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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: 2024
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 |
|---|---|---|---|---|---|---|---|
| 2024 | $11M | $-45M | $-54M | $-39M | -28.3% | 13.9% | - |
| 2023 | $10M | $-48M | $-61M | $-48M | -31.1% | 15.5% | - |
| 2022 | $9M | $-76M | $-113M | $-51M | -52.3% | 557.8% | - |
| 2021 | $1M | $-59M | $-62M | $-61M | -21.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Total Revenue | 1.30 | 8.58 | 9.90 | 11.28 |
| Cost Of Revenue | 2.82 | 15.46 | 16.50 | 21.89 |
| Gross Profit | -1.51 | -6.88 | -6.59 | -10.61 |
| Operating Expense | 60.05 | 80.33 | 53.06 | 46.14 |
| Operating Income | -61.56 | -87.21 | -59.66 | -56.75 |
| EBITDA | -59.27 | -75.70 | -47.85 | -45.01 |
| EBIT | -61.56 | -87.21 | -59.66 | -56.75 |
| Pretax Income | -61.85 | -116.92 | -61.12 | -53.87 |
| Tax Provision | -0.05 | -3.68 | -0.34 | -0.36 |
| Net Income | -61.80 | -113.24 | -60.78 | -53.52 |
| Net Income Common Stockholders | -61.80 | -113.24 | -60.78 | -53.52 |
| Total Expenses | 62.86 | 95.79 | 69.56 | 68.03 |
| Interest Income | 0 | 0.79 | 1.65 | 2.87 |
| Research And Development | 17.12 | 26.51 | 26.05 | 20.18 |
| Selling General And Administration | 41.74 | 45.63 | 28.39 | 25.75 |
| Normalized EBITDA | -59.27 | -45.19 | -44.74 | -45.02 |
| Normalized Income | -61.80 | -83.70 | -57.68 | -53.52 |
| Basic EPS | -1.28 | -2.01 | -1.08 | -0.91 |
| Diluted EPS | -1.28 | -2.01 | -1.08 | -0.91 |
| Tax Effect Of Unusual Items | 0 | -0.96 | -0.02 | 0 |
| Tax Rate For Calcs | 0 | 0.03 | 0.01 | 0.01 |
| Total Unusual Items | 0 | -30.50 | -3.11 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | -30.50 | -3.11 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -61.80 | -113.24 | -60.78 | -53.52 |
| Reconciled Depreciation | 2.29 | 11.51 | 11.81 | 11.73 |
| Reconciled Cost Of Revenue | 2.82 | 15.46 | 4.73 | 10.28 |
| Net Interest Income | -0.29 | 0.79 | 1.65 | 2.87 |
| Net Income From Continuing And Discontinued Operation | -61.80 | -113.24 | -60.78 | -53.52 |
| Rent Expense Supplemental | 0.82 | 0.72 | 0.96 | 1.69 |
| Total Operating Income As Reported | -61.56 | -117.71 | -62.59 | -56.75 |
| Diluted Average Shares | 48.22 | 52.23 | 56.37 | 58.67 |
| Basic Average Shares | 48.22 | 52.23 | 56.37 | 58.67 |
| Diluted NI Availto Com Stockholders | -61.80 | -113.24 | -60.78 | -53.52 |
| Net Income Including Noncontrolling Interests | -61.80 | -113.24 | -60.78 | -53.52 |
| Net Income Continuous Operations | -61.80 | -113.24 | -60.78 | -53.52 |
| Other Income Expense | 0 | -30.50 | -3.11 | 0 |
| Special Income Charges | 0 | -30.50 | -2.93 | 0 |
| Impairment Of Capital Assets | 0 | 50.88 | 7.42 | 0 |
| Restructuring And Mergern Acquisition | 0 | -20.38 | -4.49 | 0 |
| Gain On Sale Of Security | 0 | 0 | -0.18 | 0 |
| Net Non Operating Interest Income Expense | -0.29 | 0.79 | 1.65 | 2.87 |
| Total Other Finance Cost | 0.29 | -0.79 | 0 | 0 |
| Interest Income Non Operating | 0 | 0.79 | 1.65 | 2.87 |
| Other Operating Expenses | 1.18 | 8.19 | -1.42 | 0.09 |
| Depreciation Amortization Depletion Income Statement | 0.23 | 0.35 | 0.05 | 0.12 |
| Depreciation And Amortization In Income Statement | 0.23 | 0.35 | 0.05 | 0.12 |
| Selling And Marketing Expense | 7.03 | 4.38 | 2.38 | 1.65 |
| General And Administrative Expense | 34.71 | 41.25 | 26.01 | 24.10 |
| Other Gand A | 34.71 | 41.25 | 9.96 | 7.88 |
| Insurance And Claims | 4.45 | 4.14 | 2.85 | 1.45 |
| Rent And Landing Fees | 0.82 | 0.72 | 0.96 | 1.69 |
| Salaries And Wages | 19.22 | 23.03 | 12.24 | 13.08 |
| Operating Revenue | 1.30 | 8.58 | 9.90 | 11.28 |
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 | $119M | - | 0.85 | -28.3% | -1.41 |
| TuHURA Biosciences, Inc. | HURA | $134M | - | 6.03 | -143.6% | -4.67 |
| AVITA Medical, Inc. | RCEL | $130M | - | -7.76 | 291.8% | -3.91 |
| The Joint Corp. | JYNT | $127M | - | 8.33 | 19.3% | 140.09 |
| Neuronetics, Inc. | STIM | $118M | - |
| 5.25 |
| -148.6% |
| -6.65 |
| OptimizeRx Corporation | OPRX | $115M | 22.74 | 0.90 | 4.0% | 7.20 |
| Aardvark Therapeutics, Inc. | AARD | $114M | - | 1.07 | -54.0% | -0.07 |
| Cardiff Oncology, Inc. | CRDF | $111M | - | 2.44 | -101.0% | -1.10 |
| Definitive Healthcare Corp. | DH | $99M | - | 0.35 | -36.7% | 5.27 |
| Peer Median | - | 22.74 | 1.75 | -45.3% | -0.58 | |