Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $13.6 million for Q3 2024, a decrease from a net loss of $21.4 million in Q3 2023, primarily due to a reduction in impairment-related expenses [48] - Revenue for Q3 2024 was $3.0 million, compared to $2.5 million in the same period last year, with a gross loss of $2.8 million on a GAAP basis [49] - Non-GAAP gross loss for the reported period was $0.2 million, compared to a non-GAAP gross profit of $0.9 million in the comparable period, indicating a significant shift in profitability metrics [50] Business Line Data and Key Metrics Changes - Revenue from teleradiology services reached a record $2.6 million in Q3 2024, with a gross profit margin of approximately 15% on a GAAP basis, up from $2.2 million and 11% in Q3 2023 [51][52] - Revenue from AI solutions increased to $0.4 million in Q3 2024 from $0.1 million in the same period last year, attributed to the completion of installation projects [54] - Revenue from imaging systems sales was minimal at $29,000, with a gross loss of $1.5 million, reflecting ongoing challenges in this segment [55] Market Data and Key Metrics Changes - The company has deployed 47 Nanox.ARC units across the U.S., with a focus on small and medium imaging centers, as well as some hospitals and clinics [68] - The company is actively pursuing regulatory approvals in various international markets, including Mexico and Chile, to expand its footprint [21][80] Company Strategy and Development Direction - The strategic growth plan includes doubling the pipeline and expanding sales, service, and support teams in the U.S. to enhance market penetration [8][15] - The company aims to secure CE Mark designation in the EU and is working closely with the FDA for additional clearances, which are expected to significantly expand the total addressable market [24][62] - The focus on innovation and strategic partnerships is expected to drive shareholder value, with recent collaborations with prestigious institutions like Oxford University Hospitals [10][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the transformative potential of Nanox.ARC technology and its ability to make advanced medical imaging accessible and affordable [13][62] - Positive feedback from healthcare providers and ongoing clinical trials are seen as critical to driving broader adoption of the company's solutions [63] - The company is preparing for significant milestones in 2025, including regulatory approvals and product launches, which are anticipated to enhance revenue growth [95] Other Important Information - The company has a cash position of approximately $57.1 million as of September 30, 2024, with a loan of $3.4 million from a bank [59] - The Nanox.AI solution has been recognized in Time's Best Inventions of 2024, highlighting its impact on the healthcare industry [11] Q&A Session Summary Question: How many systems were deployed in the U.S. during the quarter? - The company deployed a total of 47 systems, primarily in small and medium imaging centers, with some in hospitals and clinics [68] Question: How has average utilization trended for ARC? - Average utilization remains around seven scans per day in operating locations [69] Question: Any updates on FDA conversations and ARC-X? - Conversations with the FDA are positive, and the company plans to submit for ARC-X approval early next year [70][71] Question: What are the plans for Europe post-CE Mark? - The company plans to utilize distributors for sales in Europe, with a go-to-market strategy already in place [76][78] Question: What about regulatory efforts in LATAM? - Regulatory approvals in Mexico and Chile are being pursued by distributors, with ongoing communication to facilitate the process [80] Question: When should we expect an inflection point in revenue? - The company anticipates multiple milestones that could serve as inflection points, including regulatory approvals and product launches [94][95]

