Nano-X Imaging (NASDAQ:NNOX) Posts Quarterly Earnings Results, Misses Expectations By $0.63 EPS

Nano-X Imaging (NASDAQ:NNOX) released its quarterly earnings data on Wednesday, September 9th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.63), Zacks reports. The company had revenue of $4.16 million for the quarter, compared to analyst estimates of $5.38 million. Nano-X Imaging had a negative return on equity of 116.93% and a negative net margin of 926.05%.

Here are the key takeaways from Nano-X Imaging’s conference call:

• Commercialization expanded with Nanox.ARC installations at RadNet, an orthopedic IDN, urgent care, and the first Nanox Imaging Network site in Philadelphia; the company reported some sites completing hundreds of scans monthly and 10 U.S. distribution partnerships.
• The Nanox Imaging Network has begun receiving insurer payments of approximately $200–$700 per claim, while management estimates potential annual revenue of roughly $500,000 to $1 million per site depending on utilization and reimbursement. A new CMS code for AI analysis of coronary and aortic valve calcification may also support Nanox.AI adoption.
• Q2 revenue increased 37% year over year to $4.2 million, driven largely by the acquired Nanox Health IT business and continued growth in teleradiology, which averaged 14% year-over-year growth in the first half of 2026.
• Financial losses and liquidity pressures remain significant: adjusted EBITDA loss widened to $11.3 million, cash and restricted deposits fell to $31.4 million from $60 million at year-end, and the company recorded a $40.7 million non-cash impairment charge. Nanox subsequently raised $8.5 million through equity offerings and said it expects to continue seeking additional capital.
• Management acknowledged that commercialization has taken longer than expected and announced workforce and manufacturing reductions, including a 15% cut among Israeli employees and a two-thirds reduction in Korea, where chip production was idled. The company expects about $2 million in annualized savings beginning in 2027, while shifting production to third-party suppliers and preparing to sell its Korean facility.

Nano-X Imaging Stock Performance

NASDAQ:NNOX opened at $0.45 on Monday. The stock has a market cap of $35.59 million, a P/E ratio of -0.21 and a beta of 1.28. The stock’s 50-day moving average is $0.75 and its 200-day moving average is $1.33. Nano-X Imaging has a 1-year low of $0.45 and a 1-year high of $4.71.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NNOX. Alliance Global Partners lowered shares of Nano-X Imaging from a “buy” rating to a “neutral” rating and cut their target price for the company from $5.00 to $3.00 in a research report on Tuesday, July 7th. Zacks Research upgraded shares of Nano-X Imaging from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nano-X Imaging in a report on Friday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price target on shares of Nano-X Imaging in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.33.

Insider Activity at Nano-X Imaging

In other Nano-X Imaging news, CEO Erez Meltzer bought 36,000 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were acquired at an average cost of $0.93 per share, for a total transaction of $33,480.00. Following the transaction, the chief executive officer directly owned 36,000 shares in the company, valued at approximately $33,480. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dan S. Suesskind bought 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were acquired at an average price of $0.76 per share, for a total transaction of $45,600.00. Following the completion of the transaction, the director owned 110,000 shares in the company, valued at $83,600. This trade represents a 120.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 175,443 shares of company stock valued at $150,006 in the last ninety days.

Nano-X Imaging Company Profile

Nano-X Imaging Ltd. is a medical technology company developing digital X-ray and medical imaging solutions. Its primary product is the Nanox.ARC, a digitally driven X-ray system designed to provide imaging capabilities in hospitals, clinics and other healthcare settings. The company’s approach is intended to support more accessible and affordable diagnostic imaging, including in locations where conventional radiology infrastructure may be limited.

Nano-X also offers cloud-based services through its Nanox.CLOUD platform, which is designed to connect imaging devices, manage examinations and facilitate the transmission and review of medical images.