Butterfly Network’s third quarter revenue rose 52 percent to $32.6 million, from $21.5 million a year earlier, the company reported on October 29 in results furnished to the SEC. United States revenue rose 71 percent to $27.5 million, driven by its various Butterfly programs including embedded revenue, while international revenue fell 5 percent to $5.1 million on lower probe sales to global health partners. Software and other services supplied $17.0 million of the total, more than product revenue of $15.6 million.
The margin is the headline inside the headline. Gross profit was $23.8 million, a 73 percent gross margin that the company called the highest in its history, against a gross loss of $3.8 million in the prior year quarter, when inventory and vendor advance write downs hit the result. Net loss narrowed to $12.8 million, or $0.05 per share, from $34.0 million, or $0.13 per share, and the adjusted EBITDA loss narrowed to $1.2 million. Cash and cash equivalents were $122.3 million.
Chief executive Joseph DeVivo said the company raised guidance on both revenue and adjusted EBITDA, that the enterprise pipeline is turning into signed deals, and that progress is compounding as laid out, with the ultrasound on chip platform moving into new categories. The company also pointed to momentum in Brazil, a new distribution partner in Taiwan, and its Apollo chip development staying on schedule.
Full year 2026 guidance now stands at revenue of $123 million to $126 million, growth of about 26 to 29 percent, with an adjusted EBITDA loss of $12 million to $15 million. Fourth quarter revenue is guided at $31 million to $34 million, with an adjusted EBITDA loss of $3 million to $6 million. The remaining question is scale: Butterfly has shown the model can earn software like margins, and still has to show it can do so at a revenue level that covers $37.4 million of quarterly operating expenses.