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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
$334.75M
Dividend YieldN/A
Average Volume (3M)1.35M
Price to Earnings (P/E)―
Beta (1Y)1.36
Revenue Growth13.91%
EPS Growth15.46%
CountryUS
Employees165
SectorHealthcare
Sector Strength70
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.91
Shares Outstanding63,762,000
10 Day Avg. Volume1,129,210
30 Day Avg. Volume1,347,849
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)35.29
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market Cap1.10
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-55.71
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$11.00Price Target Upside109.52% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Nano-X Imaging Business Overview & Revenue Model
Company DescriptionNano-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 applications. Its X-ray source is based on a digital micro-electro-mechanical systems semiconductor cathode. The company develops a prototype of the Nanox.ARC, a medical imaging system incorporating its digital X-ray source; and Nanox.CLOUD, a companion cloud-based software that would allow for the delivery of medical screening as a service. It also offers Nanox.MARKETPLACE, which connects imaging facilities with radiologists and enables radiologists to provide, as well as customers to obtain remote interpretations of imaging data; artificial intelligence (AI)-based software imaging solutions to hospitals, health maintenance organizations, integrated delivery networks, pharmaceutical companies, and insurers that are designed to identify or predict undiagnosed or underdiagnosed medical conditions through the mining of data included in images of existing computed tomography scans for osteoporosis and cardiovascular disease; Teleradiology Services, which provide imaging interpretation services for radiology practices, hospitals, medical clinics, diagnostic imaging centers, urgent care facilities; and multi-specialty physician groups, contracts, and radiology readings. The company was founded in 2011 and is headquartered in Neve Ilan, Israel.
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 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 | ||||
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 9.90M | 8.58M | 1.30M | 0.00 | 0.00 | Gross Profit |
| -6.59M | -6.88M | -1.51M | -208.00K | -53.00K | EBIT |
| -62.59M | -109.71M | -61.56M | -43.92M | -22.57M | EBITDA |
| -47.69M | -75.70M | -59.27M | -43.61M | -22.52M | Net Income Common Stockholders |
| -60.78M | -105.24M | -61.80M | -43.50M | -22.55M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 82.38M | 77.62M | 88.71M | 213.47M | 8.07M | Total Assets |
| 218.65M | 253.93M | 363.17M | 236.15M | 11.87M | Total Debt |
| 8.40M | 4.62M | 5.77M | 1.44M | 526.00K | Net Debt |
| -47.98M | -33.84M | -60.87M | -212.03M | -7.55M | Total Liabilities |
| 23.13M | 29.25M | 71.02M | 5.40M | 20.65M | Stockholders Equity |
| 195.51M | 224.68M | 292.15M | 230.75M | -8.78M |
| Cash Flow | Free Cash Flow | |||
| -48.08M | -50.56M | -61.23M | -35.42M | -5.65M | Operating Cash Flow |
| -44.78M | -43.38M | -38.07M | -21.49M | -5.52M | Investing Cash Flow |
| 35.43M | 14.61M | -116.32M | -13.94M | -125.00K | Financing Cash Flow |
| 27.25M | 804.00K | 7.38M | 240.99M | 13.86M |
Nano-X Imaging Technical Analysis
Negative
5.25
Price Trends
5.49
Negative
6.55
Negative
6.60
Negative
Market Momentum
-0.11
Negative
50.53
Neutral
82.56
Negative
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 5.25 is above the 20-day moving average (MA) of 4.78, below the 50-day MA of 5.49, and below the 200-day MA of 6.60, indicating a neutral trend. The MACD of -0.11 indicates Negative momentum. The RSI at 50.53 is Neutral, neither overbought nor oversold. The STOCH value of 82.56 is Negative, 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 (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $279.42M | 25.74 | 9.19% | ― | 22.54% | 8.55% | |
54 Neutral | $2.03B | 32.45 | 4.87% | ― | 8.33% | 256.54% | |
51 Neutral | $5.35B | 3.41 | -40.48% | 2.89% | 17.92% | 2.25% | |
51 Neutral | $209.29M | ― | -55.25% | ― | 22.01% | 10.02% | |
48 Neutral | $350.20M | ― | -8.57% | ― | -6.49% | -205.13% | |
46 Neutral | $255.77M | ― | 0.65% | ― | 59.99% | 57.11% | |
39 Underperform | $334.75M | ― | -27.83% | ― | 13.91% | 15.46% |
* Healthcare Sector Average
Performance Comparison
NNOX
Nano-X Imaging
5.15
-3.83
-42.65%
SNWV
Sanuwave Health
27.40
20.09
274.83%
LIVN
LivaNova
37.51
-18.66
-33.22%
VREX
Varex Imaging
8.50
-8.41
-49.73%
VMD
Viemed Healthcare
7.07
-1.15
-13.99%
LUNG
Pulmonx
5.19
-2.31
-30.80%
Nano-X Imaging Earnings Call Summary
Earnings Call Date:Mar 31, 2025
(Q4-2024)
| % Change Since: 0.38%|
Next Earnings Date:May 13, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a mix of achievements and challenges. Regulatory milestones and market expansion in Europe are notable highlights. However, the increased net loss, ongoing gross losses in certain segments, and stagnation in AI solutions revenue temper the positive developments.Q4-2024 Updates
Positive Updates
Regulatory Achievements
Nano-X achieved significant regulatory milestones, including FDA general use clearance in December 2024 and CE mark designation for the Nanox.ARC in February 2025.
Market Expansion
The company is expanding its market presence by entering the European market with CE-marked Nanox.ARC and signing new distribution agreements in Romania and Greece.
AI Commercialization Advances
Nano-X engaged with two new customers in the U.S. for its AI-powered imaging interpretation algorithms and increased its AI customer and pilot-based project by 25%.
Financial Performance in Teleradiology
Teleradiology services revenue increased to $2.8 million with a gross profit margin of 21% on a GAAP basis, up from 14% in the previous year.
Negative Updates
Increased Net Loss
The company reported a GAAP net loss of $14.1 million for Q4 2024, up from a $10.2 million loss in Q4 2023.
Gross Loss in Imaging Systems
Revenue from the sale and deployment of imaging systems was $136,000, but this segment experienced a gross loss of $1.5 million on a GAAP basis.
AI Solutions Revenue Stagnation
Revenue from AI solutions was $83,000 with a gross loss of $2.0 million, similar to the previous period, indicating stagnation.
Increased General and Administrative Expenses
General and administrative expenses rose to $5.8 million from $3.8 million, primarily due to increased legal expenses.
Company Guidance
During the Nano-X Fourth Quarter 2024 Earnings Call, the company provided several key metrics and updates. Nano-X reported a GAAP net loss of $14.1 million for the fourth quarter of 2024, up from a $10.2 million net loss in the same period the previous year. Revenue for the quarter was $3.0 million, with a GAAP gross loss of $2.9 million. The teleradiology services segment generated $2.8 million in revenue, contributing to a gross profit of $0.6 million on a GAAP basis. The company also noted an increase in its total AI customer and pilot-based projects by 25%. In terms of market expansion, Nano-X achieved FDA clearance and CE-mark designation for its Nanox.ARC system, which includes plans for deployment in the U.S. and entry into the European market. Additionally, Nano-X highlighted its efforts in strategic partnerships and sales agreements to accelerate its market presence, particularly in the U.S., where it is focusing on expanding its sales and clinical support teams.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.