Total revenue increased by 19.0% to $97.6 million in 2025, up from $82.1 million in 2024. Product revenue grew by 17.1% to $63.4 million in 2025, primarily due to the launch of Butterfly iQ3 and iQ3 Vet probes. Software and other services revenue increased by 22.7% to $34.2 million in 2025, driven by Butterfly Embedded partnerships. Net loss for 2025 was $77.1 million, an increase from $72.5 million in 2024. Gross profit decreased to $45.7 million in 2025 from $48.8 million in 2024, with gross margin falling from 59.5% to 46.9%. A non-recurring charge of $17.4 million for excess and obsolete inventory significantly impacted cost of product revenue in 2025. Operating expenses totaled $132.1 million in 2025, up from $123.2 million in 2024. Research and development expenses decreased by 4.1% to $36.3 million in 2025. Sales and marketing expenses increased by 10.4% to $45.9 million in 2025. General and administrative expenses decreased by 1.4% to $39.2 million in 2025. Other operating expenses surged by 165.1% to $10.8 million in 2025, mainly due to $7.1 million in higher legal costs, including a $3.0 million accrued loss contingency. Cash and cash equivalents stood at $150.5 million as of December 31, 2025, benefiting from an $81.0 million net capital raise in January 2025. The company entered into a Co-Development and Licensing Agreement with Midjourney, Inc. in November 2025, including a $15 million one-time fee and a $10 million annual license fee.