Butterfly Network, Inc. develops handheld ultrasound systems built around its proprietary Ultrasound-on-Chip semiconductor technology, which replaces traditional piezoelectric crystal-based designs. The company sells the Butterfly iQ3, iQ+, iQ+ Bladder, Butterfly Move, and veterinary probes together with software subscriptions, cloud tools, education products, and professional services. Its business is designed to make point-of-care imaging portable and easier to use across hospitals, clinics, emergency services, home care, and global health settings. Butterfly also has a growing embedded-technology and licensing element, where it supplies semiconductor chips and software support to partners. The company was founded in 2011 and now sells in more than 30 countries through direct sales, distributors, and eCommerce.
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2.88
| % | |
|---|---|
| Ultrasound devices | 65% Handheld ultrasound probes and related accessories used for point-of-care imaging in human and veterinary care. |
| Software subscriptions and cloud services | 25% SaaS, support, teleguidance, and cloud-hosted workflow tools sold to healthcare customers. |
| Education and training | 5% Butterfly Academy, Certified courses, and in-app educational content that help users adopt and use the devices. |
| Butterfly Embedded and licensing | 5% Semiconductor chip deliveries, SDKs, and partnership support services tied to co-development and licensing. |
Butterfly sells primarily to healthcare systems, physicians, and healthcare providers that want portable ultrasound at...
Buy probes, software subscriptions, and deployment services to standardize point-of-care ultrasound across departments and clinicians.
Purchase devices through direct sales or eCommerce because the handheld form factor makes ultrasound accessible outside traditional imaging departments.
Clinics, EMS, urgent care, and home-care teams buy portable imaging tools to support diagnosis and monitoring at the bedside or in the field.
Buy Butterfly iQ+/iQ3 Vet devices for animal imaging and workflow support in veterinary practices.
Use donated or deployed devices in underserved communities where access to imaging is limited.
License semiconductor chips and software support for co-development and integration into partner products.
Butterfly is headquartered in Burlington, Massachusetts and operates through subsidiaries in the United States,...
Butterfly’s strategy is to deepen penetration in core point-of-care ultrasound by expanding from individual users into...
Large health systems can standardize usage across many clinicians and create durable device, software, and support demand.
Portable ultrasound can move imaging closer to the patient and support lower-cost care pathways outside traditional radiology settings.
Licensing and co-development can extend the semiconductor platform into new revenue streams beyond probe sales.
Training lowers the barrier to ultrasound use for clinicians without prior imaging expertise and supports repeat usage.
Butterfly remains exposed to the risk that adoption of handheld ultrasound grows more slowly than expected, especially...
Devices connect to customer IT environments and cloud services, so a breach could disrupt care, expose PHI, and trigger recalls or litigation.
The company relies on external hardware and software inputs, and a supplier incident could affect production or product functionality.
Butterfly has a limited revenue base relative to its commercialization and R&D ambitions, so funding needs can remain elevated.
Medical device sales depend on maintaining FDA, CE, and other approvals in each market.
The value proposition depends on clinicians changing workflows and payors or providers recognizing cost savings.
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: 11/08/2026