BFLY

Butterfly Network, Inc.

Butterfly Network, Inc. is classed by the SEC under X-Ray Apparatus & Tubes & Related Irradiation Apparatus (industry code 3844), based in Burlington, MA. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $98 million and a loss of $77 million (its filed statements).

Product business X-Ray Apparatus & Tubes & Related Irradiation Apparatus Burlington, MA filings since 2020 8 of 9 filed, 1 estimated

Sector peers: GPROKEQUNNOXFOSL

3.9/10headline grade
vs its business-model standard

Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a product business: prior from its industry code (SEC 3844, X-Ray Apparatus & Tubes & Related Irradiation Apparatus); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.

The grade, in three tenses

Headline 3.9 out of ten, 8 of 9 metrics filed and 1 estimated: past 3.1 out of ten, present 3.2 out of ten, future 5.4 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

  • Surviving crises (past): 0.6 out of ten. 4 warning events since 2020; the latest 2026-01-14. 6th percentile among 24 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Track record (past): 5.6 out of ten. +23.4% a year over 7 filed years; profitable in 0 of 7. 56th percentile among 23 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Shareholder treatment (past): 1.9 out of ten. CrossAssetData estimate 1.9/10, confidence 35 of 100 (one part). 19th percentile among 24 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
  • Financial health (present): 3.1 out of ten. ROE -39%: lost 39¢ per shareholder dollar. Leverage 34%: owes 34¢ per asset dollar. 31st percentile among 24 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Industry position (present): 3.3 out of ten. bottom 33% of 23 in its family; net margin -79%. 33rd percentile among 23 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Leadership (present): 3.5 out of ten. bottom 35% of 18 in its family for leadership; chief executive since 2023. 35th percentile among 18 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
  • Room to expand (future): 6.4 out of ten. top 36% of 23 in its family for room to expand. 64th percentile among 23 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Growth drivers (future): 2.5 out of ten. bottom 25% of 23 in its family for growth drivers. 25th percentile among 23 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Expectations vs reality (future): 7.8 out of ten. top 22% of 22 in its family for expectations against reality. 78th percentile among 22 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 10-K filed 2026-02-27 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-07-30 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-07-30 (on EDGAR). Newest filing: Form 4, 2026-10-08. Filings on record since 2020. Read from EDGAR 2026-10-12.

Where the revenue comes from

Product and service lines in fiscal 2025: Product 65%, Software and Other Services 35%. By geography: United States 79%, International 21%. As tagged in its annual report (Form 10-K, filed 2026-02-27).

Who runs it

Devivo, Joseph (President & CEO); Doherty, John N. (EVP, CFO); Cashman, Steve (Chief Business Officer); Ku, Victor (Chief Technology Officer); Carlson, Megan (CAO and SVP, Finance); Caezza, Nicholas (Deputy General Counsel); Phanstiel, S. Louise (director); Robbins, Larry (director); Rothberg, Jonathan M (director); Edelman, Elazer R (director); and 3 more. 13 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-10-08.

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