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Side-by-side financial comparison of Bank First Corp (BFC) and Butterfly Network, Inc. (BFLY). Click either name above to swap in a different company.
Bank First Corp is the larger business by last-quarter revenue ($44.9M vs $26.5M, roughly 1.7× Butterfly Network, Inc.). Bank First Corp runs the higher net margin — 45.8% vs -47.8%, a 93.6% gap on every dollar of revenue. On growth, Butterfly Network, Inc. posted the faster year-over-year revenue change (25.0% vs 12.1%). Over the past eight quarters, Butterfly Network, Inc.'s revenue compounded faster (11.1% CAGR vs 9.1%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
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.
BFC vs BFLY — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $26.5M |
| Net Profit | $18.4M | $-12.7M |
| Gross Margin | — | 68.9% |
| Operating Margin | 51.0% | -21.2% |
| Net Margin | 45.8% | -47.8% |
| Revenue YoY | 12.1% | 25.0% |
| Net Profit YoY | 4.8% | — |
| EPS (diluted) | $1.87 | $-0.05 |
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 | — | $26.5M | ||
| Q4 25 | $44.9M | $31.5M | ||
| Q3 25 | $44.2M | $21.5M | ||
| Q2 25 | $41.6M | $23.4M | ||
| Q1 25 | $43.1M | $21.2M | ||
| Q4 24 | $40.1M | $22.4M | ||
| Q3 24 | $40.8M | $20.6M | ||
| Q2 24 | $38.9M | $21.5M |
| Q1 26 | — | $-12.7M | ||
| Q4 25 | $18.4M | $-15.3M | ||
| Q3 25 | $18.0M | $-34.0M | ||
| Q2 25 | $16.9M | $-13.8M | ||
| Q1 25 | $18.2M | $-14.0M | ||
| Q4 24 | $17.5M | $-18.1M | ||
| Q3 24 | $16.6M | $-16.9M | ||
| Q2 24 | $16.1M | $-15.7M |
| Q1 26 | — | 68.9% | ||
| Q4 25 | — | 67.3% | ||
| Q3 25 | — | -17.5% | ||
| Q2 25 | — | 63.7% | ||
| Q1 25 | — | 63.0% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 59.5% | ||
| Q2 24 | — | 58.6% |
| Q1 26 | — | -21.2% | ||
| Q4 25 | 51.0% | -53.0% | ||
| Q3 25 | 50.8% | -163.5% | ||
| Q2 25 | 49.7% | -68.9% | ||
| Q1 25 | 51.3% | -87.0% | ||
| Q4 24 | 54.4% | -77.5% | ||
| Q3 24 | 50.7% | -83.9% | ||
| Q2 24 | 51.0% | -80.2% |
| Q1 26 | — | -47.8% | ||
| Q4 25 | 45.8% | -48.5% | ||
| Q3 25 | 40.7% | -158.1% | ||
| Q2 25 | 40.5% | -59.2% | ||
| Q1 25 | 42.3% | -65.8% | ||
| Q4 24 | 49.3% | -81.0% | ||
| Q3 24 | 40.6% | -82.3% | ||
| Q2 24 | 41.3% | -73.1% |
| Q1 26 | — | $-0.05 | ||
| Q4 25 | $1.87 | $-0.06 | ||
| Q3 25 | $1.83 | $-0.13 | ||
| Q2 25 | $1.71 | $-0.06 | ||
| Q1 25 | $1.82 | $-0.06 | ||
| Q4 24 | $1.75 | $-0.09 | ||
| Q3 24 | $1.65 | $-0.08 | ||
| Q2 24 | $1.59 | $-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 | $243.2M | $138.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $643.8M | $191.2M |
| Total Assets | $4.5B | $285.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $138.0M | ||
| Q4 25 | $243.2M | $150.5M | ||
| Q3 25 | $126.2M | $144.2M | ||
| Q2 25 | $120.3M | $148.1M | ||
| Q1 25 | $300.9M | $155.2M | ||
| Q4 24 | $261.3M | $88.8M | ||
| Q3 24 | $204.4M | $93.8M | ||
| Q2 24 | $99.0M | $102.1M |
| Q1 26 | — | $191.2M | ||
| Q4 25 | $643.8M | $196.0M | ||
| Q3 25 | $628.1M | $203.8M | ||
| Q2 25 | $612.3M | $232.8M | ||
| Q1 25 | $648.4M | $239.7M | ||
| Q4 24 | $639.7M | $168.8M | ||
| Q3 24 | $628.9M | $181.8M | ||
| Q2 24 | $614.6M | $194.3M |
| Q1 26 | — | $285.9M | ||
| Q4 25 | $4.5B | $296.5M | ||
| Q3 25 | $4.4B | $290.0M | ||
| Q2 25 | $4.4B | $313.3M | ||
| Q1 25 | $4.5B | $318.4M | ||
| Q4 24 | $4.5B | $256.1M | ||
| Q3 24 | $4.3B | $265.3M | ||
| Q2 24 | $4.1B | $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 | $62.5M | $-13.9M |
| Free Cash FlowOCF − Capex | $51.0M | — |
| FCF MarginFCF / Revenue | 113.6% | — |
| Capex IntensityCapex / Revenue | 25.5% | — |
| Cash ConversionOCF / Net Profit | 3.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-13.9M | ||
| Q4 25 | $62.5M | $9.0M | ||
| Q3 25 | $15.5M | $-2.9M | ||
| Q2 25 | $11.9M | $-7.2M | ||
| Q1 25 | $6.2M | $-11.7M | ||
| Q4 24 | $65.8M | $-3.1M | ||
| Q3 24 | $18.8M | $-7.9M | ||
| Q2 24 | $14.9M | $-10.0M |
| Q1 26 | — | — | ||
| Q4 25 | $51.0M | $7.9M | ||
| Q3 25 | $12.5M | $-3.9M | ||
| Q2 25 | $8.2M | $-8.1M | ||
| Q1 25 | $4.0M | $-12.0M | ||
| Q4 24 | $58.6M | $-3.5M | ||
| Q3 24 | $16.9M | $-8.3M | ||
| Q2 24 | $13.7M | $-10.7M |
| Q1 26 | — | — | ||
| Q4 25 | 113.6% | 25.2% | ||
| Q3 25 | 28.2% | -18.2% | ||
| Q2 25 | 19.8% | -34.5% | ||
| Q1 25 | 9.3% | -56.7% | ||
| Q4 24 | 146.3% | -15.8% | ||
| Q3 24 | 41.5% | -40.5% | ||
| Q2 24 | 35.3% | -50.0% |
| Q1 26 | — | — | ||
| Q4 25 | 25.5% | 3.4% | ||
| Q3 25 | 6.7% | 4.7% | ||
| Q2 25 | 8.7% | 3.8% | ||
| Q1 25 | 5.0% | 1.7% | ||
| Q4 24 | 18.0% | 1.8% | ||
| Q3 24 | 4.5% | 2.0% | ||
| Q2 24 | 3.1% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.40× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 3.75× | — | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 0.93× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFC
Segment breakdown not available.
BFLY
| Product | $14.7M | 55% |
| Software and other services | $11.9M | 45% |
