Butterfly Network, Inc. has recently released its 10-K report, revealing insightful details about the company's operations and financial performance. The company specializes in developing, manufacturing, and commercializing ultrasound imaging solutions, offering products such as the Butterfly iQ+ and iQ3 ultrasound devices, which can perform whole-body imaging on a single handheld probe integrated with the clinical workflow. Butterfly Network also provides cloud-based software solutions, educational tutorials, and formal education programs through its Butterfly Academy software and Butterfly Certified courses, as well as professional services for large-scale deployments. The company sells its products through a direct sales force, distributors, and e-commerce channels.
In the 10-K report, Butterfly Network's management discusses the financial condition and results of operations, highlighting key performance measures and providing a detailed breakdown of revenue, cost of revenue, research and development expenses, sales and marketing expenses, general and administrative expenses, and other operating expenses. The report also compares the company's financial performance for the years ended December 31, 2025, and 2024, offering insights into the changes in revenue, cost of revenue, research and development expenses, sales and marketing expenses, general and administrative expenses, and other operating expenses during this period.
For the year ended December 31, 2025, Butterfly Network reported a total revenue of $97,610,000, with product revenue accounting for 65.0% and software and other services revenue accounting for 35.0%. The company's cost of revenue amounted to $51,876,000, representing 53.1% of the total revenue. Additionally, Butterfly Network's research and development expenses totaled $36,262,000, while sales and marketing expenses amounted to $45,876,000, and general and administrative expenses totaled $39,235,000. The company also reported other operating expenses of $10,776,000.
The 10-K report further details the changes in revenue, cost of revenue, research and development expenses, sales and marketing expenses, general and administrative expenses, and other operating expenses compared to the previous year, providing a comprehensive analysis of Butterfly Network's financial performance.
The market has reacted to these announcements by moving the company's shares -8.57% to a price of $4.16. For more information, read the company's full 10-K submission here.
