Nano-X Imaging Ltd. ( (NNOX) ) has released its Q1 earnings. Here is a breakdown of the information Nano-X Imaging Ltd. presented to its investors.
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Nano-X Imaging Ltd. is an innovative medical imaging technology company focused on providing affordable imaging solutions through advanced AI and proprietary digital X-ray sources. Operating in the healthcare technology sector, the company aims to enhance preventive healthcare by improving access to essential medical imaging technologies.
In its first quarter of 2025, Nano-X Imaging Ltd. reported revenue growth and significant regulatory achievements. The company generated $2.8 million in revenue, a slight increase from the previous year, and received 510(k) clearance from the FDA for its updated Nanox.ARC X system. Additionally, the company signed multiple commercial agreements to expand the reach of its imaging and AI solutions.
Key financial metrics for the quarter included a net loss of $13.2 million, up from $12.2 million in the same period last year, primarily due to increased gross loss. Despite the overall net loss, the company’s teleradiology services showed a positive trend with increased revenue and improved gross profit margins, attributed to customer retention and increased service volumes. The company also experienced a decrease in research and development expenses, reflecting a shift towards commercialization efforts.
Looking forward, Nano-X aims to expand its deployment of imaging units worldwide, with expectations to have over 100 units in various stages of deployment by the end of 2025. The company remains focused on accelerating the deployment of its technologies and maximizing its market reach through strategic collaborations and direct sales efforts.