NNOX

Image source: The Motley Fool. Wednesday, Sept. 9, 2026 at 8:30 a.m. ET Investor Relations - Mike Cavanaugh Chief Executive Officer and Acting Chairman - Erez Meltzer Chief Financial Officer - Guy Nathanzon Operator: Good day, and thank you for standing by. Welcome to the Nanox Q2 2026 Earnings Call. [Operator Instructions] Please be advised that this conference is being recorded. I would now like to hand the conference over to your speaker today, Mike Cavanaugh, Investor Relations. Please go ahead. Mike Cavanaugh: Good morning and welcome to Nanox Imaging's Q2 2026 Earnings Call. Earlier today, Nanox Imaging Limited released financial results for the quarter ending June 30, 2026. The release is currently available on the investor section of the company's website. With me today are Erez Meltzer, Chief Executive Officer and Acting Chairman, and Guy Nathanzon, 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 research and development, manufacturing, commercialization activities, regulatory process, and clinical activities, and other matters. These statements are subject to risks, uncertainties, and assumptions that are based on management's current expectations as of today and may not be updated in the future. Therefore, these statements should not be relied upon as representing the company's views as of any subsequent date. Factors that may cause such a difference include, but are not limited to, those described in the company's filings with the Securities and Exchange Commission. We will also refer to certain non-GAAP financial measures to provide additional information to investors. The reconciliation of the non-GAAP to GAAP measures is provided with our press release, which reconciles the following non-GAAP measures to the closest equivalent figures under GAAP: non-GAAP gross margin, non-GAAP research and development expenses, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, non-GAAP net loss, and adjusted EBITDA loss. With that, I'd now like to turn the call over to Erez Meltzer. Erez Meltzer: Thank you all for joining us today. In the 2 months since our last call, we have advanced commercialization across several areas of the business. Our management team has completed a thorough review of the business and started implementing lessons learned with progress reflected across our commercial, operational, and strategic priorities. Today, I will focus on the steps we are taking to improve execution, extend commercialization, and support the long-term value of the Nanox platform. While our business is trending in the right direction, as we discussed last quarter, our commercialization has taken longer than we expected. When we initiated the commercial phase, we had already provided preliminary financial results last month, and our results are substantially consistent with those previously disclosed figures. The main friction points have been, as mentioned, operational. Commercialization required close side-by-side coordination with small and medium-sized imaging centers, particularly around permitting, shielding, construction timelines, and integration. These are practical deployment requirements, but they have been important lessons as we refine how we move systems from commercial agreement to active utilization. By identifying where the friction has occurred, we have been able to shape the changes we are now implementing. Most importantly, we are increasingly leveraging commercial partners with established relationships and workflow in the imaging space to meaningfully enhance our presence in the U.S. At the same time, our direct sales effort continued to support additional Nanox.ARC CapEx agreements and deployment activity, including the first Nanox Imaging Network installation in Philadelphia, which has already scanned its first patients. Beyond the U.S., we continue Nanox.ARC deployment activity across Europe and Latin America, advanced new Nanox.AI commercial and pilot programs in India and the U.S., and move forward with the restructuring of our South Korea operations to better align resources with our core technologies and commercialization priorities. We continue to broaden our U.S. footprint through strategic collaborations, customer evaluations, and deployment activities, including our recently announced collaboration with RadNet and ongoing work with leading clinical institutions with the goal of expanding our engagement with healthcare chains and increasing activity within those chains. As we disclosed in our last call, the Nanox system has been operational for several months at RadNet sites. RadNet is the largest outpatient imaging center operator in the United States and has deployed a Nanox.ARC system at one of its facilities where it is now in commercial use and integrated into routine clinical workflow. We continue to explore opportunities for clinical research, including early lung nodule detection. We believe this represents an important step in demonstrating Nanox.ARC's clinical value in a major outpatient imaging setting, and we are excited to continue this collaboration. We recently deployed a Nanox.ARC system through a capital equipment sale to an internationally recognized orthopedic center in Florida, which is part of an IDN, Integrated Delivery Network. As this organization integrates the system into its orthopedic imaging workflow, we are launching a strategic collaboration aimed at broadening the clinical use of Nanox.ARC in orthopedics and generating clinical experience in a high-volume specialty care environment. We believe the true measure of innovation in medical imaging lies in clinical relevance and potential to improve patient care. Our continuing engagement with leading healthcare organizations reflects our commitment to generating more real-world evidence and evaluating a growing number of clinical applications for our technology. For example, we recently installed an Arc system in an urgent care unit located in New York. Turning to our commercial distribution partnership, we are seeing channel partners build pipeline activity that supports future CapEx sales. In addition, our U.S.-based subsidiary, Nanox Impact Inc., has entered into a distribution agreement with Associated X-Ray Imaging Corp., a New England-based provider of medical imaging equipment and services specializing in X-ray, MRI, and CT systems to support deployment of the Nanox.ARC across the region. We now have 10 signed commercial distribution partnerships in the United States. Associated has already supported the customer installation of the Nanox.ARC that is installed and operational, further demonstrating its ability to support deployment and service in the region. The agreement follows other recent engagements, including Digital X-Ray Imaging, Integrity Medical Service, and Elite Surgical Technologies. The goal is to supplement our direct sales force and increase our presence economically as we pursue broader coverage of major U.S. markets. We are also expanding joint commercialization activity with our partners, including participation in Howard's annual sales summit, our webinar partnership with RadNet, and ongoing sales and marketing initiatives. As more customers, channel partners, and physicians gain firsthand experience with Nanox.ARC, we are seeing encouraging utilization, including sites performing hundreds of scans per month, and one customer transitions from MSaaS to CapEx purchase. The Nanox Imaging Network proof of concept is beginning to contribute to our commercialization strategy by targeting segments that may offer potentially higher reimbursement rates, such as worker compensation groups and concierge medical providers. Through this initiative, Nanox completed the first Nanox Imaging Network installation in Philadelphia, and the site has begun scanning its first patients. It is encouraging that we are already seeing reimbursement from insurers and payers with paid claims in the range of $200 to $700 per claim. This provides early validation of the commercial opportunity for the Nanox Imaging Network and supports our focus on targeted care segments where reimbursement dynamics can be favorable. Based on the preliminary business model, we believe each site may have the potential to generate annual revenue in the range of $0.5 million to $1 million, depending on utilization, reimbursement, payer mix, and site-level execution. In our rest of the world markets, we advance commercialization activities across Europe and Latin America. During the quarter, we completed an end-user deployment in the Czech Republic and advanced system deliveries in Romania and Greece were local distribution partners, which we have discussed on previous calls. We also appointed Solme RC SA as our new distribution partner in Costa Rica, further expanding our presence in Latin America. We also continue to develop commercial opportunities with distributors in Slovenia and Ecuador, and are preparing to ship the system to Argentina. Since the acquisition, our Teleradiology Services Division, USARAD, continued to deliver strong and consistent revenues during the first half of 2026, which grew on a year-over-year basis, averaging 14% growth driven by continued expansion of our teleradiology client base USARAD Holdings Inc. has once again earned the Joint Commission's Gold Seal of Approval for ambulatory healthcare accreditation by demonstrating continuous compliance with its performance standards. The gold seal is a symbol of quality that reflects a healthcare organization's commitment to providing safe and quality patient care. We also extended USARAD engagement with a leading multinational aerospace organization. This renewal reflects the value of USARAD services offering in our ability to support large organizations with reliable, high-quality teleradiology services. We continue to view the radiology business as both a source of recurring revenues and an important channel for advancing the commercialization of our broader imaging and AI solutions. Nanox.AI advanced on both the commercial and the clinical fronts during the quarter. We recently announced that Nanox entered into an exclusive sales reseller agreement with Vertec Scientific Limited for the Nanox.AI bone solution in the United Kingdom. Vertec is also the exclusive supplier of Hologic DXA scanners in the U.K., and has an extensive network of key opinion leaders, clinics, and hospitals. Moreover, we launched 5 new AI installations, pilots, across the United States and India. These engagements expand our clinical and commercial footprint and provide opportunities to demonstrate the value of our AI solution in real-world healthcare settings. We are actively supporting these organizations through the evaluation process and look forward to advancing discussions around broader deployments. We also completed a pilot study with Cedars-Sinai comparing Nanox.AI Health AVC with standard of care tools for assessing aortic valve calcification. The study demonstrated greater than 92% agreement between the two approaches, reinforcing the accuracy of our technology and supporting its potential integration into existing imaging workflows. In addition, IRB approval has been received from a leading university-affiliated medical center for an upcoming clinical study and we are now moving forward with data collection. To end my update on the AI business, I would like to share some reimbursement news. In the U.S., the Centers for Medicare and Medicaid Services established a new Healthcare Common Procedure Coding System, coding code G0680, effective April 1, 2026, for algorithmic analysis of coronary artery calcium and aortic valve calcification from chest CT scans. This creates a potential reimbursement pathway for the Nanox.AI cardiac solution when used with eligible chest CT exams and when applicable payer, documentation, and medical necessity requirements are met. We view this as a positive development that may help support commercial adoption of Nanox.AI by enabling providers to incorporate AI-driven analysis into existing imaging workflow. The new reimbursement code may expand the addressable market for the Nanox.AI cardiac solution by creating a direct reimbursement pathway for outpatient imaging centers and clinics performing eligible chest CT examinations. This pathway may enable qualifying providers to incorporate our cardio solution into existing CT workflows and receive reimbursement without requiring an additional imaging procedure. We are exploring further our engagement with two of our leading research sites, Meir Medical Center and Rabin Medical Center, by expanding our ongoing clinical work into rheumatology, an area we believe may represent a meaningful extension of the Nanox.ARC value proposition. Together with these centers, we are evaluating the potential role of the Arc in the assessment and long-term management of chronic rheumatology conditions. While still in the research stage, we believe this work may help broaden our understanding of additional clinical applications for the ARC and inform future opportunities in rheumatology. I'd like to share a few additional updates on our OEM relationship and pursuits. Varex tubes are undergoing the final integration process to become a main X-ray tube source for the Nanox.ARC X-system. We've additionally taken receipt of a Varex multi-beam X-ray vessel utilizing multiple Nanox emitters and have begun