BFLY Surges 33% on Midjourney Full-Body Scanner Deal

Butterfly Network shares jumped 33% to a new 52-week high Monday after Midjourney Medical announced a full-body tomographic imaging scanner that uses 40 of Butterfly's Ultrasound-on-Chip modules. The stock hit $8.01 in early trading before settling near $7.61 on volume of 16 million shares, more than three times the average.

The scanner prototype, called The Midjourney Scanner, incorporates 40 Butterfly Ultrasound-on-Chip imaging modules per system under a co-development agreement. Future versions are expected to use more modules as the platform scales. Butterfly filed the terms of the deal in a November 2025 Form 8-K, which disclosed up to $74 million in expected payments to Butterfly over five years.

Butterfly management plans to discuss the collaboration at 12:00 p.m. EDT today during an Emerging Growth Webinar with TD Cowen.

The partnership runs through Butterfly Embedded, the company's licensing and co-development business formerly called Octiv. Butterfly's core technology is a single-probe, whole-body portable ultrasound device now in its third generation, the Butterfly iQ3. The company also sells cloud software, AI tools, and an enterprise workflow platform called Compass AI.

The global medical devices market is projected to grow from $678.88 billion in 2025 to nearly $1.21 trillion by 2035, according to Precedence Research, a compound annual growth rate of about 5.9%.