Business
Nanox Announces Third Quarter of 2024 Financial Results and Provides Business Update
Made progress deploying all components of the Nanox solution including Nanox.ARC and Nanox.AI Expanded US sales and support staff a key component of global
About this update from Nano-x Imaging Ltd
[{"type":"text","content":"Made progress deploying all components of the Nanox solution including Nanox.ARC and Nanox.AI Expanded US sales and support staff a key component of global strategic growth plan Management to host conference call and webcast Thursday, November 21, 2024 at 8:30 AM ET PETACH TIKVA, Israel, Nov. 21, 2024 (GLOBE NEWSWIRE) -- November 21, 2024 — NANO-X IMAGING LTD (NASDAQ: NNOX) (“Nanox” or the “Company”), an innovative medical imaging technology company, today announced results for the third quarter ended September 30, 2024 and provided a business update. Recent Highlights: Generated $3.0 million in revenue in the third quarter of 2024, compared to $2.5 million in the third quarter of 2023. Continued to expand the US sales and support teams, and made progress in deployment, with dozens of units deployed globally. Growth of the Nanox.AI business continued apace, signing new distribution agreements with SpinexMedical, and extending our agreements with users such as: Corewell Health, Dandelion health and Oxford University Hospitals extending the use of the Nanox.AI solutions. Multi-site clinical trial aimed at generating data supporting the clinical value of the Nanox.ARC is in progress at Beilinson hospital in Israel and in Ghana. “I am more confident than ever in the future of Nanox as we accelerate the deployment of our Nanox.ARC and Nanox.AI technologies across the U.S. and international markets.” said Erez Meltzer, Nanox Chief Executive Officer and Acting Chairman. “The positive feedback from healthcare providers and patients underscores the transformative potential of our solutions across the healthcare continuum. On the regulatory front, we are working closely with the FDA on our application for full body scanning, and the European Union regulatory bodies to complete the CE Mark designation process. We believe securing these approvals will further solidify our position in the market, while significantly expanding our total addressable market. Coupled with our growing sales and support infrastructure we have established this past year, we are well-positioned to maintain our strong commercial momentum into 2025 and beyond.” Financial results for three months ended September 30, 2024 For the three months ended September 30, 2024 (the “reported period”), the Company reported a net loss of $13.6 million, compared to a net loss of $21...