Overview
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- TickerBFLY on NYSE2
- IndustryX-Ray Apparatus & Tubes & Related Irradiation Apparatus2
- HeadquartersWilmington, United States2
- Incorporated inDE4
- Business address1600 District Avenue, Burlington, Ma 018034
- Filer categoryNon-accelerated filer, Smaller reporting company4
- Legal formCorporation2
- LEI529900T0NQDXLISL13482
- StatusActive2
- LEI statusIssued and current2
- Registered addressc/o CORPORATION SERVICE COMPANY, 251 LITTLE FALLS DRIVE, 19808 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 78347472
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Butterfly is the pioneer of the Ultrasound-on-Chip™ semiconductor platform and a leader in semiconductor-based point-of-care ultrasound technology. We combine proprietary hardware, intuitive software, services and educational offerings that can make ultrasound more accessible than ever before. Our flagship point-of-care solution enables the practical application of ultrasound information into the clinical workflow through affordable ultrasound devices that fit in a healthcare professional’s pocket and pair with cloud-connected software that is easily accessed through a mobile application.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
46.9%Gross margin3
-88.5%Operating margin3
-79.0%Net margin3
19.0%Revenue growth, 20253
-39.3%Return on equity3
-$16.0MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product brought in 65% of the revenue Butterfly Network, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Product | $40.0M | $54.2M | $63.4M |
| Software And Other Services | $25.9M | $27.9M | $34.2M |
Regions
United States brought in 79% of the revenue Butterfly Network, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $52.1M | $63.4M | $77.4M |
| Outside the United States | $13.8M | $18.6M | $20.2M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue53¢$51.9M
- Research and development37¢$36.3M
- Other costs10¢$9.4M
- Income tax0¢$110.0K
Out of $97.6M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $97.6M | $82.1M | $65.9M |
| Total cost of revenue | $51.9M | $33.2M | $49.0M |
| Gross profit | $45.7M | $48.8M | $16.9M |
| Research and development | $36.3M | $37.8M | $55.6M |
| Sales and marketing | $45.9M | $41.6M | $39.1M |
| General and administrative | $39.2M | $39.8M | $49.6M |
| Other | $10.8M | $4.1M | $18.2M |
| Total operating expenses | $132.1M | $123.2M | $162.5M |
| Loss from operations | -$86.4M | -$74.4M | -$145.6M |
| Interest income | $5.9M | $5.0M | $7.5M |
| Interest expense | -$1.5M | -$1.3M | $0 |
| Change in fair value of warrant liabilities | $2.3M | -$1.9M | $4.5M |
| Other income (expense), net | $2.8M | -$13.0K | -$2.0K |
| Loss before provision for income taxes | -$77.0M | -$72.5M | -$133.6M |
| Provision (benefit) for income taxes | $110.0K | -$32.0K | $82.0K |
| Net loss and comprehensive loss | -$77.1M | -$72.5M | -$133.7M |
| Net loss and comprehensive loss | -$77.1M | -$72.5M | -$133.7M |
| Net loss per common share attributable to Class A and B common stockholders - basic (in dollars per share) | -$0.31 | -$0.34 | -$0.65 |
| Net loss per common share attributable to Class A and B common stockholders - diluted (in dollars per share) | -$0.31 | -$0.34 | -$0.65 |
| Weighted-average common shares used to compute net loss per share attributable to Class A and Class B common stockholders - basic (in shares) | 247.1M shares | 211.7M shares | 205.4M shares |
| Weighted-average common shares used to compute net loss per share attributable to Class A and Class B common stockholders - diluted (in shares) | 247.1M shares | 211.7M shares | 205.4M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $150.5M | $88.8M | ||
| Accounts receivable, net of allowance for credit losses of $1,389 and $2,583 at December 31, 2025 and December 31, 2024, respectively | $26.7M | $20.8M | ||
| Inventories | $61.4M | $70.8M | ||
| Current portion of vendor advances | $2.1M | $5.5M | ||
| Prepaid expenses and other current assets | $8.4M | $6.7M | ||
| Total current assets | $249.1M | $192.6M | ||
| Property and equipment, net | $16.6M | $19.5M | ||
| Intangible assets, net | $7.5M | $8.9M | ||
| Non-current portion of vendor advances | $5.0M | $15.0M | ||
| Operating lease assets | $12.7M | $14.2M | ||
| Other non-current assets | $5.7M | $5.8M | ||
| Total assets | $296.5M | $256.1M | ||
| Accounts payable | $5.4M | $4.2M | ||
| Deferred revenue, current | $26.9M | $16.1M | ||
| Accrued purchase commitments, current | $131.0K | $131.0K | ||
