Butterfly Network, Inc.: management transactions · United States · SEC (Form 4)

About Butterfly Network, Inc.

Butterfly Network, Inc. is a U.S.-based medical technology company listed on the NYSE under the ticker BFLY in the United States market. Founded in 2011 by Dr. Jonathan Rothberg, the company was built around a clear mission: democratize medical imaging by making ultrasound more affordable, portable, easier to use, and more widely accessible. Its headquarters are in Burlington, Massachusetts, and it has a commercial footprint that spans the United States and multiple international markets. For French-speaking investors, Butterfly is best viewed as a growth-stage medtech with a still-evolving commercial model and a meaningful execution story ahead. The business centers on semiconductor-based handheld ultrasound devices, cloud software, and AI-enabled workflows. Butterfly’s core product family includes Butterfly iQ, iQ+, and the third-generation iQ3, all designed to bring whole-body point-of-care ultrasound into a compact, smartphone- and tablet-connected format. The company also offers Butterfly Move, which combines portability with cart-like stability, and more specialized solutions such as iQ+ Bladder. Beyond hardware, Butterfly is working to expand recurring revenue through software subscriptions, cloud-connected services, and ecosystem monetization via initiatives such as Butterfly Embedded and Butterfly Garden. From a competitive standpoint, Butterfly Network targets the point-of-care ultrasound (POCUS) market, where adoption depends on device simplicity, workflow integration, clinical utility, and total cost of ownership. Its differentiation lies in its ultrasound-on-chip architecture, software-led product design, and a platform approach that can extend beyond traditional device sales. That makes Butterfly a distinct competitor versus larger, more established imaging vendors that rely on conventional ultrasound hardware. The company is pushing deeper into hospitals, outpatient settings, community care, and home-based use cases, which broadens its long-term addressable market. Recent developments reinforce that strategic direction. Butterfly launched the iQ3 in the U.S. in 2024 and expanded it into Europe the same year. In 2026, the company announced its first FDA clearance for a blind-sweep ultrasound AI tool, underscoring its push into AI-enabled imaging. More recently, Butterfly reported accelerating revenue growth in 2025 and early 2026, alongside progress on HomeCare commercialization and growing contributions from licensing and partnership revenue. In short, Butterfly Network remains a transformation story in digital health and ultrasound: attractive for its technology and platform potential, but still dependent on commercial execution, regulatory milestones, and its ability to scale adoption against strong competition.