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Nano-X Imaging (NNOX)
NASDAQ:NNOX
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Nano-X Imaging
(NASDAQ:NNOX)
39Underperform
Nano-X Imaging (NNOX) vs. S&P 500 (SPY)
Market Cap
$318.24M
Dividend YieldN/A
Average Volume (3M)2.50M
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue Growth10.79%
EPS Growth51.30%
CountryUS
Employees164
SectorHealthcare
Sector Strength78
IndustryMedical Equipment & Supplies
Share Statistics
EPS (TTM)-0.85
Shares Outstanding58,500,000
10 Day Avg. Volume2,106,325
30 Day Avg. Volume2,495,335
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)31.67
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$17.50Price Target Upside220.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Nano-X Imaging Business Overview & Revenue Model
Company DescriptionNano X Imaging Ltd is engaged in the business of manufacturing medical imaging systems. It offers Nanox System which is a combination of hardware and software.
How the Company Makes MoneyNano-X Imaging makes money primarily through the sale of its innovative digital X-ray systems, known as the Nanox.ARC. The company employs a pay-per-scan business model, where healthcare providers pay for each scan performed using the Nanox.ARC, rather than purchasing the equipment outright. This model allows for lower initial costs for providers, making it more accessible to a wider range of healthcare facilities. Additionally, Nano-X Imaging generates revenue through service fees for maintenance and support of its imaging systems. The company may also engage in partnerships with healthcare providers and distributors to expand its market reach and enhance its revenue streams.
Nano-X Imaging Financial Statement Overview
Summary
Nano-X Imaging is experiencing growth in revenue but faces significant challenges in achieving profitability. The balance sheet reflects a strong equity position but is undermined by poor return metrics. Cash flow issues are evident, with negative free cash flow and reliance on financing. The company needs to improve operational efficiency and profitability to enhance its financial health.Income Statement
The company has shown a consistent increase in revenue over the years, but it still operates at a significant loss. In the TTM period, the gross profit margin is negative, indicating high costs relative to revenue. The net profit margin also remains negative, showing persistent profitability challenges. Despite revenue growth, the firm is struggling to manage expenses and achieve profitability.30
Negative
Balance Sheet
The company maintains a strong equity position with a high equity ratio, indicating a solid capital structure. However, the debt-to-equity ratio is relatively low, which is positive but reflects limited leverage capacity. The negative net income impacts the return on equity, which remains unfavorable. Despite a decent asset base, profitability issues persist.40
Negative
Cash Flow
Operating cash flow is negative, indicating operational cash consumption. The free cash flow has improved slightly compared to previous years but remains negative, highlighting ongoing cash burn. The company relies on financing activities to support operations, indicating potential sustainability challenges without external funding.35
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 10.68M | 9.90M | 8.58M | 1.30M | 0.00 | 0.00 | Gross Profit |
| -9.53M | -6.59M | -6.88M | -1.51M | -208.00K | -53.00K | EBIT |
| -54.99M | -62.59M | -109.71M | -61.56M | -43.92M | -22.57M | EBITDA |
| -40.50M | -47.69M | -75.70M | -59.27M | -43.61M | -22.52M | Net Income Common Stockholders |
| -49.70M | -60.78M | -105.24M | -61.80M | -43.50M | -22.55M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 5.00K | 82.38M | 77.62M | 88.71M | 213.47M | 8.07M | Total Assets |
| 0.00 | 218.65M | 253.93M | 363.17M | 236.15M | 11.87M | Total Debt |
| 0.00 | 8.40M | 4.62M | 5.77M | 1.44M | 526.00K | Net Debt |
| 5.00K | -47.98M | -33.84M | -60.87M | -212.03M | -7.55M | Total Liabilities |
| 0.00 | 23.13M | 29.25M | 71.02M | 5.40M | 20.65M | Stockholders Equity |
| -6.38M | 195.51M | 224.68M | 292.15M | 230.75M | -8.78M |
| Cash Flow | Free Cash Flow | ||||
| -40.26M | -48.08M | -50.56M | -61.23M | -35.42M | -5.65M | Operating Cash Flow |
| -38.03M | -44.78M | -43.38M | -38.07M | -21.49M | -5.52M | Investing Cash Flow |
| 8.27M | 35.43M | 14.61M | -116.32M | -13.94M | -125.00K | Financing Cash Flow |
| 1.70M | 27.25M | 804.00K | 7.38M | 240.99M | 13.86M |
Nano-X Imaging Technical Analysis
Negative
5.46
Price Trends
7.27
Negative
6.85
Negative
6.99
Negative
Market Momentum
-0.44
Positive
35.91
Neutral
16.50
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NNOX, the sentiment is Negative. The current price of 5.46 is below the 20-day moving average (MA) of 6.23, below the 50-day MA of 7.27, and below the 200-day MA of 6.99, indicating a bearish trend. The MACD of -0.44 indicates Positive momentum. The RSI at 35.91 is Neutral, neither overbought nor oversold. The STOCH value of 16.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NNOX.