Financial Performance - The company generated $3.0 million in revenue for Q3 2024, a 20% increase from $2.5 million in Q3 2023[3] - The net loss for Q3 2024 was $13.6 million, a decrease of $7.8 million compared to a net loss of $21.4 million in Q3 2023[6] - Revenue for the nine months ended September 30, 2024, increased to $8,283,000, compared to $7,508,000 for the same period in 2023, representing a growth of 10.3%[36] - The net loss for the nine months ended September 30, 2024, was $(39,455,000), compared to $(50,528,000) for the same period in 2023, showing an improvement of 21.7%[36] - The company reported a basic and diluted loss per share of $(0.68) for the nine months ended September 30, 2024, compared to $(0.90) for the same period in 2023[36] - The company reported a basic and diluted loss per share of $0.43 for the nine months ended September 30, 2024, compared to $0.53 for the same period in 2023[45] Revenue Sources - Revenue from teleradiology services increased to $2.6 million in Q3 2024, up from $2.2 million in Q3 2023[9] Expenses - Gross loss margin for Q3 2024 was 93%, compared to 67% in the comparable period[8] - Research and development expenses decreased to $4.7 million in Q3 2024 from $6.0 million in Q3 2023[13] - Total operating expenses for the nine months ended September 30, 2024, were $34,052,000, down from $47,026,000 in the same period of 2023, a decrease of 27.6%[36] - Research and development expenses for the nine months ended September 30, 2024, were $14,781,000, compared to $19,237,000 for the same period in 2023, a decrease of 23.2%[36] - Share-based compensation for the nine months ended September 30, 2024, was $5,845,000, compared to $4,981,000 for the same period in 2023, representing a 17% increase[45] Cash and Assets - The company had total cash and equivalents of $57.1 million as of September 30, 2024, down from $82.8 million at the end of 2023[20] - Total current assets decreased to $930,000 as of September 30, 2024, from $1,092,000 as of December 31, 2023, a decline of 14.8%[34] - The total accumulated deficit increased to $309,985,000 as of September 30, 2023, from $288,582,000 at the beginning of the period[39] Liabilities and Equity - Total liabilities decreased to $20,054,000 as of September 30, 2024, from $23,134,000 as of December 31, 2023, a reduction of 13.3%[34] - Shareholders' equity as of September 30, 2024, was $163,887,000, down from $195,514,000 as of December 31, 2023, a decrease of 16.2%[34] Regulatory and Strategic Initiatives - The company is working with the FDA and EU regulatory bodies to secure approvals for its technologies, which is expected to expand its total addressable market[5] - The company has expanded its US sales and support teams and deployed dozens of units globally as part of its growth strategy[3] - The company aims to enhance health outcomes worldwide through its innovative medical imaging technologies and AI solutions[25] Non-GAAP Metrics - The company reported a non-GAAP net loss of $8.7 million for Q3 2024, compared to $9.4 million in the comparable period[17] - Non-GAAP net loss attributable to ordinary shares for the nine months ended September 30, 2024, was $25,155,000, down from $29,821,000 in the same period of 2023, reflecting a 16% reduction[45] - Non-GAAP gross profit margin improved to 1% from a GAAP gross loss margin of (93%) in the latest period[47] - Non-GAAP research and development expenses decreased by 34% from GAAP figures, indicating cost management efforts[47] - Non-GAAP sales and marketing expenses showed a reduction of 34% compared to GAAP expenses, reflecting efficiency improvements[47] Other Financial Information - The company experienced a net cash used in operating activities of $26,066,000 for the nine months ended September 30, 2024, an improvement from $32,263,000 in the same period of 2023[41] - The company issued 2,142,858 ordinary shares and warrants during the period, raising $27,139,000 net of issuance expenses[39] - The weighted average number of ordinary shares increased to 58,182,000 for the nine months ended September 30, 2024, compared to 55,900,000 for the same period in 2023[45]

Core Viewpoint - Nanox Imaging Ltd is set to report its financial results for Q3 2024 on November 21, 2024, with a conference call scheduled for 8:30 a.m. ET to discuss the results and provide a business update [1]. Company Overview - Nanox is focused on transitioning the world to preventive healthcare through affordable medical imaging technologies that utilize advanced AI and novel digital sources [3]. - The company's vision includes expanding the reach of its technology beyond hospital settings, providing a comprehensive solution from scan to diagnosis, and leveraging AI for enhanced diagnostics [4]. Product Ecosystem - Nanox.ARC: A multi-source Digital Tomosynthesis system that is cost-effective and user-friendly [4]. - Nanox.AI: An AI-based suite of algorithms that enhances routine CT imaging readings to identify early signs of chronic diseases [4]. - Nanox.CLOUD: A cloud-based platform for managing and storing data from Nanox devices, offering tools for detailed imaging analysis [4]. - Nanox.MARKETPLACE: A decentralized marketplace providing remote access to radiology and cardiology experts, along with a teleradiology services platform [4]. Business Strategy - By improving early detection and treatment, Nanox aims to enhance health outcomes globally [4].

