vs
Side-by-side financial comparison of Butterfly Network, Inc. (BFLY) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $31.5M, roughly 1.2× Butterfly Network, Inc.). SmartRent, Inc. runs the higher net margin — -8.9% vs -48.5%, a 39.6% gap on every dollar of revenue. On growth, Butterfly Network, Inc. posted the faster year-over-year revenue change (41.0% vs 3.1%). Butterfly Network, Inc. produced more free cash flow last quarter ($7.9M vs $7.7M). Over the past eight quarters, Butterfly Network, Inc.'s revenue compounded faster (33.6% CAGR vs -15.0%).
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.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
BFLY vs SMRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $31.5M | $36.5M |
| Net Profit | $-15.3M | $-3.2M |
| Gross Margin | 67.3% | 38.6% |
| Operating Margin | -53.0% | -10.9% |
| Net Margin | -48.5% | -8.9% |
| Revenue YoY | 41.0% | 3.1% |
| Net Profit YoY | 15.5% | 71.6% |
| EPS (diluted) | $-0.06 | $-0.02 |
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 | $36.5M | ||
| Q3 25 | $21.5M | $36.2M | ||
| Q2 25 | $23.4M | $38.3M | ||
| Q1 25 | $21.2M | $41.3M | ||
| Q4 24 | $22.4M | $35.4M | ||
| Q3 24 | $20.6M | $40.5M | ||
| Q2 24 | $21.5M | $48.5M | ||
| Q1 24 | $17.7M | $50.5M |
| Q4 25 | $-15.3M | $-3.2M | ||
| Q3 25 | $-34.0M | $-6.3M | ||
| Q2 25 | $-13.8M | $-10.9M | ||
| Q1 25 | $-14.0M | $-40.2M | ||
| Q4 24 | $-18.1M | $-11.4M | ||
| Q3 24 | $-16.9M | $-9.9M | ||
| Q2 24 | $-15.7M | $-4.6M | ||
| Q1 24 | $-21.8M | $-7.7M |
| Q4 25 | 67.3% | 38.6% | ||
| Q3 25 | -17.5% | 26.4% | ||
| Q2 25 | 63.7% | 33.1% | ||
| Q1 25 | 63.0% | 32.8% | ||
| Q4 24 | 61.5% | 28.7% | ||
| Q3 24 | 59.5% | 33.2% | ||
| Q2 24 | 58.6% | 35.7% | ||
| Q1 24 | 58.2% | 38.5% |
| Q4 25 | -53.0% | -10.9% | ||
| Q3 25 | -163.5% | -19.4% | ||
| Q2 25 | -68.9% | -30.5% | ||
| Q1 25 | -87.0% | -99.9% | ||
| Q4 24 | -77.5% | -36.6% | ||
| Q3 24 | -83.9% | -29.0% | ||
| Q2 24 | -80.2% | -14.3% | ||
| Q1 24 | -128.1% | -20.1% |
| Q4 25 | -48.5% | -8.9% | ||
| Q3 25 | -158.1% | -17.3% | ||
| Q2 25 | -59.2% | -28.3% | ||
| Q1 25 | -65.8% | -97.2% | ||
| Q4 24 | -81.0% | -32.3% | ||
| Q3 24 | -82.3% | -24.5% | ||
| Q2 24 | -73.1% | -9.5% | ||
| Q1 24 | -123.2% | -15.2% |
| Q4 25 | $-0.06 | $-0.02 | ||
| Q3 25 | $-0.13 | $-0.03 | ||
| Q2 25 | $-0.06 | $-0.06 | ||
| Q1 25 | $-0.06 | $-0.21 | ||
| Q4 24 | $-0.09 | $-0.06 | ||
| Q3 24 | $-0.08 | $-0.05 | ||
| Q2 24 | $-0.07 | $-0.02 | ||
| Q1 24 | $-0.10 | $-0.04 |
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 | $104.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $196.0M | $232.1M |
| Total Assets | $296.5M | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $150.5M | $104.5M | ||
| Q3 25 | $144.2M | $100.0M | ||
| Q2 25 | $148.1M | $105.0M | ||
| Q1 25 | $155.2M | $125.6M | ||
| Q4 24 | $88.8M | $142.5M | ||
| Q3 24 | $93.8M | $163.4M | ||
| Q2 24 | $102.1M | $187.4M | ||
| Q1 24 | $112.7M | $204.7M |
| Q4 25 | $196.0M | $232.1M | ||
| Q3 25 | $203.8M | $234.4M | ||
| Q2 25 | $232.8M | $238.8M | ||
| Q1 25 | $239.7M | $250.7M | ||
| Q4 24 | $168.8M | $289.4M | ||
| Q3 24 | $181.8M | $305.1M | ||
| Q2 24 | $194.3M | $329.4M | ||
| Q1 24 | $204.0M | $333.1M |
| Q4 25 | $296.5M | $320.9M | ||
| Q3 25 | $290.0M | $335.8M | ||
| Q2 25 | $313.3M | $354.0M | ||
| Q1 25 | $318.4M | $366.1M | ||
| Q4 24 | $256.1M | $420.2M | ||
| Q3 24 | $265.3M | $448.6M | ||
| Q2 24 | $273.1M | $475.3M | ||
| Q1 24 | $284.3M | $485.5M |
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 | $9.0M | $7.7M |
| Free Cash FlowOCF − Capex | $7.9M | $7.7M |
| FCF MarginFCF / Revenue | 25.2% | 21.0% |
| Capex IntensityCapex / Revenue | 3.4% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0M | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.0M | $7.7M | ||
| Q3 25 | $-2.9M | $-2.1M | ||
| Q2 25 | $-7.2M | $-14.9M | ||
| Q1 25 | $-11.7M | $-12.2M | ||
| Q4 24 | $-3.1M | $-12.0M | ||
| Q3 24 | $-7.9M | $-3.7M | ||
| Q2 24 | $-10.0M | $-13.9M | ||
| Q1 24 | $-20.7M | $-3.3M |
| Q4 25 | $7.9M | $7.7M | ||
| Q3 25 | $-3.9M | $-2.2M | ||
| Q2 25 | $-8.1M | $-16.2M | ||
| Q1 25 | $-12.0M | $-14.3M | ||
| Q4 24 | $-3.5M | $-13.3M | ||
| Q3 24 | $-8.3M | $-3.9M | ||
| Q2 24 | $-10.7M | $-14.1M | ||
| Q1 24 | $-21.8M | $-3.4M |
| Q4 25 | 25.2% | 21.0% | ||
| Q3 25 | -18.2% | -6.1% | ||
| Q2 25 | -34.5% | -42.3% | ||
| Q1 25 | -56.7% | -34.7% | ||
| Q4 24 | -15.8% | -37.5% | ||
| Q3 24 | -40.5% | -9.7% | ||
| Q2 24 | -50.0% | -29.1% | ||
| Q1 24 | -123.5% | -6.7% |
| Q4 25 | 3.4% | 0.0% | ||
| Q3 25 | 4.7% | 0.2% | ||
| Q2 25 | 3.8% | 3.3% | ||
| Q1 25 | 1.7% | 5.3% | ||
| Q4 24 | 1.8% | 3.5% | ||
| Q3 24 | 2.0% | 0.6% | ||
| Q2 24 | 3.4% | 0.5% | ||
| Q1 24 | 6.4% | 0.1% |
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% |
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
