Butterfly Network, Inc. balance sheet
At the end of fiscal 2025, Butterfly Network, Inc. had total assets of $297m, total liabilities of $101m and shareholders' equity of $196m. It held $150m in cash against $0 of debt: net cash of $150m.
Balance sheet
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 90 | 60 | 423 | 163 | 134 | 89 | 150 | 122 |
| Receivables | — | 6 | 12 | 15 | 13 | 21 | 27 | 37 |
| Inventory | — | 26 | 36 | 60 | 73 | 71 | 61 | 60 |
| Total current assets | — | 97 | 512 | 357 | 231 | 193 | 249 | 244 |
| Total assets | — | 147 | 572 | 418 | 304 | 256 | 297 | 288 |
| Accounts payable | — | 16 | 6 | 7 | 5 | 4 | 5 | 6 |
| Deferred revenue (current) | — | 8 | 13 | 16 | 16 | 16 | 27 | 16 |
| Total current liabilities | — | 70 | 50 | 51 | 44 | 48 | 65 | 68 |
| Total debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total liabilities | — | 148 | 124 | 92 | 84 | 87 | 101 | 104 |
| Shareholders' equity | −212 | −362 | 448 | 325 | 220 | 169 | 196 | 184 |
| Non-controlling interests and other (assets − liabilities − equity) | — | 361 | — | — | — | — | — | — |
| Net debt (negative = net cash) | −90 | −60 | −423 | −163 | −134 | −89 | −150 | −122 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Receivables | 21 | 20 | 25 | 24 | 27 | 25 | 35 | 37 |
| Inventory | 71 | 69 | 69 | 62 | 61 | 59 | 59 | 60 |
| Total current assets | 193 | 257 | 254 | 241 | 249 | 240 | 238 | 244 |
| Total assets | 256 | 318 | 313 | 290 | 297 | 286 | 283 | 288 |
| Accounts payable | 4 | 2 | 3 | 3 | 5 | 3 | 4 | 6 |
| Deferred revenue (current) | 16 | 15 | 16 | 16 | 27 | 23 | 15 | 16 |
| Total current liabilities | 48 | 42 | 45 | 50 | 65 | 60 | 59 | 68 |
| Total liabilities | 87 | 79 | 80 | 86 | 101 | 95 | 94 | 104 |
| Shareholders' equity | 169 | 240 | 233 | 204 | 196 | 191 | 189 | 184 |
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