XML 104 R83.htm IDEA: XBRL DOCUMENT
v3.21.1

Income Taxes (Tables) | 11 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2020 | Dec. 31, 2020
Schedule of reconciliation of the statutory income tax rate to the effective income tax rate | A reconciliation of the federal income tax rate to the Company’s effective tax rate at December 31, 2020 is as follows:
|  | December 31, |
|  | 2020 |
|  | (As Restated) |
Statutory federal income tax rate |  | 21.0 | %
State taxes, net of federal tax benefit |  | 0.0 | %
Permanent difference-warrant liability |  | -20.46 | %
Change in valuation allowance |  | -0.57 | %
Income tax provision |  | -0.03 | %
Schedule of net deferred tax assets | The Company’s net deferred tax assets are as follows:
|  | December 31,
|  | 2020
Deferred tax asset |  |  |
Net operating loss carryforward |  | $ | —
Organizational costs/Startup expenses |  |  | 754,457
Total deferred tax asset |  |  | 754,457
Valuation allowance |  |  | (754,457)
Deferred tax asset, net of allowance |  | $ | —
BFLY Operations Inc |  |
Schedule of income (loss) before provision for income taxes |  | Income (loss) before provision for income taxes consisted of the following (in thousands):
|  | Year Ended December 31,
|  | 2020 |  | 2019
Federal |  | $ | (162,876) |  | $ | (98,833)
Foreign |  |  | 170 |  |  | (864)
Loss before provision for income taxes |  | $ | (162,706) |  | $ | (99,697)
Schedule of reconciliation of the statutory income tax rate to the effective income tax rate |  | A reconciliation of the Company’s statutory income tax rate to the Company’s effective income tax rate is as follows:
|  | Year Ended December 31, |
(In Thousands) |  | 2020 |  | 2019 |
Income at US Statutory Rate |  | 21.00 | % | 21.00 | %
State Taxes, net of Federal benefit |  | 3.18 | % | 3.30 | %
Permanent Differences |  | (0.70) | % | (0.44) | %
Tax Credits |  | 0.86 | % | 1.32 | %
Foreign Rate Differential |  | 0.00 | % | (0.01) | %
Valuation Allowance |  | (24.35) | % | (25.04) | %
Other |  | (0.01) | % | (0.13) | %
|  | (0.02) | % | 0.00 | %
Schedule of net deferred tax assets |  | Net deferred tax assets as of December 31, 2020 and 2019 consisted of the following (in thousands):
|  | Year Ended December 31,
(In Thousands) |  | 2020 |  | 2019
Deferred tax assets |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 83,058 |  | $ | 52,717
Tax Credits |  |  | 6,582 |  |  | 5,271
Stock Compensation |  |  | 4,088 |  |  | 2,346
Accruals & Reserves |  |  | 7,293 |  |  | 1,785
Other |  |  | 853 |  |  | 154
Total Deferred tax assets |  | $ | 101,874 |  | $ | 62,273
Valuation Allowance |  |  | (101,773) |  |  | (62,157)
Total Deferred tax assets |  | $ | 101 |  | $ | 116
Deferred tax liabilities |  |  |  |  |  |
Depreciation |  |  | (101) |  |  | (116)
Net deferred tax assets |  | $ | — |  | $ | —

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=bfly_BflyOperationsIncMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |