Nano‑X Imaging Ltd. (NASDAQ: NNOX) reported fourth‑quarter 2025 results that fell short of analyst expectations. Revenue reached $3.72 million, up 24% from $3.00 million a year earlier, but still $0.3 million below consensus estimates. The growth was driven by a $3.1 million increase in teleradiology revenue and a boost from AI and software services that followed the acquisition of Nanox Health IT in November 2025.
Net loss expanded to $33.37 million, a jump of $19.31 million from the $14.06 million loss reported a year earlier. The widening loss is largely attributable to a $17.5 million impairment charge related to the restructuring of the company’s Korean manufacturing facility. Basic loss per share was $0.50 versus $0.23 a year earlier, and the company’s GAAP gross loss margin stood at 97%, with a gross loss of $3.6 million for the quarter.
Operating cash burn for the quarter was $12.0 million, reflecting continued liquidity pressure as the company scales its ARC and AI platforms. For the full year 2025, operating cash burn totaled $40.8 million, underscoring the need for additional financing to support growth initiatives.
Management reiterated its 2026 guidance, maintaining a revenue target of $35 million for the full year and emphasizing accelerated deployment of cold‑cathode imaging systems and expansion of teleradiology services. The company also announced a CFO transition, with Ran Daniel stepping down and Guy Nathanzon appointed effective August 1 2026, adding a layer of uncertainty for investors.
Following the release, the market reacted negatively, with the stock falling roughly 17%. Investors cited the revenue and EPS miss, the widening net loss driven by the impairment charge, and the CFO transition as key factors behind the sharp decline.
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