Butterfly Network, Inc. has recently released its 10-Q report, detailing its financial performance and operations for the period. The company, headquartered in Burlington, Massachusetts, develops, manufactures, and commercializes ultrasound imaging solutions, including the Butterfly iQ+ and iQ3 ultrasound devices, Butterfly iQ+ Bladder, and Butterfly iQ+ Vet, as well as cloud-based software solutions and professional services. Butterfly Network sells its products through a direct sales force, distributors, and e-commerce channels.
In the 10-Q report, Butterfly Network's key performance measures for the three months ended September 30, 2025, show an increase in units fulfilled by 4.7% compared to the same period in 2024, driven by higher probe sales volume in the US sales channels. The software and other services mix decreased by 1.9 percentage points to 32.3% for the same period, primarily due to increases in product revenue and total revenue shifting the mix more towards hardware.
The report also provides a breakdown of the company's financial data, highlighting the revenue, cost of revenue, operating expenses, and results of operations for the three months ended September 30, 2025, and 2024. The revenue for the period increased by 4.5% compared to the same period in 2024, with product revenue increasing by 7.5% and software and other services revenue remaining relatively flat. The cost of revenue increased by 203.1%, primarily due to a non-recurring charge for excess and obsolete inventory. Operating expenses, including research and development, sales and marketing, general and administrative, and other expenses, also saw fluctuations compared to the same period in 2024.
Following these announcements, the company's shares moved -5.12%, and are now trading at a price of $2.04. For the full picture, make sure to review Butterfly Network's 10-Q report.
