---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-017431"
form_type: "8-K"
ticker: "BFLY"
cik: "0001804176"
company_name: "Butterfly Network, Inc."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T00:49:05.937981+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Butterfly Network Q3 revenue falls 21% to $15.4M; narrows adjusted EBITDA loss guidance

## Summary
- Revenue $15.4M vs $19.6M YoY; product revenue down 34% to $8.8M.
- Gross margin improved to 60.8% from 56.0% on higher ASP and mix shift to software.
- Net loss improved to $27.4M from $54.7M; adj. EBITDA loss $12.5M vs $31.8M.
- Announced 5-year co-development with Forest Neurotech (up to $20M) and launched Butterfly Garden AI marketplace.
- FY2023 guidance: revenue at least $64M; adj. EBITDA loss narrowed to $75-70M.

## SEC filing metadata
- accession: 0001558370-23-017431
- form_type: 8-K
- ticker: BFLY
- cik: 0001804176
- company_name: Butterfly Network, Inc.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1804176/000155837023017431/0001558370-23-017431-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1804176/000155837023017431/bfly-20231102x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-017431
- JSON: https://secwatch.observer/filing/0001558370-23-017431.json
- Plain text: https://secwatch.observer/filing/0001558370-23-017431.txt

## Key facts
- Earnings Releases
  Butterfly Network, Inc. reported the quarter ended September 30, 2023 results: revenue $15.4 million, net income $27.4 million.
  - Period: the quarter ended September 30, 2023
  - Revenue: $15.4 million
  - Net income: $27.4 million
  - Result: reported results
  source text: in its direct sales team while allowing Butterfly to conservatively extend its cash to 2026. Three Months Ended September 30, 2023 Financial Results Revenue : Total revenue was $15.4 million, down from $19.6 million in the third quarter of 2022. U.S. revenue was $10.4 million, down 15% from prior year, driven by lower probe sales largely as a result of a large
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804176/000155837023017431/0001558370-23-017431-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.