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Side-by-side financial comparison of Butterfly Network, Inc. (BFLY) and DYNEX CAPITAL INC (DX). Click either name above to swap in a different company.
DYNEX CAPITAL INC is the larger business by last-quarter revenue ($43.5M vs $26.5M, roughly 1.6× Butterfly Network, Inc.). On growth, DYNEX CAPITAL INC posted the faster year-over-year revenue change (531.3% vs 25.0%). Over the past eight quarters, DYNEX CAPITAL INC's revenue compounded faster (75.8% CAGR vs 11.1%).
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.
Dynex Capital Inc. is a publicly traded real estate investment trust headquartered in the United States. It specializes in investing in and managing a diversified portfolio of mortgage-backed securities, residential and commercial mortgage loans, and other mortgage-related assets. It delivers consistent returns to shareholders via regular dividends and long-term capital growth.
BFLY vs DX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.5M | $43.5M |
| Net Profit | $-12.7M | — |
| Gross Margin | 68.9% | — |
| Operating Margin | -21.2% | — |
| Net Margin | -47.8% | — |
| Revenue YoY | 25.0% | 531.3% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.05 | $1.59 |
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 | $31.5M | $43.5M | ||
| Q3 25 | $21.5M | $30.6M | ||
| Q2 25 | $23.4M | $23.1M | ||
| Q1 25 | $21.2M | $17.1M | ||
| Q4 24 | $22.4M | — | ||
| Q3 24 | $20.6M | — | ||
| Q2 24 | $21.5M | — |
| Q1 26 | $-12.7M | — | ||
| Q4 25 | $-15.3M | — | ||
| Q3 25 | $-34.0M | $150.4M | ||
| Q2 25 | $-13.8M | $-13.6M | ||
| Q1 25 | $-14.0M | $-3.1M | ||
| Q4 24 | $-18.1M | — | ||
| Q3 24 | $-16.9M | — | ||
| Q2 24 | $-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 | -53.0% | — | ||
| Q3 25 | -163.5% | — | ||
| Q2 25 | -68.9% | — | ||
| Q1 25 | -87.0% | — | ||
| Q4 24 | -77.5% | — | ||
| Q3 24 | -83.9% | — | ||
| Q2 24 | -80.2% | — |
| Q1 26 | -47.8% | — | ||
| Q4 25 | -48.5% | — | ||
| Q3 25 | -158.1% | 491.3% | ||
| Q2 25 | -59.2% | -58.8% | ||
| Q1 25 | -65.8% | -18.0% | ||
| Q4 24 | -81.0% | — | ||
| Q3 24 | -82.3% | — | ||
| Q2 24 | -73.1% | — |
| Q1 26 | $-0.05 | — | ||
| Q4 25 | $-0.06 | $1.59 | ||
| Q3 25 | $-0.13 | $1.08 | ||
| Q2 25 | $-0.06 | $-0.14 | ||
| Q1 25 | $-0.06 | $-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 | $138.0M | $531.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $191.2M | $2.5B |
| Total Assets | $285.9M | $17.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $138.0M | — | ||
| Q4 25 | $150.5M | $531.0M | ||
| Q3 25 | $144.2M | $491.0M | ||
| Q2 25 | $148.1M | $387.5M | ||
| Q1 25 | $155.2M | $327.4M | ||
| Q4 24 | $88.8M | — | ||
| Q3 24 | $93.8M | — | ||
| Q2 24 | $102.1M | — |
| Q1 26 | $191.2M | — | ||
| Q4 25 | $196.0M | $2.5B | ||
| Q3 25 | $203.8M | $2.0B | ||
| Q2 25 | $232.8M | $1.6B | ||
| Q1 25 | $239.7M | $1.4B | ||
| Q4 24 | $168.8M | — | ||
| Q3 24 | $181.8M | — | ||
| Q2 24 | $194.3M | — |
| Q1 26 | $285.9M | — | ||
| Q4 25 | $296.5M | $17.3B | ||
| Q3 25 | $290.0M | $14.2B | ||
| Q2 25 | $313.3M | $11.3B | ||
| Q1 25 | $318.4M | $9.0B | ||
| 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 | $-13.9M | $120.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-13.9M | — | ||
| Q4 25 | $9.0M | $120.8M | ||
| Q3 25 | $-2.9M | $68.3M | ||
| Q2 25 | $-7.2M | $31.9M | ||
| Q1 25 | $-11.7M | $6.4M | ||
| Q4 24 | $-3.1M | — | ||
| Q3 24 | $-7.9M | — | ||
| Q2 24 | $-10.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $7.9M | — | ||
| Q3 25 | $-3.9M | — | ||
| Q2 25 | $-8.1M | — | ||
| Q1 25 | $-12.0M | — | ||
| Q4 24 | $-3.5M | — | ||
| Q3 24 | $-8.3M | — | ||
| Q2 24 | $-10.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | 25.2% | — | ||
| Q3 25 | -18.2% | — | ||
| Q2 25 | -34.5% | — | ||
| Q1 25 | -56.7% | — | ||
| Q4 24 | -15.8% | — | ||
| Q3 24 | -40.5% | — | ||
| Q2 24 | -50.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | 3.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFLY
| Product | $14.7M | 55% |
| Software and other services | $11.9M | 45% |
DX
Segment breakdown not available.
