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Butterfly Network (BFLY) investor relations material
Butterfly Network Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record quarterly revenue of $23.4 million in Q2 2025, up 8.8–9% year-over-year, with gross margin at an all-time high of 63.7–64% and lowest cash use to date at $7–7.1 million, despite macroeconomic headwinds.
Net loss for Q2 2025 was $13.8 million, improved from $15.7 million in Q2 2024, reflecting higher gross profit and reduced operating expenses.
Advanced AI and software initiatives, including the commercial phase of Butterfly Garden, upcoming Compass AI launch, and FDA clearance for three AI-powered clinical applications.
Leadership transition announced: CFO/COO departure, interim appointment, and search for permanent replacement underway.
Closed a large enterprise-wide deal with a top five global health system, marking progress in enterprise and medical school channels, though sales cycles have lengthened.
Financial highlights
Q2 2025 revenue: $23.4 million (up 8.8–9% year-over-year); six-month revenue: $44.6 million (up 14%).
Gross profit increased to $14.9 million, with gross margin rising to 63.7–64% from 58.6–59% year-over-year.
Net loss narrowed to $13.8 million from $15.7 million in the prior year period.
Adjusted EBITDA loss improved to $6.2 million from $8.1 million year-over-year; normalized cash burn was $7 million.
Cash and cash equivalents at quarter-end were $148.1–$152 million, up from $88.8 million at year-end 2024.
Outlook and guidance
Full-year revenue guidance revised to $91–96 million, reflecting persistent macro headwinds and delayed large deals; high end depends on closing delayed deals.
Adjusted EBITDA loss guidance improved to $32–37 million for the year, reflecting continued expense discipline.
Q3 revenue expected between $20–22 million, with adjusted EBITDA loss of $8–9 million.
Management expects current resources to fund operations for at least the next 12 months.
Anticipates launch of Compass AI software and commercial deployment of HomeCare solution before year-end.
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