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Side-by-side financial comparison of Butterfly Network, Inc. (BFLY) and RxSight, Inc. (RXST). Click either name above to swap in a different company.
RxSight, Inc. is the larger business by last-quarter revenue ($32.6M vs $26.5M, roughly 1.2× Butterfly Network, Inc.). RxSight, Inc. runs the higher net margin — -28.1% vs -47.8%, a 19.7% gap on every dollar of revenue. On growth, Butterfly Network, Inc. posted the faster year-over-year revenue change (25.0% vs -18.9%). Over the past eight quarters, Butterfly Network, Inc.'s revenue compounded faster (11.1% CAGR vs 5.1%).
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.
RxSight, Inc. is a medical technology company focused on developing and commercializing innovative intraocular lens solutions for patients undergoing cataract and refractive lens exchange procedures. Its flagship Light Adjustable Lens allows post-surgery power adjustment via a dedicated light delivery device, serving global ophthalmology care markets to improve post-operative visual outcomes for patients.
BFLY vs RXST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.5M | $32.6M |
| Net Profit | $-12.7M | $-9.2M |
| Gross Margin | 68.9% | 77.5% |
| Operating Margin | -21.2% | -34.8% |
| Net Margin | -47.8% | -28.1% |
| Revenue YoY | 25.0% | -18.9% |
| Net Profit YoY | — | -54.1% |
| EPS (diluted) | $-0.05 | $-0.22 |
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 | $32.6M | ||
| Q3 25 | $21.5M | $30.3M | ||
| Q2 25 | $23.4M | $33.6M | ||
| Q1 25 | $21.2M | $37.9M | ||
| Q4 24 | $22.4M | $40.2M | ||
| Q3 24 | $20.6M | $35.3M | ||
| Q2 24 | $21.5M | $34.9M |
| Q1 26 | $-12.7M | — | ||
| Q4 25 | $-15.3M | $-9.2M | ||
| Q3 25 | $-34.0M | $-9.8M | ||
| Q2 25 | $-13.8M | $-11.8M | ||
| Q1 25 | $-14.0M | $-8.2M | ||
| Q4 24 | $-18.1M | $-5.9M | ||
| Q3 24 | $-16.9M | $-6.3M | ||
| Q2 24 | $-15.7M | $-6.1M |
| Q1 26 | 68.9% | — | ||
| Q4 25 | 67.3% | 77.5% | ||
| Q3 25 | -17.5% | 79.9% | ||
| Q2 25 | 63.7% | 74.9% | ||
| Q1 25 | 63.0% | 74.8% | ||
| Q4 24 | 61.5% | 71.6% | ||
| Q3 24 | 59.5% | 71.4% | ||
| Q2 24 | 58.6% | 69.5% |
| Q1 26 | -21.2% | — | ||
| Q4 25 | -53.0% | -34.8% | ||
| Q3 25 | -163.5% | -40.1% | ||
| Q2 25 | -68.9% | -41.6% | ||
| Q1 25 | -87.0% | -28.2% | ||
| Q4 24 | -77.5% | -21.5% | ||
| Q3 24 | -83.9% | -26.1% | ||
| Q2 24 | -80.2% | -23.9% |
| Q1 26 | -47.8% | — | ||
| Q4 25 | -48.5% | -28.1% | ||
| Q3 25 | -158.1% | -32.4% | ||
| Q2 25 | -59.2% | -35.0% | ||
| Q1 25 | -65.8% | -21.6% | ||
| Q4 24 | -81.0% | -14.8% | ||
| Q3 24 | -82.3% | -17.9% | ||
| Q2 24 | -73.1% | -17.4% |
| Q1 26 | $-0.05 | — | ||
| Q4 25 | $-0.06 | $-0.22 | ||
| Q3 25 | $-0.13 | $-0.24 | ||
| Q2 25 | $-0.06 | $-0.29 | ||
| Q1 25 | $-0.06 | $-0.20 | ||
| Q4 24 | $-0.09 | $-0.14 | ||
| Q3 24 | $-0.08 | $-0.16 | ||
| Q2 24 | $-0.07 | $-0.16 |
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 | $228.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $191.2M | $275.7M |
| Total Assets | $285.9M | $311.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $138.0M | — | ||
| Q4 25 | $150.5M | $228.1M | ||
| Q3 25 | $144.2M | $227.5M | ||
| Q2 25 | $148.1M | $227.5M | ||
| Q1 25 | $155.2M | $229.3M | ||
| Q4 24 | $88.8M | $237.2M | ||
| Q3 24 | $93.8M | $237.1M | ||
| Q2 24 | $102.1M | $233.3M |
| Q1 26 | $191.2M | — | ||
| Q4 25 | $196.0M | $275.7M | ||
| Q3 25 | $203.8M | $276.0M | ||
| Q2 25 | $232.8M | $278.0M | ||
| Q1 25 | $239.7M | $279.3M | ||
| Q4 24 | $168.8M | $281.2M | ||
| Q3 24 | $181.8M | $277.3M | ||
| Q2 24 | $194.3M | $275.2M |
| Q1 26 | $285.9M | — | ||
| Q4 25 | $296.5M | $311.8M | ||
| Q3 25 | $290.0M | $308.5M | ||
| Q2 25 | $313.3M | $309.0M | ||
| Q1 25 | $318.4M | $313.0M | ||
| Q4 24 | $256.1M | $318.6M | ||
| Q3 24 | $265.3M | $310.5M | ||
| Q2 24 | $273.1M | $305.5M |
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 | $-1.1M |
| Free Cash FlowOCF − Capex | — | $-2.3M |
| FCF MarginFCF / Revenue | — | -6.9% |
| Capex IntensityCapex / Revenue | — | 3.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-19.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-13.9M | — | ||
| Q4 25 | $9.0M | $-1.1M | ||
| Q3 25 | $-2.9M | $-1.2M | ||
| Q2 25 | $-7.2M | $-4.4M | ||
| Q1 25 | $-11.7M | $-8.8M | ||
| Q4 24 | $-3.1M | $-4.3M | ||
| Q3 24 | $-7.9M | $650.0K | ||
| Q2 24 | $-10.0M | $-4.0M |
| Q1 26 | — | — | ||
| Q4 25 | $7.9M | $-2.3M | ||
| Q3 25 | $-3.9M | $-1.8M | ||
| Q2 25 | $-8.1M | $-5.9M | ||
| Q1 25 | $-12.0M | $-9.4M | ||
| Q4 24 | $-3.5M | $-5.1M | ||
| Q3 24 | $-8.3M | $-453.0K | ||
| Q2 24 | $-10.7M | $-5.5M |
| Q1 26 | — | — | ||
| Q4 25 | 25.2% | -6.9% | ||
| Q3 25 | -18.2% | -5.8% | ||
| Q2 25 | -34.5% | -17.6% | ||
| Q1 25 | -56.7% | -24.8% | ||
| Q4 24 | -15.8% | -12.7% | ||
| Q3 24 | -40.5% | -1.3% | ||
| Q2 24 | -50.0% | -15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 3.5% | ||
| Q3 25 | 4.7% | 1.9% | ||
| Q2 25 | 3.8% | 4.6% | ||
| Q1 25 | 1.7% | 1.5% | ||
| Q4 24 | 1.8% | 2.1% | ||
| Q3 24 | 2.0% | 3.1% | ||
| Q2 24 | 3.4% | 4.4% |
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% |
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