Nano-X Imaging Risk Analysis
Nano-X Imaging disclosed 73 risk factors in its most recent earnings report. Nano-X Imaging reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Nano-X Imaging Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $21.37B | 24.22 | 7.24% | 0.89% | 3.84% | -9.29% | |
68 Neutral | $39.14B | 19.71 | 25.60% | 0.15% | 0.61% | 43.28% | |
67 Neutral | $14.04B | 19.80 | 15.78% | ― | 1.75% | 50.25% | |
50 Neutral | $58.65M | ― | -17.56% | ― | -14.70% | 67.34% | |
49 Neutral | $6.90B | 0.02 | -54.05% | 2.46% | 24.91% | -3.14% | |
43 Neutral | $2.34B | ― | -46.67% | ― | 18.82% | 19.76% | |
39 Underperform | $318.24M | ― | -27.17% | ― | 10.79% | 51.30% |
* Healthcare Sector Average
Performance Comparison
NNOX
Nano-X Imaging
5.46
-4.38
-44.51%
HOLX
Hologic
61.10
-15.23
-19.95%
ICAD
iCAD
2.32
0.52
28.89%
ZBH
Zimmer Biomet Holdings
104.03
-21.48
-17.11%
NVCR
NovoCure
20.62
5.80
39.14%
GEHC
GE Healthcare Technologies Inc
83.79
-4.56
-5.16%
Nano-X Imaging Earnings Call Summary
Earnings Call Date: Mar 4, 2025 | % Change Since: -4.38% | Next Earnings Date: May 13, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted substantial progress in the deployment and expansion of Nanox.ARC, significant growth in AI solutions, and record revenue from the USARAD business. However, challenges such as increased gross loss and ongoing regulatory delays were noted. The company remains optimistic about future growth and milestones.Highlights
Expansion and Deployment of Nanox.ARC
Nanox deployed 47 units of its Nanox.ARC technology, with expansion across 7 states in the U.S. and strategic plans to double the pipeline and sales efforts.
Significant Growth in AI Solutions
Nanox AI secured new deals, including Oxford University Hospitals and received recognition in Time's Best Inventions of 2024 List. Revenue from AI solutions increased to $0.4 million from $0.1 million in the previous period.
Record Revenue from USARAD Business
The USARAD division generated a record $2.6 million in revenue for the quarter, showing continued growth and contribution to overall business lines.
Regulatory and Clinical Progress
Progress in regulatory efforts with the FDA and European Union, with ongoing trials in multiple locations such as Beilinson Hospital and Ghana.
Lowlights
Increased Gross Loss
The company reported a gross loss of $2.8 million on a GAAP basis, compared to $1.7 million in the same period last year.
Decrease in Research and Development Expenses
R&D expenses decreased from $6.0 million to $4.7 million due to reductions in salaries, share-based compensation, and other R&D activities.
Regulatory Delays
Pending FDA 510(k) applications for general use of Nanox.ARC and awaiting CE Mark designation in Europe, with no specific timeline for approval.
Company Guidance
During the third quarter of 2024, Nanox provided detailed guidance on its strategic initiatives and financial performance. The company reported a GAAP net loss of $13.6 million, reduced from $21.4 million in the previous year, and achieved revenues of $3.0 million. They highlighted the successful deployment of 47 Nanox.ARC units across 7 U.S. states and plans to expand their sales and service teams to 30-40 personnel by the end of 2025. Additionally, Nanox is pursuing regulatory clearances with the U.S. FDA and EU's CE Mark to broaden their market reach. Their teleradiology services reached a quarterly record with $2.6 million in revenues, while AI solutions generated $0.4 million, signaling continued growth in these sectors. The company also emphasized its focus on innovation and strategic partnerships, including agreements with Oxford University Hospitals and other institutions, to drive significant shareholder value.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.