Q2 2025 Nano-X Imaging Ltd Earnings Call Transcript
Key Points
- Nano X Imaging Ltd (NNOX) is making steady progress towards its goal of 100 non-USAC systems installations by the end of 2025.
- The company has expanded its commercial footprint in the US and Europe, with installations in countries like Romania and Greece following the attainment of the CE mark.
- Nano X Imaging Ltd (NNOX) has established collaborations with prestigious academic institutions such as Duke University and Kaiser University to enhance clinical education and research.
- The company is developing a mobile imaging solution to expand access to high-quality diagnostic imaging, which could create new opportunities for service delivery and revenue growth.
- Nano X Imaging Ltd (NNOX) has entered into a multi-year volume supply agreement with a leading global electronics manufacturing services provider to support scalable production and reduce manufacturing costs.
- The company reported a GAAP net loss of $14.7 million for the second quarter of 2025, an increase from the $13.6 million loss in the same period of 2024.
- Revenue from AI solutions remains low, with only $0.1 million reported for the quarter, accompanied by a gross loss of $2.0 million.
- Operating expenses remain high, with sales and marketing expenses increasing due to commercialization efforts in the US market.
- The company is still in the process of securing import permits and certifications for certain markets, such as Mexico, which could delay expansion efforts.
- Nano X Imaging Ltd (NNOX) is facing challenges in achieving profitability, with expectations for break-even in AI solutions not anticipated until 2026.
Good day and thank you for standing by.
Welcome to the Nano-X Imaging second-quarter 2025 earnings call.
(Operator Instructions)
Please be advised that today's conference is being is being recorded.
I would like to hand it over to you first speaker, Mike Cavanaugh, Investor Relations. Please go ahead.
Good morning and thank you for joining us today.
Earlier today, Nano-X Imaging Limited released financial results for the quarter ended June 30, 2025. The release is currently available on the investors section of the company's website.
With me today are Aris Meltzer, Chief Executive Officer and acting Chairman; and Ran Daniel, Chief Financial Officer.
Before we get started, I would like to remind everyone that management will be making statements during this call that include forward-looking statements regarding the company's financial results, research and development, manufacturing and commercialization activities, regulatory process and
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