Education
About Us
Working with TipRanks
Follow Us
Nano-X Imaging (NNOX)
NASDAQ:NNOX
Top Page
Nano-X Imaging
(NASDAQ:NNOX)
Rating:48Neutral
Price Target:
$5.00
▼(-6.02%Downside)
Nano-X Imaging (NNOX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$339.21M
Dividend YieldN/A
Average Volume (3M)1.05M
Price to Earnings (P/E)―
Beta (1Y)1.68
Revenue Growth15.32%
EPS Growth15.73%
CountryUS
Employees165
SectorHealthcare
Sector Strength39
IndustryMedical - Devices
Share Statistics
EPS (TTM)N/A
Shares Outstanding63,762,000
10 Day Avg. Volume1,159,058
30 Day Avg. Volume1,051,921
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)1.89
Price to Sales (P/S)0.00
P/FCF Ratio-8.21
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue6.89
Enterprise Value/Gross Profit-25.90
Enterprise Value/Ebitda-1.74
Forecast
1Y Price Target
$8.33Price Target Upside56.58% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Nano-X Imaging Business Overview & Revenue Model
Company DescriptionNano-X Imaging Ltd (NNOX) is a healthcare technology company focused on developing and commercializing advanced imaging solutions. Based in Israel, Nano-X aims to make medical imaging more accessible and affordable by leveraging its proprietary technology to produce high-quality digital X-ray systems. The company's flagship product, the Nanox.ARC, is designed to provide a cost-effective alternative to traditional medical imaging equipment, thereby addressing the global demand for diagnostic imaging services.
How the Company Makes MoneyNano-X Imaging generates revenue primarily through the sale and deployment of its Nanox.ARC imaging systems. The company's business model is based on a 'pay-per-scan' approach, where healthcare providers pay a fee for each scan conducted using the Nanox.ARC system. This model allows Nano-X to lower the initial cost barriers for medical facilities, making it easier for them to adopt the technology. Additionally, Nano-X plans to establish partnerships with healthcare providers, governments, and other stakeholders to expand its market reach and enhance its revenue potential. The company's strategy includes building a comprehensive medical imaging ecosystem that could potentially integrate additional services and products in the future.
Nano-X Imaging Earnings Call Summary
Earnings Call Date:May 22, 2025
(Q1-2025)
| % Change Since: 1.53%|
Next Earnings Date:Aug 13, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong growth in strategic areas such as AI solutions, teleradiology services, and an expanding sales pipeline, alongside successful regulatory approvals. However, these positive developments are tempered by persistent net losses and challenges in revenue recognition from new installations.Q1-2025 Updates
Positive Updates
Strategic Acquisitions Driving Growth
The acquisitions of USARad and Nano-X AI have doubled revenues for USARad and transformed Nano-X AI from a pre-revenue business to a growing revenue stream.
Expanding Sales Pipeline
The sales pipeline has doubled since January 2025, with over 1,000 leads and a target of over 100 ARC systems in deployment stages by the end of 2025.
Regulatory Success
Received 510(k) clearance from the FDA for the Nano-X ARC systems, enabling wider deployment.
AI Solutions Momentum
Strong interest and expanding sales pipeline for AI solutions, including a partnership with Ezra AI for use in dozens of locations in the US.
Revenue Growth in Teleradiology
Revenue from teleradiology services increased to $2.6 million, with a gross profit margin of approximately 17% compared to 14% in the previous period.
Negative Updates
Continued Net Loss
Reported a GAAP net loss of $13.2 million for Q1 2025, an increase from the $12.2 million net loss in Q1 2024.
Gross Loss Increase
Gross loss increased to $3.0 million on a GAAP basis, up from $2.1 million in the comparable period.
Challenges in Revenue Recognition
Slow recognition of revenue due to the time taken for regulatory approvals and the setup process for new ARC system installations.
