Nano-X Imaging Ltd. (NNOX)
NASDAQ:NNOX
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Nano-X Imaging
(NASDAQ:NNOX)
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Rating:47Neutral
Price Target:
$2.50
▼(-40.76% Downside)
Action:ReiteratedDate:01/13/26
The score is primarily held down by weak financial performance—negative gross profit, large ongoing losses, and sustained cash burn—despite a low-debt balance sheet. Technicals also remain soft with the stock below key moving averages and negative MACD. Positive earnings-call guidance and expansion initiatives provide some upside, but are tempered by continued losses and regulatory/expense headwinds.
Positive Factors
Conservative balance sheet
Very low leverage gives the company structural financial flexibility, lowering near-term solvency risk and enabling continued investment in deployments, regulatory work, and AI integration without immediate refinancing pressure. That supports execution through the current scaling phase.
Negative Factors
Deep negative gross margins
Extremely negative gross margins indicate unit economics do not yet cover direct production or service costs. Until product costs, pricing, or utilization materially improve, scaling revenue will not translate into profitability and margin recovery will be required for durable viability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage gives the company structural financial flexibility, lowering near-term solvency risk and enabling continued investment in deployments, regulatory work, and AI integration without immediate refinancing pressure. That supports execution through the current scaling phase.
Read all positive factors
Nano-X Imaging (NNOX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$155.58M
Dividend YieldN/A
Average Volume (3M)783.16K
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue Growth15.19%
EPS Growth-3.32%
CountryUS
Employees165
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.21
Shares Outstanding63,762,000
10 Day Avg. Volume626,228
30 Day Avg. Volume783,159
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)2.23
Price to Sales (P/S)37.41
P/FCF Ratio-10.72
Enterprise Value/Market Cap0.74
Enterprise Value/Revenue9.41
Enterprise Value/Gross Profit-9.52
Enterprise Value/Ebitda-2.59
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.51
Revenue Forecast (FY)$31.60M
Nano-X Imaging Business Overview & Revenue Model
Company Description
Nano-X Imaging Ltd. develops a commercial-grade tomographic imaging device with a digital X-ray source. The company provides teleradiology services and develops artificial intelligence applications to be used in real-world medical imaging applicat...
How the Company Makes Money
Nano-X Imaging generates revenue through the sale of its proprietary imaging systems, which are designed to reduce the costs associated with traditional imaging equipment. The company also earns income from service contracts, maintenance agreement...
Nano-X Imaging Earnings Call Summary
Earnings Call Date:Nov 20, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Apr 06, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a balanced view with significant strides in global expansion, technology development, and partnerships. However, financial losses and regulatory challenges offset some of the positive momentum.Positive Updates
Global Expansion and New Partnerships
Nano-X Imaging Ltd. has signed new agreements in the Czech Republic and France, expanding their presence in Europe. The company is also collaborating with prominent organizations like Cedars-Sinai and has acquired Vaso Healthcare IT to bolster its AI infrastructure.
Negative Updates
Net Loss and Financial Challenges
Nano-X Imaging Ltd. reported a GAAP net loss of $13.7 million for 2025, slightly higher than the $13.6 million loss in 2024. The company's AI solution revenue decreased by $300,000.
Read all updates
Q3-2025 Updates
Positive
Negative
Global Expansion and New Partnerships
Nano-X Imaging Ltd. has signed new agreements in the Czech Republic and France, expanding their presence in Europe. The company is also collaborating with prominent organizations like Cedars-Sinai and has acquired Vaso Healthcare IT to bolster its AI infrastructure.
Read all positive updates
Company Guidance
During the third quarter 2025 earnings call for Nano-X Imaging Ltd., the company provided guidance for 2026, projecting more than $35 million in revenues driven by strategic growth initiatives across its three pillars: technology expansion and market scaling, AI infrastructure and integration, and operational efficiency and sustainable growth. The company emphasized its commitment to global expansion and strengthening its position in the medical imaging industry, with plans to deploy 100 systems worldwide by the end of 2025. Nano-X Imaging is also expanding its AI presence through acquisitions such as Vaso Healthcare IT and pursuing regulatory advancements to unlock market potential. Financial metrics from the third quarter of 2025 included a GAAP net loss of $13.7 million, revenue of $3.4 million, and a non-GAAP net loss attributable to ordinary shares of $9.9 million. The company expects its AI business segment to achieve EBITDA breakeven by 2026, with the overall company reaching this milestone by 2027.Nano-X Imaging Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
