Revenue growth was driven primarily by consolidation of the Nanox Health IT business, which contributed $0.9 million in the quarter.
The company also undertook restructuring of Korea operations, including workforce reduction and transition of chip manufacturing to third parties, which it expects to reduce costs in 2027.
Nano-X expects its Korea restructuring to generate annual cost savings of $2 million starting in 2027. The company said it plans to continue raising funds to support operations and strengthen its balance sheet.
It is also pursuing a potential new CMS reimbursement pathway to support broader adoption.
The company recorded a $40.7 million impairment charge related to its AI solutions business unit. Nano-X said the charge was triggered by a decline in its share price and reduced revenue forecasts.
Israel's Nano-X Imaging said second-quarter revenue grew 37% year over year but missed analyst expectations. Adjusted net loss for the quarter also missed analyst expectations.
| Metric | Beat/Miss | Actual |
|---|
| Consensus Estimate |
|---|
| Q2 Revenue | Miss | $4.20 mln | $5.39 mln (3 Analysts) |
| Q2 Adjusted Net Loss | Miss | $11.60 mln | $11.13 mln (3 Analysts) |
| Q2 Net Loss | $55.50 mln |
