Butterfly Network, Inc.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 29, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-07-30.
0001804176-26-000027
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-10-29.
0001804176-26-000040
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 2 previous paragraphs and 5 current paragraphs.
1 unchanged; 1 reworded; 3 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
The current filing states there were no material changes to risk factors.
This is the filer’s own statement, not a conclusion from the comparison. Read its qualifications and the report it references.
Current filing’s statement
Our business, results of operations, and financial condition are subject to various risks and uncertainties including the risk factors described under the caption "Risk Factors" in our 2025 Annual Report on Form 10-K. There have been no material changes to the risk factors described in the 2025 Annual Report on Form 10-K, except as set forth below.
Added paragraphs (3)
Current report
A significant portion of our revenue is derived from a limited number of customers, including our Embedded partners, and the loss of, or a significant reduction in revenue from, any of these customers could adversely affect our business, financial condition, and results of operations.
Current report
A limited number of customers account for a significant portion of our revenue. For the three months ended September 30, 2026, two customers each accounted for more than 10% of our total revenue. For the nine months ended September 30, 2026, one customer accounted for more than 10% of our total revenue. By comparison, no customer accounted for more than 10% of our total revenue for the three and nine months ended September 30, 2025. As of September 30, 2026, two customers each accounted for more than 10% of our accounts receivable.
Current report
We expect that a limited number of customers will continue to account for a significant portion of our revenue for the foreseeable future. Our agreements with these customers may be terminated in certain circumstances, including for certain breaches and insolvency events. Our ability to receive milestone and other contingent payments under these agreements depends on factors outside our control. If any of these customers terminates or fails to renew its agreement with us, delays or fails to make required payments, or experiences financial difficulties, our revenue, cash flows, and results of operations could be materially adversely affected. Our concentration of accounts receivable also exposes us to increased credit risk.
Reworded paragraphs (1)
Previous wording
Our business, results of operations, and financial condition are subject to various risks and uncertainties including the risk factors described under the caption "Risk Factors" in our 2025 Annual Report on Form 10-K. There have been no material changes to the risk factors described in the 2025 Annual Report on Form 10-K.
Current wording
Our business, results of operations, and financial condition are subject to various risks and uncertainties including the risk factors described under the caption "Risk Factors" in our 2025 Annual Report on Form 10-K. There have been no material changes to the risk factors described in the 2025 Annual Report on Form 10-K, except as set forth below.