| Warrant liabilities, current | $413.0K | $0 | ||
| Accrued expenses and other current liabilities | $32.2M | $27.7M | ||
| Total current liabilities | $65.1M | $48.2M | ||
| Deferred revenue, non-current | $9.4M | $7.3M | ||
| Warrant liabilities, non-current | $0 | $2.7M | ||
| Operating lease liabilities | $17.7M | $20.4M | ||
| Other non-current liabilities | $8.3M | $8.6M | ||
| Total liabilities | $100.6M | $87.2M | ||
| Additional paid-in capital | $1.1B | $970.9M | ||
| Accumulated deficit | -$879.2M | -$802.1M | ||
| Total stockholders equity | $196.0M | $168.8M | $220.1M | $325.4M |
| Total liabilities and stockholders equity | $296.5M | $256.1M | ||
| Accounts receivable, net of allowance for doubtful accounts | $1.4M | $2.6M |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $150.5M | $88.8M | ||
| Accounts receivable, net of allowance for credit losses of $1,389 and $2,583 at December 31, 2025 and December 31, 2024, respectively | $26.7M | $20.8M | ||
| Inventories | $61.4M | $70.8M | ||
| Current portion of vendor advances | $2.1M | $5.5M | ||
| Prepaid expenses and other current assets | $8.4M | $6.7M | ||
| Total current assets | $249.1M | $192.6M | ||
| Property and equipment, net | $16.6M | $19.5M | ||
| Intangible assets, net | $7.5M | $8.9M | ||
| Non-current portion of vendor advances | $5.0M | $15.0M | ||
| Operating lease assets | $12.7M | $14.2M | ||
| Other non-current assets | $5.7M | $5.8M | ||
| Total assets | $296.5M | $256.1M | ||
| Accounts payable | $5.4M | $4.2M | ||
| Deferred revenue, current | $26.9M | $16.1M | ||
| Accrued purchase commitments, current | $131.0K | $131.0K | ||
| Warrant liabilities, current | $413.0K | $0 | ||
| Accrued expenses and other current liabilities | $32.2M | $27.7M | ||
| Total current liabilities | $65.1M | $48.2M | ||
| Deferred revenue, non-current | $9.4M | $7.3M | ||
| Warrant liabilities, non-current | $0 | $2.7M | ||
| Operating lease liabilities | $17.7M | $20.4M | ||
| Other non-current liabilities | $8.3M | $8.6M | ||
| Total liabilities | $100.6M | $87.2M | ||
| Additional paid-in capital | $1.1B | $970.9M | ||
| Accumulated deficit | -$879.2M | -$802.1M | ||
| Total stockholders equity | $196.0M | $168.8M | $220.1M | $325.4M |
| Total liabilities and stockholders equity | $296.5M | $256.1M | ||
| Accounts receivable, net of allowance for doubtful accounts | $1.4M | $2.6M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$77.1M | -$72.5M | -$133.7M |
| Depreciation, amortization, and impairments | $8.1M | $10.3M | $10.6M |
| Non-cash interest expense | $1.5M | $1.3M | $0 |
| Write-down of inventories | $8.0M | $15.0K | $21.1M |
| Write-down of vendor advances | $9.6M | $0 | $0 |
| Stock-based compensation expense | $23.4M | $21.0M | $27.5M |
| Change in fair value of warrant liabilities | -$2.3M | $1.9M | -$4.5M |
| Gain on lease termination | $0 | $0 | -$214.0K |
| Other | $799.0K | $1.1M | $633.0K |
| Accounts receivable | -$6.8M | -$8.5M | -$162.0K |
| Inventories | $1.4M | $2.2M | -$34.1M |
| Prepaid expenses and other assets | -$1.6M | $1.3M | $3.0M |
| Vendor advances | $3.9M | -$2.5M | $17.1M |
| Accounts payable | $1.2M | -$841.0K | -$1.9M |
| Deferred revenue | $12.8M | $435.0K | $2.2M |
| Accrued purchase commitments | $0 | $0 | -$2.0M |
| Change in operating lease assets and liabilities | -$855.0K | -$750.0K | -$635.0K |
| Accrued expenses and other liabilities | $5.1M | $3.8M | -$3.6M |
| Net cash used in operating activities | -$12.7M | -$41.7M | -$98.8M |
| Purchases of marketable securities | $0 | $0 | -$297.0K |
| Sales of marketable securities | $0 | $0 | $76.5M |
| Purchases of property, equipment, and intangible assets, including capitalized software | -$3.3M | -$2.7M | -$5.8M |
| Sales of property and equipment | $0 | $36.0K | $10.0K |
| Net cash provided by (used in) investing activities | -$3.3M | -$2.7M | $70.4M |
| Proceeds from exercise of stock options | $816.0K | $64.0K | $228.0K |
| Proceeds from employee stock purchase plan | $1.4M | $495.0K | $0 |
| Net proceeds from share offering | $81.0M | $0 | $0 |
| Payments to tax authorities for restricted stock units withheld | -$2.8M | -$739.0K | $0 |
| Payments on technology license commitment | -$2.7M | -$1.3M | $0 |
| Net cash provided by (used in) financing activities | $77.8M | -$1.5M | $228.0K |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $61.7M | -$45.9M | -$28.2M |
| Interest paid | $810.0K | $190.0K | $0 |
| Acquisition of property, equipment, and intangible assets, including capitalized software | $396.0K | $470.0K | $9.2M |
No quarter-by-quarter statement was filed.
