Nano-X Imaging (NNOX) 2024 Cantor Fitzgerald Global Healthcare Conference summary

Technology and product overview

• Developed a nanobeam X-ray chip enabling 3D imaging, transforming traditional 2D X-ray into tomosynthesis.

• ARC system cleared by FDA 510(k), with ongoing regulatory submissions for expanded indications and CE mark for Europe.

• End-to-end solution includes scanning hardware, AI-driven image analysis, and teleradiology services.

• AI applications cover cardiac calcium scoring, fatty liver, and bone density, supporting predictive and preventive medicine.

• Roadmap includes new ARC X version with smaller footprint and plug-and-play installation, with more details to be announced.

Business model and commercialization

• Four business models: per-scan MSaaS, capital sales, hybrid, and OEM/licensing, with multi-year agreements and global reach.

• U.S. scans priced at $30, international at $14–$17, with a backlog of over 7,000 units outside the U.S.

• Installations span hospitals, clinics, and imaging centers, targeting underserved segments and expanding access.

• Sales force in the U.S. currently at 15, aiming for 30–40 by end of 2025 to support growth.

• Cash flow breakeven estimated at around 1,500 fully deployed units, depending on revenue mix.

Clinical trials and regulatory progress

• Ongoing clinical trials at Shamir Medical Center (MSK), Rabin Medical Center (chest/pulmonary), UGMC in Ghana, and upcoming U.S. sites.

• Recent FDA clearances for new CCS version and MSK; full body scan 510(k) submitted, with decision expected by November.

• CE mark process for Europe nearing completion, expected clearance this or next quarter.

• System updates, including new protocols and expanded indications, are delivered remotely via cloud-based infrastructure.