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Side-by-side financial comparison of Butterfly Network, Inc. (BFLY) and FREQUENCY ELECTRONICS INC (FEIM). Click either name above to swap in a different company.
Butterfly Network, Inc. is the larger business by last-quarter revenue ($31.5M vs $17.1M, roughly 1.8× FREQUENCY ELECTRONICS INC). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs -48.5%, a 59.0% gap on every dollar of revenue. On growth, Butterfly Network, Inc. posted the faster year-over-year revenue change (41.0% vs 8.3%). Butterfly Network, Inc. produced more free cash flow last quarter ($7.9M vs $-1.1M). Over the past eight quarters, Butterfly Network, Inc.'s revenue compounded faster (33.6% CAGR vs 11.8%).
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.
Ultra Electronics Holdings is a British defence and security company. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Cobham, which is itself owned by Advent International.
BFLY vs FEIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $31.5M | $17.1M |
| Net Profit | $-15.3M | $1.8M |
| Gross Margin | 67.3% | 38.2% |
| Operating Margin | -53.0% | 10.0% |
| Net Margin | -48.5% | 10.5% |
| Revenue YoY | 41.0% | 8.3% |
| Net Profit YoY | 15.5% | -32.1% |
| EPS (diluted) | $-0.06 | $0.18 |
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.
| Q4 25 | $31.5M | $17.1M | ||
| Q3 25 | $21.5M | $13.8M | ||
| Q2 25 | $23.4M | $20.0M | ||
| Q1 25 | $21.2M | $18.9M | ||
| Q4 24 | $22.4M | $15.8M | ||
| Q3 24 | $20.6M | $15.1M | ||
| Q2 24 | $21.5M | $15.6M | ||
| Q1 24 | $17.7M | $13.7M |
| Q4 25 | $-15.3M | $1.8M | ||
| Q3 25 | $-34.0M | $634.0K | ||
| Q2 25 | $-13.8M | $3.2M | ||
| Q1 25 | $-14.0M | $15.4M | ||
| Q4 24 | $-18.1M | $2.7M | ||
| Q3 24 | $-16.9M | $2.4M | ||
| Q2 24 | $-15.7M | $2.6M | ||
| Q1 24 | $-21.8M | $130.0K |
| Q4 25 | 67.3% | 38.2% | ||
| Q3 25 | -17.5% | 36.8% | ||
| Q2 25 | 63.7% | 37.5% | ||
| Q1 25 | 63.0% | 43.8% | ||
| Q4 24 | 61.5% | 48.2% | ||
| Q3 24 | 59.5% | 44.4% | ||
| Q2 24 | 58.6% | 40.3% | ||
| Q1 24 | 58.2% | 22.6% |
| Q4 25 | -53.0% | 10.0% | ||
| Q3 25 | -163.5% | 2.6% | ||
| Q2 25 | -68.9% | 16.4% | ||
| Q1 25 | -87.0% | 18.3% | ||
| Q4 24 | -77.5% | 16.5% | ||
| Q3 24 | -83.9% | 15.7% | ||
| Q2 24 | -80.2% | 16.0% | ||
| Q1 24 | -128.1% | -3.4% |
| Q4 25 | -48.5% | 10.5% | ||
| Q3 25 | -158.1% | 4.6% | ||
| Q2 25 | -59.2% | 16.0% | ||
| Q1 25 | -65.8% | 81.4% | ||
| Q4 24 | -81.0% | 16.8% | ||
| Q3 24 | -82.3% | 16.1% | ||
| Q2 24 | -73.1% | 16.9% | ||
| Q1 24 | -123.2% | 0.9% |
| Q4 25 | $-0.06 | $0.18 | ||
| Q3 25 | $-0.13 | $0.07 | ||
| Q2 25 | $-0.06 | $0.33 | ||
| Q1 25 | $-0.06 | $1.60 | ||
| Q4 24 | $-0.09 | $0.28 | ||
| Q3 24 | $-0.08 | $0.25 | ||