Company Guidance
During the Q1 2025 earnings call, Nano-X Imaging Ltd. provided guidance on its commercial progress and future expectations. The company reported a GAAP net loss of $13.2 million for the quarter, with revenues reaching $2.8 million, a slight increase from $2.6 million in the same period last year. Nano-X's teleradiology services generated $2.6 million in revenue, showing an improved gross profit margin of approximately 17% on a GAAP basis. The company's AI solutions business saw revenue of $0.2 million, while the imaging systems and OEM services contributed $33,000. Nano-X aims to deploy over 100 ARC systems by the end of 2025, with most units expected in the US. The company is working towards achieving breakeven in its AI business by 2026 and in the ARC business by 2027, with an anticipated inflection point in the second half of 2025. The company's strategic efforts include enhancing its sales pipeline, expanding its market reach in the US and EU, and integrating AI into its medical imaging solutions to improve patient outcomes.Nano-X Imaging Financial Statement Overview
Summary
Nano-X Imaging is in a growth phase with increasing revenues but faces significant challenges in achieving profitability and managing cash flows effectively. Despite a strong equity position providing some resilience, persistent losses and reliance on external financing highlight the need for strategic improvements in operational and financial management.Income Statement
Nano-X Imaging has shown an increasing trend in revenue over the years, with a notable increase in TTM (Trailing-Twelve-Months) revenue. However, the company continues to report negative gross profit margins, net profit margins, and EBIT margins, indicating ongoing challenges in achieving profitability. The revenue growth rate is positive, but the persistent negative margins highlight significant operational inefficiencies and cost management issues.37
Negative
Balance Sheet
The balance sheet reflects a strong equity position with a high equity ratio, suggesting financial stability. However, the debt-to-equity ratio has increased slightly, indicating a rise in leverage, which could pose potential risks if not managed properly. Return on Equity (ROE) remains negative due to the company's losses, but the overall equity strength provides some buffer against financial volatility.45
Neutral
Cash Flow
The company's cash flow statement shows a challenging situation with negative operating and free cash flows. The free cash flow growth rate is negative, reflecting ongoing cash burn. The operating cash flow to net income and free cash flow to net income ratios are also negative, underscoring the company's reliance on external financing to sustain operations. This highlights the need for improved cash management and operational efficiency.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.54M | 11.28M | 9.90M | 8.58M | 1.30M | 0.00 |
| Gross Profit | -11.60M | -10.61M | -6.59M | -6.88M | -1.51M | -208.00K |
| EBITDA | -45.93M | -45.01M | -47.69M | -75.70M | -59.27M | -43.61M |
| Net Income | -54.51M | -53.52M | -60.78M | -105.24M | -61.80M | -43.50M |
Balance Sheet | ||||||
| Total Assets | 196.74M | 210.00M | 218.65M | 253.93M | 363.17M | 236.15M |
| Cash, Cash Equivalents and Short-Term Investments | 62.46M | 73.21M | 82.38M | 77.62M | 88.71M | 213.47M |
| Total Debt | 7.40M | 7.45M | 8.40M | 4.62M | 5.77M | 1.44M |
| Total Liabilities | 19.57M | 20.88M | 23.13M | 29.25M | 71.02M | 5.40M |
| Stockholders Equity | 177.16M | 189.12M | 195.51M | 224.68M | 292.15M | 230.75M |
Cash Flow | ||||||
| Free Cash Flow | -40.63M | -39.37M | -48.08M | -50.56M | -61.23M | -35.42M |
| Operating Cash Flow | -37.48M | -36.60M | -44.78M | -43.38M | -38.07M | -21.49M |
| Investing Cash Flow | -6.72M | -20.05M | 35.43M | 14.61M | -116.32M | -13.94M |
| Financing Cash Flow | 39.60M | 39.50M | 27.25M | 804.00K | 7.38M | 240.99M |
Nano-X Imaging Technical Analysis
Positive
5.32
Price Trends
5.24
Positive
5.45
Negative
6.12
Negative
Market Momentum
>-0.01
Negative
52.96
Neutral
77.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NNOX, the sentiment is Positive. The current price of 5.32 is above the 20-day moving average (MA) of 5.24, above the 50-day MA of 5.24, and below the 200-day MA of 6.12, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.96 is Neutral, neither overbought nor oversold. The STOCH value of 77.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $282.60M | 23.97 | 9.79% | ― | 19.97% | 17.21% | |
66 Neutral | $365.20M | ― | -7.46% | ― | -3.31% | -199.23% | |
62 Neutral | $2.52B | 30.62 | -19.69% | ― | 7.97% | -592.40% | |
59 Neutral | £5.86B | 9.18 | -57.69% | 4.67% | 15.15% | -9.83% | |
56 Neutral | $270.79M | ― | 0.65% | ― | 61.50% | 34.99% | |
48 Neutral | $339.21M | ― | -30.11% | ― | 15.32% | 15.73% | |
46 Neutral | $111.92M | ― | -60.68% | ― | 19.84% | 5.77% |
* Healthcare Sector Average
Performance Comparison
NNOX
Nano-X Imaging
5.32
-1.85
-25.80%
SNWV
Sanuwave Health
31.65
25.27
396.08%
LIVN
LivaNova
46.13
-5.51
-10.67%
VREX
Varex Imaging
8.80
-5.49
-38.42%
VMD
Viemed Healthcare
7.15
0.79
12.42%
LUNG
Pulmonx
2.78
-3.67
-56.90%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.