Core Viewpoint - Nanox Imaging Ltd. has signed a distribution agreement with Imperial Imaging Technology to enhance the commercial rollout of its Nanox.ARC system in six southeastern U.S. states, focusing on orthopedic practices and improving access to advanced imaging technology [1][3][4]. Group 1: Distribution Agreement Details - The agreement designates Imperial Imaging as the distributor for the Nanox.ARC system in Georgia, Alabama, Tennessee, North Carolina, South Carolina, and Northern Florida [3]. - Imperial Imaging will handle marketing, sales, customer support, product demonstrations, and clinical evaluations for orthopedic practices [3][4]. Group 2: Market Expansion Strategy - This partnership aligns with Nanox's strategy to build a diverse network of regional distributors with expertise in orthopedic and musculoskeletal practices [4]. - The collaboration aims to expand access to advanced musculoskeletal imaging directly within orthopedic practices, improving patient care and clinical workflows [5][7]. Group 3: Technology and Benefits - The Nanox.ARC system offers 3D imaging capabilities at a lower cost and reduced radiation dose compared to traditional CT scans [2]. - The system is reimbursable under an existing CPT code, eliminating the need for pre-authorization, which can reduce administrative burdens and expedite patient treatment [5][7]. Group 4: Company Background - Imperial Imaging, founded in 2019, has quickly established itself as a leading distributor in the orthopedic community, known for its service and installation expertise [6]. - Nanox aims to drive the transition to preventive healthcare through an integrated medical imaging and healthcare services platform, combining affordable imaging hardware, AI solutions, and cloud-based software [8][9].

Core Viewpoint - Nanox Imaging Ltd. has entered into a distribution agreement with Intec SRL to expand the commercialization of its 3D medical imaging technology, the Nanox.ARC, in Argentina, targeting the high-growth private healthcare market [1][4]. Company Overview - Nanox Imaging Ltd. is focused on transforming healthcare through innovative medical imaging technology, aiming to provide affordable imaging solutions and improve access to preventive healthcare [7][8]. - The company’s ecosystem includes various components such as the Nanox.ARC imaging system, AI-based solutions, cloud services, and remote radiology access [9][10]. Partnership Details - Intec SRL will act as the exclusive distributor for the Nanox.ARC system in Argentina, managing marketing, distribution, installation, and support [3][5]. - The partnership aims to enhance access to high-quality imaging technology in underserved communities across Argentina [4]. Product Information - The Nanox.ARC is a multi-source digital tomosynthesis system that offers 3D imaging capabilities at a lower cost and with reduced radiation exposure compared to traditional CT scans [2]. - The commercialization of the Nanox.ARC in Argentina is contingent upon obtaining necessary regulatory approvals [4]. Market Context - The private healthcare sector in Argentina represents a significant portion of the diagnostic demand, indicating a strong market potential for the Nanox.ARC system [2]. - Intec SRL has over 35 years of experience in distributing advanced medical technologies, which positions it well to support the introduction of Nanox's products [6].

Core Insights - Nanox Imaging Ltd will showcase its Nanox.ARC digital tomosynthesis system live in Europe for the first time at the European Congress of Radiology (ECR) from March 4-8, 2026, in Vienna, Austria [1][5] Product Overview - The Nanox.ARC is a CE-marked and FDA-cleared multi-source digital tomosynthesis system that enables 3D imaging at a lower cost and significantly reduced radiation dose compared to traditional CT [2][4] - The system's smaller footprint and simplified installation make it suitable for various European healthcare settings, from major medical centers to community clinics [2][4] Demonstrations and Presentations - Live demonstrations of the Nanox.ARC will occur every 30 minutes at booth 425 during the ECR [3][6] - New clinical data on the role of digital tomosynthesis in lung cancer screening will be presented, along with the TAP2D cloud-enabled image enhancement [3][4] - Oral presentations will cover the potential of digital tomosynthesis in lung cancer screening and the role of AI in CT imaging [5][6] AI Solutions - Nanox will showcase its FDA-cleared AI solutions that analyze routine CT scans for chronic disease indicators, including the AI Cardiac solution (HealthCCSng), AI Bone solution (HealthOST), and AI Liver solution (HealthFLD) [4][9] - Two new AI solutions under development for aortic valve calcification and body composition measurement will also be presented [4] Clinical Studies - Poster presentations will feature new data from the ADOPT study conducted in the UK, highlighting the impact of AI-enabled vertebral fracture identification on clinical workflows and treatment recommendations [4][8] Company Vision - Nanox aims to drive the transition to preventive healthcare by providing an integrated medical imaging and healthcare services platform, combining affordable imaging hardware, advanced AI solutions, and cloud-based software [9][10] - The company's vision includes expanding the reach of medical imaging beyond traditional hospital settings to enhance efficiency and support early disease detection [10][12] Ecosystem Components - The Nanox ecosystem includes the Nanox.ARC imaging system, Nanox.AI for AI-based algorithms, Nanox.CLOUD for data management, and Nanox Health IT for healthcare IT solutions [11]

