Filing Flows › Butterfly Network (BFLY) › Q3 2025
Butterfly Network (BFLY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Butterfly Network (BFLY) reported revenue of $21.5M for the third quarter 2025 (Q3 2025), +5% from a year earlier and -8% from the quarter before. Operating margin was -163.5%, net loss $34.0M (158.1% of revenue).
Butterfly Network, Q3 2025: revenue $21.5M (+4% year over year), operating margin -163.5%, net loss $34.0M, operating cash flow −$2.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.5M | -8% | +5% |
| Operating profit | −$35.1M | — | — |
| Net earnings | −$34.0M | — | — |
| Operating cash flow | −$2.9M | — | — |
What changed
Revenue was $21.5M in Q3 2025, up 5% year over year and down 8% from the previous quarter. Hardware was the largest line at 68% of revenue. Hardware added $1.0M year over year (up 8%), 110% of the total change. Software and other services declined 1%.
Operating costs exceeded revenue by $35.1M, an operating margin of -163.5%. The fastest-growing cost line was Other operating costs (+65%). The quarter ended with a net loss of $34.0M, wider than the previous quarter's $13.8M loss.
Operating cash flow was −$2.9M. Non-cash charges added back $4.9M of share-based compensation. Working capital and other items added $26.2M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$3.9M.
Questions
What was Butterfly Network's revenue in the third quarter 2025?
Butterfly Network (BFLY) reported revenue of $21.5M for the third quarter 2025 (Q3 2025), +5% from a year earlier and -8% from the quarter before.
Was Butterfly Network profitable in the third quarter 2025?
Operating loss was $35.1M (-163.5% of revenue) and net loss $34.0M.
Source: Butterfly Network 10-Q on SEC EDGAR.