Butterfly Network, Inc. Redeemable Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share (BFLY.WS)

The Russell 2000 index reached an all-time high after the Federal Reserve signaled potential interest rate cuts, boosting small-cap stocks and providing cheaper borrowing opportunities for smaller companies.

Butterfly Network reported Q2 2025 results with 9% revenue growth, record 63.7% gross margin, and narrowed losses. The company revised full-year revenue guidance lower and is focusing on AI-driven software and international expansion.

The global ultrasound image analysis software market is expected to grow from $0.913 billion in 2024 to $2.2 billion by 2035, driven by advancements in ultrasound technology, rising chronic diseases, and the integration of AI and machine learning.

Butterfly Network's Chief Technology Officer, Andrei G. Stoica, sold $1,486 worth of Class A Common Stock as part of a tax withholding policy. The transaction was routine and not made at Stoica's discretion.