Butterfly Network Q2 Revenue Rises 9% to $23.4 Million, Gross Margin Hits Record 63.7%

Butterfly Network reported a record gross margin of 63.7% and improved adjusted EBITDA loss in Q2 2025, driven by higher average selling prices and operational discipline. Revenue (GAAP) increased 9% YoY to $23.4 million, but slightly missed analyst expectations. Cash and cash equivalents rose to $148.1 million as of Q2 2025, supported by a recent capital raise and reduced cash burn. Management revised full-year revenue guidance lower, projecting $91 million to $95 million for FY2025.