NANO-X IMAGING LTD announced its financial results for the fourth quarter and fiscal year ended December 31, 2024. For the fourth quarter, the company reported $3.0 million in revenue, an increase from $2.4 million in the same period of 2023. However, the net loss deepened to $14.1 million, or $0.23 per share, compared to a deficit of $10.2 million in the prior year.
The deeper net loss was attributed to a one-time $3 million income item booked in the third quarter of 2024. Despite the increased loss, the company highlighted recent regulatory successes, including the FDA's general use clearance for its Nanox.ARC in December and the granting of a CE mark for the same system in February.
As of December 31, 2024, Nanox reported $83.5 million in cash, cash equivalents, and other liquid assets, a slight increase from $82.8 million at the conclusion of 2023. This indicates management's focus on conserving capital while advancing commercialization efforts globally, including new customer and channel partner agreements for Nanox.ARC and Nanox AI.
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