Butterfly Network, Inc. (BFLY) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: April 30, 2026

Risk Assessment Details

Potential Dilution: 77.81% of current shares
Recent Dilution: 725.79% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
260M
Potential Supply
200M
Additional shares possible
Splits
None
Past 2 years

Summary

BFLY currently has 257M outstanding shares. with significant dilution risk as 200M authorized shares could dilute existing holders by 77.8%. The company has significantly diluted shareholders by 725.79% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 30, 2026

10-Q filing | 256.5M shares outstanding

260M 200M
Oct 31, 2025

10-Q filing | 226.2M shares outstanding

230M 200M
Aug 01, 2025

10-Q filing | 225.3M shares outstanding

230M 200M
May 02, 2025

10-Q filing | 234.9M shares outstanding

230M 200M
Feb 28, 2025

10-K filing | 211.7M shares outstanding

210M 200M
Jan 30, 2025

8-K filing: Butterfly Network, Inc. entered into an underwriting agreement for a public offering of 27,600,000 shares of Class A common stock at $3.15 per share, with gross proceeds of approximately $75.6 million before deductions. The closing is expected to occur on January 31, 2025, subject to customary conditions. ($75.6M proceeds)

26M 200M
Nov 01, 2024

10-Q filing | 26.4M shares outstanding

26M 200M
Aug 01, 2024

10-Q filing | 26.4M shares outstanding

26M 200M
May 01, 2024

10-Q filing | 26.4M shares outstanding

26M 200M
Mar 04, 2024

10-K filing | 26.4M shares outstanding

26M 200M
Nov 06, 2023

10-Q filing | 180.6M shares outstanding

180M 200M
Aug 18, 2023

S-3/A filing: The company intends to issue up to $300 million in aggregate principal amount of Class A common stock, preferred stock, and debt securities.

180M 200M
Aug 08, 2023

POS AM filing: This is a POS AM filing for Butterfly Network, Inc. related to the issuance of Class A common stock upon exercise of warrants, and resale of Class A common stock, Class B common stock and warrants by Selling Securityholders.

210M 200M
Aug 08, 2023

S-3 filing: The company is filing an S-3 to offer up to $300 million in aggregate principal amount of Class A common stock, preferred stock, debt securities, warrants and/or units.

180M 200M
Aug 04, 2023

10-Q filing | 179.7M shares outstanding

180M 50M
May 11, 2023

10-Q filing | 177.4M shares outstanding

180M 50M
May 02, 2023

POS AM filing: This is a POS AM filing for Butterfly Network, Inc. regarding the issuance of Class A common stock upon exercise of warrants, and resale of Class A common stock, Class B common stock, and warrants by selling securityholders.

200M 50M
Mar 23, 2023

10-K filing | 26.4M shares outstanding

26M 50M
Nov 03, 2022

10-Q filing | 174.1M shares outstanding

170M 50M
Aug 03, 2022

10-Q filing | 172.8M shares outstanding

170M 50M
May 06, 2022

10-Q filing | 172.5M shares outstanding

170M 50M
Apr 19, 2022

POS AM filing: This is a POS AM filing for Butterfly Network, Inc. registering the issuance of Class A common stock upon exercise of warrants, and the resale of Class A and Class B common stock and warrants by selling securityholders.

200M 50M
Mar 01, 2022

POS AM filing: This is a POS AM filing for the issuance and resale of Class A and Class B common stock and warrants.

200M 50M
Feb 28, 2022

10-K filing | 173.8M shares outstanding

170M 220M
Nov 15, 2021

10-Q filing | 170.6M shares outstanding

170M 220M
Aug 09, 2021

10-Q filing | 165.8M shares outstanding

170M 220M
May 17, 2021

10-Q filing | 164.9M shares outstanding

160M 220M
May 12, 2021

S-1/A filing: This S-1/A filing registers the issuance of Class A common stock upon exercise of warrants, resale of Class A and Class B common stock, and warrants offered by selling securityholders.

190M 220M
Mar 29, 2021

10-K filing | 164.9M shares outstanding

160M 230M
Mar 29, 2021

S-1 filing: This S-1 filing includes the issuance of Class A common stock upon exercise of warrants, resale of Class A and Class B common stock, and resale of warrants by selling securityholders.

190M 230M
Feb 16, 2021

8-K filing: Butterfly Network, Inc. files an 8-K detailing the completion of a PIPE financing where 17,500,000 shares of Class A Common Stock were sold at $10.00 per share, generating gross proceeds of $175,000,000. Also detailed are amendments to the registration rights agreement, lock-up agreements, and indemnification agreements. ($175.0M proceeds)

1.9M 50M
Nov 23, 2020

8-K filing: Longview Acquisition Corp. entered into a business combination agreement with Butterfly Network, Inc., involving a merger and related transactions, including PIPE financing and forward purchase agreements, to ultimately rename Longview as Butterfly Network, Inc. ($175.0M proceeds)

1.9M 50M
Nov 20, 2020

8-K filing: Longview Acquisition Corp. announced a proposed business combination with Butterfly Network, Inc. and entered into subscription agreements with PIPE Investors to purchase 17,500,000 shares of Class A common stock at $10.00 per share, for gross proceeds of $175,000,000. ($175.0M proceeds)

1.9M 50M
Nov 16, 2020

10-Q filing | 1.9M shares outstanding

1.9M 50M
Aug 14, 2020

10-Q filing | 10.4M shares outstanding

10M 50M
Jul 02, 2020

8-K filing: Longview Acquisition Corp. completed its initial public offering of 36,000,000 units at $10.00 per unit, generating gross proceeds of $360,000,000, and the underwriters exercised their over-allotment option, purchasing an additional 5,400,000 units in two tranches, with Longview Investors LLC purchasing additional private placement warrants. ($424.28M proceeds)

8.6M 50M
Jun 11, 2020

8-K filing: Longview Acquisition Corp. consummated its initial public offering of 36,000,000 units at $10.00 per unit, generating gross proceeds of $360,000,000, and the underwriters partially exercised their over-allotment option and purchased an additional 4,000,000 units, generating gross proceeds of $40,000,000. Simultaneously with the closing of the IPO, the Company completed the private sale of 6,133,333 warrants to Longview Investors LLC at $1.50 per warrant, generating gross proceeds of $9,200,000, and in connection with the over-allotment option, the Sponsor purchased an additional 533,333 Private Placement Warrants, generating gross proceeds of $800,000. ($410.0M proceeds)

8.6M 50M
Jun 01, 2020

8-K filing: Longview Acquisition Corp. consummated its initial public offering of 36,000,000 units at $10.00 per unit and a private placement with Longview Investors LLC of 6,133,333 private placement warrants at $1.50 per warrant. ($369.2M proceeds)

8.6M 50M
May 27, 2020

8-K filing: Longview Acquisition Corp. consummated its IPO of 36,000,000 units at $10.00 per unit, generating gross proceeds of $360,000,000, and simultaneously consummated a private placement of 6,133,333 private placement warrants to the Sponsor at $1.50 per warrant, generating proceeds of $9,200,000. ($519.2M proceeds)

8.6M 50M
May 18, 2020

S-1/A filing: Longview Acquisition Corp. is offering 30,000,000 units at $10.00 per unit, each unit consisting of one share of Class A common stock and one-third of one redeemable warrant to purchase one share of Class A common stock in an initial public offering.

8.6M 50M
May 01, 2020

S-1 filing: Longview Acquisition Corp. is a blank check company offering 30,000,000 units at $10.00 per unit in an initial public offering, with each unit consisting of one share of Class A common stock and one-third of one redeemable warrant.

N/A 50M
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