Nano-X Imaging Q3 revenue grows on AI solutions; flags going concern issues

Overview

• Israel medical imaging tech firm's preliminary Q3 revenue rose yr/yr

• Company's AI and software solutions revenue grew, driven by consolidation of Nanox Health IT Inc.

• Company warns cash levels raise substantial doubt about ability to continue as a going concern

Outlook

• Company expects cash and deposits as of Sept 30, 2026, are not sufficient for one year

• Company expects to continue to incur significant costs related to ongoing operations

• Company may delay, reduce or eliminate product development if unable to raise additional funds

Result Drivers

• AI AND SOFTWARE SOLUTIONS - Revenue growth driven mainly by consolidation of Nanox Health IT Inc.

• IMAGING SYSTEM SALES - Higher imaging system and OEM services revenue attributed to additional Nanox.ARC CapEx agreement

• TELERADIOLOGY SERVICES - Teleradiology revenue remained flat yr/yr at $3.1 mln

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

• Wall Street's median 12-month price target for Nano-X Imaging Ltd is $4.40, about 795.9% above its October 15 closing price of $0.49

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)