Summary by Moomoo AI
Nanox Imaging reported Q3 2024 revenue of $3.0 million, up from $2.5 million in Q3 2023. Net loss narrowed to $13.6 million from $21.4 million year-over-year, primarily due to lower impairment expenses. The company continued expanding its US sales and support teams, deploying dozens of Nanox.ARC units globally.Nanox.AI business growth continued, signing new distribution agreements and extending existing ones. A multi-site clinical trial for Nanox.ARC is ongoing in Israel and Ghana. The company is working with regulators on approvals for full body scanning and CE Mark designation.As of September 30, 2024, Nanox had $57.1 million in cash and securities, down from $82.8 million at 2023 year-end. The decrease was mainly due to $26.1 million negative cash flow from operations. Management expressed confidence in the company's future and commercial momentum heading into 2025.