| Q2 24 | $-0.07 | $0.28 | ||
| Q1 24 | $-0.10 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $150.5M | $3.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $196.0M | $58.5M |
| Total Assets | $296.5M | $92.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $150.5M | $3.0M | ||
| Q3 25 | $144.2M | $4.5M | ||
| Q2 25 | $148.1M | $4.7M | ||
| Q1 25 | $155.2M | $5.5M | ||
| Q4 24 | $88.8M | $9.7M | ||
| Q3 24 | $93.8M | $16.2M | ||
| Q2 24 | $102.1M | $18.3M | ||
| Q1 24 | $112.7M | $11.7M |
| Q4 25 | $196.0M | $58.5M | ||
| Q3 25 | $203.8M | $56.3M | ||
| Q2 25 | $232.8M | $55.6M | ||
| Q1 25 | $239.7M | $51.8M | ||
| Q4 24 | $168.8M | $36.2M | ||
| Q3 24 | $181.8M | $33.2M | ||
| Q2 24 | $194.3M | $39.8M | ||
| Q1 24 | $204.0M | $36.7M |
| Q4 25 | $296.5M | $92.3M | ||
| Q3 25 | $290.0M | $93.2M | ||
| Q2 25 | $313.3M | $93.7M | ||
| Q1 25 | $318.4M | $86.4M | ||
| Q4 24 | $256.1M | $77.8M | ||
| Q3 24 | $265.3M | $84.3M | ||
| Q2 24 | $273.1M | $83.3M | ||
| Q1 24 | $284.3M | $77.7M |
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 | $-523.0K |
| Free Cash FlowOCF − Capex | $7.9M | $-1.1M |
| FCF MarginFCF / Revenue | 25.2% | -6.6% |
| Capex IntensityCapex / Revenue | 3.4% | 3.6% |
| Cash ConversionOCF / Net Profit | — | -0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0M | $-5.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.0M | $-523.0K | ||
| Q3 25 | $-2.9M | $1.2M | ||
| Q2 25 | $-7.2M | $-155.0K | ||
| Q1 25 | $-11.7M | $-3.6M | ||
| Q4 24 | $-3.1M | $3.8M | ||
| Q3 24 | $-7.9M | $-1.5M | ||
| Q2 24 | $-10.0M | $7.5M | ||
| Q1 24 | $-20.7M | $4.2M |
| Q4 25 | $7.9M | $-1.1M | ||
| Q3 25 | $-3.9M | $385.0K | ||
| Q2 25 | $-8.1M | $-786.0K | ||
| Q1 25 | $-12.0M | $-4.0M | ||
| Q4 24 | $-3.5M | $3.3M | ||
| Q3 24 | $-8.3M | $-1.8M | ||
| Q2 24 | $-10.7M | $6.7M | ||
| Q1 24 | $-21.8M | $3.9M |
| Q4 25 | 25.2% | -6.6% | ||
| Q3 25 | -18.2% | 2.8% | ||
| Q2 25 | -34.5% | -3.9% | ||
| Q1 25 | -56.7% | -20.9% | ||
| Q4 24 | -15.8% | 20.8% | ||
| Q3 24 | -40.5% | -11.8% | ||
| Q2 24 | -50.0% | 42.8% | ||
| Q1 24 | -123.5% | 28.4% |
| Q4 25 | 3.4% | 3.6% | ||
| Q3 25 | 4.7% | 5.6% | ||
| Q2 25 | 3.8% | 3.2% | ||
| Q1 25 | 1.7% | 1.7% | ||
| Q4 24 | 1.8% | 3.3% | ||
| Q3 24 | 2.0% | 2.2% | ||
| Q2 24 | 3.4% | 5.3% | ||
| Q1 24 | 6.4% | 2.3% |
| Q4 25 | — | -0.29× | ||
| Q3 25 | — | 1.83× | ||
| Q2 25 | — | -0.05× | ||
| Q1 25 | — | -0.24× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | -0.60× | ||
| Q2 24 | — | 2.85× | ||
| Q1 24 | — | 32.36× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFLY
| Products | $18.1M | 57% |
| Software And Other Services | $13.4M | 43% |
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
