NNOX Reports Q1 2026 Earnings

Nano X Imaging (NASDAQ: NNOX ) held its first-quarter earnings conference call on Thursday.

Below is the complete transcript from the call.

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The full earnings call is available at Summary Nano X Imaging Limited reported early revenue generation from Nano X Arc systems, with momentum in deployments and expanding partnerships.

The company restructured its US commercial model to emphasize partnerships, securing multiple agreements with medical equipment distributors.

Nano X Arc systems are operational at high-visibility sites like RadNet and are part of a multichannel model to increase scan volumes and revenues.

Despite progress, the company no longer expects to meet its 2026 revenue target due to longer-than-anticipated deployment timelines and external factors affecting revenue recognition.

Financial performance showed a revenue increase to $4.3 million, with a GAAP net loss of $14.3 million and cash reserves raising concerns about the company's ability to continue as a going concern without additional funding.

Management is shifting focus away from annual revenue guidance to operational and strategic milestones, such as deployments and customer adoption.

The company's AI and teleradiology businesses are growing, with significant partnerships and pilot programs contributing to commercial deployments and revenue generation.

Cost reduction initiatives are underway, particularly in South Korean operations, to optimize cost structure and improve capital efficiency.

Full Transcript OPERATOR Good day and thank you for standing by.

Welcome to the Nano X Imaging first quarter 2026 earnings call.

At this time, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question and answer session.

To ask a question during the session, you will need to press star 11 on your telephone.

You will then hear an automated message advising your hand is raised.

To withdraw your question, please press star 11 again.

Please be advised that today's 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, Investor Relations Good morning and welcome to the Nano X Imaging First Quarter 2026 Investor Call.

Earlier today, Nano X Imaging Limited released financial results for the quarter ending March 31, 2026.

The release is currently available on the Investors section of the Company's website.

With me today is Erez Meltzer, Chief Executive Officer and Acting Chairman.

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 results, 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.

A reconciliation of the non-GAAP to GAAP measures is provided with our press release, with the primary differences being non-GAAP net loss attributable to ordinary shares, non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP research and development expenses, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, and non-GAAP gross loss per share.

With that, I'd now like to turn the call over to Erez Meltzer.

Hitoshi Masuya, Chief Executive Officer Good morning and thank you for joining us today for the Nano X Imaging First Quarter 2026 Financial Results Conference call.

I'm pleased to report that as previously indicated, we are beginning to see early signs of revenue from Nano X Arc.

We are seeing momentum across multiple fronts, from record deployments to expanding partnerships supporting our technology and business model.