BFLY — what changed in the latest 10-Q
A section-by-section comparison of BFLY's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-29 vs the prior 10-Q · 2026-07-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +31 | −27 | ~9 | 16 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Risk factors | Some risk factors updated | +3 | 0 | ~1 | 0 |
| Other information | Text added/removed | +4 | −1 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-29
Three months ended September 30,Nine months ended September 30,
Comparison of the three months ended September 30, 2026 and 2025
Product revenue increased by $1.1 million, or 7.4%, for the three months ended September 30, 2026 compared to the three months ended September 30, 2025. This increase was primarily driven by the increase in probe sales volume across multiple sales channels.
Software and other services revenue increased by $10.0 million, or 144.8%, for the three months ended September 30, 2026 compared to the three months ended September 30, 2025. This increase was primarily driven by software and other services revenue generated from our various Embedded partnerships, …
Cost of product revenue decreased by $16.7 million, or 71.0%, for the three months ended September 30, 2026 compared to the three months ended September 30, 2025, primarily driven by a non-recurring $17.4 million charge during the three months ended September 30, 2025 for excess and obsolete invento…
Text removed vs the prior filing · source: 10-Q · 2026-07-30
Product revenue decreased by $0.9 million, or 5.4%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. The overall decrease was driven by the non-recurrence of prior-year sales of semiconductor
chips to our Embedded partners, reducing current-year product revenue by $1.3 million. This decrease was partially offset by $0.4 million of higher product revenue generated from the increase in probe sales volume within our core business.
Software and other services revenue increased by $10.1 million, or 149.8%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. This increase was primarily driven by increases in software and other services revenue generated by our Embedded partnerships, includi…
Cost of product revenue increased by $0.7 million, or 10.5%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, primarily driven by the increased cost of devices sold as a result of our higher probe sales volume.
Cost of software and other services revenue remained relatively flat for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, increasing by $0.1 million, or 7.2%. This increase was primarily driven by a $0.6 million increase in costs related to providing services to…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-10-29
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.
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 reve…
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 mile…
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-29
On August 6, 2026, John Doherty, our Executive Vice President, Chief Financial Officer, adopted a "Rule 10b5-1 trading arrangement" (as such term is defined in Item 408 of Regulation S-K) (a "10b5-1 Plan"), pursuant to which Mr. Doherty has authorized the sale of up to 200,000 shares of our Class A …
On August 14, 2026, Dr. Jonathan Rothberg, a member of our board of directors, acting on his own and on behalf of 4C Holdings I, LLC, 4C Holdings II, LLC, 4C Holdings III, LLC, 4C Holdings IV, LLC, and Dr. Bonnie Rothberg, Dr. Jonathan Rothberg's spouse, adopted a 10b5-1 Plan, pursuant to which Dr. …
On August 19, 2026, Nicholas Caezza, our Vice President, Deputy General Counsel and Corporate Secretary, adopted a 10b5-1 Plan, pursuant to which Mr. Caezza has authorized the sale of up to 15,000 shares of our Class A common stock during a period beginning on January 4, 2027, and ending on October …
During the three months ended September 30, 2026, none of our other directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted, modified, or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement", as each term is defined in Item 408 of Regulation…
Text removed vs the prior filing · source: 10-Q · 2026-07-30
During the three months ended June 30, 2026, none of our directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) of the Company adopted, modified, or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement", as each term is defined in Item 408 of Regula…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice