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Nano-X Imaging Ltd. develops a commercial-grade tomographic imaging device with a digital X-ray source. It provides teleradiology services and develops artificial intelligence applications to be used in real-world medical imaging applications. The company's solutions include Nanox Multi Source System comprising Nanox.ARC, a medical tomographic imaging system incorporating its digital X-ray source; and Nanox. CLOUD, a platform which employs a matching engine to match medical images to radiologists that provides image repository, connectivity to diagnostic assistive AI systems, billing, and reporting. It also offers Nanox.MARKETPLACE, which connects imaging facilities with radiologists and enables radiologists to provide and obtain remote interpretations of imaging data; Nanox.CONNECT to receive local regulatory approvals and explore and evaluate the business model and the potential service; 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; Teleradiology Services, which provide imaging interpretation services for radiology practices, hospitals, medical clinics, diagnostic imaging centers and mobile imaging service providers, urgent care facilities, and multi-specialty physician groups. The company was founded in 2011 and is headquartered in Petah Tikva, Israel.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $13M | $-49M | $-75M | $-45M | -53.7% | 15.4% | 40.2% |
| 2024 | $11M | $-45M | $-54M | $-39M | -28.3% | 13.9% | -11.9% |
| 2023 | $10M | $-48M | $-61M | $-48M | -31.1% | 15.5% | -46.3% |
| 2022 | $9M | $-76M | $-113M | $-51M | -52.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 8.58 | 9.90 | 11.28 | 13.02 |
| Operating Revenue | - | 8.58 | 9.90 | 11.28 | 13.02 |
| Cost Of Revenue | - | 15.46 | 16.50 | 21.89 | 25.81 |
| Gross Profit | - | -6.88 | -6.59 | -10.61 | -12.79 |
| Operating Expense | - | 80.33 | 53.06 | 46.14 | 47.91 |
| Research And Development | - | 26.51 | 26.05 | 20.18 | 19.24 |
| Selling General And Administration | - | 45.63 | 28.44 | 25.75 | 27.10 |
| Total Expenses | - | 95.79 | 69.56 | 68.03 | 73.72 |
| Operating Income | - | -87.21 | -59.66 | -56.75 | -60.70 |
| Total Operating Income As Reported | - | -117.71 | -62.59 | -56.75 | -78.23 |
| EBITDA | - | -75.70 | -47.85 | -45.01 | -49 |
| Normalized EBITDA | - | -45.19 | -44.74 | -45.02 | -31.47 |
| EBIT | - | -87.21 | -59.66 | -56.75 | -60.70 |
| Interest Income | - | 0.79 | 1.65 | 2.87 | 1.42 |
| Net Interest Income | - | 0.79 | 1.65 | 2.87 | 1.42 |
| Other Income Expense | - | -30.50 | -3.11 | 0 | -17.54 |
| Interest Income Non Operating | - | 0.79 | 1.65 | 2.87 | 1.42 |
| Net Non Operating Interest Income Expense | - | 0.79 | 1.65 | 2.87 | 1.42 |
| Pretax Income | - | -116.92 | -61.12 | -53.87 | -76.81 |
| Tax Provision | - | -3.68 | -0.34 | -0.36 | -1.79 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.96 | -0.02 | 0 | -0.41 |
| Net Income Continuous Operations | - | -113.24 | -60.78 | -53.52 | -75.02 |
| Net Income From Continuing And Discontinued Operation | - | -113.24 | -60.78 | -53.52 | -75.02 |
| Net Income From Continuing Operation Net Minority Interest | - | -113.24 | -60.78 | -53.52 | -75.02 |
| Net Income | - | -113.24 | -60.78 | -53.52 | -75.02 |
| Net Income Common Stockholders | - | -113.24 | -60.78 | -53.52 | -75.02 |
| Net Income Including Noncontrolling Interests | - | -113.24 | -60.78 | -53.52 | -75.02 |
| Normalized Income | - | -83.70 | -57.68 | -53.52 | -57.89 |
| Diluted NI Availto Com Stockholders | - | -113.24 | -60.78 | -53.52 | -75.02 |
| Basic Average Shares | - | 52.24 | 56.37 | 58.67 | 64.79 |
| Diluted Average Shares | - | 52.24 | 56.37 | 58.67 | 64.79 |
| Reconciled Depreciation | - | 11.51 | 11.81 | 11.73 | 11.70 |
| Reconciled Cost Of Revenue | - | 15.46 | 16.50 | 10.28 | 14.26 |
| Total Unusual Items | - | -30.50 | -3.11 | 0 | -17.54 |
| Total Unusual Items Excluding Goodwill | - | -30.50 | -3.11 | 0 | -17.54 |
| Special Income Charges | - | -30.50 | -2.93 | 0 | -17.54 |
| Impairment Of Capital Assets | - | 50.88 | 7.42 | 0 | 17.53 |
| Restructuring And Mergern Acquisition | - | -20.38 | -4.49 | 0 | 0.01 |
| Gain On Sale Of Security | - | - | -0.18 | 0 | - |
| Depreciation Amortization Depletion Income Statement | - | 0.35 | 0.05 | 0.12 | 0.15 |
| Depreciation And Amortization In Income Statement | - | 0.35 | 0.05 | 0.12 | 0.15 |
| General And Administrative Expense | - | 41.25 | 24.27 | 24.10 | 24.46 |
| Other Gand A | - | 41.25 | 24.27 | 7.88 | 8.29 |
| Salaries And Wages | - | 23.03 | 12.24 | 13.08 | 13.89 |
| Insurance And Claims | - | 4.14 | 2.85 | 1.45 | 0.82 |
| Rent Expense Supplemental | - | 0.72 | 0.96 | 1.69 | 1.47 |
| Total Other Finance Cost | 0.29 | -0.79 | - | - | - |
| Other Operating Expenses | - | 8.19 | -1.42 | 0.09 | 1.42 |
| Selling And Marketing Expense | - | 4.38 | 4.17 | 1.65 | 2.64 |
| Rent And Landing Fees | - | 0.72 | 0.96 | 1.69 | 1.47 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Nano-X Imaging Ltd.this co. | NNOX | $144M | -1.92 | 1.03 | -53.7% | -2.10 |
| Protalix BioTherapeutics, Inc. | PLX | $162M | - | 3.36 | -13.7% | - |
| Korro Bio, Inc. | KRRO | $161M | -1.38 | 3.13 | -228.0% | -2.20 |
| CVRx, Inc. | CVRX | $156M | - | 3.97 | -135.6% | - |
| Health Catalyst, Inc. | HCAT | $143M | -0.81 |
| - |
| - |
| - |
| - |
| - |
| 0.58 |
| -72.4% |
| -2.57 |
| TuHURA Biosciences, Inc. | HURA | $139M | -4.64 | 6.75 | -145.5% | -4.65 |
| AVITA Medical, Inc. | RCEL | $134M | -2.76 | -8.06 | 291.8% | -4.12 |
| SANUWAVE Health, Inc. | SNWV | $132M | 11.20 | 81.74 | 729.6% | 7.38 |
| MaxCyte, Inc. | MXCT | $132M | -2.95 | 0.77 | -26.0% | -3.23 |
| Peer Median | - | -2.07 | 3.25 | -49.2% | -2.90 | |