our initial testing. We are excited to measure our emitters' capabilities in this configuration and have potential partner interest in the areas of security, food inspection, and of course medical. Regarding Oak Ridge National Laboratory prototypes, we have completed and delivered prototypes of the latest design iteration to Oak Ridge for their assessment and integration with their intended application in security use cases. We are also pursuing discussions with other entities for this purpose. Overall, interest in the Nanox breakthrough source technology remains very strong. The Nanox Health IT that we acquired at the end of 2025 has proven to be a valuable addition to Nanox and continue to contribute meaningful revenue in the first half of the year, supported by an expanding customer base and more than 20 new projects going live. As we complete our integration to make the business more scalable and begin to more fully leverage its synergies with Nanox.AI, Nanox.ARC, and USARAD business segments, we are very excited about the growth potential of this business. Turning to our South Korea operations, as we previously disclosed, we have been evaluating a range of strategic alternatives aimed at optimizing our cost structure and maximizing the value of our asset in Korea. Following this review, we have decided to move forward with a broader structural transformation of our South Korea operation. As part of this process, we've idled our chip production line and reduced our workforce in Korea by two-thirds. We are transitioning volume production activities to qualified third-party manufacturing partners. In parallel, we have initiated the necessary processes with the relevant authorities and other stakeholders in preparation for the sale of the manufacturing facility. We believe these actions will further streamline our operating model, reduce our fixed cost base and burn rate, and allow us to focus our resources on our core technologies and commercialization priorities. Guy will work through the specifics of the restructuring in his financial overview. We are also preparing for RSNA 2026, where we plan to engage with customers, partners, and key opinion leaders across the radiology community. RSNA provides an important platform to present our end-to-end imaging solution across Nanox.ARC, Nanox.AI, and our broader imaging ecosystem, while supporting business development, customer engagement, and awareness of our recent commercial and clinical activity. We are preparing for RSNA 2026 with the goal of building on last year's success and using the event as a strong commercial kickoff for 2027. I will now turn the call over to Guy, whom we are very pleased to officially welcome to the team. Guy Nathanzon: Thank you, Erez. Before I begin, I would like to say that I'm very excited to be at Nanox, and I look forward to helping drive our future success as we seek to change medical imaging. Thank you. As we implement the lessons we have learned and drive commercial growth, we've also sought various ways to extend our cash runway to the point where we are at a sustainable run rate. During the quarter and subsequently, we have taken deliberate steps to implement effective measures, including reduction to our cash expenditures and cash burn. Among those steps have been a 15% headcount reduction of our Israeli-based employees, and as previously noted, a reduction in our activities at our Korean location, mainly in the chip fabrication facility, as well as an approximately 67% in our headcount in Korea. We will instead rely on our OEM partners to supply the chips we need for future demand. The estimated annualized cost savings from these steps are expected to be approximately $2 million beginning in 2027. Along with cost reductions, we also recognize the need for additional capital and have recently raised fresh capital via an existing ATM program and a registered direct offering in August that raised together a total of $8.5 million of gross proceeds. All figures that I'm reviewing now relate to the second quarter ending June 30, 2026. And all comparable figures relate to the comparable quarter of 2025, unless otherwise noted. Q2 2026 revenue was $4.2 million, compared to $3 million in Q2 2025, representing a year-over-year increase of 37%. The increase was driven mainly by the consolidation of the Nanox Health IT, formerly known as Vaso Healthcare IT business, which was consolidated as of November 19, 2025, and accounted for $0.9 million of revenue in Q2 2026. The company generated revenue of $3 million from our teleradiology services, $1 million from our AI and software solutions, and $0.2 million from the sale of imaging systems and OEM services. Q2 2026 adjusted EBITDA loss, a financial measure that is derived as described below under non-GAAP financial measures, was $11.3 million, compared with adjusted EBITDA loss of $10.4 million in Q2 2025. Q2 2026 GAAP gross loss margin was minus 1,051% compared to a GAAP gross loss margin of minus 107% for Q2 2025. Non-GAAP gross loss margin was -13% compared to a non-GAAP gross loss margin of minus 21% in Q2 2025. In accordance with applicable accounting standards, as of June 30, 2026, the company performed an impairment assessment of its asset groups. The impairment assessment was triggered by significant decline in the company's share price and reduced forecasted revenue and operating results. The company recorded a charge of $40.7 million, which was recorded to cost of revenue, impairment of intangible assets, reducing the fair value of the intangible assets related to its AI solutions business unit, excluding Nanox Health IT, to $1.9 million. The company also re-evaluated the remaining useful life of the intangible assets and concluded that no changes were necessary. The impairment charge did not result in any cash outflow or impact the company's liquidity and was excluded from the calculation of the adjusted EBITDA for the period. Q2 2026 GAAP operating expense was $11.8 million compared to GAAP operating expense of $11.3 million in Q2 2025. Q2 2026 non-GAAP operating expense was $11.1 million compared to a non-GAAP operating expense of $10.0 million in Q2 2025. The increase was mainly driven by the consolidation of Nanox Health IT business and an increase in the legal expense. Q2 2026 GAAP net loss was $55.5 million compared to a GAAP net loss of $14.7 million in Q2 2025. Q2 2026 non-GAAP net loss was $11.6 million compared to a non-GAAP net loss of $10.9 million in Q2 2025. The increase in net loss was mainly related to the impairment of certain intangible assets as described above. Cash and cash equivalents and restricted deposits as of June 30, 2026 were at $31.4 million. This compares to a cash and cash equivalents, short-term deposits, and restricted deposits balance of $60 million as of December 31, 2025. Post-quarter end, the company raised aggregate gross proceeds of $8.5 million from its ATM program and a registered direct offering. The company intends to continue raising funds from various sources to improve its cash balance and support its activities. I'll now turn the call over to Erez for final comments and the questions and answer session. Erez Meltzer: Before we open the call for questions, I want to close by reflecting on the priorities I outlined today and the progress they have produced so far. We are focused on moving Nanox.ARC systems into active use, extending our commercial footprint through new partnerships, advancing the Nanox Imaging Network, and adding new Nanox.AI customers, all while managing our resources decisively and responsibly. We made real progress across these areas. We are also taking the necessary steps to improve our operating structure and extend our runway. There is still plenty of work ahead, but we believe we are taking the right actions to support Nanox's long-term opportunity in medical imaging. I want to thank our employees, partners, customers, and shareholders for your continued support. Operator, you may now open the call for Q&A. Operator: [Operator Instructions] And our first question will be coming from the line of Jeffrey Cohen of Ladenburg Thalmann & Co. Inc. Jeffrey Cohen: Just a few questions from Aaron. And I guess firstly for Guy, what's expected on the impairment for the balance of 2026? I know you're at 40.69 currently. Guy Nathanzon: Currently we already completed the process as of today. And if required, according to the accounting rules, we will continue in the future. Currently we have no visibility for any other elements around the impairment. But we do the assessment according to the accounting rules every period, and we'll do what we need to do. Jeffrey Cohen: Okay. Got it. What's the latest pro forma share count? Guy Nathanzon: Sorry, could you repeat the question? Jeffrey Cohen: The latest pro forma outstanding share count. Guy Nathanzon: I believe it is 70.6 (sic) [ 70.06 ], if I remember correctly. Million. Jeffrey Cohen: Got it. And then could you talk about the placements out there? I'm curious about the evaluations and our placements. Could you give us a sense of how many were placed during the last quarter and maybe give us a sense of the pipeline that you expect throughout the balance of the year as far as evaluations. Guy Nathanzon: I believe, Erez, would you like to take this answer? Erez, would you like to answer this question? Jeffrey Cohen: No, I was just wondering about placements for the balance of the year. Erez Meltzer: Can you hear me? Can you hear me? Guy Nathanzon: Okay. Now we can swap, no we can't do that. for the balance of the year. Jeff, can you hear me? Jeffrey Cohen: Yes. I can. Erez Meltzer: Okay. So since the latest update, we have placed systems in Greece, in Romania, in Czech Republic. The systems for Peru are waiting for import license. Same goes with Argentina. In the U.S. we have one system which is converted from MSUs to CapEx. We've installed another one in an IDN. Another system for the first system in urgent care units in the U.S. We have 3 systems that are currently in the Nanox Imaging Network that we were talking about. One of them's already started. So, yeah, another one in the orthopedic clinic. In a nutshell, that's where we are. So, quite nice progress in the last quarter. Operator: And our next question will be coming from the line of Scott Henry of AGP. Scott Henry: It sounds like there's a lot of progress going on behind the scenes as far as building momentum for future sales. Could you give us a sense of how we should think about the timing of when that traction should start? How should we think about Q3 relative to Q2 in terms of revenues? And if we're not going to see much there, when should we start to see that traction result in revenues? Erez Meltzer: I think that we have addressed this question during the last call, that we saw the middle of the year as a sort of reflection point. First of all, what you can see is the progress that you actually were talking about. And second, we will start to see the impact of this progress in the next few months, as previously indicated already. We view the Nanox Imaging Network as part of the scale which is moving forward. The business partners are in terms of the pipeline which is being converted right now to installations or to sales. And from our point of view, the direct sales is also showing the progress. So I think that the reflection of these efforts and this momentum, we will see, as we said, in the next few months. Scott Henry: Okay, great. So it is on track with prior expectations. Thank you. And then the $2 million in cost savings for 2027, should we expect that to show up in kind of the gross margin line or more in the G&A line? Erez Meltzer: Which one? The one you're referring to? Scott Henry: The $2 million in cost savings on target for 2027. I just wanted to get a sense where in the model of those cost savings should be located because it is a manufacturing plant. Guy Nathanzon: Yes, so the simple answer is that probably most of the expenses would be reflected in the operating expenses. Some of them in the COGS, but most of them in the OpEx. Scott Henry: Okay, great. And when we think about, I mean, it sounds like there are a lot of kind of cost rationalizations, getting costs out of the system, whether through contracting or what other reasons necessary. Where do you think you could get that operating expense? And that's on a GAAP basis. If it's been around $11 million, maybe a quarter of a million, maybe $11 million to $12 million per quarter on a GAAP basis, how much could you pull out of that as costs are shifted outside the system? Guy Nathanzon: I'll try to be very cautious at this point, and if it's okay for you, I prefer not to answer this question directly. Once we have something to announce, we'll probably announce. At this point, in high level, I would say we are always doing ongoing research, examination, and evaluation of our expenses. There is no number that I can specifically announce right now. And once there would be a number, we'll definitely announce it like we just did on the Korean side. Scott Henry: Okay, then I'll look forward to that. Also, in the press release, there was mention of a CMS reimbursement pathway. What would be the timing of developments on that front? Erez Meltzer: The reimbursement of the Nanox Imaging Network? Scott Henry: As far as through CMS. Erez Meltzer: