Butterfly Network (BFLY) Operating Margin (2020 - 2026)
Butterfly Network's Operating Margin was -41.90% in Q2 2026, up 26.95 percentage points from -68.85% a year earlier and up 10.39 percentage points from the prior quarter.
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Analysis
Butterfly Network (BFLY) Operating Margin (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Butterfly Network's Operating Margin was -70.79% through Jun 30, 2026, up 8.20 percentage points year-over-year; for FY2025, it came in at -88.53%, up 2.15 percentage points from FY2024.
- Operating Margin has now increased for six consecutive years, with a five-year change of +260.90 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was -90.68% in FY2024 (+130.27 pp), -220.96% in FY2023 (+42.05 pp), -263.01% in FY2022 (+45.04 pp) and -308.04% in FY2021 (+41.39 pp).
- The Q2 2026 figure marks the highest quarterly Operating Margin in data going back to Q1 2020.
- Compared with a year earlier, Operating Margin has increased for three straight quarters, with an average year-over-year change of +48.96 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q3 2021 (a gain of 516.29 percentage points); the worst was Q4 2021 (a drop of 96.73 percentage points).
- Per Business Quant data, BFLY's Operating Margin in the three quarters before Q2 2026 was -52.29% (Q1 2026), -53.03% (Q4 2025) and -163.50% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 251.30 Bn | 230.45 Bn | 4.88 Bn | 17.40% |
| 2 | Abbott Laboratories | 174.70 Bn | 145.78 Bn | 7.27 Bn | 13.44% |
| 3 | Danaher | 158.94 Bn | 142.76 Bn | 3.61 Bn | 17.99% |
| 4 | Intuitive Surgical | 145.87 Bn | 125.42 Bn | 1.96 Bn | 33.60% |
| 5 | Medtronic | 111.49 Bn | 77.36 Bn | 6.34 Bn | 18.08% |
| 6 | Stryker | 106.96 Bn | 93.08 Bn | 4.50 Bn | 25.18% |
| 7 | Boston Scientific | 63.62 Bn | 58.63 Bn | 3.85 Bn | 21.65% |
| 8 | Edwards Lifesciences | 50.80 Bn | 34.92 Bn | 1.35 Bn | 29.48% |
| 9 | Becton Dickinson | 49.59 Bn | 46.74 Bn | 2.32 Bn | 13.31% |
| 10 | Butterfly Network | 2.17 Bn | 1.61 Bn | 23.29 Mn | -41.90% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -41.90% |
| Mar 31, 2026 | -52.29% |
| Dec 31, 2025 | -53.03% |
| Sep 30, 2025 | -163.50% |
| Jun 30, 2025 | -68.85% |
| Mar 31, 2025 | -87.01% |
| Dec 31, 2024 | -77.46% |
| Sep 30, 2024 | -83.88% |
| Jun 30, 2024 | -80.20% |
| Mar 31, 2024 | -128.12% |
| Dec 31, 2023 | -282.94% |
| Sep 30, 2023 | -211.16% |
| Jun 30, 2023 | -169.11% |
| Mar 31, 2023 | -226.46% |
| Dec 31, 2022 | -258.14% |
| Sep 30, 2022 | -234.64% |
| Jun 30, 2022 | -252.17% |
| Mar 31, 2022 | -318.05% |
| Dec 31, 2021 | -238.61% |
| Sep 30, 2021 | -389.76% |
API Access
Butterfly Network Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=BFLY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "BFLY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=BFLY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();