70
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Dec 2022 | Mar 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.30M | 11.28M | 9.90M | 8.58M | 1.30M | 0.00 |
| Gross Profit | -12.16M | -10.61M | -6.59M | -6.88M | -1.51M | -208.00K |
| EBITDA | -44.73M | -45.01M | -47.69M | -75.70M | -59.27M | -43.61M |
| Net Income | -55.71M | -53.52M | -60.78M | -105.24M | -61.80M | -43.50M |
Balance Sheet | ||||||
| Total Assets | 176.09M | 210.00M | 218.65M | 253.93M | 363.17M | 236.15M |
| Cash, Cash Equivalents and Short-Term Investments | 45.19M | 73.21M | 82.38M | 77.62M | 88.71M | 213.47M |
| Total Debt | 7.88M | 7.45M | 8.40M | 4.62M | 5.77M | 1.44M |
| Total Liabilities | 19.38M | 20.88M | 23.13M | 29.25M | 71.02M | 5.40M |
| Stockholders Equity | 156.71M | 189.12M | 195.51M | 224.68M | 292.15M | 230.75M |
Cash Flow | ||||||
| Free Cash Flow | -46.70M | -39.37M | -48.08M | -50.56M | -61.23M | -35.42M |
| Operating Cash Flow | -42.20M | -36.60M | -44.78M | -43.38M | -38.07M | -21.49M |
| Investing Cash Flow | 5.48M | -20.05M | 35.43M | 14.61M | -116.32M | -13.94M |
| Financing Cash Flow | 43.96M | 39.50M | 27.25M | 804.00K | 7.38M | 240.99M |
Nano-X Imaging Technical Analysis
Negative
4.22
Price Trends
2.64
Negative
3.00
Negative
3.75
Negative
Market Momentum
-0.03
Positive
43.93
Neutral
18.08
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 4.22 is above the 20-day moving average (MA) of 2.54, above the 50-day MA of 2.64, and above the 200-day MA of 3.75, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 43.93 is Neutral, neither overbought nor oversold. The STOCH value of 18.08 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $354.37M | 19.35 | 10.87% | ― | 18.90% | 29.22% | |
58 Neutral | $228.39M | 9.76 | 13.25% | ― | 4.49% | 3.61% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $66.12M | -0.69 | -54.99% | ― | 4.65% | 68.71% | |
48 Neutral | $240.32M | -6.74 | 137.18% | ― | 49.52% | 19.34% | |
47 Neutral | $155.58M | -4.35 | -32.46% | ― | 15.19% | -3.32% |
* Healthcare Sector Average
NNOX
Nano-X Imaging
2.44
-3.46
-58.64%
VMD
Viemed Healthcare
9.18
1.98
27.50%
OM
Outset Medical
3.62
-8.06
-69.02%
MASS
908 Devices
6.11
2.10
52.37%
TLSI
TriSalus Life Sciences
3.92
-1.73
-30.62%
Nano-X Imaging Corporate Events
Nano-X Imaging Secures FDA 510(k) Clearance for TAP2D Image Enhancement on Nanox.ARC Systems
Feb 3, 2026
On February 3, 2026, Nano-X Imaging announced it had received U.S. FDA 510(k) clearance for TAP2D, a new cloud-enabled image enhancement capability for the Nanox.ARC and Nanox.ARC X digital tomosynthesis systems. TAP2D generates a clear 2D image d...
Nano-X Imaging Shareholders Approve All Proposals at 2025 Annual Meeting
Dec 29, 2025
On December 23, 2025, Nano-X Imaging Ltd held its Annual General Meeting of Shareholders at its offices in Petach Tikva, Israel, where shareholders approved, by the required majority, all proposals presented in the company’s previously distr...
Nano-X Imaging Adjourns Annual Shareholders’ Meeting by One Day for Lack of Quorum
Dec 22, 2025
Nano-X Imaging Ltd., a medical imaging technology company headquartered in Petach Tikva, Israel, focuses on developing and commercializing innovative X-ray imaging systems for healthcare providers worldwide. On December 22, 2025, Nano-X Imaging co...
Nano-X Imaging Secures $15 Million in Direct Offering
Nov 26, 2025
On November 23, 2025, Nano-X Imaging Ltd entered into a securities purchase agreement with an institutional investor, selling 3,826,530 ordinary shares at $3.92 each, raising approximately $15 million. The offering, which closed on November 25, 20...
Nano-X Imaging Secures $15 Million in Direct Offering to Boost Growth
Nov 24, 2025
On November 23, 2025, Nano-X Imaging Ltd announced a securities purchase agreement with a single institutional investor for a registered direct offering of 3,826,530 ordinary shares, expected to generate approximately $15 million in gross proceeds...
Nano-X Imaging Reports Q3 2025 Results and Strategic Advances
Nov 20, 2025
On November 20, 2025, Nano-X Imaging Ltd announced its financial results for the third quarter ending September 30, 2025, reporting a revenue increase to $3.4 million from $3.0 million in the same period in 2024. The company highlighted strategic ...
Nanox Imaging to Acquire VasoHealthcare IT for U.S. AI Expansion
Nov 19, 2025
On November 19, 2025, Nanox Imaging Ltd announced an agreement to acquire VasoHealthcare IT from Vaso Corporation, aiming to enhance the deployment of its AI solutions in U.S. healthcare facilities. This acquisition, valued at up to $800,000, will...
Nano-X Imaging Schedules Annual General Meeting for December 2025
Nov 17, 2025
Nano-X Imaging Ltd announced it will hold its Annual General Meeting of Shareholders on December 22, 2025, in Petach Tikva, Israel. The meeting will address the re-election of directors and the re-appointment of its independent auditors. Sharehold...
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.