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Side-by-side financial comparison of Beta Bionics, Inc. (BBNX) and Butterfly Network, Inc. (BFLY). Click either name above to swap in a different company.
Butterfly Network, Inc. is the larger business by last-quarter revenue ($31.5M vs $27.6M, roughly 1.1× Beta Bionics, Inc.). Butterfly Network, Inc. runs the higher net margin — -48.5% vs -79.3%, a 30.7% gap on every dollar of revenue. On growth, Beta Bionics, Inc. posted the faster year-over-year revenue change (56.6% vs 41.0%).
Beta Bionics, Inc. is a medical technology company focused on developing and commercializing advanced automated diabetes management solutions. Its core product is the iLet Bionic Pancreas, a wearable device that automatically adjusts insulin and glucagon delivery for people with Type 1 and Type 2 diabetes, serving primarily the U.S. healthcare market with plans for global expansion.
Butterfly Network, Inc. is a digital health company that develops, manufactures and sells affordable, portable whole-body ultrasound devices powered by proprietary semiconductor technology. It serves clinical professionals, healthcare facilities, and home care users across global markets, with a core mission to expand access to medical imaging for underserved communities.
BBNX vs BFLY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $27.6M | $31.5M |
| Net Profit | $-21.9M | $-15.3M |
| Gross Margin | 59.5% | 67.3% |
| Operating Margin | — | -53.0% |
| Net Margin | -79.3% | -48.5% |
| Revenue YoY | 56.6% | 41.0% |
| Net Profit YoY | 23.6% | 15.5% |
| EPS (diluted) | $-0.49 | $-0.06 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $27.6M | — | ||
| Q4 25 | $32.1M | $31.5M | ||
| Q3 25 | $27.3M | $21.5M | ||
| Q2 25 | $23.2M | $23.4M | ||
| Q1 25 | $17.6M | $21.2M | ||
| Q4 24 | — | $22.4M | ||
| Q3 24 | — | $20.6M | ||
| Q2 24 | — | $21.5M |
| Q1 26 | $-21.9M | — | ||
| Q4 25 | $-13.5M | $-15.3M | ||
| Q3 25 | $-14.2M | $-34.0M | ||
| Q2 25 | $-16.9M | $-13.8M | ||
| Q1 25 | $-28.7M | $-14.0M | ||
| Q4 24 | — | $-18.1M | ||
| Q3 24 | — | $-16.9M | ||
| Q2 24 | — | $-15.7M |
| Q1 26 | 59.5% | — | ||
| Q4 25 | 59.0% | 67.3% | ||
| Q3 25 | 55.5% | -17.5% | ||
| Q2 25 | 53.8% | 63.7% | ||
| Q1 25 | 50.9% | 63.0% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 59.5% | ||
| Q2 24 | — | 58.6% |
| Q1 26 | — | — | ||
| Q4 25 | -50.2% | -53.0% | ||
| Q3 25 | -62.5% | -163.5% | ||
| Q2 25 | -85.5% | -68.9% | ||
| Q1 25 | -105.7% | -87.0% | ||
| Q4 24 | — | -77.5% | ||
| Q3 24 | — | -83.9% | ||
| Q2 24 | — | -80.2% |
| Q1 26 | -79.3% | — | ||
| Q4 25 | -41.9% | -48.5% | ||
| Q3 25 | -52.1% | -158.1% | ||
| Q2 25 | -72.6% | -59.2% | ||
| Q1 25 | -162.5% | -65.8% | ||
| Q4 24 | — | -81.0% | ||
| Q3 24 | — | -82.3% | ||
| Q2 24 | — | -73.1% |
| Q1 26 | $-0.49 | — | ||
| Q4 25 | $-0.16 | $-0.06 | ||
| Q3 25 | $-0.33 | $-0.13 | ||
| Q2 25 | $-0.39 | $-0.06 | ||
| Q1 25 | $-0.93 | $-0.06 | ||
| Q4 24 | — | $-0.09 | ||
| Q3 24 | — | $-0.08 | ||
| Q2 24 | — | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $199.5M | $150.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $271.2M | $196.0M |
| Total Assets | $304.4M | $296.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $199.5M | — | ||
| Q4 25 | $219.1M | $150.5M | ||
| Q3 25 | $228.7M | $144.2M | ||
| Q2 25 | $249.7M | $148.1M | ||
| Q1 25 | $231.5M | $155.2M | ||
| Q4 24 | — | $88.8M | ||
| Q3 24 | — | $93.8M | ||
| Q2 24 | — | $102.1M |
| Q1 26 | $271.2M | — | ||
| Q4 25 | $287.6M | $196.0M | ||
| Q3 25 | $294.8M | $203.8M | ||
| Q2 25 | $301.6M | $232.8M | ||
| Q1 25 | $313.8M | $239.7M | ||
| Q4 24 | — | $168.8M | ||
| Q3 24 | — | $181.8M | ||
| Q2 24 | — | $194.3M |
| Q1 26 | $304.4M | — | ||
| Q4 25 | $328.7M | $296.5M | ||
| Q3 25 | $330.0M | $290.0M | ||
| Q2 25 | $330.0M | $313.3M | ||
| Q1 25 | $338.0M | $318.4M | ||
| Q4 24 | — | $256.1M | ||
| Q3 24 | — | $265.3M | ||
| Q2 24 | — | $273.1M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $9.0M |
| Free Cash FlowOCF − Capex | — | $7.9M |
| FCF MarginFCF / Revenue | — | 25.2% |
| Capex IntensityCapex / Revenue | — | 3.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-8.6M | $9.0M | ||
| Q3 25 | $-8.7M | $-2.9M | ||
| Q2 25 | $-13.6M | $-7.2M | ||
| Q1 25 | $-20.0M | $-11.7M | ||
| Q4 24 | — | $-3.1M | ||
| Q3 24 | — | $-7.9M | ||
| Q2 24 | — | $-10.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.5M | $7.9M | ||
| Q3 25 | $-10.0M | $-3.9M | ||
| Q2 25 | $-15.4M | $-8.1M | ||
| Q1 25 | $-20.3M | $-12.0M | ||
| Q4 24 | — | $-3.5M | ||
| Q3 24 | — | $-8.3M | ||
| Q2 24 | — | $-10.7M |
| Q1 26 | — | — | ||
| Q4 25 | -32.8% | 25.2% | ||
| Q3 25 | -36.7% | -18.2% | ||
| Q2 25 | -66.2% | -34.5% | ||
| Q1 25 | -115.1% | -56.7% | ||
| Q4 24 | — | -15.8% | ||
| Q3 24 | — | -40.5% | ||
| Q2 24 | — | -50.0% |
| Q1 26 | — | — | ||
| Q4 25 | 5.9% | 3.4% | ||
| Q3 25 | 4.7% | 4.7% | ||
| Q2 25 | 7.7% | 3.8% | ||
| Q1 25 | 1.9% | 1.7% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 3.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BBNX
Segment breakdown not available.
BFLY
| Products | $18.1M | 57% |
| Software And Other Services | $13.4M | 43% |