The AI or the Nanox Imaging Network? Scott Henry: Both, just the timing on either. How would we think about that? Erez Meltzer: So, the Nanox.AI, the G0680 is already right now. And we'll probably see the impact of it. Right now we expect that it will be affected in the very near future and we are going to address this segment of the market in order to benefit from this effort. In terms of the reimbursement, first of all, it's already done, so we have already revenue which is generated from this reimbursement. And the more systems and sites we add to the Nanox Imaging Network, which actually we've already previously indicated what's the pipeline on this, the more we'll see the revenues growing up. I think that based on the model that we currently have. And right now we are in the first proof of concept for this, but based on the model right now and the indications that we have from current scans that are being done on this segment of the market, we expect these numbers to be in the hundreds of millions of dollars, or can go up to even more than that, close to $1 million, if the system is operating on a very wide scale, and this will generate for each one of the systems as was recorded in the press release. Thank you so much. Operator: And I'm showing no further questions. This concludes today's conference call. Thank you for participating. You may now disconnect. Erez Meltzer: Thank you. Before you buy stock in Nano-X Imaging, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nano-X Imaging wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Nano-X Imaging (NNOX) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Revenue: $4.2 million in Q2 2026, a 37% increase year-over-year from $3 million in Q2 2025. Revenue Breakdown: $3 million from teleradiology services, $1 million from AI and software solutions, and $0.2 million from imaging systems and OEM services. Adjusted EBITDA Loss: $11.3 million in Q2 2026, compared to a $10.4 million loss in Q2 2025. GAAP Gross Loss Margin: Minus 1,051% in Q2 2026, compared to minus 107% in Q2 2025. Non-GAAP Gross Loss Margin: Minus 13% in Q2 2026, compared to minus 21% in Q2 2025. GAAP Operating Expense: $11.8 million in Q2 2026, compared to $11.3 million in Q2 2025. Non-GAAP Operating Expense: $11.1 million in Q2 2026, compared to $10.0 million in Q2 2025. GAAP Net Loss: $55.5 million in Q2 2026, compared to a $14.7 million loss in Q2 2025, driven mainly by a $40.7 million impairment charge on intangible assets. Non-GAAP Net Loss: $11.6 million in Q2 2026, compared to a $10.9 million loss in Q2 2025. Cash Position: $31.4 million in cash, cash equivalents, and restricted deposits as of June 30, 2026, down from $60 million as of December 31, 2025. Capital Raised: $8.5 million in gross proceeds post-quarter end from an ATM program and a registered direct offering. Cost Savings: Estimated annualized savings of approximately $2 million beginning in 2027 from headcount reductions and restructuring. Warning! GuruFocus has detected 4 Warning Signs with NNOX. Is NNOX fairly valued? Test your thesis with our free DCF calculator. Release Date: September 09, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nano X Imaging Ltd (NASDAQ:NNOX) reported a 37% year-over-year increase in Q2 2026 revenue, driven by the consolidation of Nanox Health IT and growth in its teleradiology services. The company is expanding its US commercial footprint through 10 signed distribution partnerships, including a new agreement with Associated X-Ray Imaging Corp., and a strategic collaboration with RadNet, the largest US outpatient imaging operator. Early validation of the Nanox Imaging Network business model is evident, with the first Philadelphia site operational and receiving insurance reimbursements ranging from $200 to $700 per claim. A new CMS reimbursement code (G0680) for AI-driven cardiac analysis from chest CT scans creates a potential direct reimbursement pathway for the Nanox.AI cardiac solution, potentially expanding its addressable market. Management is taking decisive steps to streamline operations and reduce costs, including restructuring South Korea operations, idling the chip production line, and reducing headcount, with estimated annualized savings of approximately $2 million beginning in 2027. The company is advancing its OEM relationships, with Varex tubes undergoing final integration and a multi-beam X-ray vessel received for testing, indicating strong interest in its core source technology for various applications. Nano X Imaging Ltd (NASDAQ:NNOX) recorded a significant non-cash impairment charge of $40.7 million in Q2 2026, related to its AI solutions business unit, triggered by a decline in share price and reduced forecasts. The company's cash position has decreased substantially, from $60 million at the end of 2025 to $31.4 million as of June 30, 2026, necessitating further capital raises. Commercialization of the Nanox.ARC system continues to take longer than expected, with operational friction points related to permitting, shielding, and construction timelines at customer sites. The company's GAAP gross loss margin worsened dramatically to -1,051% in Q2 2026, compared to -107% in the prior year quarter, reflecting significant cost of revenue issues. Nano X Imaging Ltd (NASDAQ:NNOX) had to raise an additional $8.5 million in gross proceeds through an ATM program and a registered direct offering post-quarter-end to support its activities, indicating ongoing financial strain. The company's net loss widened significantly to $55.5 million in Q2 2026 from $14.7 million in the same period last year, primarily due to the impairment charge. Q: Could you give us a sense of how we should think about the timing of when that traction should start? How should we think about Q3 relative to Q2 in terms of revenues? And if we're not going to see much there, when should we start to see that traction result in revenues?A: Erez Meltzer, CEO: We addressed this question during the last call, noting that we saw the middle of the year as a sort of reflection point. The progress we are making now will start to show its impact in the next few months, as previously indicated. We view the Nanox Imaging Network as part of the scale moving forward, and the business partners' pipeline is being converted to installations or sales. We expect to see the reflection of this momentum in the next few months. Q: What's expected on the impairment for the balance of 2026? I know you're at 40.69 currently.A: Guy Nathanzon, CFO: Currently, we have already completed the process as of today. If required, according to the accounting rules, we will continue in the future. Currently, we have no visibility for any other elements around the impairment, but we do the assessment according to the accounting rules every period and will do what we need to do. Q: The $2 million in cost savings on target for 2027. I just wanted to get a sense where in the model those cost savings should be located because it is a manufacturing plant.A: Guy Nathanzon, CFO: The simple answer is that probably most of the expenses would be reflected in the operating expenses. Some of them in the COGS, but most of them in the OpEx. Q: It sounds like there are a lot of cost rationalizations, getting costs out of the system. Where do you think you could get that operating expense? If it's been around $11 million to $12 million per quarter on a GAAP basis, how much could you pull out of that as costs are shifted outside the system?A: Guy Nathanzon, CFO: I'll try to be very cautious at this point, and if it's okay for you, I prefer not to answer this question directly. Once we have something to announce, we'll probably announce. At this point, in high level, we are always doing ongoing research, examination, and evaluation of our expenses. There is no number that I can specifically announce right now. Once there would be a number, we'll definitely announce it like we just did on the Korean side. Q: In the press release, there was mention of a CMS reimbursement pathway. What would be the timing of developments on that front?A: Erez Meltzer, CEO: The Nanox.AI G0680 code is already in effect right now, and we expect it will impact the market in the very near future. We are going to address this segment of the market to benefit from this effort. In terms of the Nanox Imaging Network reimbursement, it's already done, and we have already generated revenue from this reimbursement. The more systems and sites we add to the network, the more revenues will grow. Based on the current model and indications from current scans, we expect each site to generate annual revenue in the range of $0.5 million to $1 million, potentially even more if the system operates on a very wide scale. Q: What is the latest pro forma outstanding share count?A: Erez Meltzer, CEO: Since the latest update, we have placed systems in Greece, Romania, and the Czech Republic. The systems for Peru are waiting for import licenses, as are those for Argentina. In the US, we have one system which was converted from MSaaS to CapEx, installed another one in an IDN, and installed the first system in urgent care units. We have three systems currently in the Nanox Imaging Network, one of which has already started operations, and another in an orthopedic clinic. That's where we are, with quite nice progress in the last quarter. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Management to host conference call and webcast on Wednesday, September 9, 2026 at 8:30 AM ET PETACH TIKVA, Israel, Sept. 09, 2026 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD (NASDAQ: NNOX) (“Nanox” or the “Company”), an innovative medical imaging technology company, today announced results for the second quarter ended June 30, 2026, and provided a business update. Recent Business Highlights: Expanded Nanox’s presence in the U.S. through additional distribution partner agreement. Advanced capital equipment sales through additional Nanox.ARC capex agreements, adding a deployed Nanox.ARC system to an internationally recognized orthopedic center in Florida, part of an integrated delivery network (IDN). Launched the first Nanox Imaging Network (NIN) site, with first patient scans. Signed a distribution agreement in Costa Rica, supporting the Company’s continued expansion across Latin America. Continued Nanox.AI commercial and clinical momentum, adding an exclusive reseller agreement with Vertec Scientific and launching five new pilot programs. Furthered the broad restructuring of Korea operations, including transitioning substantially all chip manufacturing activities to qualified third-party manufacturing partners and undertaking other efficiency initiatives, including a 67% reduction in workforce. The restructuring is expected to result in approximately $0.9 million of restructuring-related expenses and is expected to generate annual cost savings of approximately $2 million starting in 2027. Expanded Nanox Health IT’s commercial activity following its acquisition at the end of 2025, with a growing customer base and more than 20 new projects going live during the first half of 2026, while making a meaningful contribution to Nanox’s revenue. There has been no material change in the number of Nanox.ARC systems in various stages of deployment from the levels previously reported by the Company. “To date there has been tangible progress in our commercialization strategy. We have expanded our U.S. distribution footprint to ten partners and begun patient scanning at our first Nanox Imaging Network site in Philadelphia. We have begun receiving reimbursement for scans from insurers for our NIN business. At the same time, Nanox.AI is gaining commercial traction from our new agreement with Vertec Scientific in the UK. In addition, we are advancing our efforts to pursue a potential new CMS reimbursement pathway that could support broader adoption,” said Erez Meltzer, Acting Chairman and Chief Executive Officer. “We have also implemented a multi-pronged cost reduction initiative that includes the restructuring of our South Korea operations, and have raised additional capital to support our operations. We remain focused on disciplined execution as we move systems from our sales pipeline into active clinical use.” Q2 2026 Financial Highlights: Q2 2026 revenues were $4.2 million, compared to $3.0 million in Q2 2025, representing a year-over-year increase of 37%. The increase was driven primarily by the consolidation of the Nanox Health IT (formerly known as Vaso Healthcare IT) business, which was consolidated as of November 19, 2025 and accounted for $0.9 million in Q2 2026. The Company generated revenues of $3.0 million from our teleradiology services, $1.0 million from our AI and Software Solutions, and $0.2 million from the sale of imaging systems and OEM services. Q2 2026 adjusted EBITDA loss (a financial measure that is derived as described below under “Non-GAAP Financial Measures”) was $11.3 million, compared with adjusted EBITDA loss of $10.4 million in Q2 2025. Q2 2026 GAAP gross loss margin was (1,051%), compared to a GAAP gross loss margin of (107%) for Q2 2025. Non-GAAP gross loss margin was (13%), compared to non-GAAP gross loss margin of (21%) in Q2 2025. In accordance with applicable accounting standards, as of June 30, 2026, the Company performed an impairment assessment of its asset groups. The impairment assessment was