,971) $ (38,394) $ (61,772)

Stock-based compensation Cost of revenue, R&D, S&M, and G&A 6,732 4,925 19,312 17,074

Write-downs and write-offs of inventories and vendor advances Cost of revenue — 17,486 — 17,552

Change in fair value of warrant liabilities Change in fair value of warrant liabilities — (207) (413) (1,652)

Other Other 4,045 2,759 8,018 5,451

Other expense (income), net Other income (expense), net 13 86 183 (2,824)

Adjusted net loss (2,017) (8,922) (11,294) (26,171)

Interest income Interest income (1,069) (1,443) (3,334) (4,598)

Interest expense Interest expense 284 385 845 1,100

Provision for income taxes Provision for income taxes — 16 — 43

Depreciation and amortization Cost of revenue, R&D, S&M, and G&A 1,615 1,885 5,086 6,327

Adjusted EBITDA $ (1,187) $ (8,079) $ (8,697) $ (23,299)

EPS Net loss per common share $ (0.05) $ (0.13) $ (0.15) $ (0.25)

Adjusted EPS $ (0.01) $ (0.04) $ (0.04) $ (0.11)

Weighted average shares used to compute EPS and adjusted EPS Weighted-average shares used to compute net loss per share 266,497,535 252,087,541 261,741,489 245,197,834

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 8

v3.26.3

Cover

Oct. 29, 2026

Document Information [Line Items]

Document Type

8-K

Document Period End Date

Oct. 29, 2026

Entity Registrant Name

Butterfly Network, Inc.

Entity Incorporation, State or Country Code

Entity File Number

001-39292

Entity Tax Identification Number

84-4618156

Entity Address, Address Line One

1600 District Avenue

Entity Address, City or Town

Burlington

Entity Address, State or Province

Entity Address, Postal Zip Code

01803

City Area Code

781

Local Phone Number

557-4800

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Entity Central Index Key

0001804176

Amendment Flag

false

Common stock

Document Information [Line Items]

Title of 12(b) Security

Class A common stock, par value $0.0001 per share

Trading Symbol

BFLY

Security Exchange Name

NYSE

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:

dei_DocumentInformationLineItems

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Details

Name:

us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type: