Form 8-K

8-K — Butterfly Network, Inc.

Accession: 0001804176-26-000025

Filed: 2026-07-30

Period: 2026-07-30

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-20260730.htm (Primary)

EX-99.1 (bfly-20260730xexx991.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: bfly-20260730.htm · Sequence: 1

bfly-20260730

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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): July 30, 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 July 30, 2026, Butterfly Network, Inc. (the “Company”) issued a press release announcing its results for the second quarter ended June 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 July 30, 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: July 30, 2026

EX-99.1

Filename: bfly-20260730xexx991.htm · Sequence: 2

Document

Exhibit 99.1

Butterfly Network Reports Second Quarter 2026 Financial Results

Delivered Record Revenue and Adjusted EBITDA Loss Above Guidance

•Raised full year Revenue and Improved Adjusted EBITDA Guidance

•Delivered quarterly Revenue of $32.6 million in Q2, representing 39% YoY growth

•Delivered 71% Gross Margin, up 770 bps

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 second quarter ended June 30, 2026, and provided a business update.

Joseph DeVivo, Butterfly's President, Chief Executive Officer and Chairman commented, "Butterfly delivered another outstanding quarter, exceeding the high end of our guidance while achieving record revenue, gross margin and adjusted EBITDA. Just as important, the world got to see what Ultrasound-on-Chip™ is capable of as two Embedded partners unveiled entirely new applications being built on our platform. It's an exciting milestone for Butterfly and a validation of the opportunity we've believed in for years."

DeVivo continued, "As those announcements captured global attention, they also highlighted something bigger: Butterfly has evolved into a multi-engine growth company. Our semiconductor platform is expanding into new markets through Butterfly Embedded; our POCUS business is building a larger enterprise opportunity through software, medical education and government; and Home & Community Care is transitioning from pilot to commercialization. Together, these growth engines reinforce one another and continue to expand our long-term opportunity."

Recent Operational and Strategic Highlights:

•Butterfly Embedded™: Added two new partners to the Embedded portfolio, totaling 11 partners, with Midjourney and Aleph Neuro unveiling the groundbreaking applications they’re building with Butterfly's Ultrasound-on-Chip™ platform.

•Compass AI™ and Enterprise Momentum: Signed six new enterprise software agreements and expanded the Compass AI software pipeline meaningfully year over year.

•FedRAMP Progress: Received provisional authorization to sell across the U.S. Department of Veterans Affairs and remains on track to achieve FedRAMP certification in the third quarter of 2026.

•Medical Education Expansion: Closed four additional medical education partners in the quarter, including entering a long-term strategic partnership with VCOM to support and gain insights following physicians from medical school to residency and clinical practice.

•Butterfly Garden™: Added a new partner focused on precision needle-guidance AI and expect three existing partner tools to become commercially available by year-end.

•Home & Community Care: Prepared for first commercial implementation in the second half of 2026, with revenue expected in the fourth quarter.

•International Expansion: Received regulatory authorization in Brazil, opening one of the world's largest and fastest-growing ultrasound markets.

Three Months Ended June 30, 2026 Financial Results

Revenue: Total revenue was $32.6 million, representing growth of 39% from $23.4 million in the second quarter of 2025. U.S. revenue was $27.6 million, up 57% from prior year, primarily driven by revenue from our Butterfly

Embedded™ partnerships, including our co-development partnership with Midjourney, as well as increased probe sales volume to our health system, medical school, and eCommerce customers. International revenue decreased 14% year-over-year to $5.0 million, largely resulting from decreased probe sales to our international distribution partners during the second quarter, although this decrease was partially offset by our recent commercial expansion into the Brazilian medical device market.

Gross margin: Gross profit was $23.3 million versus gross profit of $14.9 million in the prior year period. Gross margin increased to 71.4% compared to 63.7% in the prior year period. This increase 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 a reduction in software amortization costs for our historic software development investments.

Operating expenses: Operating expenses were $37.0 million, up 19% from $31.0 million in the prior year period. Total operating expenses excluding stock-based compensation and other expenses were $26.3 million, compared to $23.1 million in the second 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 $12.9 million, compared to $13.8 million in the prior year period.

Adjusted EBITDA: Adjusted EBITDA loss was $1.4 million, an improvement of 78% compared to $6.2 million in the prior year period.

EPS: EPS was $(0.05), compared to $(0.06) in the prior year period.

Adjusted EPS: Adjusted EPS was $(0.01), compared to $(0.03) in the prior year period.

Cash and cash equivalents: Cash and cash equivalents were $124.7 million as of June 30, 2026.

Guidance

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

•Revenue of $119 million to $123 million, or approximately 22% to 26% growth

•Adjusted EBITDA loss of $19 million to $23 million

Provided revenue guidance and adjusted EBITDA guidance for the 3rd Quarter of 2026:

•Revenue of $26 million to $30 million, or approximately 30% growth year-over-year at the midpoint

•Adjusted EBITDA loss of $6 million to $9 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 six months ended June 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 second quarter 2026 financial performance and operational progress is scheduled for 8:00 am ET on July 30, 2026. The conference call will be broadcast live in listen-only mode via a webcast on Butterfly’s Investor Relations website at Events & Presentations. Individuals interested in listening to the conference call on your telephone may do so by dialing approximately ten minutes prior to start time:

United States (Local): +1 646 844 6383

United States (Toll-Free): +1 833 470 1428

Global Dial-In Numbers: https://www.netroadshow.com/events/global-numbers?confId=48643

Access Code: 424023

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 August 6, 2026, by dialing:

United States (Local): +1 929 458 6194

United States (Toll-Free): +1 866 813 9403

Access Code: 941825

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 third 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; 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;. 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 June 30, Six months ended June 30,

2026 2025 2026 2025

Revenue:

Product $ 15,720 $ 16,621 $ 30,373 $ 30,785

Software and other services 16,892 6,762 28,769 13,823

Total revenue 32,612 23,383 59,142 44,608

Cost of revenue:

Product 7,370 6,670 13,725 12,494

Software and other services 1,954 1,822 3,843 3,842

Total cost of revenue 9,324 8,492 17,568 16,336

Gross profit 23,288 14,891 41,574 28,272

Operating expenses:

Research and development 10,542 8,315 20,080 18,239

Sales and marketing 11,467 11,559 22,884 23,179

General and administrative 11,355 9,130 22,173 18,729

Other 3,588 1,987 3,973 2,691

Total operating expenses 36,952 30,991 69,110 62,838

Loss from operations (13,664) (16,100) (27,536) (34,566)

Interest income 1,079 1,503 2,265 3,155

Interest expense (282) (368) (561) (715)

Change in fair value of warrant liabilities — 620 413 1,446

Other income (expense), net (43) 531 (168) 2,906

Loss before provision for income taxes (12,910) (13,814) (25,587) (27,774)

Provision for income taxes — 20 — 27

Net loss and comprehensive loss $ (12,910) $ (13,834) $ (25,587) $ (27,801)

Net loss per common share attributable to Class A and B common stockholders, basic and diluted $ (0.05) $ (0.06) $ (0.10) $ (0.12)

Weighted-average shares used to compute net loss per share attributable to Class A and B common stockholders, basic and diluted 262,100,993 248,393,811 259,324,052 241,695,884

BUTTERFLY NETWORK, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(Unaudited)

June 30,

2026 December 31,

2025

Assets

Current assets:

Cash and cash equivalents $ 124,659 $ 150,489

Accounts receivable, net of allowance for credit losses of $1,785 and $1,389 at June 30, 2026 and December 31, 2025, respectively 34,554 26,744

Inventories 58,559 61,389

Current portion of vendor advances 2,157 2,063

Prepaid expenses and other current assets 18,018 8,418

Total current assets 237,947 249,103

Property and equipment, net 15,850 16,587

Intangible assets, net 6,816 7,516

Non-current portion of vendor advances 4,868 5,008

Operating lease assets 11,805 12,652

Other non-current assets 5,709 5,667

Total assets $ 282,995 $ 296,533

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable $ 3,518 $ 5,442

Deferred revenue, current 15,472 26,909

Accrued purchase commitments, current 131 131

Warrant liabilities, current — 413

Accrued expenses and other current liabilities 39,482 32,222

Total current liabilities 58,603 65,117

Deferred revenue, non-current 10,185 9,391

Operating lease liabilities 16,293 17,721

Other non-current liabilities 8,514 8,325

Total liabilities 93,595 100,554

Commitments and contingencies

Stockholders’ equity:

Class A common stock $0.0001 par value; 600,000,000 shares authorized at June 30, 2026 and December 31, 2025; 237,995,479 and 227,318,426 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 24 23

