vs
Side-by-side financial comparison of Butterfly Network, Inc. (BFLY) and LandBridge Co LLC (LB). Click either name above to swap in a different company.
LandBridge Co LLC is the larger business by last-quarter revenue ($51.0M vs $26.5M, roughly 1.9× Butterfly Network, Inc.). LandBridge Co LLC runs the higher net margin — 35.0% vs -47.8%, a 82.8% gap on every dollar of revenue. On growth, Butterfly Network, Inc. posted the faster year-over-year revenue change (25.0% vs 16.0%). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (40.2% 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.
BFLY vs LB — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $26.5M | $51.0M |
| Net Profit | $-12.7M | $17.9M |
| Gross Margin | 68.9% | — |
| Operating Margin | -21.2% | 57.2% |
| Net Margin | -47.8% | 35.0% |
| Revenue YoY | 25.0% | 16.0% |
| Net Profit YoY | — | 15.6% |
| EPS (diluted) | $-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 | $51.0M | ||
| Q4 25 | $31.5M | $56.8M | ||
| Q3 25 | $21.5M | $50.8M | ||
| Q2 25 | $23.4M | $47.5M | ||
| Q1 25 | $21.2M | $44.0M | ||
| Q4 24 | $22.4M | $36.5M | ||
| Q3 24 | $20.6M | $28.5M | ||
| Q2 24 | $21.5M | $26.0M |
| Q1 26 | $-12.7M | $17.9M | ||
| Q4 25 | $-15.3M | $8.1M | ||
| Q3 25 | $-34.0M | $8.1M | ||
| Q2 25 | $-13.8M | $7.5M | ||
| Q1 25 | $-14.0M | $6.5M | ||
| Q4 24 | $-18.1M | $49.3M | ||
| Q3 24 | $-16.9M | $2.7M | ||
| Q2 24 | $-15.7M | $-57.7M |
| 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% | 57.2% | ||
| Q4 25 | -53.0% | 60.0% | ||
| Q3 25 | -163.5% | 60.8% | ||
| Q2 25 | -68.9% | 60.0% | ||
| Q1 25 | -87.0% | 57.0% | ||
| Q4 24 | -77.5% | 49.4% | ||
| Q3 24 | -83.9% | 11.2% | ||
| Q2 24 | -80.2% | -197.4% |
| Q1 26 | -47.8% | 35.0% | ||
| Q4 25 | -48.5% | 14.2% | ||
| Q3 25 | -158.1% | 15.9% | ||
| Q2 25 | -59.2% | 15.8% | ||
| Q1 25 | -65.8% | 14.7% | ||
| Q4 24 | -81.0% | 135.2% | ||
| Q3 24 | -82.3% | 9.3% | ||
| Q2 24 | -73.1% | -222.1% |
| Q1 26 | $-0.05 | — | ||
| Q4 25 | $-0.06 | $0.24 | ||
| Q3 25 | $-0.13 | $0.26 | ||
| Q2 25 | $-0.06 | $0.24 | ||
| Q1 25 | $-0.06 | $0.20 | ||
| Q4 24 | $-0.09 | — | ||
| Q3 24 | $-0.08 | $-0.04 | ||
| 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 | $29.7M |
| Total DebtLower is stronger | — | $433.0K |
| Stockholders' EquityBook value | $191.2M | — |
| Total Assets | $285.9M | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $138.0M | $29.7M | ||
| Q4 25 | $150.5M | $30.7M | ||
| Q3 25 | $144.2M | $28.3M | ||
| Q2 25 | $148.1M | $20.3M | ||
| Q1 25 | $155.2M | $14.9M | ||
| Q4 24 | $88.8M | $37.0M | ||
| Q3 24 | $93.8M | $14.4M | ||
| Q2 24 | $102.1M | $24.6M |
| Q1 26 | — | $433.0K | ||
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $366.1M | ||
