EarningsQ2 2026 Earnings Report
MX:BFLY Q2 2026 EPS Results
Actual EPS-$0.17
Consensus EPS-$0.60
Beat/MissBeat by +$0.43
One Year Ago EPS-$0.52
MX:BFLY Q2 2026 Revenue Results
Actual Revenue$562.16M
Expected Revenue$502.65M
Beat/MissBeat by +$59.50M
YoY Revenue Growth+39.47%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:BFLY Upcoming Earnings
Butterfly Network's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:BFLY Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: the company reported record revenue, record gross profit, materially improved adjusted EBITDA loss, and strong Embedded momentum (439% YoY) that materially contributed to top-line growth. Product and semiconductor roadmaps (Apollo chip, P5.1 probe) and commercialization milestones (VA/FedRAMP progress, Brazil authorization, VCOM education deal, Home & Community Care launch) add substantive forward-looking upside. Key risks include international softness this quarter, a 12% ASP decline driven by subsidized education deals, continued negative adjusted EBITDA for the year, and timing variability in milestone-based Embedded revenue. On balance, the highlights and evidence of accelerating platform growth and margin expansion outweigh the listed challenges and volatility.Company Guidance
Record Quarterly Revenue and Strong Growth
Q2 revenue of $32.6M, a record for the company, up 39% year-over-year. Company raised full-year guidance to $119M–$123M (up ~22%–26% vs 2025). Q3 revenue guide of $26M–$30M (~30% YoY at midpoint).
Explosive Embedded Business Expansion
Butterfly Embedded revenue of $10.8M in Q2, up 439% YoY, driven primarily by the Midjourney partnership. Company now has 11 Embedded partners (added 2 in Q2), and management expects Embedded cadence near ~$7M–$8M/quarter with upside as partners commercialize. Large Midjourney-related contract structure includes upfront and ongoing license components and milestone-based recognition.
Record Gross Profit and Margin Expansion
Gross profit of $23.3M in Q2, up 56% YoY. Gross margin increased to 71% from 64% a year ago, a ~7.7 percentage-point improvement, helped by higher-margin Embedded revenue mix.
Material Improvement in Adjusted EBITDA Loss
Adjusted EBITDA loss narrowed to $1.4M in Q2 versus a $6.2M loss in Q2 2025, an improvement of ~78%, reflecting higher-margin revenue and continued cost discipline. Full-year adjusted EBITDA loss guidance narrowed to a range of $19M–$23M.
POCUS/Core Business Momentum and Strategic Deals
Core POCUS revenue of $21.9M (up 2% YoY) with U.S. revenue $27.6M (+57% YoY). Probe unit sales rose 23% YoY. Signed six enterprise Compass AI deals and a multi-year VCOM medical-education partnership with potential TCV >$10M (4 years). Compass AI pipeline increased 5x since last year.
Product and Technology Roadmap Progress
Apollo semiconductor roadmap advancing; primary design complete and on schedule to deliver Apollo chips to Midjourney by end of 2027/early 2028. Next-generation P5.1 probe prototype images strong with planned launch in Q1 2027 (first CMUT probe to deliver harmonic imaging). iQ Station cart product targeted later in 2027.
Commercialization & Regulatory Wins
Provisional authorization to sell to full VA (full FedRAMP certification expected in Q3) and regulatory authorization achieved in Brazil, opening a large Latin American market. Home & Community Care commercial launch planned for Oct 1, 2026 (revenue expected in Q4).
MX:BFLY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed