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two Earnings Recaps

BFLY Financials 1 recap
Q1 2026 May 1, 2026

Butterfly Network shares surged 9.8% following Q1 2026 earnings as investors responded positively to 25% revenue growth, expanding gross margin, and clear progress in enterprise AI-driven adoption. Acceleration in software deals and FDA recognition of new AI tools contributed to the upbeat market reaction.

Key takeaways
  • Reported 25% year-over-year revenue growth for the first quarter.
  • Gross margin reached 69%, with net loss at its lowest Q1 level since the company went public.
  • Achieved FDA clearance for a blind sweep AI tool to determine fetal gestational age, positioned for a U.S. and global rollout.
  • Two new partners joined the Butterfly Garden ecosystem, with four partner apps receiving FDA clearance and additional breakthrough designations.
  • Pipeline of software deals, measured by total contract value, rose sharply year-on-year, including a 7-figure Compass AI enterprise agreement and nearly 1,000 probes sold to medical schools in early 2026.
Full recap