triggered by a significant decline in the Company’s share price and reduced forecasted revenues and operating results. The Company recorded an impairment charge of $40.7 million, which was recorded to cost of revenues - impairment of intangible assets, reducing the fair value of the intangible assets related to its AI solutions business unit (excluding Nanox Health IT) to $1.9 million.The Company also re-evaluated the remaining useful lives of its intangible assets and concluded that no changes were necessary. The impairment charge did not result in any cash outflow or impact the Company’s liquidity and was excluded from the calculation of adjusted EBITDA loss for the period. Q2 2026 GAAP operating expenses were $11.8 million, compared to GAAP operating expenses of $11.3 million in Q2 2025. Q2 2026 non-GAAP operating expenses were $11.1 million, compared to non-GAAP operating expenses of $10.0 million in Q2 2025. The increase was primarily driven by the consolidation of the Nanox Health IT business and an increase in legal expenses. Q2 2026 GAAP net loss was $55.5 million, compared to a GAAP net loss of $14.7 million in Q2 2025. Q2 2026 non-GAAP net loss was $11.6 million, compared to a non-GAAP net loss of $10.9 million in Q2 2025. The increase in net loss was mainly attributable to the impairment charge related to certain intangible assets, as described above. Cash and cash equivalents as of June 30, 2026, were $31.4 million. This compares to a cash and cash equivalents balance of $60.0 million as of December 31, 2025. Post-quarter-end, the Company raised aggregate gross proceeds of $8.5 million from a registered-direct offering and the Company’s at-the-market program. The Company intends to continue raising funds from various sources to strengthen its balance sheet and support its activities. Additional information regarding the Company’s financial results and financial condition, including additional information regarding the impairment assessment described above, is included in the Company’s unaudited condensed consolidated financial statements as of, and for the three-month and six-month periods ended on, June 30, 2026, and the related Operating and Financial Review and Prospects for the six months ended June 30, 2026, attached as exhibits to the Company’s Report of Foreign Private Issuer on Form 6-K furnished to the SEC today. Legal Proceedings On June 12, 2026, a class action complaint was filed in the United States District Court of New Jersey against the Company and certain of its officers, captioned Steele v. Nano-X Imaging Ltd. et al, Case No. 1:26-cv-07062. The complaint alleges violations of federal securities laws on behalf of all persons and entities that purchased or otherwise acquired the Company’s publicly traded securities between March 31, 2025 and April 17, 2026 in connection with certain disclosures concerning the Company’s business, operations, and prospects, including with respect to the Company’s manufacturing facility in Korea. The plaintiff is seeking money damages. On August 11, 2026, three shareholders filed motions for appointment as lead plaintiff, which remain outstanding. Due to the early stage of the case, it is not possible to assess the probability of a loss or reasonably estimate the ultimate costs and damages. Consequently, no accrual has been made in the financial statements regarding this matter. Non-GAAP Financial Measures Nanox presents in this press release and in its quarterly conference call being held today certain financial measures that are not prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), including non-GAAP gross loss margin, non-GAAP operating expenses, non-GAAP net loss, and adjusted EBITDA loss. These non-GAAP measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. The Company’s definition of non-GAAP net loss adjusts GAAP net loss to exclude impairment of intangible assets, share-based compensation expenses, amortization of intangible assets, income related to settlement with a shareholder, and changes in earnout liability. The Company’s definition of adjusted EBITDA loss reflects the adjustments described in the preceding sentence to the Company’s GAAP net loss, as further adjusted to exclude depreciation, financial expenses and tax expenses. The Company’s management and board of directors utilize these non-GAAP financial measures to evaluate the Company’s performance. The Company provides these non-GAAP measures of the Company’s performance to investors because management believes that these non-GAAP financial measures, when viewed with the Company’s results under GAAP and the accompanying reconciliations, are useful in identifying underlying trends in ongoing operations. However, these non-GAAP measures are not measures of financial performance under GAAP and, accordingly, should not be considered as alternatives to GAAP measures as indicators of operating performance. Further, these non-GAAP measures should not be considered measures of the Company’s liquidity. A reconciliation of certain GAAP to non-GAAP financial measures has been provided in the tables included in this press release. Conference Call and Webcast Details Wednesday, September 9, 2026 @ 8:30am ET Individuals interested in listening to the Company’s second quarter results conference call may do so by joining the live webcast at the “Investors” section of the Nanox website under “Events & Presentations”. Alternatively, individuals can register online to receive a dial-in number and personalized PIN to participate in the conference call, via a link under “Events and Presentations”. An archived webcast of the event will be available for replay following the event. About Nanox Nanox (NASDAQ: NNOX) is focused on driving the world’s transition to preventive health care by delivering an integrated, end-to-end medical imaging and healthcare services platform. Nanox combines affordable imaging hardware, advanced AI-based solutions, cloud-based software, access to remote radiology, health IT solutions, and a marketplace to enable earlier detection, improved clinical efficiency, and broader access to care. Nanox’s vision is to expand the reach of medical imaging both within and beyond traditional hospital settings by providing a seamless solution from scan to interpretation and beyond. By leveraging proprietary digital X-ray technology, AI-driven analytics, and a clinically driven approach, Nanox aims to enhance the efficiency of routine imaging workflows, support early detection of disease, and improve patient outcomes. The Nanox ecosystem includes Nanox.ARC, a cost-effective, 3D multi-source digital tomosynthesis imaging system designed for ease of use and scalability; Nanox.AI, a suite of AI-based algorithms that augment the interpretation of routine CT imaging to identify early signs often associated with chronic disease; Nanox.CLOUD, a cloud-based platform for secure data management, storage, and advanced imaging analytics; Nanox.MARKETPLACE and USARAD Holdings, which provides access to remote radiology and cardiology experts and comprehensive teleradiology services; and Nanox Health IT combines deep healthcare IT expertise with leading technology partners to deliver RIS, PACS, AI, dictation, and secure infrastructure solutions that streamline workflows and support safer, more efficient care delivery. By integrating imaging technology, AI, cloud infrastructure, clinical expertise, a marketplace, and health information technology, Nanox seeks to lower barriers to adoption, improve utilization, and advance preventive care worldwide. For more information, please visit https://www.nanox.vision. Forward-Looking Statements This press release contains forward-looking statements that are subject to risks and uncertainties. All statements that are not historical facts contained in this press release are forward-looking statements. Such statements include, but are not limited to, statements regarding: the Company’s expected commercialization efforts, business strategy and long-term growth opportunities; the expected timing, pace, extent and success of deployments, installations, activations and utilization of Nanox.ARC systems, including under the Nanox Imaging Network; the anticipated benefits, timing and extent of activity under existing and new commercial, distribution and strategic agreements, including contemplated deployments of systems over the coming years; the anticipated cost savings relating to the restructuring of the Company’s South Korea operations; and the initiation, timing, progress and results of the Company’s research and development, manufacturing, and commercialization activities with respect to its X-ray source technology and the Nanox.ARC. In some cases, you can identify forward-looking statements by terminology such as “can,” “might,” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “should,” “could,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on information the Company has when those statements are made or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause actual results to differ materially from those currently anticipated include: risks related to (i) Nanox’s ability to complete development of the Nanox System; (ii) Nanox’s ability to successfully demonstrate the feasibility of its technology for commercial applications; (iii) Nanox’s history of recurring losses and negative cash flows from operating activities, significant future commitments and the uncertainty regarding the adequacy of Nanox’s liquidity to pursue its complete business objectives, and substantial doubt regarding its ability to continue as a going concern; (iv) Nanox’s expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its technology, the Nanox.ARC and Nanox.CLOUD from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; (v) Nanox’s ability to realize the anticipated benefits of recent acquisitions, which may be affected by, among other things, competition, brand recognition, the ability of the acquired companies to grow and manage growth profitably and retain their key employees; (vi) Nanox’s ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.ARC; (vii) the market acceptance of the Nanox System and the proposed pay-per-scan business model; (viii) Nanox’s expectations regarding collaborations with third-parties and their potential benefits; (ix) Nanox’s ability to conduct business globally; (x) changes in global, political, economic, business, competitive, market and regulatory forces; (xi) risks related to the recent wars between Israel and the United States, on the one hand, and Iran and its proxies, on the other hand, and any worsening of the situation in Israel; and (xii) risks related to litigation, including the class action complaint filed against the Company, which may result in significant liability and damage to the Company’s reputation. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Nanox’s actual results to differ from those contained in the Forward-Looking Statements, see “Item 3.D Risk Factors” in Nanox’s Annual Report on Form 20-F for the year ended December 31, 2025, and subsequent documents or reports of Nanox filed with, or furnished to, the U.S. Securities and Exchange Commission. The reader should not place undue reliance on any forward-looking statements included in this press release. Except as required by law, Nanox undertakes no obligation to update publicly any forward-looking statements after the date of this press release to conform these statements to actual results or to changes in the Company’s expectations. * Less than $1. * Less than $1. For more information please contact: Investors Mike Cavanaugh, ICR Healthcare [email protected]

