Nano-X Imaging (NNOX) Q2 2026 earnings summary

Executive summary

• Expanded commercialization in the U.S., Europe, and Latin America, with new installations, partnerships, and distribution agreements, including the first Nanox Imaging Network site and new pilots for AI solutions.

• Operational improvements included leveraging commercial partners, refining deployment, and expanding Health IT commercial activity with over 20 new projects in H1 2026.

• Strategic restructuring in South Korea, including idling chip production, transitioning to third-party manufacturing, and a 67% workforce reduction, targeting $2 million in annual cost savings from 2027.

• Continued growth in teleradiology and AI segments, with new pilots, clinical studies, and reimbursement pathways established.

Financial highlights

• Q2 2026 revenue reached $4.2 million, up 37% year-over-year from $3.0 million, driven by Health IT consolidation.

• Adjusted EBITDA loss was $11.3 million, compared to $10.4 million in Q2 2025.

• GAAP net loss was $55.5 million, primarily due to a $40.7 million impairment charge on intangible assets.

• Cash and equivalents stood at $31.4 million as of June 30, 2026, down from $60 million at year-end 2025.

• Raised $8.5 million post-quarter via ATM program and direct offering.

Outlook and guidance

• Expect revenue impact from recent commercial progress and Imaging Network expansion in the coming months.

• $2 million in annualized cost savings anticipated from 2027, mainly in operating expenses.

• Ongoing efforts to raise additional capital to support operations and extend cash runway.