Butterfly Network, Inc. Reports First Quarter 2026 Financial Results

Butterfly Network, Inc. announced its financial results for the first quarter ended March 31, 2026. The company reported total revenue of $26.5 million, a 25% year-over-year increase, with U.S. revenue up 25% and international revenue up 23%. Gross margin improved to 68.9% from 63.0% in the prior year period, primarily due to higher-margin Butterfly Embedded licensing revenue and reduced software amortization costs. Operating expenses increased slightly to $32.2 million. The net loss for the quarter was $12.7 million, an improvement from $14.0 million in the prior year. Adjusted EBITDA loss decreased to $6.1 million from $9.1 million year-over-year. The company reaffirmed its full-year 2026 revenue guidance of $117 million to $121 million and adjusted EBITDA loss guidance of $21 million to $25 million. For the second quarter of 2026, revenue is projected to be between $27 million and $31 million, with an adjusted EBITDA loss of $6 million to $8 million.