Interested in Nano-X Imaging Ltd.? Here are five stocks we like better. Revenue increased 37% year over year to $4.2 million in Q2 2026, driven by Nanox Health IT consolidation, teleradiology growth and AI/software sales. Teleradiology contributed $3 million, while AI and software generated $1 million. GAAP net loss widened to $55.5 million, primarily because of a $40.7 million non-cash impairment charge tied to AI-related intangible assets. Cash and restricted deposits fell to $31.4 million at quarter-end, although the company subsequently raised $8.5 million. Nanox is restructuring to reduce cash burn by idling its South Korean chip line, cutting Korean headcount by two-thirds and reducing Israel-based staff by 15%; annualized savings are expected to reach about $2 million beginning in 2027. Meanwhile, the company is expanding Nanox.ARC deployments, U.S. distribution partnerships and AI pilots while pursuing reimbursement opportunities. Nano-X Imaging (NASDAQ:NNOX) Stock: Reimagining the X-Ray Nano-X Imaging (NASDAQ:NNOX) reported second-quarter 2026 revenue growth driven by its teleradiology, health IT and AI businesses, while recording a substantial non-cash impairment charge and outlining cost-reduction actions intended to extend its cash runway. Revenue for the quarter ended June 30 rose 37% year over year to $4.2 million, compared with $3 million in the prior-year period. Chief Financial Officer Guy Nathanzon said the increase was primarily supported by the consolidation of Nanox Health IT, formerly VasoHealthcare IT, which contributed $0.9 million in quarterly revenue after being consolidated in November 2025. → 3 Under-the-Radar Defense Stocks With Record Backlogs Teleradiology services generated $3 million in revenue, while AI and software solutions contributed $1 million. Imaging-system sales and OEM services accounted for $0.2 million. The company said its USARAD teleradiology division delivered year-over-year growth averaging 14% during the first half of 2026, supported by expansion of its client base. Nanox reported a GAAP net loss of $55.5 million for the second quarter, compared with a $14.7 million loss a year earlier. The result included a $40.7 million impairment charge related to intangible assets in the company’s AI solutions business unit, excluding Nanox Health IT. → Ride-Share Reckoning: Tesla Drives Into Uber's Lane Nathanzon said the impairment assessment was triggered by a significant decline in Nanox’s share price and reduced forecasts for revenue and operating results. The charge reduced the fair value of the affected AI-related intangible assets to $1.9 million. He said the impairment did not result in a cash outflow and was excluded from adjusted EBITDA. On a non-GAAP basis, Nanox posted a net loss of $11.6 million, compared with $10.9 million in the prior-year quarter. Adjusted EBITDA loss was $11.3 million, versus an adjusted EBITDA loss of $10.4 million a year earlier. GAAP operating expenses were $11.8 million, while non-GAAP operating expenses were $11.1 million. → High Gas Prices Aren't Budging—Here Are 3 Stocks That Benefit Cash, cash equivalents and restricted deposits totaled $31.4 million as of June 30, down from $60 million in cash, cash equivalents, short-term deposits and restricted deposits at the end of 2025. Following the quarter, the company raised $8.5 million in aggregate gross proceeds through its at-the-market program and a registered direct offering. Nathanzon said Nanox intends to continue seeking capital from various sources. Management also detailed changes intended to reduce fixed costs and shift manufacturing responsibilities to outside partners. The company idled its chip-production line in South Korea and reduced its Korean workforce by about two-thirds. It also reduced Israel-based headcount by 15%. Nanox plans to transition volume chip production to qualified third-party manufacturing partners and has begun processes in preparation for a sale of its South Korean manufacturing facility. The actions are expected to generate approximately $2 million in annualized cost savings beginning in 2027, with most of the savings expected to be reflected in operating expenses, Nathanzon said. Chief Executive Officer and acting Chairman Erez Meltzer said the restructuring is designed to streamline the operating model, lower cash burn and focus company resources on core technology and commercialization priorities. Meltzer said commercialization of the Nanox.ARC imaging system has taken longer than initially expected, citing operational requirements involving permits, shielding, construction schedules and integration into clinical workflows at imaging centers. The company is increasingly using commercial partners with existing imaging-industry relationships to support deployments. The company now has 10 signed commercial distribution partnerships in the U.S., including a newly announced agreement between Nanox Impact Inc. and Associated X-Ray Imaging Corp. in New England. Nanox also cited recent engagements with Digital X-ray Imaging, Integrity Medical Service and Elite Surgical Technologies. During the quarter and subsequent period, the company advanced deployments in Europe and Latin America. In response to an analyst question, Meltzer said systems had been placed in Greece, Romania and the Czech Republic, while installations in Peru and Argentina were awaiting import licenses. Nanox also appointed SOLME RC, S.A. as a distribution partner in Costa Rica. In the U.S., Nanox said a system operating at a RadNet facility has been integrated into routine clinical workflow. The company also installed systems at an orthopedic center in Florida, an urgent-care unit in New Jersey, and through its Nanox Imaging Network initiative. Meltzer said one customer transitioned from a medical-screening-as-a-service arrangement to a capital-equipment purchase. Nanox completed the first Nanox Imaging Network installation in Philadelphia, where the site has begun scanning patients. Meltzer said the company has received paid insurance claims ranging from $200 to $700 per claim. Based on its preliminary business model, management believes an individual network site could potentially generate annual revenue of $500,000 to $1 million, depending on utilization, reimbursement levels, payer mix and execution. Nanox.AI launched five new installation pilots across the U.S. and India and entered an exclusive U.K. sales-reseller agreement with Virtek Vision International for its bone solution. The company also completed a pilot study with Cedars-Sinai in which its Health AVC product showed more than 92% agreement with standard-of-care tools for assessing aortic valve calcification. The company highlighted a new CMS Healthcare Common Procedure Coding System code, G0680, effective April 1, 2026, for algorithmic analysis of coronary artery calcium and/or aortic valve calcification from chest CT scans. Meltzer said the code creates a potential reimbursement pathway for Nanox.AI Cardio when applicable documentation and medical-necessity requirements are met. Looking ahead, Meltzer said Nanox plans to use the RSNA 2026 conference to engage with customers, partners and clinical leaders and position the event as a commercial kickoff for 2027. Nano-X Imaging Ltd. is a medical technology company developing and commercializing a digital X-ray imaging platform designed to lower the cost and increase the accessibility of diagnostic imaging. Its flagship product, the Nanox.ARC, leverages a proprietary micro-electromechanical system (MEMS) based digital X-ray source and advanced image processing software to provide 2D and 3D imaging capabilities on a compact footprint. The system aims to streamline radiology workflows and facilitate point-of-care diagnostics in hospitals, clinics and outpatient settings. The Nanox.ARC platform integrates a novel cold cathode X-ray source, which enables multiple emission points without the need for rotating anode tubes. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Nano-X Imaging Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for September 2026.

LOS ANGELES, CA - August 27, 2026 (NEWMEDIAWIRE) - Nanox (NASDAQ: NNOX), an innovative medical imaging technology company, announced it will report financial results for the quarter ended June 30, 2026, before market open on Sept. 9, 2026. CEO and Acting Chairman Erez Meltzer and CFO Guy Nathanzon will host a conference call beginning at 8:30 a.m. ET to review the results and provide a business update. A live webcast will also be available through the Investor Relations section of the Nanox website. To view the full press release, visit https://ibn.fm/y877D About Nanox Nanox is focused on driving the world's transition to preventive health care by delivering an integrated, end-to-end medical imaging and healthcare services platform. Nanox combines affordable imaging hardware, advanced AI-based solutions, cloud-based software, access to remote radiology, health IT solutions, and a marketplace to enable earlier detection, improved clinical efficiency, and broader access to care. Nanox's vision is to expand the reach of medical imaging both within and beyond traditional hospital settings by providing a seamless solution from scan to interpretation and beyond. By leveraging proprietary digital X-ray technology, AI-driven analytics, and a clinically driven approach, Nanox aims to enhance the efficiency of routine imaging workflows, support early detection of disease, and improve patient outcomes. The Nanox ecosystem includes Nanox.ARC, a cost-effective, 3D multi-source digital tomosynthesis imaging system designed for ease of use and scalability; Nanox.AI, a suite of AI-based algorithms that augment the interpretation of routine CT imaging to identify early signs often associated with chronic disease; Nanox.CLOUD, a cloud-based platform for secure data management, storage, and advanced imaging analytics; Nanox.MARKETPLACE and USARAD Holdings, which provide access to remote radiology and cardiology experts and comprehensive teleradiology services; and Nanox Health IT, which combines deep healthcare IT expertise with leading technology partners to deliver RIS, PACS, AI, dictation, and secure infrastructure solutions that streamline workflows and support safer, more efficient care delivery. By integrating imaging technology, AI, cloud infrastructure, clinical expertise, a marketplace, and health information technology, Nanox seeks to lower barriers to adoption, improve utilization, and advance preventive care worldwide Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://IBN.fm/Disclaimer The latest news and updates relating to NNOX are available in the company's newsroom at https://ibn.fm/NNOX Forward Looking Statements Certain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law View the original release on www.newmediawire.com

PETACH TIKVA, Israel, Aug. 25, 2026 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD ("Nanox" or the "Company", Nasdaq: NNOX), an innovative medical imaging technology company, today announced that it will report its financial results for the quarter ended June 30, 2026, before market open on Monday, September, 9, 2026. Erez Meltzer, Chief Executive Officer and Acting Chairman, and Guy Nathanzon, Chief Financial Officer, will host a conference call to review these results and provide a business update beginning at 8:30 a.m. ET. Interested parties may register for the conference call using the following link:  Nanox Q2 2026 Conference Call The live webcast of the conference call may be accessed by using the following link: Nanox Q2 2026 Webcast The webcast link will also be posted in the Investor Relations section of the Nanox website at Events and Presentations. About Nanox Nanox (NASDAQ: NNOX) is focused on driving the world’s transition to preventive health care by delivering an integrated, end-to-end medical imaging and healthcare services platform. Nanox combines affordable imaging hardware, advanced AI-based solutions, cloud-based software, access to remote radiology, health IT solutions, and a marketplace to enable earlier detection, improved clinical efficiency, and broader access to care. Nanox’s vision is to expand the reach of medical imaging both within and beyond traditional hospital settings by providing a seamless solution from scan to interpretation and beyond. By leveraging proprietary digital X-ray technology, AI-driven analytics, and a clinically driven approach, Nanox aims to enhance the efficiency of routine imaging workflows, support early detection of disease, and improve patient outcomes. The Nanox ecosystem includes Nanox.ARC, a cost-effective, 3D multi-source digital tomosynthesis imaging system designed for ease of use and scalability; Nanox.AI, a suite of AI-based algorithms that augment the interpretation of routine CT imaging to identify early signs often associated with chronic disease; Nanox.CLOUD, a cloud-based platform for secure data management, storage, and advanced imaging analytics; Nanox.MARKETPLACE and USARAD Holdings, which provide access to remote radiology and cardiology experts and comprehensive teleradiology services; and Nanox Health IT, which combines deep healthcare IT expertise with leading technology partners to deliver RIS, PACS, AI, dictation, and secure infrastructure solutions that streamline workflows and support safer, more efficient care delivery. By integrating imaging technology, AI, cloud infrastructure, clinical expertise, a marketplace, and health information technology, Nanox seeks to lower barriers to adoption, improve utilization, and advance preventive care worldwide. For more information, please visit www.nanox.vision Contacts Investor ContactMike CavanaughICR [email protected] Media ContactICR [email protected]

