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Side-by-side financial comparison of Butterfly Network, Inc. (BFLY) and FGI Industries Ltd. (FGI). Click either name above to swap in a different company.
FGI Industries Ltd. is the larger business by last-quarter revenue ($30.5M vs $26.5M, roughly 1.1× Butterfly Network, Inc.). FGI Industries Ltd. runs the higher net margin — -8.6% vs -47.8%, a 39.2% gap on every dollar of revenue. On growth, Butterfly Network, Inc. posted the faster year-over-year revenue change (25.0% vs -14.4%). Over the past eight quarters, Butterfly Network, Inc.'s revenue compounded faster (11.1% CAGR vs -0.5%).
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.
FGI Industries Ltd is a global designer, manufacturer and distributor of kitchen and bath products, home organization solutions, and home improvement goods. It serves major retail chains, home specialty stores and e-commerce platforms across North America, Europe and the Asia-Pacific region.
BFLY vs FGI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.5M | $30.5M |
| Net Profit | $-12.7M | $-2.6M |
| Gross Margin | 68.9% | 26.7% |
| Operating Margin | -21.2% | -2.2% |
| Net Margin | -47.8% | -8.6% |
| Revenue YoY | 25.0% | -14.4% |
| Net Profit YoY | — | -553.1% |
| EPS (diluted) | $-0.05 | $-1.63 |
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 | $30.5M | ||
| Q3 25 | $21.5M | $35.8M | ||
| Q2 25 | $23.4M | $31.0M | ||
| Q1 25 | $21.2M | $33.2M | ||
| Q4 24 | $22.4M | $35.6M | ||
| Q3 24 | $20.6M | $36.1M | ||
| Q2 24 | $21.5M | $29.4M |
| Q1 26 | $-12.7M | — | ||
| Q4 25 | $-15.3M | $-2.6M | ||
| Q3 25 | $-34.0M | $-1.7M | ||
| Q2 25 | $-13.8M | $-1.2M | ||
| Q1 25 | $-14.0M | $-629.1K | ||
| Q4 24 | $-18.1M | $-402.3K | ||
| Q3 24 | $-16.9M | $-550.1K | ||
| Q2 24 | $-15.7M | $163.6K |
| Q1 26 | 68.9% | — | ||
| Q4 25 | 67.3% | 26.7% | ||
| Q3 25 | -17.5% | 26.5% | ||
| Q2 25 | 63.7% | 28.1% | ||
| Q1 25 | 63.0% | 26.8% | ||
| Q4 24 | 61.5% | 24.6% | ||
| Q3 24 | 59.5% | 25.8% | ||
| Q2 24 | 58.6% | 30.5% |
| Q1 26 | -21.2% | — | ||
| Q4 25 | -53.0% | -2.2% | ||
| Q3 25 | -163.5% | 1.0% | ||
| Q2 25 | -68.9% | -2.7% | ||
| Q1 25 | -87.0% | -3.9% | ||
| Q4 24 | -77.5% | -3.5% | ||
| Q3 24 | -83.9% | -0.2% | ||
| Q2 24 | -80.2% | -1.5% |
| Q1 26 | -47.8% | — | ||
| Q4 25 | -48.5% | -8.6% | ||
| Q3 25 | -158.1% | -4.6% | ||
| Q2 25 | -59.2% | -4.0% | ||
| Q1 25 | -65.8% | -1.9% | ||
| Q4 24 | -81.0% | -1.1% | ||
| Q3 24 | -82.3% | -1.5% | ||
| Q2 24 | -73.1% | 0.6% |
| Q1 26 | $-0.05 | — | ||
| Q4 25 | $-0.06 | $-1.63 | ||
| Q3 25 | $-0.13 | $-0.86 | ||
| Q2 25 | $-0.06 | $-0.64 | ||
| Q1 25 | $-0.06 | $-0.07 | ||
| Q4 24 | $-0.09 | $-0.38 | ||
| Q3 24 | $-0.08 | $-0.29 | ||
| Q2 24 | $-0.07 | $0.08 |
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 | $1.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $191.2M | $17.3M |
| Total Assets | $285.9M | $69.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $138.0M | — | ||
| Q4 25 | $150.5M | $1.9M | ||
| Q3 25 | $144.2M | $1.9M | ||
| Q2 25 | $148.1M | $2.5M | ||
| Q1 25 | $155.2M | $1.2M | ||
| Q4 24 | $88.8M | $4.6M | ||
| Q3 24 | $93.8M | $3.0M | ||
| Q2 24 | $102.1M | $1.3M |
| Q1 26 | $191.2M | — | ||
| Q4 25 | $196.0M | $17.3M | ||
| Q3 25 | $203.8M | $19.7M | ||
| Q2 25 | $232.8M | $21.3M | ||
| Q1 25 | $239.7M | $21.8M | ||
| Q4 24 | $168.8M | $22.3M | ||
| Q3 24 | $181.8M | $23.5M | ||
| Q2 24 | $194.3M | $23.8M |
| Q1 26 | $285.9M | — | ||
| Q4 25 | $296.5M | $69.5M | ||
| Q3 25 | $290.0M | $73.0M | ||
| Q2 25 | $313.3M | $71.7M | ||
| Q1 25 | $318.4M | $68.5M | ||
| Q4 24 | $256.1M | $75.5M | ||
| Q3 24 | $265.3M | $74.7M | ||
| Q2 24 | $273.1M | $69.9M |
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 | $2.3M |
| Free Cash FlowOCF − Capex | — | $2.3M |
| FCF MarginFCF / Revenue | — | 7.5% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-212.5K |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-13.9M | — | ||
| Q4 25 | $9.0M | $2.3M | ||
| Q3 25 | $-2.9M | $-1.9M | ||
| Q2 25 | $-7.2M | $7.6M | ||
| Q1 25 | $-11.7M | $-7.4M | ||
| Q4 24 | $-3.1M | $617.4K | ||
| Q3 24 | $-7.9M | $-915.0K | ||
| Q2 24 | $-10.0M | $862.1K |
| Q1 26 | — | — | ||
| Q4 25 | $7.9M | $2.3M | ||
| Q3 25 | $-3.9M | $-2.1M | ||
| Q2 25 | $-8.1M | $7.4M | ||
| Q1 25 | $-12.0M | $-7.7M | ||
| Q4 24 | $-3.5M | $-214.1K | ||
| Q3 24 | $-8.3M | $-1.1M | ||
| Q2 24 | $-10.7M | $281.5K |
| Q1 26 | — | — | ||
| Q4 25 | 25.2% | 7.5% | ||
| Q3 25 | -18.2% | -5.9% | ||
| Q2 25 | -34.5% | 23.8% | ||
| Q1 25 | -56.7% | -23.3% | ||
| Q4 24 | -15.8% | -0.6% | ||
| Q3 24 | -40.5% | -3.0% | ||
| Q2 24 | -50.0% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 0.2% | ||
| Q3 25 | 4.7% | 0.7% | ||
| Q2 25 | 3.8% | 0.7% | ||
| Q1 25 | 1.7% | 1.1% | ||
| Q4 24 | 1.8% | 2.3% | ||
| Q3 24 | 2.0% | 0.5% | ||
| Q2 24 | 3.4% | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 5.27× |
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% |
FGI
| Sanitaryware | $19.1M | 63% |
| Shower System | $5.8M | 19% |
| Kitchen And Bath Other | $3.3M | 11% |
| Bath Furniture Products | $2.3M | 7% |
