Butterfly Network (BFLY) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 51.7% YoY to $32.6M, exceeding the high end of revenue and Adjusted EBITDA guidance; gross margin reached 73.0%.

• Embedded partnerships, U.S. probe sales and enterprise momentum supported growth; FY26 revenue and Adjusted EBITDA guidance increased.

Financial highlights

• Q3 revenue was $32.6M versus $21.5M YoY; nine-month revenue was $91.7M versus $66.1M.

• Q3 gross profit was $23.8M versus a $3.8M loss; excluding the prior-year $17.5M inventory write-down, gross profit increased $10.1M, or 74% YoY.

• Net loss narrowed to $12.8M, or $0.05 per share, from $34.0M, or $0.13 per share; nine-month net loss was $38.4M.

• Adjusted EBITDA loss improved 85% to $1.2M from $8.1M; quarterly cash use was $2.4M versus $3.9M.

• Q3 operating expenses were $37.4M, up 19% YoY; nine-month operating expenses were $106.5M versus $94.2M.

Outlook and guidance

• FY26 revenue guidance increased to $123M–$126M, implying 26%–29% growth; Q4 revenue guidance is $31M–$34M.

• FY26 Adjusted EBITDA loss guidance improved to $12M–$15M; Q4 loss guidance is $3M–$6M.

• Home & Community Care scanning is set to begin in November, with initial revenue expected in Q4; revenue is expected to grow through 2027 and could become meaningful in 2028.

• Management remains on track for Adjusted EBITDA and cash flow positivity in 2028; existing cash and operating cash flows are expected to fund operations for at least 12 months.