| Q2 25 | — | $370.9M | ||
| Q1 25 | — | $375.5M | ||
| Q4 24 | — | $385.5M | ||
| Q3 24 | — | $242.4M | ||
| Q2 24 | — | $360.8M |
| Q1 26 | $191.2M | — | ||
| Q4 25 | $196.0M | $340.3M | ||
| Q3 25 | $203.8M | $272.0M | ||
| Q2 25 | $232.8M | $266.4M | ||
| Q1 25 | $239.7M | $217.0M | ||
| Q4 24 | $168.8M | $211.8M | ||
| Q3 24 | $181.8M | $97.2M | ||
| Q2 24 | $194.3M | $296.4M |
| Q1 26 | $285.9M | $1.4B | ||
| Q4 25 | $296.5M | $1.4B | ||
| Q3 25 | $290.0M | $1.1B | ||
| Q2 25 | $313.3M | $1.1B | ||
| Q1 25 | $318.4M | $1.0B | ||
| Q4 24 | $256.1M | $1.0B | ||
| Q3 24 | $265.3M | $689.9M | ||
| Q2 24 | $273.1M | $710.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.68× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | — | 1.39× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | — | 1.82× | ||
| Q3 24 | — | 2.49× | ||
| Q2 24 | — | 1.22× |
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 | $41.1M |
| Free Cash FlowOCF − Capex | — | $40.9M |
| FCF MarginFCF / Revenue | — | 80.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 2.30× |
| TTM Free Cash FlowTrailing 4 quarters | — | $232.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-13.9M | $41.1M | ||
| Q4 25 | $9.0M | $126.3M | ||
| Q3 25 | $-2.9M | $34.9M | ||
| Q2 25 | $-7.2M | $37.3M | ||
| Q1 25 | $-11.7M | $15.9M | ||
| Q4 24 | $-3.1M | $67.6M | ||
| Q3 24 | $-7.9M | $7.5M | ||
| Q2 24 | $-10.0M | $16.0M |
| Q1 26 | — | $40.9M | ||
| Q4 25 | $7.9M | $122.0M | ||
| Q3 25 | $-3.9M | $33.7M | ||
| Q2 25 | $-8.1M | $36.1M | ||
| Q1 25 | $-12.0M | $15.8M | ||
| Q4 24 | $-3.5M | $66.7M | ||
| Q3 24 | $-8.3M | $7.1M | ||
| Q2 24 | $-10.7M | $15.7M |
| Q1 26 | — | 80.3% | ||
| Q4 25 | 25.2% | 214.9% | ||
| Q3 25 | -18.2% | 66.3% | ||
| Q2 25 | -34.5% | 75.9% | ||
| Q1 25 | -56.7% | 36.0% | ||
| Q4 24 | -15.8% | 182.6% | ||
| Q3 24 | -40.5% | 25.1% | ||
| Q2 24 | -50.0% | 60.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 7.5% | ||
| Q3 25 | 4.7% | 2.3% | ||
| Q2 25 | 3.8% | 2.6% | ||
| Q1 25 | 1.7% | 0.2% | ||
| Q4 24 | 1.8% | 2.7% | ||
| Q3 24 | 2.0% | 1.1% | ||
| Q2 24 | 3.4% | 1.4% |
| Q1 26 | — | 2.30× | ||
| Q4 25 | — | 15.68× | ||
| Q3 25 | — | 4.31× | ||
| Q2 25 | — | 4.98× | ||
| Q1 25 | — | 2.46× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 2.80× | ||
| 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% |
LB
| Other | $14.2M | 28% |
| Easements and other surface-related revenues | $11.6M | 23% |
| Surface use royalties - related party | $11.0M | 22% |
| Resource sales | $5.2M | 10% |
| Resource royalties | $4.3M | 8% |
| Easements and other surface-related revenues - related party | $3.2M | 6% |
| Resource royalties - related party | $1.3M | 2% |
| Resource sales - related party | $205.0K | 0% |
