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

Company overview and technology

• Developed a nanobeam X-ray chip enabling 3D imaging, moving beyond traditional 2D X-rays.

• Offers an end-to-end solution from predictive to preventive care, including AI and teleradiology.

• ARC system cleared by FDA, with additional regulatory submissions in progress for broader use.

• Strategic partnership with Varex for future product development.

• Acquisitions have expanded capabilities in AI and teleradiology.

Business and payment models

• Four business models: MSaaS (per-scan), capital sales, hybrid, and OEM/licensing.

• MSaaS charges $30 per scan in the US, $14–$17 internationally, with multi-year contracts.

• Backlog of over 7,000 units outside the US, supported by distributor agreements.

• Contracts typically span 4–6 years with minimum scan requirements.

Commercialization and market expansion

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

• Plug-and-play design, small footprint, and minimal CapEx requirements facilitate adoption.

• Ongoing clinical trials in Israel, Ghana, and the US to support new applications.

• US sales force currently at 15, aiming for 30–40 by end of 2025.