Butterfly Network (NYSE:BFLY) reported third-quarter 2026 revenue of $32.6 million, up 52% from a year earlier and 9% above the high end of its guidance. Growth came from its Embedded business and enterprise-focused point-of-care ultrasound sales. Embedded revenue reached $11.1 million, up more than 1,000%, driven by the Midjourney partnership and new deals with Merge Labs and Bridge Neurotech. Core revenue rose 5% to $21.5 million. International revenue fell 5% to $5.1 million. Gross profit hit a record $23.8 million. The adjusted EBITDA loss narrowed to $1.2 million from $8.1 million. The company raised its full-year revenue outlook to $123 million–$126 million and expects an adjusted EBITDA loss of $12 million–$15 million. It had $122 million in cash at the end of September.

Mendaera has launched a version of its Focalist system compatible with Butterfly Network's Ultrasound-on-Chip technology. This marks the first Butterfly Embedded partner technology to reach the market. Mendaera's FDA-cleared Focalist system combines handheld robotics, real-time imaging, and intelligent guidance software for image-guided needle procedures, including vascular access, regional nerve blocks, and organ access. The collaboration brings together imaging and robotics technologies with the aim of advancing digitally native, AI-enabled intervention. Butterfly's software-defined architecture enables a path towards AI-enabled image interpretation and robotic action. Mendaera and Butterfly will both exhibit at the American College of Emergency Physicians Scientific Assembly on 5-7 October 2026 in Chicago, Illinois.

Butterfly Network is commercialising AI-enhanced ultrasound devices designed to assist clinicians with real-time scan guidance. The company generates approximately $112 million in revenue from its handheld iQ devices and related software platforms, including Compass AI and ScanLab, with a market capitalisation of roughly $2.2 billion. In November 2025, Butterfly's subsidiary signed a five-year co-development and licensing agreement with Midjourney for exclusive access to its semiconductor-based ultrasound technology. The deal includes a $15 million upfront payment, $10 million in annual licence fees, and additional milestone-based payments. Pfizer, with $63.7 billion in recent revenue and a market value of $158.1 billion, is applying biomolecular AI foundation models to accelerate drug discovery and development across its Global Biopharmaceuticals Business segment. The company combines large-scale therapeutic operations with machine learning applications in molecule design, trial productivity, and manufacturing efficiency.