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Gus Iversen, Editor in Chief | July 01, 2026
Nanox reported first-quarter 2026 revenue of $4.3 million, up from $2.8 million a year earlier, while withdrawing its previously issued 2026 revenue target, citing slower-than-expected commercialization and deployment timelines.
The Israel-based medical imaging company said revenue came from its teleradiology business, imaging system sales and deployments, and AI and software offerings. Teleradiology generated $3.1 million in revenue, while AI and software contributed $1 million. Sales and deployment of imaging systems and OEM services totaled $167,000.
The company posted a net loss of $14.3 million for the quarter ended March 31, compared with a $13.2 million loss in the same period last year. Cash, cash equivalents, and deposits totaled $44.2 million at quarter end, down from $60 million at the end of 2025. Nanox said its current cash position is not sufficient to fund operations for at least the next year under its existing operating plan and that it is pursuing additional financing while evaluating cost-saving measures.
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Operationally, Nanox said U.S. commercial partners have begun generating sales opportunities, scan utilization has increased at deployed Nanox.ARC systems, and installations have started under its Nanox Imaging Network initiative. The company also said a Nanox.ARC system is now being used commercially at a RadNet outpatient imaging center and that its collaboration with Cedars-Sinai on an AI-enabled cardiac imaging solution continues.
Nanox said approximately 40 systems are in various stages of deployment, including commercial, clinical and demonstration sites, with about 21 additional installations planned as part of the Nanox Imaging Network proof-of-concept program. The company also referenced recently announced U.S. distribution agreements covering approximately 360 capital equipment systems over the next two to three years, although it noted that revenue will depend on deployments, regulatory approvals, customer readiness and partner execution.
Separately, Nanox said it is evaluating broader restructuring measures for its South Korea operations, including a potential sale or wind-down. The company also disclosed that a securities class action lawsuit was filed in June related to disclosures concerning its Korea manufacturing operations.
