Butterfly Network(US:BFLY)2025-10-31 11:30Revenue Performance - Total revenue for Q3 2025 was $21.5 million, representing a 5% increase from $20.6 million in Q3 2024[4] - U.S. revenue was $16.1 million, while international revenue increased by 4% year-over-year to $5.4 million[4] - Total revenue for Q3 2025 was $21.489 million, a 4.5% increase from $20.561 million in Q3 2024[25] - Product revenue increased to $14.556 million in Q3 2025, up 7.5% from $13.538 million in Q3 2024[25] - The company reaffirmed its full-year revenue guidance of $91 million to $95 million, indicating approximately 13% growth[16] Profitability and Loss - Gross loss was $3.8 million, compared to a gross profit of $12.2 million in the prior year period, with total GAAP gross margin at (17.5)%[5] - Adjusted gross profit was $13.7 million, with adjusted gross margin increasing to 63.9% from 60.0% in the prior year[5] - Gross loss for Q3 2025 was $(3.757) million, compared to a gross profit of $12.233 million in Q3 2024, resulting in a gross margin of (17.5%) versus 59.5%[31] - Net loss for the quarter was $34.0 million, compared to $16.9 million in the prior year[9] - Net loss for Q3 2025 was $(33.971) million, compared to a net loss of $(16.924) million in Q3 2024, resulting in a net loss per share of $(0.13) versus $(0.08)[25] - Adjusted net loss for the nine months ended September 30, 2025, was $26.171 million, an improvement from a loss of $34.552 million in 2024[33] - Adjusted EBITDA loss was $8.1 million, an improvement from $8.4 million in the prior year[10] - Adjusted EBITDA for the three months ended September 30, 2025, was $(8.079) million, compared to $(8.445) million in 2024[33] Operating Expenses - Operating expenses were $31.4 million, up 6% from $29.5 million in the prior year[8] - Operating expenses rose to $31.377 million in Q3 2025, up from $29.479 million in Q3 2024, with R&D expenses at $8.703 million[25] - Stock-based compensation increased to $4.925 million in Q3 2025 from $4.411 million in Q3 2024[33] Cash and Assets - Cash and cash equivalents stood at $144.2 million as of September 30, 2025[12] - Cash and cash equivalents increased to $144.233 million as of September 30, 2025, compared to $88.775 million at December 31, 2024[27] - Total assets as of September 30, 2025, were $290.002 million, up from $256.082 million at December 31, 2024[27] Inventory and Write-downs - The company reported a write-down of inventories of $7.931 million for the nine months ended September 30, 2025[29] - Write-downs and write-offs of inventories and vendor advances were $17.486 million in Q3 2025, significantly higher than $97,000 in Q3 2024[33] Other Financial Metrics - Interest income for the nine months ended September 30, 2025, was $4.598 million, up from $4.023 million in 2024[33] - Depreciation and amortization expenses for the nine months ended September 30, 2025, were $6.327 million, down from $7.835 million in 2024[33] - Other income (expense), net for the nine months ended September 30, 2025, was $(2.824) million, compared to $(517,000) in 2024[33] Product Development - New product developments include the P5.1 chip moving to production and the Apollo AI chip initiating development[2]