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is transitioning from a direct-only sales model to a multi-channel approach, emphasizing partnerships with established medical equipment distributors to gain market credibility and broader coverage. The company is prioritizing high-visibility reference sites, such as RadNet, to demonstrate clinical utility and financial benefits to potential customers in routine workflows. A new 'Nano-X Imaging Network' has been established to target high-reimbursement segments like workers' compensation and concierge medicine to support higher per-scan pricing. Management attributed the withdrawal of 2026 revenue guidance to significant variability in timelines for site readiness, infrastructure completion, and regulatory processes that are often outside the company's control. The commercial model is evolving toward a CapEx-driven approach, which management believes will reduce future cash needs and accelerate the path to breakeven. Strategic focus has shifted from pure development to execution, specifically converting a pipeline of approximately 360 potential system sales into active installations. The company no longer intends to provide annual revenue guidance, instead focusing on operational milestones like system activations and utilization growth as primary progress indicators. Management expects a reduction in the cash burn rate following the restructuring of South Korean operations and a 15-person headcount reduction in Israel. The AI division is projected to reach a cash-neutral or breakeven point by early 2027, supported by high gross margins in the 80% range. Q3 2026 is identified as a critical period for the implementation of systems following the onboarding and training of new distribution partners during Q2. Ongoing evaluations of the South Korean operations include a potential sale of assets or an orderly wind-down to maximize shareholder value. Management issued a 'going concern' warning, noting that current cash of $44.2 million (as of March 31) is sufficient for at least one year but requires additional capital raises to sustain long-term operations. A restructuring plan for South Korean operations has commenced to optimize cost structures and improve capital efficiency. The company is facing longer-than-anticipated timelines between signing commercial agreements and recognizing revenue due to complex site-readiness requirements. CFO Ran Daniel is transitioning out of the company, with Guy Nathansohn joining to manage the handover. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Revenue growth is driven by a shift in the mix toward high-price readings like MRI and CT at the expense of standard X-rays. The teleradiology segment serves as a cross-selling engine, providing leads for Nanox.ARC and AI solutions while also reading scans generated by newly deployed ARC units. The company has signed agreements for approximately 360 units over the next two to three years, with partners estimating roughly 60 units for the current year. Expansion is planned across international markets including Greece, Romania, Peru, and Argentina, alongside 21 planned sites for the Nano-X Imaging Network. Management confirmed that total operating expenses are expected to decline sequentially due to the South Korean restructuring and headcount reductions. Early indications from June suggest a visible reduction in the monthly burn rate.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is shifting from a direct-only sales approach to a multi-channel model, emphasizing partnerships with established medical equipment distributors to gain market credibility and efficiency. The company is transitioning toward a CapEx-driven commercial model to accelerate revenue growth while reducing future cash requirements and the timeline to breakeven. A strategic restructuring is underway to optimize the cost structure, including a 15-person headcount reduction in Israel and a potential wind-down or sale of South Korean operations. The 'Nano-X Imaging Network' was launched to target high-reimbursement segments like workers' compensation and concierge medicine to support higher per-scan pricing. Management attributed the withdrawal of 2026 revenue guidance to longer-than-anticipated timelines for site readiness, regulatory permits, and customer implementation schedules. The RadNet deployment serves as a critical high-visibility reference site, demonstrating the Nanox.ARC's clinical value within routine outpatient workflows to encourage broader adoption. The company has secured commercial agreements for approximately 360 CapEx system sales over the next two to three years, with partner Howard estimating 60 units in 2026. Management expects operating expenses and cash burn to decline sequentially starting in June 2026 due to restructuring efforts and reduced South Korean operations. Future performance evaluation will shift from annual revenue guidance to operational milestones such as system activations, utilization growth, and service expansion. The AI and Health IT segments are projected to reach breakeven by early 2027, supported by high gross margins in the 80% range. Varex tubes are in the final integration phase to become the primary X-ray source, with Oak Ridge National Laboratory prototypes expected for testing in early Q3. Management disclosed 'substantial doubt' regarding the company's ability to continue as a going concern, with cash reserves dropping to approximately $27 million as of the press release date. The company is actively seeking additional funding through private equity or capital markets, noting that such financing may result in significant shareholder dilution. A comprehensive restructuring of South Korean operations is being evaluated, including options for an orderly wind-down or a sale of related assets. The consolidation of VasoHealthcare IT (now Nanox Health IT) contributed $0.9 million to the quarter's revenue, representing a key inorganic growth driver. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Revenues more than doubled since the USARAD acquisition due to a customer base of several hundred and a shift toward higher-priced MRI and CT readings. Management highlighted a synergistic loop where teleradiology leads to ARC and AI sales, while new ARC deployments create demand for reading services. Beyond the 360-unit partner pipeline, the company is planning 21 sites for the Nano-X Imaging Network, with two sites currently preparing to scan. International expansion is targeting Greece, Romania, Peru, Argentina, and the Czech Republic, following an initial system placement in France. Management confirmed that total operating expenses are expected to decline sequentially due to headcount reductions and the scaling back of the South Korean footprint. Early indications from June suggest the burn rate is already beginning to moderate. While 2026 guidance was removed, management expects a revenue ramp in Q3 and Q4 as Q2 was primarily dedicated to partner onboarding and training. The company is currently working through a list of tens of potential customers engaged through new business partners.

This article first appeared on GuruFocus. Revenue: $4.3 million, up from $2.8 million in the comparable period. Gross Loss (GAAP): $2.6 million, compared to $3 million previously. Non-GAAP Gross Loss: $0.2 million, compared to $0.4 million previously. Teleradiology Services Revenue: $3.1 million, up from $2.6 million. Teleradiology Services Gross Profit Margin (GAAP): 24%, up from 17%. Teleradiology Services Gross Profit Margin (Non-GAAP): 36%, compared to 39% previously. AI and Software Solutions Revenue: $1 million, up from $0.2 million. AI and Software Solutions Gross Loss (GAAP): $1.7 million, compared to $1.9 million previously. Non-GAAP Gross Profit for AI and Software Solutions: $0.3 million, up from $81,000. Research and Development Expenses: $4.8 million, compared to $5 million previously. Sales and Marketing Expenses: $2.2 million, up from $0.9 million. General and Administrative Expenses: $5.2 million, compared to $5.1 million previously. GAAP Net Loss: $14.3 million, compared to $13.2 million previously. Non-GAAP Net Loss: $11.1 million, compared to $9.4 million previously. Cash and Cash Equivalents: $44.2 million as of March 31, 2026, down from $60 million as of December 31, 2025. Negative Cash Flow from Operations: $14 million during the reported period. Warning! GuruFocus has detected 5 Warning Signs with NNOX. Is NNOX fairly valued? Test your thesis with our free DCF calculator. Release Date: June 25, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nano X Imaging Ltd (NASDAQ:NNOX) is beginning to see early signs of revenue from its Nanox.ARC systems, indicating initial market traction. The company has restructured its US commercial model to emphasize partnerships, securing multiple commercial agreements with established medical equipment distributors. Deployments of Nanox.ARC systems are increasing, with strategic placements at high-visibility sites like RadNet, the largest outpatient imaging center operator in the US. The company is exploring opportunities in segments with potentially higher reimbursement rates, such as workers' compensation groups and concierge medical providers. Nano X Imaging Ltd (NASDAQ:NNOX) has initiated a restructuring process to optimize its cost structure, improve capital efficiency, and reduce burn rates, aligning operations with long-term business objectives. The company no longer expects to achieve its previously announced 2026 revenue targets due to longer-than-anticipated timelines for commercialization and revenue recognition. Management has expressed concerns about the company's ability to continue as a going concern due to insufficient cash reserves to support operations for at least one year. There is substantial doubt about the company's ability to secure additional funding, which may lead to dilution of shareholder value or unfavorable financing terms. The transition from signed agreements to active sales and revenue recognition is slow, affected by factors such as site readiness and regulatory processes. Nano X Imaging Ltd (NASDAQ:NNOX) has decided not to provide annual revenue guidance going forward, which may reduce transparency for investors. Q: Could you talk about the teleradiology business, specifically regarding customer retention, rates, and volumes? A: Erez Meltzer, CEO: Since acquiring US Arad, we've more than doubled teleradiology revenues due to an increase in customer numbers, now in the hundreds. We're focusing on high-priced readings like MRI and CT, which have increased, impacting revenue positively. The teleradiology business also supports our ARC deployments by providing reading services for new systems. Q: Can you discuss the expected cadence of ARC unit deployments for the rest of the year? A: Erez Meltzer, CEO: We have agreements for 360 units over the next two to three years, with 60 expected this year in the US. Internationally, deployments are planned in Greece, Romania, Peru, Argentina, and more. RadNet, a major partner, plans to expand its use of our systems, and we aim to install 21 Nano-X Imaging network sites this year. Q: Should we expect Q2 to be stronger than Q1 in terms of financial performance? A: Erez Meltzer, CEO: We anticipate Q2 will be better than Q1, although specifics will be shared soon. We are working on reducing costs and improving efficiency, which should reflect positively in our financials. Q: How should we think about spending levels and operating expenses for the rest of the year? A: Erez Meltzer, CEO: We are rationalizing costs, including reducing headcount in Israel and optimizing operations in South Korea. We expect a reduction in our burn rate, which should lead to lower operating expenses. Q: Regarding the AI business, at what level would it be breakeven in terms of gross profit? A: Erez Meltzer, CEO: The AI and IT business has a high gross profit margin, likely in the 80% range. We expect it to reach breakeven earlier than initially anticipated, possibly by early 2027. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Management to host conference call and webcast on Thursday, June 25, 2026 at 8:30 AM ET PETACH TIKVA, Israel, June 25, 2026 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD (NASDAQ: NNOX) (“Nanox” or the “Company”), an innovative medical imaging technology company, today announced results for the first quarter ended March 31, 2026, and provided a business update. Recent Highlights: Generated $4.3 million in revenue in the first quarter of 2026, compared to $2.8 million in the first quarter of 2025. U.S. commercial partners began contributing sales leads and pipeline opportunities as the Company advanced execution of previously announced agreements. Increased scans utilization of deployed Nanox.ARC systems Initiated placing Nanox.ARC systems through the Nanox Imaging Network. A Nanox.ARC system has been operational for several months at a RadNet site. RadNet is the largest outpatient imaging center operator in the United States and has deployed a Nanox.ARC system at one of its facilities, where it is now in commercial use and integrated into routine clinical workflow. Continued advancement of the Cedars-Sinai collaboration supporting clinical validation and commercialization efforts for the Company’s AI-enabled cardiac solution. “To date, we are beginning to see revenue and increased scan utilization from the Nanox.ARC. ” said Erez Meltzer, Chief Executive Officer and Acting Chairman. “We’ve altered our approach to emphasize partnerships, prioritize deployments at high-visibility reference sites like RadNet, and began taking efficiency steps to improve our cost structure. While changing the standard of care in medical imaging takes time, we believe these adjustments position us more effectively for sustainable growth and to capitalize on the potential of Nanox.ARC. That said, the pace of commercialization will continue to depend on a range of factors, including market adoption, customer demand, site readiness, construction timelines, regulatory approvals, and the performance of our partners.” Detailed financial results for three months ended March 31, 2026 For the three months ended March 31, 2026 (the “Reported Period”), the Company reported revenue of $4.3 million in the Reported Period, compared to $2.8 million in the Comparable Period. During the Reported Period, the Company generated revenue through teleradiology services, the sale and deployment of its imaging systems and its AI and software solutions. The Company’s gross loss during the Reported Period totaled $2.6 million (gross loss margin of (60%)) on a GAAP basis, as compared to $3.0 million (gross loss margin of (108%)) in the Comparable Period. Non-GAAP gross loss for the Reported Period was $0.2 million (gross loss margin of approximately 4%), as compared to gross loss of $0.4 million (gross loss margin of approximately 15%) in the Comparable Period. The Company’s revenue from teleradiology services for the Reported Period was $3.1 million, compared to revenue of $2.6 million in the Comparable Period. The Company’s GAAP gross profit from teleradiology services for the Reported Period was $0.7 million (gross profit margin of approximately 24%), as compared to $0.4 million (gross profit margin of approximately 17%) in the Comparable Period. Non-GAAP gross profit of the Company’s teleradiology services for the Reported Period was $1.1 million (gross profit margin of approximately 36%) as compared to $1.0 million (gross profit margin of approximately 39%) in the Comparable Period. The increase in the Company’s revenue from teleradiology services was mainly attributable to customer retention, increased rates and increased volume of the Company’s teleradiology reading services during weekdays shifts. During the Reported Period, the Company generated revenue through the sales and deployment of its imaging systems and OEM services which amounted to $167 thousand for the Reported Period, with a gross loss of $1.6 million on a GAAP and a non-GAAP basis, compared to revenue of $33 thousand with a gross loss of $1.6 million on a GAAP basis and $1.5 million on a Non-GAAP basis in the Comparable Period. The revenue stems from the sale and deployment of two Nanox Connect units in the amount of $118 thousand, deployment of its imaging systems in the amount of $11 thousand and the revenue due to our OEM services in in the amount of $38 thousand. The Company’s revenue from its AI and software solutions for the Reported Period was $1 million with a gross loss of $1.7 million on a GAAP basis, compared to revenue of $0.2 million with a gross loss of $1.9 million in the Comparable Period. Non-GAAP gross profit of the Company’s AI solutions for the Reported Period was $274 thousand, compared to Non-GAAP gross profit of $81 thousand in the Comparable Period. Included in the reported period, revenue of $0.9 million that was generated by Nanox Health IT Inc. Research and development expenses, net, for the Reported Period were $4.8 million, compared to $5.0 million in the Comparable Period, reflecting a decrease of $0.2 million. The decrease was mainly due to a decrease of $0.1 million in share-based compensation, and $0.3 million in expenses related to the Company’s research and development and regulation activities, which was offset by an increase of $0.3 million in salaries and wages. Sales and marketing expenses for the Reported Period were $2.2 million compared to $0.9 million in the Comparable Period, reflecting an increase of $1.3 million. The increase was mainly due to an increase of $0.8 million in salaries and wages and $0.3 million in marketing expenses. General and administrative expenses for the Reported Period were $5.2 million, compared to $5.1 million in the Comparable Period. The increase of $0.1 million was mainly due to an increase of $0.7 million in legal expenses and professional services, which was mitigated by a decrease of $0.2 million in the Company’s IT expenses, $0.1 million in the Company’s recruiting expenses and $0.2 million in share-based compensation. The Company reported a net loss of $14.3 million, compared to a net loss of $13.2 million for the three months ended March 31, 2025 (which is referred as the “Comparable Period”), representing an increase of $1.1 million. The increase was largely due to an increase of $0.9 million in operating expenses, decrease of $0.4 million in financial income and increase of $0.2 million in tax expense, which was mitigated by decrease of $0.4 million in gross loss. Non-GAAP net loss attributable to ordinary shares for the Reported Period was $11.1 million, compared to $9.4 million in the Comparable Period. The increase of $1.7 million was mainly due to an increase of $1.2 million in Non-GAAP sales and marketing expenses, $0.3 million in Non-GAAP general and administrative expenses and decrease of $0.4 million in financial income. The increase was mitigated by a decrease of $0.3 million in gross loss. Non-GAAP gross loss for the Reported Period was $0.2 million, compared to a non-GAAP gross loss of $0.4 million in the Comparable Period. Non-GAAP research and development expenses, net for the Reported Period, were $4.6 million, compared to $4.6 million in the Comparable Period. Non-GAAP sales and marketing expenses for the Reported Period were $1.9 million, compared to $0.8 million in the Comparable Period. Non-GAAP general and administrative expenses for the Reported Period were $4.8 million, compared to $4.5 million in the Comparable Period. The difference between the GAAP and non-GAAP financial measures above is mainly attributable to amortization of intangible assets, share-based compensation, change in contingent earnout liability, and expenses in connection with the settlement with a shareholder. A reconciliation between GAAP and non-GAAP financial measures for the three -month periods ended March 31, 2026, and 2025 is provided in the financial results that are part of this press release. Update on South Korea Operations As previously disclosed, the Company initiated a restructuring plan with respect to its South Korea operations. The Company has commenced implementation of the restructuring process and continues to evaluate opportunities to optimize its cost structure and maximize the value of the related assets. As part of this evaluation, the Company is assessing several alternatives, including: an expansion of the previously disclosed restructuring plan, which could involve a broader scope of operational consolidation and cost reduction initiatives; a potential sale of the Company’s South Korea operations and related assets; and an orderly wind-down or closure of all or part of the South Korea operations. The evaluation remains ongoing and the Company has not determined whether it will pursue any alternative. There can be no assurance as to the outcome or timing of this process. Revenue Outlook and Guidance Policy Since providing its revenue target for 2026, the Company has continued to advance its commercialization efforts across its businesses and has made progress across a number of commercial, operational and strategic initiatives. At the same time, the Company has experienced longer-than-anticipated timelines between the execution of commercial agreements, system deployments, activations, commencement of services and the related recognition of revenue. The timing of revenue generation and revenue recognition across the Company’s businesses is influenced by a number of factors, many of which are outside of the Company’s control, including site readiness, construction and infrastructure completion, customer implementation schedules, regulatory processes including local or state licenses, system activation timing, utilization ramp-up, integration timelines and activities performed by customers, business partners and other third parties. While the Company remains encouraged by customer interest, commercial activity and market adoption, the variability associated with deployment timelines, service implementation and revenue recognition can significantly affect the timing at which revenue is recognized in any particular reporting period. As a result of these timing-related factors, the Company no longer expects to achieve the 2026 revenue target previously announced on April 20, 2026. Based on the Company’s experience to date and the variability associated with deployment timelines, implementation schedules and revenue recognition, the Company has determined that annual revenue guidance is not currently an appropriate tool for evaluating the Company’s operating progress and, accordingly, the Company does not intend to provide annual revenue guidance going forward. The Company remains focused on executing its commercial strategy across its businesses, including advancing Nanox.ARC deployments and activations, increasing utilization across operational sites, expanding its teleradiology, OEM and Health IT offerings, advancing the commercialization of its AI-enabled solutions, and implementing existing commercial agreements, including agreements that contemplate the deployment of hundreds of systems over the coming years. The Company believes that progress at this stage is more appropriately reflected through operational, commercial and strategic milestones, including deployments, activations, utilization growth, service expansion, customer adoption and execution of commercial agreements, rather than solely by the timing of revenue recognition in any particular reporting period. The Company continues to believe that the long-term opportunity for its imaging, teleradiology, AI, OEM and Health IT solutions remains significant. Management believes the Company has made meaningful progress across its commercial, operational and strategic initiatives and remains focused on building long-term shareholder value through disciplined execution and continued expansion of its platform. Update on Systems Deployment The Company has continued to make progress in advancing its deployment activities; however, the pace of deployment remains subject to a number of factors, some of which are outside the Company’s control, including import licensing requirements, construction timelines, and regulatory processes in certain markets. These factors have and may in the future continue to impact the timing of system installations and activation. The Company expects that, over time, certain of these processes may become more streamlined as additional sites advance through the deployment pipeline; however, there can be no assurance as to the timing or extent of such improvements. To date, the Company has approximately 40 systems in various stages of deployment, including clinical, demonstrations, commercial installations, and systems pending construction and/or regulatory approvals. Most of the deployed systems have not yet begun to generate revenues. Furthermore, approximately 21 systems are expected to be installed over the following months under the Nanox Imaging Network (“NIN”), a limited Proof-of-Concept initiative, in collaboration with Monarch Medical Management and Billing LLC. NIN is intended to evaluate a network-based imaging services operating model in the United States, focused on providing imaging services through selected sites serving workers’ compensation and other specialized healthcare segments. In addition, as previously reported, as part of the commercial shift in focus, the Company has recently entered into distribution agreements for approximately 360 Capex systems in the United States over the next two to three years. Such anticipated volumes, if executed as expected, reflect the Company’s current commercial arrangements and the expected activities of its distribution partners; however, the timing and extent of actual purchases are subject to a number of factors, including market adoption, customer demand, site readiness, construction timelines, regulatory approvals, and the performance of our partners. While these agreements represent expected commercial activity over time, many have not yet resulted in revenue, and the timing and extent of revenue recognition will depend on the progression of deployments, system activations, and other factors, including the performance of the Company’s distribution partners. The introduction of new medical technologies typically involves complex and multi-stage processes, including integration into clinical workflows, compliance with regulatory frameworks, and development of supporting operational infrastructure. These factors may extend deployment timelines, particularly in early stages, and may impact the timing of revenue generation. Liquidity, Capital Resources and Going Concern As of March 31, 2026, the Company had total cash, cash equivalents, short-term deposits and long-term restricted deposits of $44.2 million, compared to $60.0 million as of December 31, 2025. During the reported period the Company experienced negative cash flow from operations of $14.0 million. Since incorporation through March 31, 2026, the Company has accumulated a deficit of $463 million and its activities have been funded mainly by the sale of its Common Stock. The Company expects to continue to incur significant costs related to its ongoing operations. Management expects that the Company’s cash and cash equivalents, and deposits as of March 31, 2026 are not sufficient to support the Company’s operations under its current operating plans for at least one year from the issuance date of this Periodic Report. These factors raise substantial doubt as to the Company’s ability to continue as a going concern. On a preliminary unaudited basis, the Company estimates that its cash and cash equivalents net of a short-term bank loan to be approximately $27 million as of the date of issuance of this Periodic Report. Management is continuing in the process of seeking to raise funds in the private equity and capital markets as the Company will need to finance its operations. However, there is no assurance that the Company will be able to obtain such