Corporate structure
Butterfly Network, Inc. sits at the top of its group. 4 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Butterfly Network, Inc.
- GLENVIEW CAPITAL MANAGEMENT, LLC Filed SCHEDULE 13D/A on Butterfly Network, Inc., latest Aug 17, 2026 (6 filings since Feb 14, 2023)
- Jonathan M. Rothberg Filed SCHEDULE 13D/A on Butterfly Network, Inc., latest Aug 17, 2026 (11 filings since Mar 28, 2022)
- Hood River Capital Management LLC Filed SCHEDULE 13G on Butterfly Network, Inc., latest Aug 14, 2026
- FMR LLC Filed SCHEDULE 13G on Butterfly Network, Inc., latest Aug 7, 2026 (3 filings since Feb 9, 2022)
- BlackRock Filed SCHEDULE 13G/A on Butterfly Network, Inc., latest Jul 27, 2026 (6 filings since Feb 4, 2022)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Butterfly Network, Inc., latest Mar 26, 2026 (5 filings since Feb 9, 2022)
- Fosun Industrial Co., Ltd Filed SCHEDULE 13G/A on Butterfly Network, Inc., latest Feb 5, 2026 (2 filings since Feb 14, 2023)
- ARK Investment Management LLC Filed SCHEDULE 13G/A on Butterfly Network, Inc., latest Jan 10, 2025 (3 filings since Feb 10, 2023)
- Longview Investors LLC Filed SC 13D/A on Butterfly Network, Inc., latest Mar 11, 2022
- Butterfly Network, Inc. Wilmington, Delaware, United States
- BFLY Operations, Inc. Subsidiary · Delaware, United States
- Butterfly Network Netherlands B.V. Subsidiary · Netherlands
- Octiv LLC Subsidiary · Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Butterfly Network, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $49.9M3 Dec 31, 2025 | $46.4M3 Dec 31, 2024 | +7.4% |
| Accumulated depreciation | $33.3M3 Dec 31, 2025 | $26.9M3 Dec 31, 2024 | +23.7% |
| Property and equipment, net | $16.6M3 Dec 31, 2025 | $19.5M3 Dec 31, 2024 | −15.0% |
| Operating-lease assets (leased space) | $12.7M3 Dec 31, 2025 | $14.2M3 Dec 31, 2024 | −11.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $150.5M3 Dec 31, 2025 | $88.8M3 Dec 31, 2024 | +69.5% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $7.5M3 Dec 31, 2025 | $8.9M3 Dec 31, 2024 | −15.7% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $61.4M3 Dec 31, 2025 | $70.8M3 Dec 31, 2024 | −13.3% |
| Raw materials | $37.9M3 Dec 31, 2025 | $47.6M3 Dec 31, 2024 | −20.5% |
| Work in process | $5.1M3 Dec 31, 2025 | $4.7M3 Dec 31, 2024 | +6.7% |
| Finished goods | $18.5M3 Dec 31, 2025 | $18.4M3 Dec 31, 2024 | +0.3% |
Properties, in its own words
We currently maintain our executive offices in Burlington, Massachusetts under a lease for approximately 60,000 rentable square feet consisting of the entire building. In addition to serving as our corporate headquarters, the office supports our sales, marketing, R&D, and other general and administrative functions. The lease expires in 2033.
Additionally, we occupy other office space domestically in New York City. We also occupy office space internationally in Taiwan. We lease the office spaces under operating leases. We consider our current office space adequate for our current operations.
