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 ...

PETACH TIKVA, Israel, June 25, 2024 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD ("Nanox" or the "Company," Nasdaq: NNOX), an innovative medical imaging technology company, today announced that data from five studies supporting the AI Cardiac Solution (HealthCCSng) of its subsidiary, Nanox AI, will be presented at the 19th Annual Meeting of the Society of Cardiovascular Computed Tomography (SCCT), being held July 18-21 in Washington, D.C. Nanox AI's Cardiac Solution (HealthCCSng) utilizes medical imaging data fro ...

Core Insights - Nanox Imaging Ltd announced the presentation of data from five studies supporting its AI Cardiac Solution at the upcoming SCCT meeting in Washington, D.C. [1] - The AI Cardiac Solution utilizes routine chest CT scans to quantify coronary artery calcium (CAC) levels, which are strong predictors of future cardiovascular events [2] Study Presentations - The studies being presented include topics such as the frequency and outcomes of incidentally detected CAC, optimizing preventive cardiology using AI, and enhancing cardiovascular risk assessment through AI [3][4] - Esteemed institutions involved in the presentations include Brigham & Women's Hospital, Einstein Jefferson Medical Center, Corewell Health, Massachusetts General Hospital, and Beilinson Medical Center [7] Company Overview - Nanox focuses on making diagnostic medicine more accessible and affordable globally, aiming to improve early detection and treatment of diseases [5] - The company's ecosystem includes a multi-source Digital Tomosynthesis system, AI-based algorithms for routine CT imaging, a cloud-based infrastructure, and a decentralized marketplace for remote access to radiology and cardiology experts [5] AI Technology Impact - Nanox AI's solutions are designed to target prevalent chronic and acute diseases, helping clinicians extract actionable insights from routine medical imaging [12]

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is Nano-X Imaging Ltd. (NNOX) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question. Nano-X Imaging Ltd. is a member of our Business Services group, which includes 316 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank incl ...

We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30. Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and e ...

Shares of Nano-X Imaging Ltd. (NNOX) have been struggling lately and have lost 6.8% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road. The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish cas ...

Nanox integrates FDA-cleared population health AI solutions into its Second Opinions service New AI capabilities available to patients who submit chest and abdominal CT scans for second opinions Offering the power of Artificial Intelligence to their second opinion CT report to promote early detection of chronic conditions PETACH TIKVA, Israel, June 05, 2024 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD ("Nanox" or the "Company," Nasdaq: NNOX), an innovative medical imaging technology company, today announced that ...