Nano-X Imaging Ltd. ( (NNOX) ) has released its Q3 earnings. Here is a breakdown of the information Nano-X Imaging Ltd. presented to its investors.
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Nano-X Imaging Ltd., a leader in innovative medical imaging technology, focuses on providing affordable solutions for preventive healthcare using advanced AI and digital imaging technologies. The company, headquartered in Israel, aims to expand its technology beyond hospitals, leveraging AI for smarter diagnostics.
In its third-quarter 2024 earnings report, Nano-X Imaging Ltd. reported a revenue increase to $3.0 million, up from $2.5 million in the same period last year. The company is making strides in deploying its Nanox.ARC and Nanox.AI technologies, expanding its U.S. sales and support teams, and pursuing global growth through strategic partnerships and regulatory advancements.
Key financial highlights include a net loss reduction to $13.6 million from $21.4 million in the previous year, attributed mainly to decreased expenses from goodwill impairment. Revenue grew across teleradiology services and AI solutions, despite a gross loss margin of 93% on a GAAP basis. The company continues to invest in research and development, while managing expenses in sales and marketing.
Looking ahead, Nano-X Imaging Ltd. remains focused on securing regulatory approvals in the U.S. and Europe, which it believes will significantly expand its market reach. The company’s growing infrastructure in sales and support positions it well for continued commercial momentum into 2025 and beyond.