Company Overview - Nanox Imaging Ltd is an innovative medical imaging technology company focused on making diagnostic medicine more accessible and affordable globally [3] - The company's vision includes increasing access, reducing costs, and enhancing the efficiency of routine medical imaging technology to improve health outcomes and save lives [3] Upcoming Event - Nanox's management will participate in the Cantor Fitzgerald Global Healthcare Conference from September 17-19, 2024, in New York City [1] - The fireside chat featuring CEO Erez Meltzer and CFO Ran Daniel is scheduled for September 18 at 10:55 am Eastern Time, accessible via a live webcast [2] Product and Service Offerings - The Nanox ecosystem includes several components: - Nanox.ARC, a multi-source Digital Tomosynthesis system that is cost-effective and user-friendly [3] - Nanox.AI, an AI-based suite of algorithms that enhances routine CT imaging readings to detect early signs of chronic diseases [3] - Nanox.CLOUD, a cloud-based infrastructure [3] - USARAD Holdings Inc., a subsidiary providing remote access to radiology and cardiology experts [3] - Nanox.MARKETPLACE, a comprehensive teleradiology services platform [3] - These products and services collectively create a comprehensive solution connecting medical imaging from scan to diagnosis [3]

Core Viewpoint - The stock price of Nano-X Imaging Ltd. (NNOX) has been on a bearish trend, losing 19.7% over the past four weeks, but the formation of a hammer chart pattern suggests a potential trend reversal as buying interest may be increasing [1]. Group 1: Technical Analysis - The hammer chart pattern indicates a possible bottoming out of the stock price, suggesting that selling pressure may be subsiding [1]. - A hammer pattern forms when there is a small candle body with a long lower wick, signaling that bears may be losing control and bulls are starting to gain traction [2]. - This pattern can occur across various timeframes and is used by both short-term and long-term investors, although it should be combined with other bullish indicators for confirmation [2]. Group 2: Fundamental Analysis - Recent upward revisions in earnings estimates for NNOX serve as a bullish indicator, with a 2.3% increase in the consensus EPS estimate over the last 30 days, reflecting analysts' improved outlook on the company's earnings [3]. - NNOX holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically indicates strong performance potential [3]. - The Zacks Rank is recognized as an effective timing indicator, suggesting that the company's prospects are beginning to improve, further supporting the case for a potential turnaround [3].

HealthCCSng V2.0 introduces additional 'zero calcium' categorization of coronary artery calcium (CAC) and generates a numerical calcium score with corresponding CAC detection category output Marks second FDA 510(k) clearance of HealthCCSng product PETACH TIKVA, Israel, Aug. 21, 2024 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD ("Nanox" or the "Company," Nasdaq: NNOX), an innovative medical imaging technology company, today announced that its deep-learning medical imaging analytics subsidiary, Nanox.AI, received 5 ...

