What are Butterfly Network's profit margins?

Butterfly Network (BFLY) runs a 49.2% gross margin and a -79.5% operating margin, with a -73.6% net margin.

Where do Butterfly Network's ratios come from?

Every ratio is computed from Butterfly Network's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Butterfly Network BFLY Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	49.2%-11.4pp	46.9%-12.7pp	43.2%—	62%—	60.7%—
Operating margin	-79.5%+2.6pp	-88.5%+2.2pp	-98.4%+37.8pp	-79%+88.6pp	-82.1%+114pp
Net margin	-73.6%+1.9pp	-79%+9.4pp	-90.3%+38.9pp	-71.8%+81.5pp	-75.6%+104pp
Returns
Return on equity	-35.2%-6.0pp	-42.2%-5.0pp	-41.4%+3.4pp	-29.4%+16.7pp	-29.2%+19.6pp
Return on assets	-25.1%-3.6pp	-27.9%-2.0pp	-28.8%+4.1pp	-21.4%+12.7pp	-21.5%+15.1pp
Return on invested capital	-95.3%-29.7pp	-107.5%-35.0pp	-94.6%-8.1pp	-64.5%+29.3pp	-65.5%+42.9pp
Efficiency
Asset turnover	0.3×+0.1×	0.4×+0.1×	0.3×+0.1×	0.3×+0.1×	0.3×+0.1×
Inventory turnover	0.8×+0.3×	0.8×+0.3×	0.7×+0.1×	0.5×-0.2×	0.5×-0.2×
Liquidity
Current ratio	4×-2.0×	3.8×-0.2×	4.8×+0.1×	5.7×+0.7×	6.1×+0.9×
Quick ratio	3×-1.4×	2.9×+0.4×	3.6×+0.6×	4.1×+0.9×	4.4×+1.1×
Cash ratio	2.4×-1.4×	2.4×+0.4×	2.9×+0.7×	3.4×+0.8×	3.7×+0.9×
Leverage
Debt-to-equity	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Interest coverage	-57.5×-3.8×	-58×+1.0×	-60.7×+51.2×	-50.6×+145×	-53.7×+390×
Per Share
Book value per share	$0.75-26.9%	$0.79-0.6%	$0.81-5.4%	$0.94+2.1%	$1.02+4.5%
Valuation
Market capitalization	$1.03B+85.7%	$959.89M+44.4%	$485.86M+29.1%	$497.05M+181%	$553.86M+146%
Enterprise value	$906.5M+117%	$825.78M+38.8%	$358.64M+18.8%	$366.55M+286%	$416.89M+215%
Price / sales	10×+3.5×	9.8×+1.7×	5.5×+0.6×	5.7×+3.2×	6.5×+3.2×
Price / book	5.4×+3.1×	4.9×+1.0×	2.4×+0.3×	2.1×+1.2×	2.3×+1.2×
EV / sales	8.8×+3.9×	8.5×+1.2×	4.1×+0.1×	4.2×+2.9×	4.9×+2.9×
Earnings yield	-7.4%+4.3pp	-8%+2.9pp	-16.4%+9.7pp	-12.6%+48.9pp	-11.7%+42.6pp

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Questions, answered.

What are Butterfly Network's profit margins?: Butterfly Network (BFLY) runs a 49.2% gross margin and a -79.5% operating margin, with a -73.6% net margin.
Where do Butterfly Network's ratios come from?: Every ratio is computed from Butterfly Network's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.