Nano-X Imaging remains a 'sell' due to weak revenue growth, worsening losses, and limited traction in its core business. NNOX's advanced imaging technology and AI offerings have yet to translate into significant sales, with most revenue still from teleradiology services. Recent partnerships and acquisitions, including VasoHealthcare IT and European distribution deals, offer potential but lack a clear financial impact.
Nano-X Imaging Ltd. ( NNOX ) Q3 2025 Earnings Call November 20, 2025 8:30 AM EST Company Participants Mike Cavanaugh - IR-ICR Westwicke Erez Meltzer - CEO & Acting Chairman of the Board Ran Daniel - Chief Financial Officer Conference Call Participants Ross Osborn - Cantor Fitzgerald & Co., Research Division Jeffrey Cohen - Ladenburg Thalmann & Co. Inc., Research Division Scott Henry - Alliance Global Partners, Research Division Presentation Operator Good day, and thank you for standing by.
Nano-X Imaging Ltd.'s Q2 results missed expectations, with revenue, EPS, and adjusted EPS all falling short and losses widening year-over-year. Despite regulatory progress and some revenue growth, core fundamentals remain weak, and cash burn is unsustainable without further dilution or new capital. Management's limited guidance and unchanged unit growth outlook highlight ongoing operational and macroeconomic challenges, making near-term improvement unlikely.
| Health Care Equipment & Supplies Industry | Healthcare Sector | Erez I. Meltzer CEO | NASDAQ (NMS) Exchange | M70700105 CUSIP |
| IL Country | 165 Employees | - Last Dividend | - Last Split | 21 Aug 2020 IPO Date |
Nano-X Imaging Ltd., incorporated in 2018 and headquartered in Neve Ilan, Israel, is at the forefront of developing innovative medical imaging technology. Its cornerstone invention is a commercial-grade tomographic imaging device equipped with a digital X-ray source. This technology leapfrogs the conventional analog methods by utilizing a digital micro-electro-mechanical systems (MEMS) semiconductor cathode, setting a new benchmark for efficiency and clarity in medical imaging. The company’s mission extends beyond the device itself, as it aims to democratize medical imaging worldwide through advanced teleradiology services and the integration of artificial intelligence (AI) applications. These applications are meticulously designed to enhance the accuracy and applicability of medical imaging in diagnosing and predicting various medical conditions, thereby revolutionizing patient care and medical research.
This integrated system represents the company’s flagship offering, combining the Nanox.ARC, a state-of-the-art medical tomographic imaging system that includes Nano-X's digital X-ray source, with the Nanox.CLOUD platform. Together, they create a comprehensive ecosystem for medical imaging that not only captures superior quality images but also facilitates their storage, analysis, and sharing. The platform uses a sophisticated matching engine to connect the captured medical images with radiologists, streamlining the diagnostic process. It supports diagnostic assistive AI systems, billing, and generates reports, enhancing the overall efficiency of medical imaging services.
This innovative platform acts as a bridge connecting imaging facilities with radiologists. It simplifies the process of obtaining remote interpretations of imaging data, thereby improving accessibility to quality diagnostic services. The marketplace is instrumental in ensuring that imaging facilities can effectively meet the demand for radiology services without geographical limitations, making it a strategic tool in global healthcare delivery.
Nano-X Imaging Ltd. also offers AI-driven imaging solutions tailored for hospitals, health maintenance organizations (HMOs), integrated delivery networks, pharmaceutical companies, and insurers. These solutions leverage AI technology to mine data from existing computed tomography scans, aiming to identify or predict undiagnosed or underdiagnosed medical conditions such as osteoporosis and cardiovascular diseases. The deployment of these AI solutions in clinical settings represents a monumental leap towards proactive healthcare, facilitating early diagnosis and informed decision-making.
The company's teleradiology services underscore its commitment to making high-quality diagnostic imaging accessible across the globe. By providing remote imaging interpretation services for a wide range of clients, including radiology practices, hospitals, medical clinics, and urgent care facilities, Nano-X Imaging Ltd. ensures that expert radiological analysis can be delivered promptly, regardless of the patient’s location. This service significantly contributes to the enhancement of patient care by enabling timely and accurate diagnoses.