Item 2 of the 10-K filed Feb 27, 2026.6
Leadership
Who has led Butterfly Network, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2025
- Chief executive officerBrent Pfeiffenberger Mar 11, 2024 to May 24, 202415
- Chief executive officerJoseph Devivo Apr 26, 2023 to Mar 11, 202416
- Chief executive officerTodd Fruchterman Feb 16, 2021 to Mar 24, 202217
- Chief executive officerJohn Rodin May 20, 2020 to May 20, 202018
- PresidentBrent Pfeiffenberger Mar 11, 2024 to May 24, 202415
- PresidentJoseph Devivo Apr 26, 2023 to Mar 11, 202416
- PresidentTodd Fruchterman Feb 16, 2021 to Mar 24, 202217
- Chief financial officerMegan Carlson Aug 6, 2025 to Dec 10, 202519
- Chief financial officerJohn N. Doherty Dec 10, 2025 to now20
- Chief financial officerHeather C. Getz May 4, 2022 to Aug 6, 202521
- Chief financial officerStephanie Fielding Feb 16, 2021 to Mar 21, 202222
- Chief operating officerHeather C. Getz Jul 14, 2023 to now23
- Chief operating officerDavid Perri Feb 16, 2021 to Aug 27, 202124
Board members and other officers (26)
- CAO and SVP, FinanceMegan Carlson Mar 4, 2026 to now25
- Chief Technology OfficerVictor Ku Sep 24, 2025 to now26
- Chief Business OfficerSteve Cashman Sep 5, 2024 to now27
- Chief People OfficerTamara Dillon Jun 1, 2022 to Jun 1, 202228
- CSO and CBDODarius Shahida Feb 16, 2021 to Dec 19, 202229
- EVP and CPOGioel Molinari Feb 16, 2021 to Mar 26, 202130
- Chief Commercial OfficerStacey Pugh Mar 19, 2021 to Mar 24, 202231
- Chief Human Resources OfficerTimothy Trodden Apr 21, 2021 to Apr 21, 202132
- Chief Technology OfficerAndrei G. Stoica Jul 21, 2021 to now33
- SVP, Regulatory and QualityTroy Quander Sep 20, 2021 to Dec 14, 202234
- Board memberCaroll H. Neubauer May 21, 2026 to now35
- Board memberBrent Pfeiffenberger Mar 11, 2024 to May 24, 202415
- Board memberJoseph Devivo Apr 26, 2023 to now16
- Board memberDawn Carfora Feb 16, 2021 to now36
- Board memberGianluca Pettiti Feb 16, 2021 to Jun 22, 202337
- Board memberJohn Hammergren Feb 16, 2021 to Jun 22, 202238
- Board memberS. Louise Phanstiel Feb 16, 2021 to now39
- Board memberTodd Fruchterman Feb 16, 2021 to Mar 24, 202217
- Board memberElazer R. Edelman Mar 15, 2021 to now40
- Board memberDerek Cribbs May 20, 2020 to May 20, 202041
- Board memberJohn Rodin May 20, 2020 to May 20, 202018
- Board memberLarry Robbins May 20, 2020 to now42
- Board memberRandy Simpson May 20, 2020 to May 20, 202043
- Board memberWestley Moore May 20, 2020 to May 20, 202044
- General counselNicholas Caezza Aug 6, 2025 to now45
- General counselLawrence T. Weiss May 24, 2022 to Jul 6, 202346
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- BFLY Operations, Inc. Delaware5
- Butterfly Network GmbH Germany5
- Butterfly Network Limited England & Wales5
- Butterfly Network Netherlands B.V. The Netherlands5
- Octiv LLC Delaware5
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Longview Acquisition Corp.Feb 26, 2020 to Feb 11, 20214
Timeline
- Oct 5, 20268-K Executive or director change47
- Aug 11, 20268-K Executive or director change48
- Jul 30, 20268-K Results of operations49
- Jun 22, 20268-K Shareholder vote50
- May 8, 20268-K Executive or director change51
- Apr 30, 20268-K Results of operations52
- Feb 26, 20268-K Results of operations53
- Jan 14, 20268-K Listing notice or transfer54
- Jan 12, 20268-K Results of operations55
- Nov 18, 20258-K Entered a material agreement56
- Oct 31, 20258-K Results of operations57
- Oct 9, 20258-K Executive or director change; Regulation FD disclosure58
- Mar 11, 2024New chief executive Brent Pfeiffenberger becomes CEO15
- Apr 26, 2023New chief executive Joseph Devivo becomes CEO16
- Feb 16, 2021New chief executive Todd Fruchterman becomes CEO17
- May 20, 2020New chief executive John Rodin becomes CEO18
- Feb 4, 2020Founded Butterfly Network, Inc. is founded2
Calendar
Coming up
- Oct 29, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported ($0.13) a share, on Oct 31, 2025.59
When it reported results
- Jul 30, 2026Reported quarterly or annual results49
- Apr 30, 2026Reported quarterly or annual results52
- Feb 26, 2026Reported quarterly or annual results53
- Jan 12, 2026Reported quarterly or annual results55
- Oct 31, 2025Reported quarterly or annual results57
- Aug 1, 2025Reported quarterly or annual results60
- May 2, 2025Reported quarterly or annual results61
- Feb 28, 2025Reported quarterly or annual results62
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
