Butterfly Network reported second-quarter 2026 results with record revenue of $32.6 million and an adjusted EBITDA loss of $1.4 million, a 78% improvement year-over-year. Gross profit rose to $23.3 million and gross margin expanded to 71.4%. The company raised full-year revenue and improved adjusted EBITDA guidance while announcing progress across Embedded partnerships, enterprise software and international expansion.

Financial Highlights

  • Total revenue: $32.6 million for the three months ended June 30, 2026 (39% year-over-year growth from $23.4 million).
  • Gross profit: $23.3 million; gross margin: 71.4% (up from 63.7% prior year).
  • Operating loss (Loss from operations): $(13.7) million for Q2 2026.
  • Net loss: $(12.9) million for Q2 2026; EPS: $(0.05).
  • Adjusted EBITDA loss: $(1.4) million for Q2 2026 (improved from $(6.2) million in prior-year quarter); adjusted EPS: $(0.01).

Business Highlights

  • Butterfly Embedded: Added two new Embedded partners (totaling 11) with Midjourney and Aleph Neuro unveiling applications built on the Ultrasound-on-Chip platform.
  • Compass AI and enterprise momentum: Signed six new enterprise software agreements and materially expanded the Compass AI software pipeline year over year.
  • FedRAMP progress: Received provisional authorization to sell across the U.S. Department of Veterans Affairs and remains on track for FedRAMP certification in Q3 2026.
  • Medical education and Butterfly Garden: Closed four additional medical education partners, entered a strategic partnership with VCOM, and added a new Butterfly Garden partner focused on precision needle-guidance AI with three partner tools expected commercially by year-end.
  • Home & Community Care and international expansion: Prepared for first commercial implementation in H2 2026 with revenue expected in Q4, and received regulatory authorization in Brazil to support expansion into a major market.

Original SEC Filing:

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