Core Insights - Nanox Imaging Ltd. has announced a collaboration with Adriamed to expand its commercial presence in Southeast Europe, particularly in Serbia, Montenegro, and Bosnia and Herzegovina [1][2][4] Group 1: Collaboration Details - Adriamed will serve as the exclusive partner for the Nanox.ARC system in the region, managing marketing, distribution, installation, and support [3] - The Nanox.ARC system utilizes advanced 3D imaging technology to provide enhanced diagnostic capabilities at a lower cost compared to traditional systems, and it holds CE Mark certification for commercialization across Europe [2][3] Group 2: Strategic Goals - The collaboration aims to improve access to cost-effective imaging solutions in underserved communities, thereby enhancing patient care and long-term health outcomes [4][6] - Nanox's strategy focuses on leveraging established regional partners to support market penetration and deliver long-term value to healthcare providers [4][6] Group 3: Company Overview - Nanox is dedicated to transforming healthcare through an integrated medical imaging and healthcare services platform, combining affordable imaging hardware, AI solutions, and cloud-based software [5][6] - The company's vision includes expanding the reach of medical imaging beyond traditional hospital settings, enhancing efficiency in imaging workflows, and supporting early disease detection [6][8]

Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $13.7 million for Q3 2025, compared to a net loss of $13.6 million in Q3 2024 [31] - Revenue for Q3 2025 was $3.4 million, an increase from $3.0 million in the comparable period [31] - Non-GAAP gross loss for the reported period was $0.3 million, compared to a gross loss of $0.2 million in the comparable period, representing a gross loss margin of approximately 8% [32] Business Line Data and Key Metrics Changes - Revenue from teleradiology services for Q3 2025 was $3.1 million, with a gross profit of $0.1 million, compared to revenue of $2.6 million and a gross profit of $0.3 million in the comparable period [32] - Revenue from the sale and deployment of imaging systems and OEM services amounted to $175,000 for the reported period, with a gross loss of $1.7 million [35] - Revenue from AI solutions for the reported period was $0.1 million, with a gross loss of $1.9 million [35] Market Data and Key Metrics Changes - The company is expanding its presence in Europe with new agreements in the Czech Republic and France, indicating rising demand for its imaging ecosystem [7][15] - The company aims to deploy 100 systems worldwide by the end of 2025, with several systems pending regulatory approval [7] Company Strategy and Development Direction - The company is focused on building a comprehensive medical imaging portfolio, reinforcing its position in the medical AI sector, and deepening its foothold in the U.S. healthcare system [4][5] - The acquisition of VasoHealthcare IT is intended to enhance customer service and expand the company's operational capabilities [10][22] - The company is preparing to launch the next-generation Nanox.ARC X system, which is designed to meet diverse clinical needs and expand the addressable market [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving over $35 million in revenues for 2026, driven by strategic partnerships and the acquisition of VasoHealthcare IT [5][39] - The company anticipates that the AI business segment will achieve EBITDA break-even on a quarterly basis in 2026, while the overall company aims for break-even in 2027 [30][62] Other Important Information - The company has a strong presence planned at the RSNA annual meeting, where it will provide insights into its commercial progress and future strategy [13][21] - The company is actively engaged in clinical trials to support the use of its solutions in lung cancer detection and management [18][20] Q&A Session Summary Question: How many systems were in the field and performing scans that resulted in your revenue of $175,000? - The CEO mentioned that a few dozen systems were deployed, with some pending installation and regulatory approvals [44] Question: What types of agreements should we be thinking about in terms of those being lease versus capital sales? - The CFO indicated that the majority of agreements are expected to be MSES, with some CapEx sales anticipated [48] Question: Could you talk about how OpEx could look over the next four to six quarters? - Management indicated that sales and marketing expenses will increase due to deployment efforts, while R&D expenses will be more controlled [56] Question: Could you talk about Vaso and the types of customers they currently have? - The CEO stated that Vaso's customers are primarily medical-related, serving hospitals and imaging centers, presenting cross-selling opportunities [58] Question: Could you reiterate the break-even expectations for the AI business and ARC division? - Management reiterated that the AI business is expected to reach quarterly break-even in 2026, while the ARC division aims for break-even in 2027 [60][62]

