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Sep 30, 2025
Nano-X Q3 2025 Earnings Report
Nano-X reported increased revenue and continued operational investments in Q3 2025, with a widened non-GAAP net loss.
Key Takeaways
Nanox grew its Q3 revenue year-over-year to $3.4M, but continued to operate at a net loss as it invested in commercialization and AI development. The acquisition of Vaso Healthcare IT and expanding clinical trials marked key strategic steps.
Revenue by Segment
Forward Guidance
The company expects over 100 units (clinical, demo, and commercial) deployed worldwide by year-end and projects $35M in revenue for full-year 2026.
Positive Outlook
- Targeting 100+ system deployments by end of 2025
- Full-year 2026 revenue projected at $35M
- Expanded commercial collaborations globally
- Acquisition of Vaso Healthcare IT to grow AI segment
- Increased teleradiology gross margins
Challenges Ahead
- Ongoing operating losses
- Increased non-GAAP operating expenses YoY
- Decline in AI solutions revenue vs. last year
- Significant cash burn from operations
- High gross loss margin despite revenue growth
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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