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Nano-X Imaging (NNOX) investor relations material

Nano-X Imaging Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary20 Nov, 2025

Executive summary

  • Transitioned from hardware-focused to a comprehensive imaging platform with a three-pillar strategy: technology expansion, AI integration, and operational efficiency.

  • Revenue for Q3 2025 was $3.4 million, up from $3.0 million in Q3 2024, driven by teleradiology and AI solutions.

  • Net loss for Q3 2025 was $13.7 million, slightly higher than $13.6 million in Q3 2024.

  • Completed acquisition of VasoHealthcare IT to expand AI solutions and accelerate recurring revenue streams.

  • Expanded global presence with new distribution agreements and clinical collaborations, including Cedars-Sinai and Olympe Imagerie.

Financial highlights

  • Q3 2025 GAAP net loss was $13.7 million, slightly higher than $13.6 million in Q3 2024.

  • Revenue for Q3 2025 was $3.4 million, up from $3.0 million year-over-year.

  • Non-GAAP net loss attributable to ordinary shares was $9.9 million, up from $8.7 million in Q3 2024.

  • Cash, cash equivalents, and marketable securities totaled $55.5 million as of September 30, 2025.

  • Teleradiology services revenue grew to $3.1 million in Q3 2025, with GAAP gross profit margin improving to 25% from 13% year-over-year.

Outlook and guidance

  • 2026 revenue guidance set at $35 million, superseding all prior outlooks, with growth expected to ramp up throughout the year.

  • AI business segment projected to reach EBITDA break-even on a quarterly basis in 2026; company-wide EBITDA break-even targeted for 2027.

  • Expects to have over 100 clinical, demo, and commercial units deployed worldwide by year-end 2025.

  • VasoHealthcare IT expected to contribute approximately $4 million in annual revenue.

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Frequently asked questions

Nano-X Imaging Ltd., a development-stage company, develops, produces, and commercializes digital X-ray source technology for the medical imaging industry worldwide. The Company's technology is a platform for inexpensive, high-speed, highly sensitive x-ray detectors and imagers that enable lower operating costs and reduced exposure to ionizing radiation compared to existing technologies.

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