Filing Flows › Butterfly Network (BFLY) › Q2 2025
Butterfly Network (BFLY) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Butterfly Network (BFLY) reported revenue of $23.4M for the second quarter 2025 (Q2 2025), +9% from a year earlier and +10% from the quarter before. Operating margin was -68.9%, net loss $13.8M (59.2% of revenue).
Butterfly Network, Q2 2025: revenue $23.4M (+9% year over year), operating margin -68.9%, net loss $13.8M, operating cash flow −$7.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $23.4M | +10% | +9% |
| Operating profit | −$16.1M | — | — |
| Net earnings | −$13.8M | — | — |
| Operating cash flow | −$7.2M | — | — |
What changed
Revenue was $23.4M in Q2 2025, up 9% year over year and up 10% from the previous quarter. Hardware was the largest line at 71% of revenue. Hardware added $2.0M year over year (up 13%), 104% of the total change. Software and other services declined 1%.
Gross margin was 63.7%, up 5.1 points from a year earlier. Operating costs exceeded revenue by $16.1M, an operating margin of -68.9%. Operating expenses grew 4% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+228%). The quarter ended with a net loss of $13.8M, narrower than the previous quarter's $14.0M loss.
Operating cash flow was −$7.2M. Non-cash charges added back $5.9M of share-based compensation. Working capital and other items added $803K. Capital expenditures of $896K exceeded it, leaving free cash flow of −$8.1M.
Questions
What was Butterfly Network's revenue in the second quarter 2025?
Butterfly Network (BFLY) reported revenue of $23.4M for the second quarter 2025 (Q2 2025), +9% from a year earlier and +10% from the quarter before.
Was Butterfly Network profitable in the second quarter 2025?
Operating loss was $16.1M (-68.9% of revenue) and net loss $13.8M.
Source: Butterfly Network 10-Q on SEC EDGAR.