NANO-X IMAGING LTD announced its financial results for the second quarter ended June 30, 2025, reporting a GAAP net loss of $14.7 million. This represents an increase from the $13.6 million net loss in the comparable period of 2024, primarily due to higher gross loss and finance expenses, partially offset by reduced operating expenses. The non-GAAP net loss for the quarter was $10.9 million, compared to $8.4 million in Q2 2024.
The company generated $3.0 million in revenue for the quarter, an increase from $2.7 million in the prior year's period. Teleradiology services revenue increased to $2.7 million from $2.5 million, with a GAAP gross profit of $0.5 million (18% margin) and a non-GAAP gross profit of $1.0 million (38% margin). AI solutions revenue remained consistent at $0.1 million, incurring a GAAP gross loss of $2.0 million. Imaging systems and OEM services revenue grew to $221,000 from $68,000, but resulted in a GAAP and non-GAAP gross loss of $1.7 million.
As of June 30, 2025, Nanox held approximately $62.6 million in cash, cash equivalents, restricted deposits, and marketable securities. The company reported that more than 20 Nanox.ARC systems are operating and scanning patients, and it remains on pace to meet its target of 100 Nanox.ARC systems installed or deployed by year-end 2025. Revenues from the imaging segment are expected to grow in the second half of the year.
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