Nano-X Imaging Ltd.
NASDAQ•NNOX
CEO: Mr. Erez I. Meltzer
Sector: Healthcare
Industry: Medical - Devices
Listing Date: 2020-08-21
Nano-X Imaging Ltd. develops a commercial-grade tomographic imaging device with a digital X-ray source. The company provides teleradiology services and develops artificial intelligence applications to be used in real-world medical imaging applications. Its X-ray source is based on a digital micro-electro-mechanical systems semiconductor cathode. The company's solutions include Nanox Multi Source System comprising Nanox.ARC, a medical tomographic imaging system incorporating its digital X-ray source, and Nanox. CLOUD, a platform which employs a matching engine to match medical images to radiologists that provides image repository, connectivity to diagnostic assistive AI systems, billing, and reporting. It also offers Nanox.MARKETPLACE, which connects imaging facilities with radiologists and enables radiologists to provide, as well as customers to obtain remote interpretations of imaging data; artificial intelligence (AI)-based software imaging solutions to hospitals, health maintenance organizations, integrated delivery networks, pharmaceutical companies, and insurers that are designed to identify or predict undiagnosed or underdiagnosed medical conditions through the mining of data included in images of existing computed tomography scans for osteoporosis and cardiovascular disease; Teleradiology Services, which provide imaging interpretation services for radiology practices, hospitals, medical clinics, diagnostic imaging centers, urgent care facilities; and multi-specialty physician groups, contracts, and radiology readings. The company is headquartered in Petach Tikva, Israel.
Contact Information
94 Shlomo Shmeltzer Road, Ofer Tech Park, Petah Tikva, 4970602, Israel
972-3-373-59202
Market Cap
$193.84M
P/E (TTM)
-3.5
32.6
Dividend Yield
--
52W High
$9.20
52W Low
$2.76
52W Range
Rank52Top 73.5%
2.9
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Weak • 2.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2025
Financial Dashboard
Q3 2025 Data
Revenue
$3.45M+13.73%
4-Quarter Trend
EPS
-$0.21-8.70%
4-Quarter Trend
FCF
-$13.92M+57.04%
4-Quarter Trend
2024 Annual Earnings Highlights
Key Highlights
Revenue Grows Despite Losses Total revenue reached $11.3M USD in 2024, marking a 14.0% increase from $9.9M USD reported in 2023.
Net Loss Narrows Significantly Net loss improved to $53.5M USD in 2024, reflecting a $7.3M USD reduction compared to the prior year's $60.8M USD loss.
Key FDA Clearance Achieved Company received FDA 510(k) clearance in December 2024 for general use Nanox.ARC, supporting broader clinical deployment.
Capital Raised Through Offerings Secured $39.5M USD net cash from financing activities in 2024, supporting ongoing development and commercialization efforts.
Risk Factors
Initial Stage Investment Risk Initial launch-stage status means continued significant losses; investors face high probability of losing entire investment capital.
Reimbursement Coverage Lacking Nanox.ARC lacks widespread third-party payor coverage; failure to obtain adequate reimbursement severely limits potential revenue generation.
Manufacturing Third-Party Reliance Reliance on external manufacturers for Nanox.ARC parts introduces risks of increased costs, quality issues, or failure to meet timely delivery schedules.
Geopolitical and Economic Volatility Ongoing conflict in the Middle East and global economic instability pose material risks to supply chains and operational continuity.
Outlook
Pursuing Three Business Models Strategy focuses on executing three simultaneous models: Subscription (MSaaS), CapEx sales, and Licensing (OEM) for technology adoption.
R&D Expenses Expected Increase Expect research and development expenses to increase substantially over next several years for Nanox System improvement and expansion.
Global Deployment Strategy Plan to deploy Nanox System globally, focusing initial commercialization efforts and sales team expansion within select U.S. states.
AI Integration Advancement Developing new AI algorithms, including a pulmonary solution specifically designed for integration with the Nanox.ARC hardware.
Peer Comparison
Revenue (TTM)
INGN$347.03M
$254.79M
$130.10M
Gross Margin (Latest Quarter)
86.8%
BWAY75.2%
66.3%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| BWAY | $470.56M | 74.5 | 9.5% | 6.0% |
| SOPH | $352.39M | -4.7 | -93.9% | 38.8% |
| QTRX | $334.45M | -3.5 | -30.5% | 9.0% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
4.7%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention
Research & Insights
Next earnings:Mar 30, 2026
EPS:-
|Revenue:-
Reports
All Years
Form 20-F - FY 2024
Period End: Dec 31, 2024|Filed: Apr 9, 2025|Revenue: $11.28M+13.9%|EPS: $-0.91+15.7%MissForm 20-F - FY 2023
Period End: Dec 31, 2023|Filed: Apr 22, 2024|Revenue: $9.91M+15.5%|EPS: $-1.08+46.3%MeetForm 20-F - FY 2022
Period End: Dec 31, 2022|Filed: May 1, 2023|Revenue: $8.58M+557.8%|EPS: $-2.01-57.0%MissForm 20-F - FY 2021
Period End: Dec 31, 2021|Filed: May 2, 2022|Revenue: $1.30M+0.0%|EPS: $-1.28-4.9%BeatForm 20-F - FY 2020
Period End: Dec 31, 2020|Filed: Apr 6, 2021|Revenue: $0.00+0.0%|EPS: $-1.22-149.0%N/A