Core Viewpoint - Nanox Imaging Ltd has announced the acquisition of VasoHealthcare IT Inc to enhance the deployment of its AI solutions in U.S. healthcare facilities, with the transaction expected to be completed within weeks [1][2]. Company Overview - Nanox is focused on transforming healthcare through affordable medical imaging technologies that leverage advanced AI and proprietary digital X-ray sources [8]. - Vaso Corporation operates in diversified sectors, including healthcare technology and medical devices, with VHC IT being a key player in healthcare information technology [10]. Acquisition Details - The acquisition will involve a total consideration of up to $800,000, which includes a $200,000 cash payment at closing and up to $600,000 in performance-based earnout payments over two years, contingent on revenue retention from existing customers [5]. - VHC IT specializes in healthcare IT implementation, providing services such as systems integration, workflow optimization, and user training, which will be integrated with Nanox's AI solutions [3][4]. Strategic Implications - The integration of VHC IT's operational infrastructure with Nanox.AI's FDA-cleared solutions is expected to accelerate the deployment and adoption of AI technologies in medical imaging, enhancing the customer experience [4][6]. - The acquisition is anticipated to support Nanox's commercial expansion in the U.S. by leveraging VHC IT's expertise and established customer relationships [4][6].

Core Insights - Nanox Imaging Ltd. reported a net loss of $14.7 million for Q2 2025, an increase from a net loss of $13.6 million in Q2 2024, primarily due to higher gross loss and finance expenses [4][15] - The company generated revenue of $3.0 million in Q2 2025, up from $2.7 million in Q2 2024, driven by teleradiology services, imaging systems sales, and AI solutions [5][8] - Nanox is on track to meet its year-end deployment target for the Nanox.ARC system, with a growing commercial pipeline and a breakthrough in the European market [3][18] Financial Performance - The gross loss for Q2 2025 was $3.2 million, with a gross loss margin of 107%, compared to a gross loss of $2.9 million and a margin of 106% in Q2 2024 [6][8] - Non-GAAP gross loss for Q2 2025 was $0.6 million, compared to $0.2 million in Q2 2024, indicating a worsening trend in operational efficiency [16][47] - Research and development expenses remained stable at $4.8 million for both Q2 2025 and Q2 2024, while sales and marketing expenses increased to $1.2 million from $0.8 million [12][13] Business Developments - The company has expanded its customer base, including major medical imaging center chains in the U.S., and is preparing for the first system shipment to Romania [8][3] - Nanox has notified the FDA of its intent to submit the TAP2D software module for a 2D view image output, enhancing the functionality of the Nanox.ARC systems [8] - A multi-year Volume Supply Agreement was established with Fabrinet to support scalable production of Nanox.ARC X [8] Liquidity and Capital Resources - As of June 30, 2025, the company had total cash and equivalents of $62.6 million, down from $83.5 million at the end of 2024, with a negative cash flow from operations of $19.6 million during the reported period [19][20] - The total assets decreased to $184.2 million from $210.0 million at the end of 2024, reflecting a decline in cash and marketable securities [30][20] Shareholder Information - The company had approximately 63.9 million shares outstanding as of June 30, 2025, a slight increase from 63.8 million shares at the end of 2024 [21][20] - The accumulated deficit increased to $401.7 million as of June 30, 2025, compared to $373.7 million at the end of 2024 [30][20]

Business Updates - Nanox submitted a new 510k submission to the FDA to expand the intended use cases for the Nanox.ARC for general use, including chest[13] - Nanox advanced the US deployment program for the Nanox.ARC technology, with systems installed in eight states[14, 18] - Nanox.AI Receives FDA 510K Clearance for HealthCCSng V2.0, upgraded version of the cardiac solution, introduces additional 'zero calcium' categorization of coronary calcium (CAC) and generates an exact calcium score with corresponding CAC detection category output[15] - Nanox is engaged with various OEMs and governments around the world to evaluate and/or develop X-ray tubes, industrial inspection applications, security systems, dental, veterinary and other novel medical devices[21] Commercial Strategy - Nanox employs a hybrid approach combining a usage-based MSaaS model with a CapEx model to help promote adoption[19] - Under the MSaaS model, for U.S. CPT Code 76100, the reimbursement range is $88–$109, with Nanox pricing at $30 for scanning and $20 for reading, resulting in a net to operator of $28–$49 (48%-62%) and $10 (33%) respectively[19] - Outside the U.S., Nanox prices scanning at $14–$17 and reading at $20, totaling $34–$37[19] AI Solutions & Clinical Performance - Corewell Health significantly increased their ability to detect coronary calcification by using Nanox.AI's cardiac solution, identifying nearly 3,721 new patients in 2023 compared to just 268 patients having CAC reported in the previous two years[37, 39] - Early findings in the ADOPT study show that Nanox.AI software improves the detection of spine fractures, an early sign of osteoporosis, outperforming UK National Health Service national average[41, 43] - Clinical Trial 08.2024: Preliminary Results for Chest DTS, Radiographically occult lesion (seen on DTS only. Not seen on CXR): 19/26[66] Nanox.ARC X - Nanox.ARC X is a future 3D digital multi-source tomosynthesis system with a smaller footprint[86, 88]

