NANO-X Imaging Ltd. (NASDAQ: NNOX) has released its financial results for the first quarter ending March 31, 2025. The company reported a revenue of $2.8 million, an increase from $2.6 million in the same period of 2024. The revenue increase was driven by sales from teleradiology services, the sale and deployment of imaging systems, and AI solutions. The company experienced a net loss of $13.2 million this quarter, up from a $12.2 million net loss in the first quarter of 2024. This increase in net loss is attributed to a $1.0 million increase in gross loss. During the quarter, NANO-X Imaging Ltd. generated $33 thousand from the sales and deployment of its imaging systems, with a gross loss of $1.6 million on a GAAP basis, compared to $48 thousand in revenue and a gross loss of $0.4 million in the comparable period. The revenue from AI solutions reached $0.2 million, with a gross loss of $1.9 million on a GAAP basis, compared to $97 thousand in revenue and a gross loss of $2.0 million in the previous year. Significant business updates include receiving 510(k) clearance from the FDA for the Nanox.ARC X, an updated multi-source digital Tomosynthesis system, and signing multiple commercial agreements to market the Nanox.ARC and Nanox.AI solutions. The company expects to grow the number of clinical, demo, and commercial units in deployment to over 100 units worldwide by the end of 2025, assuming stable macroeconomic conditions.
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