500 filings to the SEC since October 2021: 7 annual reports, 18 quarterly reports, 61 major events, 203 insider forms, 38 large holders, 173 other. The latest 20:
- Oct 15, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Oct 15, 20263 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Oct 8, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Oct 6, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Oct 6, 2026144 EDGAR
- Oct 5, 20268-K EDGAR
- Oct 2, 2026144 EDGAR
- Sep 24, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Sep 23, 2026144 EDGAR
- Sep 23, 2026144 EDGAR
- Sep 22, 2026144 EDGAR
- Sep 22, 2026144 EDGAR
- Sep 9, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Sep 9, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Sep 4, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Sep 4, 2026144 EDGAR
- Sep 4, 2026144 EDGAR
- Sep 2, 2026144 EDGAR
- Aug 25, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 17, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
The 500 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
137 open-market trades by officers, directors and large owners since October 2021: 16 buys and 121 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 23, 2026 | DEVIVO JOSEPHPresident & CEO | Sale | 3,169 | $10.02 | $31.8K | Form 4 |
| Sep 22, 2026 | DEVIVO JOSEPHPresident & CEO | Sale | 2,811 | $10.00 | $28.1K | Form 4 |
| Sep 4, 2026 | Cashman SteveChief Business Officer | Sale | 140,112 | $7.30 | $1.0M | Form 4 |
| Sep 4, 2026 | Carlson MeganCAO and SVP, Finance | Sale | 13,804 | $7.30 | $100.8K | Form 4 |
| Sep 2, 2026 | Caezza NicholasDeputy General Counsel | Sale | 1,709 | $8.15 | $13.9K | Form 4 |
| Aug 17, 2026 | ROBBINS LARRYDirector | Sale | 582,500 | $8.97 | $5.2M | Form 4 |
| Aug 14, 2026 | Phanstiel S. LouiseDirector | Buy | 115,200 | $8.68 | $999.9K | Form 4 |
| Aug 14, 2026 | ROBBINS LARRYDirector | Sale | 824,700 | $8.70 | $7.2M | Form 4 |
| Aug 13, 2026 | ROBBINS LARRYDirector | Sale | 890,533 | $9.24 | $8.2M | Form 4 |
| Aug 11, 2026 | Caezza NicholasDeputy General Counsel | Sale | 10,000 | $9.75 | $97.5K | Form 4 |
| Aug 10, 2026 | DEVIVO JOSEPHPresident & CEO | Sale | 68,346 | $10.01 | $684.1K | Form 4 |
| Aug 3, 2026 | ROBBINS LARRYDirector | Sale | 156,163 | $8.10 | $1.3M | Form 4 |
| Jul 31, 2026 | Carlson MeganCAO and SVP, Finance | Sale | 68,852 | $7.86 | $541.2K | Form 4 |
| Jul 31, 2026 | ROBBINS LARRYDirector | Sale | 1,720,129 | $7.39 | $12.7M | Form 4 |
| Jul 22, 2026 | ROTHBERG JONATHAN MDirector | Sale | 659,913 | $6.47 | $4.3M | Form 4 |
| Jul 21, 2026 | ROTHBERG JONATHAN MDirector | Sale | 753,320 | $6.74 | $5.1M | Form 4 |
| Jul 20, 2026 | Ku VictorChief Technology Officer | Sale | 48,540 | $6.56 | $318.4K | Form 4 |
| Jul 20, 2026 | Doherty John N.EVP, CFO | Sale | 57,136 | $6.56 | $374.8K | Form 4 |
| Jul 20, 2026 | DEVIVO JOSEPHPresident & CEO | Sale | 211,798 | $6.56 | $1.4M | Form 4 |
| Jul 20, 2026 | ROTHBERG JONATHAN MDirector | Sale | 1,177,276 | $6.61 | $7.8M | Form 4 |
All 137 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- GLENVIEW CAPITAL MANAGEMENT, LLCSCHEDULE 13D/A, 6 filings Feb 14, 2023 to Aug 17, 202663
- Jonathan M. RothbergSCHEDULE 13D/A, 11 filings Mar 28, 2022 to Aug 17, 202664
- Hood River Capital Management LLCSCHEDULE 13G, 1 filing Aug 14, 202665
- FMR LLCSCHEDULE 13G, 3 filings Feb 9, 2022 to Aug 7, 202666
- BlackRockSCHEDULE 13G/A, 6 filings Feb 4, 2022 to Jul 27, 202667
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 9, 2022 to Mar 26, 202668
- Fosun Industrial Co., LtdSCHEDULE 13G/A, 2 filings Feb 14, 2023 to Feb 5, 202669
- ARK Investment Management LLCSCHEDULE 13G/A, 3 filings Feb 10, 2023 to Jan 10, 202570
- Longview Investors LLCSC 13D/A, 1 filing Mar 11, 202271
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Joseph DeVivoPresident and Chief Executive Officer | 59 | $900.3K | $6.4M72 |
| 2025 | John DohertyChief Financial Officer | 61 | $20.4K | $4.8M72 |
| 2025 | Heather GetzFormer Chief Financial & Operations Officer | $3.0M72 | ||
| 2025 | Steven CashmanChief Business Officer | 49 | $529.9K | $2.5M72 |
| 2024 | Joseph DeVivoPresident and Chief Executive Officer | 59 | $875.0K | $5.5M72 |
| 2024 | Steven CashmanChief Business Officer | 49 | $159.5K | $2.7M72 |
| 2024 | Heather GetzFormer Chief Financial & Operations Officer | $600.0K | $2.6M72 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 18,821,463 | $158.5M | 0.0% | +2,859,983 |
| Glenview Capital Management, LLC | 14,335,055 | $120.7M | 2.4% | No change |
| Hood River Capital Management LLC | 13,190,130 | $111.1M | 0.8% | +4,569,282 |
