Nano-X Imaging Ltd. · Q1 2025 earnings

Briefing

Nanox Q1 2025: $2.8M revenue as FDA clears Nanox.ARC X and commercial pipeline expands

NANO-X IMAGING LTD reported first quarter 2025 results on May 22 with revenue of $2.8 million, up from $2.6 million in Q1 2024, generated through teleradiology services, imaging system sales and deployment, and AI solutions. The company posted a net loss of $13.2 million versus $12.2 million a year ago, with non-GAAP net loss attributable to ordinary shares of $9.4 million compared with $8.1 million. GAAP gross loss was $3.0 million on a (108%) gross loss margin, while non-GAAP gross loss was $0.4 million. Management highlighted FDA 510(k) clearance for Nanox.ARC X, multiple new commercial agreements, and over 60 Nanox.ARC units in various stages of implementation. Cash, cash equivalents, short-term and long-term deposits, restricted deposits and marketable securities totaled $72.9 million at March 31, 2025.

• Revenue rose to $2.8 million from $2.6 million, including $2.6 million from teleradiology, $33 thousand from imaging systems, and $0.2 million from AI solutions.
• Net loss was $13.2 million versus $12.2 million; non-GAAP net loss attributable to ordinary shares was $9.4 million versus $8.1 million.
• GAAP and non-GAAP basic and diluted loss per share were $0.21 and $0.15, respectively, in Q1 2025.
• FDA cleared Nanox.ARC X and the company signed multiple commercial agreements while tracking over 60 units in implementation.
• Total liquidity was $72.9 million at quarter end; management targets more than 100 deployed units by year-end 2025.

Headline financials

Revenue & EPS history

Assuming stable macro conditions, Nanox anticipates clinical, demo, and commercial units in deployment will grow to over 100 worldwide by the end of 2025.