New York, June 19, 2026, 05:03 (EDT)
- Butterfly Network finished Thursday at $8.90, rising 55.9% for the week. The shares started a four-day stretch at $5.54.
- Thursday’s rally was the last action for U.S. equities this week, with markets closed Friday for Juneteenth. Trading picks up again next week.
- Shares jumped after Midjourney said it had a new scanner and Butterfly revealed the prototype includes 40 Ultrasound-on-Chip modules.
Butterfly Network stock jumped in the holiday-shortened U.S. week as Midjourney launched a full-body ultrasound device built with Butterfly’s chip imaging tech. That five-year licensing agreement is back in focus for the company.
NYSE and Nasdaq didn’t trade Friday for Juneteenth, so Thursday’s closing numbers are the latest. Butterfly shares closed at $8.90, jumping 55.9% Thursday and up around 61% from June 12. Nearly 59 million shares changed hands, much heavier than usual volume.
This wasn’t just a medtech move. Butterfly shares got repriced on its “embedded” pitch—licensing its ultrasound chip and software to partners—after Midjourney showed the technology could drive uses beyond hospitals or clinics.
Butterfly said its current Midjourney scanner prototype has 40 Butterfly Ultrasound-on-Chip imaging modules in each system. The company also said next versions are set to use “substantially more” modules. Investors picked up on that, since a higher chip count, if commercialized, could impact the company’s revenue mix beyond just probe sales. Business Wire
The deal isn’t new. In a November 2025 SEC filing, Midjourney said it would pay Butterfly a $15 million one-off fee and a $10 million yearly license, paid out quarterly. There’s another $9 million possible on hitting certain milestones, and the agreement includes revenue share and chip-buy payments if Midjourney moves hardware using Butterfly chips into commercialization.
Butterfly CEO Joseph DeVivo called the scanner a “potentially meaningful commercial opportunity” for the company. He said Butterfly was proud to back Midjourney’s efforts to “democratize access to personal imaging data.” Midjourney’s public roadmap says scans should take no more than 60 seconds. It also points to a first San Francisco spa planned for 2027. Business Wire Midjourney
Prototype is still a long way from a medical device cleared by regulators. Midjourney says it’s launching with detailed body-composition scans, and plans to hand over test data to the FDA if it wants to expand features. Founder David Holz told Business Insider the firm is figuring out pricing and data rules.
Butterfly focuses on point-of-care ultrasound, with its main offering aimed at scans performed at the bedside instead of sending patients to a radiology suite. Key competitors are GE HealthCare’s Vscan Air, Philips’ Lumify and Clarius handhelds. Butterfly says its semiconductor tech could make ultrasound devices cheaper and easier to move.
Butterfly’s first-quarter revenue climbed 25% to $26.5 million, but the company still reported a net loss of $12.7 million. For 2026, Butterfly is guiding revenue between $117 million and $121 million, and expects an adjusted EBITDA loss of $21 million to $25 million. Adjusted EBITDA leaves out interest, taxes, depreciation, amortization and certain items. The financial base is still small for a stock that traded like a platform company.
The market is already pricing in revenue that might not show up for years—if ever. Butterfly’s own risk statements single out Midjourney’s ability to get the scanner built, cleared by regulators, and sold. Business Insider quoted doctors saying frequent full-body scans could trigger false positives, anxiety, and extra follow-ups unless handled in a clinical setting. Business Wire
Looking ahead to this week, the focus is on whether buyers show up once U.S. markets start trading again. Just having a flashy demo won’t be enough for the stock. Investors want to see more on FDA timelines, production capacity, chip supply deals, and if Midjourney’s scanner can become reimbursed and actually useful in clinics.
