The 31-year-old had set a record of 11 consecutive title defences — but that ended with shock defeat to Henry Cejudo.
But he could face months out of the octagon after his brutal double injury.
Despite this, Johnson was not too upset following the third defeat in his career.
The 'Mighty Mouse' told Middle Easy: "I'm fine. Losing happens. Every great champion loses. I've lost before when I fought Dom [Dominick Cruz]. I lose in the gym. So I'm fine.
"I'm more upset about the injures, but other than that I'm okay.
"I think I probably tore my right LCL in the second or third round. I remember we were scrambling and I maybe shot and then he kind of pushed me over and I rolled over on my right knee and I was like 'there goes the right LCL'.
"And the foot, that's just from kicking and kicking and kicking and kicking."
Johnson's loss to Cejudo was his first in nearly seven years, last losing to Cruz for the bantamweight title.
He stepped down to 125 pounds to take on Ian McCall, with their first match ending in a draw, before beating him to set up a title decider against Joseph Benavidez.
Victory against the Texan saw Johnson become the first flyweight champion.
Since then, the Kentucky-born star successfully defended his title 11 times, a UFC record, including in his first bout with Cejudo during UFC 197 in April 2016.
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