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Side-by-side financial comparison of Butterfly Network, Inc. (BFLY) and TPG Mortgage Investment Trust, Inc. (MITT). Click either name above to swap in a different company.
Butterfly Network, Inc. is the larger business by last-quarter revenue ($26.5M vs $20.4M, roughly 1.3× TPG Mortgage Investment Trust, Inc.). TPG Mortgage Investment Trust, Inc. runs the higher net margin — 65.0% vs -47.8%, a 112.7% gap on every dollar of revenue. On growth, Butterfly Network, Inc. posted the faster year-over-year revenue change (25.0% vs 17.7%). Over the past eight quarters, Butterfly Network, Inc.'s revenue compounded faster (11.1% CAGR vs 9.1%).
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.
TPG Mortgage Investment Trust, Inc. is a real estate investment trust managed by global alternative asset firm TPG. It primarily invests in residential and commercial mortgage-backed securities, performing and non-performing mortgage loans, and other credit-linked real estate assets, with its core market being the United States. It generates returns via net interest income from holdings and strategic asset disposition gains.
BFLY vs MITT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.5M | $20.4M |
| Net Profit | $-12.7M | $13.3M |
| Gross Margin | 68.9% | — |
| Operating Margin | -21.2% | 67.1% |
| Net Margin | -47.8% | 65.0% |
| Revenue YoY | 25.0% | 17.7% |
| Net Profit YoY | — | -7.0% |
| EPS (diluted) | $-0.05 | $0.27 |
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 | $20.4M | ||
| Q3 25 | $21.5M | $19.5M | ||
| Q2 25 | $23.4M | $17.8M | ||
| Q1 25 | $21.2M | $18.8M | ||
| Q4 24 | $22.4M | $17.4M | ||
| Q3 24 | $20.6M | $14.9M | ||
| Q2 24 | $21.5M | $16.4M |
| Q1 26 | $-12.7M | — | ||
| Q4 25 | $-15.3M | $13.3M | ||
| Q3 25 | $-34.0M | $20.0M | ||
| Q2 25 | $-13.8M | $3.9M | ||
| Q1 25 | $-14.0M | $11.5M | ||
| Q4 24 | $-18.1M | $14.3M | ||
| Q3 24 | $-16.9M | $16.6M | ||
| Q2 24 | $-15.7M | $3.9M |
| 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% | 67.1% | ||
| Q3 25 | -163.5% | — | ||
| Q2 25 | -68.9% | 20.9% | ||
| Q1 25 | -87.0% | 54.6% | ||
| Q4 24 | -77.5% | 76.7% | ||
| Q3 24 | -83.9% | — | ||
| Q2 24 | -80.2% | 18.4% |
| Q1 26 | -47.8% | — | ||
| Q4 25 | -48.5% | 65.0% | ||
| Q3 25 | -158.1% | 102.5% | ||
| Q2 25 | -59.2% | 22.2% | ||
| Q1 25 | -65.8% | 60.9% | ||
| Q4 24 | -81.0% | 82.2% | ||
| Q3 24 | -82.3% | 111.3% | ||
| Q2 24 | -73.1% | 24.0% |
| Q1 26 | $-0.05 | — | ||
| Q4 25 | $-0.06 | $0.27 | ||
| Q3 25 | $-0.13 | $0.47 | ||
| Q2 25 | $-0.06 | $-0.05 | ||
| Q1 25 | $-0.06 | $0.21 | ||
| Q4 24 | $-0.09 | $0.30 | ||
| Q3 24 | $-0.08 | $0.40 | ||
| Q2 24 | $-0.07 | $-0.02 |
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 | $57.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $191.2M | $560.7M |
| Total Assets | $285.9M | $8.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $138.0M | — | ||
| Q4 25 | $150.5M | $57.8M | ||
| Q3 25 | $144.2M | $59.0M | ||
| Q2 25 | $148.1M | $88.7M | ||
| Q1 25 | $155.2M | $115.5M | ||
| Q4 24 | $88.8M | $118.7M | ||
| Q3 24 | $93.8M | $102.5M | ||
| Q2 24 | $102.1M | $120.9M |
| Q1 26 | $191.2M | — | ||
| Q4 25 | $196.0M | $560.7M | ||
| Q3 25 | $203.8M | $559.8M | ||
| Q2 25 | $232.8M | $536.4M | ||
| Q1 25 | $239.7M | $543.9M | ||
| Q4 24 | $168.8M | $543.4M | ||
| Q3 24 | $181.8M | $540.1M | ||
| Q2 24 | $194.3M | $533.5M |
| Q1 26 | $285.9M | — | ||
| Q4 25 | $296.5M | $8.7B | ||
| Q3 25 | $290.0M | $9.0B | ||
| Q2 25 | $313.3M | $7.5B | ||
| Q1 25 | $318.4M | $7.3B | ||
| Q4 24 | $256.1M | $6.9B | ||
| Q3 24 | $265.3M | $7.0B | ||
| Q2 24 | $273.1M | $7.1B |
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 | $59.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 4.48× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-13.9M | — | ||
| Q4 25 | $9.0M | $59.6M | ||
| Q3 25 | $-2.9M | $17.4M | ||
| Q2 25 | $-7.2M | $11.5M | ||
| Q1 25 | $-11.7M | $12.0M | ||
| Q4 24 | $-3.1M | $55.8M | ||
| Q3 24 | $-7.9M | $14.5M | ||
| Q2 24 | $-10.0M | $13.7M |
| 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 | — | 4.48× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 2.92× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | — | 0.87× | ||
| Q2 24 | — | 3.50× |
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% |
MITT
Segment breakdown not available.
