Nano-X Imaging (US:NNOX)2022-03-31 11:59Revenue Performance - Revenue for Q4 2021 was $1.3 million, compared to $0 for Q4 2020, with a non-GAAP gross profit of $0.2 million[4] - The company reported a revenue of $1.304 million for the year ended December 31, 2021, compared to $0 for the previous two years[35] Net Loss and Expenses - The company reported a net loss of $22.0 million for Q4 2021, an increase from a net loss of $19.0 million in Q4 2020, primarily due to merger-related expenses[5] - The non-GAAP net loss applicable to ordinary shares for Q4 2021 was $15.0 million, compared to $8.4 million in Q4 2020[9] - The company reported a net loss of $61.798 million for 2021, compared to a net loss of $43.815 million in 2020, which is a 41% increase[35] - The non-GAAP net loss attributable to ordinary shares for 2021 was $39.124 million, compared to $18.902 million in 2020, reflecting a 106% increase[37] Research and Development - Research and development expenses for Q4 2021 were $6.4 million, up from $3.0 million in Q4 2020, driven by the merger and increased R&D headcount[6] - Research and development expenses rose to $17.122 million in 2021, up from $9.210 million in 2020, indicating a 85% increase[35] General and Administrative Expenses - General and administrative expenses increased to $10.9 million in Q4 2021 from $8.1 million in Q4 2020, largely due to merger-related costs and legal fees[8] Cash and Assets - The company had $88.7 million in cash and cash equivalents as of December 31, 2021, down from $213.5 million a year earlier[12] - Cash and cash equivalents decreased significantly to $66.645 million in 2021 from $213.468 million in 2020, a decline of 69%[33] - The company's total assets increased to $363.170 million in 2021 from $236.149 million in 2020, representing a growth of 54%[33] Liabilities - Total current assets were $94.9 million and total current liabilities were $52.8 million, resulting in working capital of $42.1 million[12] - The total liabilities rose to $71.022 million in 2021, compared to $5.403 million in 2020, marking a substantial increase[33] Shareholder Information - The weighted average number of ordinary shares increased to 48.216 million in 2021 from 35.654 million in 2020, a rise of 35%[37] Future Outlook - The American Medical Association issued a new CPT code for quantitative CT tissue characterization, effective July 2022, which may enhance future revenue opportunities[3] - The company is focused on the development and commercialization of its X-ray source technology and the Nanox.ARC, with expectations for future growth and market acceptance[25]