The earnings call for Nano-X Imaging, covering the fourth quarter of 2024, took place on March 31, 2025, at 8:30 a.m. ET. The meeting featured prepared remarks, a Q&A session, and participation from key company figures, including CEO and acting Chairman Erez Meltzer, CFO Ran Daniel, and Mike Cavanaugh from investor relations.
At the start of the call, Mike Cavanaugh announced the release of financial results and reminded listeners of potential forward-looking statements. Erez Meltzer then provided updates on regulatory achievements, notably the FDA general use clearance and the CE Mark designation for the Nanox.ARC system, highlighting these as significant milestones in the company’s strategic advancements in the medical imaging field during the reported period.
In the U.S. market, Nano-X made progress in deploying the Nanox.ARC system, gaining positive feedback from existing customers and signing new agreements with channel partners. Efforts to penetrate the European market were underway now that the CE Mark had been granted, with initial entry points including Romania and Greece.
The Nanox.AI segment also achieved growth, adding new customers and partnerships. Notable collaborations included an agreement with Ezra, a healthcare AI company, to integrate Nanox.AI solutions into their medical screening processes. This partnership is expected to cater to the consumer healthcare market, providing imaging and early detection for preventive management.
In terms of research and development, Nano-X continued to pursue clinical trials and partnerships with OEMs to advance its technology. This included engagement with companies like Varex for the development of multisource modules in preparation for the market.
Ran Daniel reviewed the financials, noting a GAAP net loss of $14.1 million for Q4 2024, compared to a $10.2 million loss the previous year. Revenue for the period stood at $3.0 million, with a gross loss of $2.9 million on a GAAP basis. The company attributed revenue growth in teleradiology services to increased customer retention and higher service volumes, though they experienced fluctuations in AI solution revenues.
In summary, Nano-X focused on expansion efforts, regulatory achievements, and technological advancements to strengthen its presence in the medical imaging sector. The company’s strategic focus remains on commercializing its innovative solutions in the U.S. and Europe, supported by a growing network of distribution partners and clinical validation initiatives.
During the Q&A session, analysts inquired about distribution strategies, system deployments, pricing models in Europe, and the company’s financial outlook. Meltzer and Daniel provided insights into ongoing efforts to manage costs, expand market presence, and ensure sustainable growth.
