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Nano-X Imaging (NNOX) investor relations material

Nano-X Imaging Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary12 Aug, 2025

Executive summary

  • Revenue for Q2 2025 was $3.0M, up from $2.7M in Q2 2024, driven by teleradiology and system sales, with a focus on expanding the commercial footprint in the U.S. and Europe and targeting over 100 system deployments by year-end 2025.

  • Net loss for Q2 2025 was $14.7M, up from $13.6M in Q2 2024; non-GAAP net loss was $10.9M versus $8.4M prior year.

  • Expanded installed base with new U.S. imaging center customers and first EU system shipment prepared, supported by academic and commercial collaborations.

  • Entered a multi-year supply agreement with Fabrinet to scale production and notified FDA of intent to submit TAP2D software for clearance.

  • Significant progress in clinical strategy, education, and digital platform launches to drive adoption and credibility.

Financial highlights

  • Q2 2025 revenue: $3.0M (Q2 2024: $2.7M); teleradiology services contributed $2.7M with an 18% GAAP gross profit margin and 38% non-GAAP margin.

  • GAAP gross loss: $3.2M (margin -107%); non-GAAP gross loss: $0.6M (margin -21%).

  • Net loss: $14.7M; non-GAAP net loss: $10.9M.

  • Cash, equivalents, and marketable securities at June 30, 2025: $62.6M (down from $83.5M at Dec 31, 2024).

  • Negative operating cash flow for the period: $19.6M.

Outlook and guidance

  • Expects over 100 clinical, demo, and commercial units deployed globally by year-end 2025, assuming stable macroeconomic conditions.

  • Revenues from new deployments anticipated in the second half of 2025, with AI business targeting breakeven in 2026.

  • Operating expenses expected to remain stable, with losses projected to decline as revenue increases.

  • Focus on U.S. and EU markets for both ARC and AI, with expansion into Latin America and selective presence in Asia.

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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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