| Fosun International Ltd | 10,234,923 | $86.2M | 19.3% | −481,707 |
| Vanguard Capital Management LLC | 8,559,346 | $72.1M | 0.0% | +367,227 |
| D. E. Shaw & Co., Inc. | 6,392,827 | $53.8M | 0.0% | +5,272,536 |
| State Street Corp | 5,762,672 | $48.5M | 0.0% | +223,012 |
| Geode Capital Management, LLC | 5,345,672 | $45.0M | 0.0% | +536,568 |
| ARK Investment Management LLC | 5,085,456 | $42.8M | 0.3% | −142,047 |
| Nuveen, LLC | 5,056,372 | $42.6M | 0.0% | +1,306,436 |
| Fmr LLC | 4,910,388 | $41.3M | 0.0% | +4,470,379 |
| AWM Investment Company, Inc. | 4,430,593 | $37.3M | 3.2% | No change |
| Sei Investments Co | 2,937,872 | $24.7M | 0.0% | +638,978 |
| Goldman Sachs Group Inc | 2,761,860 | $23.3M | 0.0% | +1,909,694 |
| First Light Asset Management, LLC | 2,642,404 | $22.2M | 1.4% | −17,763 |
| Deutsche Bank Ag\ | 2,580,435 | $21.7M | 0.0% | +316,926 |
| Vanguard Portfolio Management LLC | 2,382,239 | $20.1M | 0.0% | +545,358 |
| Millennium Management LLC | 2,154,551 | $18.1M | 0.0% | −1,334,254 |
| Bank Of America Corp /de/ | 2,138,268 | $18.0M | 0.0% | −2,026,954 |
| Dimensional Fund Advisors LP | 1,946,435 | $16.4M | 0.0% | −411,746 |
| Algert Global LLC | 1,814,447 | $15.3M | 0.2% | −847,600 |
| Charles Schwab Investment Management Inc | 1,777,614 | $15.0M | 0.0% | +101,022 |
| Northern Trust Corp | 1,765,235 | $14.9M | 0.0% | +210,001 |
| Kingdon Capital Management, L.l.c. | 1,700,000 | $14.3M | 1.9% | New |
| Vanguard Fiduciary Trust Co | 1,503,621 | $12.7M | 0.0% | +94,485 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Butterfly Network, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARButterfly Network, Inc.1
- CIK0001804176
- Employer ID (EIN)84-46181566
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company6
- Incorporated inDelaware6
- Fiscal year endsDecember 311
- Industry code (SIC)3844 X-Ray Apparatus & Tubes & Related Irradiation Apparatus1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business address1600 District Avenue, Burlington, MA 018031
- Phone781-557-48001
- Shares outstanding228,205,930 Common Class A shares; 26,426,937 Common Class B shares as of Feb 19, 20266
- Public float$383.8M as of Jun 30, 20256
- AuditorDeloitte & Touche LLP, New York, New York PCAOB ID 34; no auditor attestation of internal control over financial reporting6
- On EDGAR sinceFeb 26, 20201
- Filings650 in all: 4 (223), 144 (109), 8-K (72), 3 (37), 424B3 (30), 10-Q (19), 8-K/A (13), 425 (11)1
All 44 form types
SCHEDULE 13D/A (11), SC 13D/A (10), SC 13G/A (9), CORRESP (8), EFFECT (8), UPLOAD (8), DEFA14A (7), SC 13G (7), 10-K (6), DEF 14A (5), S-8 (5), ARS (4), POS AM (4), SCHEDULE 13G (4), SCHEDULE 13G/A (4), 10-K/A (3), 10-Q/A (3), 4/A (3), S-4/A (3), SC 13D (3), 25-NSE (2), 424B5 (2), S-1 (2), S-1/A (2), SEC STAFF LETTER (2), 424B4 (1), 8-A12B (1), 8-A12B/A (1), CERT (1), DRS (1), DRS/A (1), PRE 14A (1), S-1MEF (1), S-3 (1), S-3/A (1), S-4 (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Jul 30, 2026
Proxy statement (DEF 14A) Apr 27, 2026
Latest 8-K (8-K) Oct 5, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A common stock, $0.0001 par value per share | BFLY | The New York Stock Exchange |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
The risks Butterfly Network, Inc. names in Item 1A of its 10-K filed Feb 27, 2026: 51 risks under these headings, as written.6
- You should consider carefully the following risk factors, together with all of the other information included in this report. If any of the following risks, either alone or taken together, or other risks not presently known to us or that we currently believe to not be significant, develop into actual events, then our business, financial condition, results of operations, or prospects could be materially adversely affected. If that happens, the market price of our common stock could decline, and stockholders may lose all or part of their investment.
- Unless the context otherwise requires, references in this section to “we,” “us,” “our,” and the “Company” refer to Butterfly Network, Inc. and its subsidiaries.
- Risks Related to Our Financial Condition and Capital Requirements
- We have a limited history of generating revenue from sales of our products, and we have incurred significant losses since inception. We anticipate that we will continue to incur losses for at least the next several years as we continue to commercialize our existing products and services and seek to develop and commercialize new products and services.
