Is the business good?
How good a business is BFLY?
Butterfly Network, Inc. keeps −80% of every revenue dollar as operating profit, against 11% for the median Medical Devices name.
−80%
Operating margin · Medical Devices median 11% · 12 months to Q1 2026
- Share count, year on year
- +9.2%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 35%
R&D as % of revenue
- Gross margin
- 49%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −349% |
| FY2021 | −308% |
| FY2022 | −263% |
| FY2023 | −221% |
| FY2024 | −91% |
| FY2025 | −89% |
Details›
- Gross margin12 months to Q1 2026
- 49%
- Operating margin12 months to Q1 2026
- −80%
- Net margin12 months to Q1 2026
- −74%
- Free cash flow margin
- −18%
- R&D as % of revenue
- 35%
- Revenue, trailing twelve months
- $103M
- Free cash flow, trailing twelve months
- −$19M
- Net income, trailing twelve months
- −$76M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.