Filing Flows › Butterfly Network (BFLY) › Q1 2025
Butterfly Network (BFLY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 2, 2025
Butterfly Network (BFLY) reported revenue of $21.2M for the first quarter 2025 (Q1 2025), +20% from a year earlier and -5% from the quarter before. Operating margin was -87.0%, net loss $14.0M (65.8% of revenue).
Butterfly Network, Q1 2025: revenue $21.2M (+20% year over year), operating margin -87.0%, net loss $14.0M, operating cash flow −$11.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.2M | -5% | +20% |
| Operating profit | −$18.5M | — | — |
| Net earnings | −$14.0M | — | — |
| Operating cash flow | −$11.7M | — | — |
What changed
Revenue was $21.2M in Q1 2025, up 20% year over year and down 5% from the previous quarter. Hardware was the largest line at 67% of revenue. Hardware added $2.9M year over year (up 25%), 80% of the total change.
Gross margin was 63.0%, up 4.8 points from a year earlier. Operating costs exceeded revenue by $18.5M, an operating margin of -87.0%. Operating expenses fell 3% while revenue rose 20%. The fastest-growing cost line was Sales & marketing (+12%). The quarter ended with a net loss of $14.0M, narrower than the previous quarter's $18.1M loss. Non-operating items added $4.5M, -32% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$11.7M. Non-cash charges added back $6.3M of share-based compensation. Working capital and other items used $4.0M. Capital expenditures of $353K exceeded it, leaving free cash flow of −$12.0M.
Questions
What was Butterfly Network's revenue in the first quarter 2025?
Butterfly Network (BFLY) reported revenue of $21.2M for the first quarter 2025 (Q1 2025), +20% from a year earlier and -5% from the quarter before.
Was Butterfly Network profitable in the first quarter 2025?
Operating loss was $18.5M (-87.0% of revenue) and net loss $14.0M.
Source: Butterfly Network 10-Q on SEC EDGAR.