- Risks Related to Our Business and Operations
- Our success depends upon market acceptance of our products and services, our ability to develop and commercialize existing and new products and services and generate revenues, and our ability to identify new markets for our technology.
- Medical device development is costly and involves continual technological change, which may render our current or future medical devices obsolete.
- We are dependent upon the success of our sales and customer acquisition and retention strategies.
- Our research and development efforts may not succeed in developing commercially successful products and technologies, which could adversely affect our business.
- We expect to generate an increasing portion of our revenue internationally in the future and may become subject to various additional risks relating to our international activities, which could adversely affect our business, operating results and financial condition.
- If we are unable to attract, recruit, train, retain, motivate, and integrate key personnel, we may not achieve our goals.
- We have chosen to engage a single supplier, TSMC, to supply and manufacture a key component of our products. If TSMC fails to fulfill its obligations under its existing contractual arrangements with us or does not perform satisfactorily, or if this relationship is terminated for other reasons, our ability to source our devices would be negatively and adversely affected.
The other 41 risks
- We rely on a single contract manufacturer, Benchmark, to test, assemble, and supply our finished products. If Benchmark fails to fulfill its obligations under its existing contractual arrangements with us or does not perform satisfactorily, our ability to source our devices could be negatively and adversely affected.
- We have and may continue to experience pricing pressures from contract suppliers or manufacturers on which we rely.
- Any interruption in the operations of our manufacturing facilities, or our suppliers’ or customers’ facilities, may impair our ability to deliver products or provide services.
- We rely on limited or sole suppliers for some of the materials and components used in our products that may not be able to supply such materials and components in sufficient quantities, on a timely basis, or at acceptable costs, and we may not be able to find replacements or immediately transition to alternative suppliers, which could have a material adverse effect on our business, financial condition, results of operations, and reputation.
- Acquisitions, joint ventures, or other strategic transactions, including in connection with our Butterfly Embedded™ program, could disrupt our business, cause dilution to our stockholders, and otherwise harm our business.
- If we are unable to continue the development of an adequate sales and marketing organization and/or if our direct sales organization is not successful, we may have difficulty achieving market awareness and selling our products in the future.
- If we are unable to continue establishing and maintaining adequate sales and marketing capabilities, or unable to continue entering into and maintaining arrangements with third parties to sell and market our products, our business may be harmed.
- We operate in highly competitive markets, competition may increase in the future, and our industry may be further disrupted.
- Unfavorable global economic conditions could adversely affect our business, financial condition, or results of operations.
- Changes in applicable tax laws and regulations could adversely affect our business.
- Our ability to use net operating losses and certain other tax assets to offset future income may be subject to certain limitations.
- We could be adversely affected by violations of the FCPA and other worldwide anti-bribery laws by us or our agents.
- Risks Related to Government Regulation and Other Legal Compliance Matters
- We are subject to extensive government regulation, which could restrict the development, marketing, sale, and distribution of our products and could cause us to incur significant costs.
- If we, our contract manufacturers or our component suppliers are unable to manufacture our products in compliance with regulatory and quality requirements, the manufacturing and distribution of our devices could be interrupted, and our product sales and operating results could suffer.
- Our current or future medical devices may be subject to product recalls even after receiving FDA clearance or approval. A recall of such products, either voluntarily or at the direction of the FDA, or the discovery of serious safety issues with such products, could have a significant adverse impact on us.
- We may be subject to enforcement action if we engage in improper or off-label marketing or promotion of our medical devices, including fines, penalties, and injunctions.
- In some instances in our advertising and promotion, we may make claims regarding our medical devices as compared to competing products, which may subject us to heightened regulatory scrutiny, enforcement risk, and litigation risks.
- We are subject to federal, state, and foreign laws prohibiting “kickbacks” and false or fraudulent claims, and other fraud and abuse laws, transparency laws, and other health care laws and regulations, which, if violated, could subject us to substantial penalties. Additionally, any challenge to or investigation into our practices under these laws could cause adverse publicity and be costly to respond to, and thus could harm our business.
- We are subject to complex and evolving U.S. and foreign laws and regulations regarding privacy, data protection, and other matters. Many of these laws and regulations are subject to change and uncertain interpretation, and could result in claims, changes to our business practices, monetary penalties, increased cost of operations, or declines in customer growth or engagement, or otherwise harm our business.
- Increased cybersecurity requirements, vulnerabilities, threats, and more sophisticated and targeted computer crimes pose a risk to our systems, networks, products, solutions, services, and data, as well as our reputation, which could adversely affect our business.
- Issues relating to the responsible use of our technologies, including AI in our offerings, may result in reputational or financial harm and liability.
- Broad-based domestic and international government initiatives to reduce spending, particularly those related to healthcare costs, may reduce reimbursement rates for medical procedures, which will reduce the cost-effectiveness of our products and services.
- Healthcare industry cost-containment measures could result in reduced sales of our products and services.
