Butterfly Network Partners with Midjourney for $74M Scanner Deal, Shares Soar 32%
BFLY•Butterfly Network will earn up to $74 million over five years under a co-development agreement licensing 40 Ultrasound-on-Chip modules per system to Midjourney for its full-body scanner prototype. The announcement propelled BFLY shares up 32% to a four-year high as retail sentiment turned extremely bullish.
1. Co-development Agreement and Financial Terms
The agreement signed last year licenses 40 Ultrasound-on-Chip imaging modules per scanner to Midjourney, under which Butterfly stands to earn up to $74 million over five years.
2. Midjourney Scanner Prototype and Spa Plans
Midjourney's body-scanning system uses roughly half a million sensors and 40 Butterfly modules, offering radiation-free, low-cost tomographic imaging, with a flagship health facility in San Francisco set to open late 2027 featuring ten scanners.
3. Market Reaction and Stock Performance
Following the announcement, Butterfly shares climbed 32% to a four-year high, retail sentiment turned extremely bullish and BFLY has nearly doubled year-to-date, outperforming the broader market.
