Ultrasound device maker Butterfly Network Q3 revenue beats on Embedded partnerships
BFLY•Butterfly Network’s third-quarter revenue rose 52% year over year to $32.6 million, beating the $29.09 million estimate, while adjusted loss per share was $0.01 versus an expected $0.06. The company raised its 2026 revenue outlook to $123 million-$126 million.
1. Quarterly results
Butterfly Network reported third-quarter revenue of $32.6 million, up 52% year over year and above the $29.09 million analyst consensus. Its adjusted loss was $0.01 per share, compared with the expected $0.06, and net loss was $12.8 million. Adjusted EBITDA was a loss of $1.2 million.
2. Revenue and margin drivers
The company said higher U.S. revenue was driven by Embedded partnerships and increased probe sales. Gross margin reached a record 73%, which Butterfly attributed to higher-margin Embedded licensing revenue and increased probe sales. Lower international revenue reflected decreased probe sales to global health partners.
3. Updated outlook
Butterfly raised its 2026 revenue guidance to $123 million-$126 million and expects an adjusted EBITDA loss of $12 million-$15 million for the year. It forecast fourth-quarter revenue of $31 million-$34 million.