Financial Performance - Generated $2.7 million in revenue in Q2 2024, a 3.8% increase from $2.6 million in Q2 2023[2] - Reported a net loss of $13.6 million in Q2 2024, down from a net loss of $17.4 million in Q2 2023, representing a decrease of $3.8 million[5] - Total revenue for the six months ended June 30, 2024, was $5,252 thousand, a 4.4% increase from $5,029 thousand for the same period in 2023[23] - Net loss for the six months ended June 30, 2024, was $(25,816) thousand, compared to $(29,125) thousand for the same period in 2023, reflecting an improvement in net loss[23] - The company reported a basic and diluted loss per share of $(0.45) for the six months ended June 30, 2024, compared to $(0.53) for the same period in 2023[23] - The company reported a basic and diluted loss per share of $0.28 for the six months ended June 30, 2024, compared to $0.37 for the same period in 2023[72] Revenue Breakdown - Revenue from teleradiology services was $2.5 million for both reported and comparable periods, with a gross profit margin of approximately 15%[8] - Revenue from AI solutions was $113 thousand in Q2 2024, with a gross loss of $2.0 million, compared to $53 thousand and a gross loss of $2.1 million in Q2 2023[9] - Total revenues for the six months ended June 30, 2024, were $5,252,000, with the Nanox.ARC division contributing $116,000, Radiology Services $4,926,000, and AI Solutions $210,000[64] - Approximately 96% of the company's total revenue for the six months ended June 30, 2024, was generated in the United States[68] Expenses - Research and development expenses decreased to $4.8 million in Q2 2024 from $6.9 million in Q2 2023, reflecting a decrease of $2.1 million[9] - General and administrative expenses were $5.9 million in Q2 2024, down from $7.6 million in Q2 2023, a decrease of $1.7 million[10] - Total operating expenses for the six months ended June 30, 2024, were $22,725 thousand, a decrease of 14.7% from $26,695 thousand for the same period in 2023[23] - GAAP research and development expenses were $10,032,000, with Non-GAAP adjustments resulting in a net of $8,716,000[76] - GAAP general and administrative expenses reached $10,958,000, with Non-GAAP adjustments bringing it down to $8,662,000[77] Cash and Assets - As of June 30, 2024, the company had total cash and equivalents of $64.2 million, down from $82.8 million as of December 31, 2023, a decrease of $18.6 million[14] - Total current assets decreased to $69,626 thousand as of June 30, 2024, down 21.5% from $88,635 thousand at December 31, 2023[22] - Cash and cash equivalents decreased to $38,982 thousand as of June 30, 2024, down 30.5% from $56,377 thousand at December 31, 2023[22] - As of June 30, 2024, the total cash, cash equivalents, and restricted cash equivalents for Nano-X Imaging Ltd. amounted to $38,982 thousand[30] - The company’s total assets as of June 30, 2024, were $195,721,000, with $114,380,000 from Nanox.ARC, $20,714,000 from Radiology Services, and $60,627,000 from AI Solutions[64] Liabilities and Equity - Total liabilities decreased to $20,586 thousand as of June 30, 2024, down 11.0% from $23,134 thousand at December 31, 2023[22] - Total shareholders' equity as of June 30, 2024, was $175,135 thousand, a decrease of 10.4% from $195,514 thousand at December 31, 2023[22] - The company reported a total of $24,884 million in debt securities due within one year as of June 30, 2024, down from $26,006 million as of December 31, 2023[46] Operational Developments - The company installed Nanox.ARC systems in seven states and has a robust sales pipeline[2] - Nanox.AI received FDA 510K clearance for HealthCCSng V2.0, enhancing its AI cardiac solution capabilities[2] - The company received FDA clearance for its multi-source Nanox.ARC system on April 28, 2023, enhancing its product offerings[31] - The company maintains contingency plans for manufacturing and assembly locations due to the ongoing security situation in Israel, which has not materially impacted operations as of June 30, 2024[33] Legal and Settlement Matters - The company entered into a settlement agreement for $8 million related to class action litigation, with $5 million deposited by the company and $3 million by the D&O insurance carrier[49] - The company has not yet responded to a claim filed in Israel demanding approximately $26.26 million, which includes $1.26 million for unpaid consulting fees and $25 million for claimed securities[50] Shareholder Information - The company had a total of 58,497,123 ordinary shares issued and outstanding as of June 30, 2024, an increase from 57,778,628 shares as of December 31, 2023[55] - The company granted a total of 203,500 options and 190,000 RSUs to employees during the six months ended June 30, 2024, with a fair value of $1,102 thousand for the options granted[57] - The company granted a total of 140,000 RSUs on April 16, 2024, and 50,000 RSUs to the CEO on June 25, 2024, with a fair value of $1,298 and $326, respectively[60] Market and Stock Information - The expected volatility of the company's stock is 80.29%, with a risk-free interest rate of 4.23%[60]

PETACH TIKVA, Israel, Aug. 06, 2024 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD ("Nanox" or the "Company," Nasdaq: NNOX), an innovative medical imaging technology company, today announced that it will report its financial results for the quarter ended June 30, 2024, before market open on Tuesday, August 20, 2024. Erez Meltzer, Chief Executive Officer and Acting Chairman, and Ran Daniel, Chief Financial Officer, will host a conference call to review these results and provide a business update beginning at 8:30 a. ...

Additional data presented by Corewell Health, Massachusetts General Hospital and Rabin Medical Center Findings presented at SCCT 2024 include: Optimizing Preventive Cardiology: Harnessing AI for Early Detection of Coronary Artery Disease Abstract Link (2024-A-641-SCCT) After being installed and implemented at Jefferson Einstein Hospital, HealthCCSng helped identify 757 patients aged 30 or above with CAC levels higher than 100 Agatston units. Opportunistic Screening of Coronary Artery Calcification on Non-ga ...

Nano-X Imaging Ltd. is a member of our Business Services group, which includes 315 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these sto ...