funding. To the extent additional funding is provided by the sale of securities or the incurrence of indebtedness, ordinary shareholder ownership interests may be diluted, and the terms of the financing may adversely affect rights of ordinary shareholders, impose restrictive covenants on the Company and result in increased fixed payment obligations. In order to finance our operations, we may also raise funds through collaborations, strategic partnerships or marketing, distribution or licensing arrangements with third parties, which may require us to relinquish valuable rights to our technologies, future revenue streams, research programs or products or grant licenses on terms that may not be favorable to us. In addition, the Company is exploring the use of mitigating actions such as postponing expenses that are not based on firm commitments. If we are unable to raise additional funds when needed, we may be required to delay, reduce or eliminate our product development or future commercialization efforts, or grant rights to develop and market products that we would otherwise prefer to develop and market ourselves. This Periodic Report does not include any adjustments that may be necessary should the Company be unable to continue as a going concern. Other Assets As of March 31, 2026 the Company had property and equipment of $30.6 million, compared to $29.7 million as of December 31, 2025. As of March 31, 2026, the Company had intangible assets of $57.4 million compared to $59.9 million as of December 31, 2025. The decrease was attributable to the periodic amortization of intangible assets in the amount of $2.5 million. Shareholders’ Equity As of March 31, 2026 and December 31, 2025, the Company had approximately 69.6 million shares outstanding. Legal Proceedings On June 12, 2026, a class action complaint was filed in the United States District Court of New Jersey against the Company and certain of its officers, captioned Steele v. Nano-X Imaging Ltd. et al, Case No. 1:26-cv-07062. The complaint alleges violations of federal securities laws on behalf of all persons and entities that purchased or otherwise acquired the Company’s publicly traded securities between March 31, 2025 and April 17, 2026 in connection with certain disclosures concerning the Company’s business, operations, and prospects, including with respect to the Company’s manufacturing facility in Korea. The plaintiff is seeking money damages. Due to the early stage of the case, it is not possible to assess the probability of a loss or reasonably estimate the ultimate costs and damages. Consequently, no accrual has been made in the financial statements regarding this matter. Conference Call and Webcast Details Thursday, June 25, 2026 @ 8:30am ET Individuals interested in listening to the conference call may do so by joining the live webcast on the Investors section of the Nanox website under Events and Presentations. Alternatively, individuals can register online to receive a dial-in number and personalized PIN to participate in the call. An archived webcast of the event will be available for replay following the event. About Nanox: Nanox (NASDAQ: NNOX) is focused on driving the world’s transition to preventive health care by delivering an integrated, end-to-end medical imaging and healthcare services platform. Nanox combines affordable imaging hardware, advanced AI-based solutions, cloud-based software, access to remote radiology, health IT solutions, and a marketplace to enable earlier detection, improved clinical efficiency, and broader access to care. Nanox’s vision is to expand the reach of medical imaging both within and beyond traditional hospital settings by providing a seamless solution from scan to interpretation and beyond. By leveraging proprietary digital X-ray technology, AI-driven analytics, and a clinically driven approach, Nanox aims to enhance the efficiency of routine imaging workflows, support early detection of disease, and improve patient outcomes. The Nanox ecosystem includes Nanox.ARC, a cost-effective, 3D multi-source digital tomosynthesis imaging system designed for ease of use and scalability; Nanox.AI, a suite of AI-based algorithms that augment the interpretation of routine CT imaging to identify early signs often associated with chronic disease; Nanox.CLOUD, a cloud-based platform for secure data management, storage, and advanced imaging analytics; Nanox.MARKETPLACE and USARAD Holdings, which provides access to remote radiology and cardiology experts and comprehensive teleradiology services; and Nanox Health IT combines deep healthcare IT expertise with leading technology partners to deliver RIS, PACS, AI, dictation, and secure infrastructure solutions that streamline workflows and support safer, more efficient care delivery. By integrating imaging technology, AI, cloud infrastructure, clinical expertise, a marketplace, and health information technology, Nanox seeks to lower barriers to adoption, improve utilization, and advance preventive care worldwide. For more information, please visit https://www.nanox.vision. Forward-Looking Statements This press release may contain forward-looking statements that are subject to risks and uncertainties. All statements that are not historical facts contained in this press release are forward-looking statements. Such statements include, but are not limited to, statements regarding: the Company’s expected commercialization efforts, business strategy and long-term growth opportunities; the expected timing, pace, extent and success of deployments, installations, activations and utilization of Nanox.ARC systems, including under the Nanox Imaging Network; the anticipated benefits, timing and extent of activity under existing commercial, distribution and strategic agreements, including contemplated deployments of hundreds of systems over the coming years; the potential outcome, scope and timing of the evaluation of strategic alternatives relating to the Company’s South Korea operations, including an expanded restructuring, a potential sale, wind-down or closure of all or part of such operations; the initiation, timing, progress and results of the Company’s research and development, manufacturing, and commercialization activities with respect to its X-ray source technology and the Nanox.ARC, the ability to realize the expected benefits of its recent acquisitions and the projected business prospects of the Company and the acquired companies. In some cases, you can identify forward-looking statements by terminology such as “can,” “might,” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “should,” “could,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on information the Company has when those statements are made or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause actual results to differ materially from those currently anticipated include: risks related to (i) Nanox’s ability to complete development of the Nanox System; (ii) Nanox’s ability to successfully demonstrate the feasibility of its technology for commercial applications; (iii) Nanox’s history of recurring losses and negative cash flows from operating activities, significant future commitments and the uncertainty regarding the adequacy of Nanox’s liquidity to pursue its complete business objectives, and substantial doubt regarding its ability to continue as a going concern; (iv) Nanox’s expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its technology, the Nanox.ARC and Nanox.CLOUD from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; (v) Nanox’s ability to realize the anticipated benefits of the acquisitions, which may be affected by, among other things, competition, brand recognition, the ability of the acquired companies to grow and manage growth profitably and retain their key employees; (vi) Nanox’s ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.ARC; (vii) the market acceptance of the Nanox System and the proposed pay-per-scan business model; (viii) Nanox’s expectations regarding collaborations with third-parties and their potential benefits; (ix) Nanox’s ability to conduct business globally; (x) changes in global, political, economic, business, competitive, market and regulatory forces; (xi) risks related to the current war between Israel and Hamas and any worsening of the situation in Israel; and (xii) risks related to litigation which may result in significant liability and damage to the Company’s reputation. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Nanox’s actual results to differ from those contained in the Forward-Looking Statements, see the section titled “Risk Factors” in Nanox’s Annual Report on Form 20-F for the year ended December 31, 2025, and subsequent filings with the U.S. Securities and Exchange Commission. The reader should not place undue reliance on any forward-looking statements included in this press release. Except as required by law, Nanox undertakes no obligation to update publicly any forward-looking statements after the date of this press release to conform these statements to actual results or to changes in the Company’s expectations. Non-GAAP Financial Measures This press release includes information about certain financial measures that are not prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), including non-GAAP net loss attributable to ordinary shares, non-GAAP cost of revenue, non-GAAP gross loss, non-GAAP gross loss margin, non-GAAP research and development expenses, net, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, non-GAAP other expenses and non-GAAP basic and diluted loss per share. These non-GAAP measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. These non-GAAP measures are adjusted for (as applicable) amortization of intangible assets, share-based compensation expenses, change in contingent earnout liability and expenses in connection with the settlement with a shareholder . The Company’s management and board of directors utilize these non-GAAP financial measures to evaluate the Company’s performance. The Company provides these non-GAAP measures of the Company’s performance to investors because management believes that these non-GAAP financial measures, when viewed with the Company’s results under GAAP and the accompanying reconciliations, are useful in identifying underlying trends in ongoing operations. However, these non-GAAP measures are not measures of financial performance under GAAP and, accordingly, should not be considered as alternatives to GAAP measures as indicators of operating performance. Further, these non-GAAP measures should not be considered measures of the Company’s liquidity. A reconciliation of certain GAAP to non-GAAP financial measures has been provided in the tables included in this press release. *  Less than $1. *  Less than 1 thousand US dollars. The accompanying notes are an integral part of the unaudited condensed consolidated financial statements UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (U.S. dollars in thousands (except per share data)) Use of Non-GAAP Financial Measures The unaudited condensed consolidated financial information is prepared in conformity with GAAP. The Company uses information about certain financial measures that are not prepared in accordance with GAAP, including non-GAAP net loss attributable to ordinary shares, non-GAAP cost of revenue, non-GAAP gross loss, non-GAAP gross loss margin, non-GAAP research and development expenses, net, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, non-GAAP other expenses and non-GAAP basic and diluted loss per share. These non-GAAP measures are adjusted for (as applicable) amortization of intangible assets, share-based compensation expenses, change in contingent earnout liability, and expenses in connection with the settlement with a shareholder. The Company believes that separate analysis and exclusion of the one-off or non-cash impact of the above reconciling items (as applicable) adds clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measures for planning, forecasting, and measuring results against the forecast. The Company believes that the non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance. However, these non-GAAP measures are not measures of financial performance under GAAP and, accordingly, should not be considered as alternatives to GAAP measures as indicators of operating performance. Reconciliation of GAAP net loss attributable to ordinary shares to Non-GAAP net loss attributable to ordinary shares and Non-GAAP basic and diluted loss per share (U.S. dollars in thousands) Reconciliation of GAAP cost of revenue to Non-GAAP cost of revenue (U.S. dollars in thousands) Reconciliation of GAAP gross loss to Non-GAAP gross profit (U.S. dollars in thousands) Reconciliation of GAAP gross loss margin to Non-GAAP gross profit margin (in percentage of revenue) Reconciliation of GAAP research and development, net, expenses to Non-GAAP research and development expenses (U.S. dollars in thousands) Reconciliation of GAAP sales and marketing expenses to Non-GAAP sales and marketing expenses (U.S. dollars in thousands) Reconciliation of GAAP general and administrative expenses to Non-GAAP general and administrative expenses (U.S. dollars in thousands) Reconciliation of GAAP other income to Non-GAAP other income (U.S. dollars in thousands) Contacts: InvestorsMike Cavanaugh, ICR [email protected] [email protected]