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

Additional paid-in capital 1,094,154 1,075,147

Accumulated deficit (904,781) (879,194)

Total stockholders’ equity 189,400 195,979

Total liabilities and stockholders’ equity $ 282,995 $ 296,533

BUTTERFLY NETWORK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Six months ended June 30,

2026 2025

Cash flows from operating activities:

Net loss $ (25,587) $ (27,801)

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

Depreciation, amortization, and impairments 3,471 4,442

Non-cash interest expense 561 713

Write-down of inventories — 66

Stock-based compensation expense 12,580 12,148

Change in fair value of warrant liabilities (413) (1,446)

Other 834 172

Changes in operating assets and liabilities:

Accounts receivable (8,636) (3,909)

Inventories 2,830 1,816

Prepaid expenses and other assets (9,630) (874)

Vendor advances 46 1,244

Accounts payable (1,945) (927)

Deferred revenue (10,643) (581)

Change in operating lease assets and liabilities (455) (411)

Accrued expenses and other liabilities 6,824 (3,496)

Net cash used in operating activities (30,163) (18,844)

Cash flows from investing activities:

Purchases of property, equipment, and intangible assets, including capitalized software (1,924) (1,249)

Net cash used in investing activities

(1,924) (1,249)

Cash flows from financing activities:

Proceeds from exercise of stock options 5,031 274

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 6,257 79,454

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

(25,830) 59,361

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

Cash, cash equivalents, and restricted cash, end of period $ 128,674 $ 152,151

BUTTERFLY NETWORK, INC.

ADJUSTED GROSS PROFIT AND ADJUSTED GROSS MARGIN

(In thousands)

(Unaudited)

Three months ended June 30, Six months ended June 30,

2026 2025 2026 2025

Revenue $ 32,612 $ 23,383 $ 59,142 $ 44,608

Cost of revenue 9,324 8,492 17,568 16,336

Gross profit $ 23,288 $ 14,891 $ 41,574 $ 28,272

Gross margin 71.4 % 63.7 % 70.3 % 63.4 %

Add:

Write-downs and write-offs of inventories — 14 — 66

Adjusted gross profit $ 23,288 $ 14,905 $ 41,574 $ 28,338

Adjusted gross margin 71.4 % 63.7 % 70.3 % 63.5 %

Depreciation and amortization $ 679 $ 1,138 $ 1,469 $ 2,541

% of revenue 2.1 % 4.9 % 2.5 % 5.7 %

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 June 30, Six months ended June 30,

2026 2025 2026 2025

Net loss Net loss $ (12,910) $ (13,834) $ (25,587) $ (27,801)

Stock-based compensation Cost of revenue, R&D, S&M, and G&A 7,038 5,864 12,580 12,148

Write-downs and write-offs of inventories Cost of revenue — 14 — 66

Change in fair value of warrant liabilities Change in fair value of warrant liabilities — (620) (413) (1,446)

Other Other 3,588 1,987 3,973 2,691

Other expense (income), net Other income (expense), net 43 (531) 168 (2,906)

Adjusted net loss (2,241) (7,120) (9,279) (17,248)

Interest income Interest income (1,079) (1,503) (2,265) (3,155)

Interest expense Interest expense 282 368 561 715

Provision for income taxes Provision for income taxes — 20 — 27

Depreciation and amortization Cost of revenue, R&D, S&M, and G&A 1,660 2,082 3,471 4,442

Adjusted EBITDA $ (1,378) $ (6,153) $ (7,512) $ (15,219)

EPS Net loss per common share $ (0.05) $ (0.06) $ (0.10) $ (0.12)

Adjusted EPS $ (0.01) $ (0.03) $ (0.04) $ (0.07)

Weighted average shares used to compute EPS and adjusted EPS Weighted-average shares used to compute net loss per share 262,100,993 248,393,811 259,324,052 241,695,884

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- Definition

Code for the postal or zip code

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No definition available.

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- Definition

Name of the state or province.

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No definition available.

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- 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

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- 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

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- Definition

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

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No definition available.

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- Definition

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

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

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

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

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

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Local phone number for entity.

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No definition available.

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- 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

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- 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

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- Definition

Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Data Type:

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- 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

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- Definition

Trading symbol of an instrument as listed on an exchange.

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No definition available.

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- 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

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