Core Insights - Nanox Imaging Ltd reported a net loss of $13.2 million for Q1 2025, an increase from a net loss of $12.2 million in Q1 2024, primarily due to a $1.0 million increase in gross loss [3][8][13] - The company generated revenue of $2.8 million in Q1 2025, up from $2.6 million in Q1 2024, driven by teleradiology services, imaging systems sales, and AI solutions [4][8] - Nanox received FDA 510(k) clearance for its updated Nanox.ARC X system, marking a significant milestone in its mission to enhance access to medical imaging technology [2][8] Financial Performance - The gross loss for Q1 2025 was $3.0 million, with a gross loss margin of 108%, compared to a gross loss of $2.1 million and a margin of 80% in the prior year [5][8] - Non-GAAP gross loss for Q1 2025 was $0.4 million, a decline from a non-GAAP gross profit of $0.6 million in Q1 2024 [14][45] - Revenue from teleradiology services was $2.6 million in Q1 2025, up from $2.4 million in Q1 2024, with a GAAP gross profit margin of approximately 17% [6][8] Operational Highlights - The company has over 60 imaging units in various stages of implementation for commercial, demonstration, and clinical use [2] - Research and development expenses for Q1 2025 were $5.0 million, a slight decrease from $5.2 million in the prior year [10] - Sales and marketing expenses increased to $0.9 million in Q1 2025 from $0.8 million in Q1 2024 [11] Liquidity and Capital Resources - As of March 31, 2025, the company had total cash and cash equivalents of $72.9 million, down from $83.5 million at the end of 2024 [17] - The company experienced negative cash flow from operations of $10.3 million during the reported period [17][38] Future Outlook - Nanox anticipates that the number of clinical, demo, and commercial units will exceed 100 by the end of 2025, assuming stable macroeconomic conditions [16]

Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $14.1 million for Q4 2024, compared to a net loss of $10.2 million in Q4 2023, primarily due to an increase in gross loss and other expenses [53][54] - Revenue for the reported period was $3.0 million, with a gross loss of $2.9 million, compared to revenue of $2.4 million and a gross loss of $1.7 million in the comparable period [55] - Non-GAAP gross loss for the reported period was $0.3 million, compared to a gross profit of $0.9 million in the comparable period, indicating a significant decline in gross profit margin [55] Business Line Data and Key Metrics Changes - Revenue from teleradiology services was $2.8 million with a gross profit of $0.6 million, up from $2.3 million and a gross profit of $0.3 million in the comparable period, reflecting improved gross profit margins [55] - Revenue from the sale and deployment of imaging systems amounted to $136,000, a significant increase from $17,000 in the comparable period, driven by sales of 2D systems and OEM projects [56] - Revenue from AI solutions was $83,000, consistent with the previous period, but with a slight decrease in non-GAAP gross profit [56] Market Data and Key Metrics Changes - The company has expanded its commercial coverage in the U.S. to seven states, with a focus on small and medium-sized medical imaging centers and multi-specialty medical centers [19][77] - The company is actively pursuing entry into the European market following the CE mark certification, with new distribution agreements signed in Romania and Greece [31][92] Company Strategy and Development Direction - The primary focus remains on accelerating the deployment of the Nanox. ARC and AI solutions in the U.S. while expanding into the European market [17][24] - The company aims to enhance its market presence through strategic partnerships and channel agreements, particularly in the durable medical equipment space [22][23] - The company is committed to generating clinical validation and raising awareness of its technology among healthcare professionals [27][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2025 being a strong year for AI solutions and emphasized the importance of regulatory milestones and market education [103][118] - The company is focused on building a robust pipeline and converting installations into revenue-generating scans [89][118] - Management highlighted the positive feedback from customers and the potential for the Nanox. ARC to transform the medical imaging market [123] Other Important Information - The company ended the quarter with approximately $83.5 million in cash and cash equivalents, indicating a solid financial position to support ongoing operations [58] - The company issued approximately 5 million ordinary shares, raising gross proceeds of $38.8 million under its sales agreement [60] Q&A Session Summary Question: Can you elaborate on the DME partners in the U.S.? - The company will offer both CapEx direct sales and traditional models through DME partners [66][67] Question: How many systems were deployed in the U.S. during the quarter? - Exact numbers were not disclosed, but the company indicated that installations are in various stages and that the pipeline remains robust [85][86] Question: What is the pricing strategy for ARC in Europe? - The company expects most sales in Europe to be CapEx sales, with installations likely starting in the next two quarters [90][92] Question: What is the outlook for 2025? - Management refrained from providing specific guidance but indicated that 2025 is expected to be a meaningful year for growth, particularly in AI and imaging solutions [96][104] Question: Can you discuss the capital raised and its deployment? - Approximately $38 million was raised, which will be used to accelerate commercialization efforts for both imaging and AI products [116][118]