- Risks Related to Butterfly’s Intellectual Property
- If we are unable to protect our intellectual property, our ability to maintain any technological or competitive advantage over our competitors and potential competitors would be adversely impacted, and our business may be harmed.
- Our wafer bonding technology for ultrasound applications is licensed to us by Stanford. Any loss of our rights to this technology could prevent us from selling our products.
- We may need or may choose to obtain licenses from third parties to advance our research or allow commercialization of our current or future products, and we cannot provide any assurances that we would be able to obtain such licenses.
- We out-license our intellectual property to third parties, and our licensees may not always act in our best interest. If these third parties fail to comply with their obligations under their respective licenses with us, if these licenses are terminated, or if disputes regarding these licenses arise, we could lose significant revenue or rights that are important to our business.
- If we or any of our partners are sued for infringing the intellectual property rights of third parties, such litigation would be costly and time consuming, and an unfavorable outcome in any such litigation could have a material adverse effect on our business. We may be involved in lawsuits to protect or enforce our patents or the patents of our licensors, which could be expensive, time-consuming, and unsuccessful.
- Changes in patent laws or patent jurisprudence could diminish the value of patents in general, thereby impairing our ability to protect our products.
- If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
- We may use third-party open source software components in future products, and failure to comply with the terms of the underlying open source software licenses could restrict our ability to sell such products.
- We use third-party software that may cause errors or failures of our products that could lead to lost customers or harm to our reputation.
- Risks Related to Our Securities and to Being a Public Company
- If we fail to maintain proper and effective internal controls, our ability to produce accurate and timely financial statements could be impaired, which could harm our operating results, our ability to operate our business, and investors’ views of us.
- We are a smaller reporting company, and any decision on our part to comply only with reduced reporting and disclosure requirements applicable to such companies could make our common stock less attractive to investors.
- Because we are a “controlled company” within the meaning of the NYSE rules, our stockholders may not have certain corporate governance protections that are available to stockholders of companies that are not controlled companies.
- The dual class structure of our common stock has the effect of concentrating voting power with our founder, which will limit an investor’s ability to influence the outcome of important transactions, including a change in control.
- Delaware law and provisions in our certificate of incorporation and bylaws could make a takeover proposal more difficult.
- Our certificate of incorporation designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings, and the federal district courts as the sole and exclusive forum for other types of actions and proceedings, in each case, that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain what such stockholders believe to be a favorable judicial forum for disputes with the Company or our directors, officers, or other employees.
- Litigation Risks
- We face the risk of product liability claims and may be subject to damages, fines, penalties, and injunctions, among other things.
- We are currently subject to a securities class action lawsuit and stockholder derivative actions, and we have indemnification obligations to certain defendants party to a putative class action, the unfavorable outcomes of which may have a material adverse effect on our financial condition, results of operations, and cash flows.
- General Risk Factors
- The price of our common stock historically has been volatile, which may affect the price at which you could sell any shares of our common stock.
Legal proceedings
We are currently and may in the future be subject to legal proceedings, claims, and regulatory actions arising in the ordinary course of business. The outcome of any such matters, regardless of the merits, is inherently uncertain.
For more information about our legal proceedings and this item, refer to the “Contingencies” section in Note 17, “Commitments and Contingencies” in the Notes to the Consolidated Financial Statements in Part II, Item 8 “Financial Statements and Supplementary Data” of this Annual Report on Form 10-K, which is incorporated herein by reference.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 18SEC EDGARJohn Rodin, Chief executive officer
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- 24SEC EDGARDavid Perri, Chief operating officer
- 25SEC EDGARMegan Carlson, CAO and SVP, Finance
- 26SEC EDGARVictor Ku, Chief Technology Officer
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- 28SEC EDGARTamara Dillon, Chief People Officer
- 29SEC EDGARDarius Shahida, CSO and CBDO
- 30SEC EDGARGioel Molinari, EVP and CPO
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- 35SEC EDGARCaroll H. Neubauer, Board member
- 36SEC EDGARDawn Carfora, Board member
- 37SEC EDGARGianluca Pettiti, Board member
- 38SEC EDGARJohn Hammergren, Board member
- 39SEC EDGARS. Louise Phanstiel, Board member
- 40SEC EDGARElazer R. Edelman, Board member
- 41SEC EDGARDerek Cribbs, Board member
- 42SEC EDGARLarry Robbins, Board member
- 43SEC EDGARRandy Simpson, Board member
- 44SEC EDGARWestley Moore, Board member
- 45SEC EDGARNicholas Caezza, General counsel
- 46SEC EDGARLawrence T. Weiss, General counsel
- 47SEC EDGARExecutive or director change
- 48SEC EDGARExecutive or director change
- 49SEC EDGARResults of operations
- 50SEC EDGARShareholder vote
- 51SEC EDGARExecutive or director change
- 52SEC EDGARResults of operations
- 53SEC EDGARResults of operations
- 54SEC EDGARListing notice or transfer
- 55SEC EDGARResults of operations
- 56SEC EDGAREntered a material agreement
- 57SEC EDGARResults of operations
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