Nano-X Imaging Earnings Falls Short by $0.4m Despite 12.7% Increase in Q4 Earnings

Photo of author
Written By Kris Enyinnaya

Nano-X Imaging’s Q4 earnings report surfaced with mixed reactions, as the company’s revenue of $2.4 million in the fourth quarter marked a 12.7% year-on-year increase but fell short of consensus estimates by $0.4 million.

This slight miss was coupled with a quarterly loss of $0.18 per share, culminating in a total loss of $1.08 per share for 2023.

While these figures might initially paint a bleak picture, a deeper dive into the company’s operational updates reveals a narrative of potential and progress, especially in the deployment of its Nanox.ARC systems across the United States.

Read More: This Company Has a Strong Dividend Yield – But Is It Sustainable?

Unpacking Nano-X’s Operational Highlights

Nano-X’s announcement of deploying multiple Nanox.ARC systems in five U.S. states and beginning patient scans signify a pivotal development.

This expansion into New Jersey, New York, Florida, Kansas, and Georgia, particularly with the establishment of a technical and training center in Georgia, showcases Nano-X’s tangible steps toward operationalizing its service-based (SaaS) business model.

Credits: DepositPhotos

With scans priced at approximately $30 and an average of seven scans conducted daily, Nano-X has started to validate its financial model in a real-world setting.

Furthermore, the company’s progress isn’t confined to the U.S. market alone. With installations in Africa and a new multi-site agreement in Ghana, alongside strategic moves in Latin America, Nano-X is broadening its global footprint.

This international expansion is a testament to Nano-X’s commitment to deploying its innovative imaging technology worldwide, marking a significant stride in the company’s growth narrative.

Addressing Financial and Operational Challenges

Despite these operational milestones, Nano-X’s journey is not without its hurdles. The deployment of fewer than ten systems globally indicates that the company is still far from achieving commercial scale.

Questions linger around the mass production of scanners, cost details, maintenance requirements, and the overall feasibility of the SaaS model given the initial capital investment needed.

With $72 million in cash and marketable securities and ongoing quarterly losses, Nano-X’s financial runway is under scrutiny. The suggestion to engage with an investment bank to raise capital could be a strategic move to alleviate financial constraints and accelerate system deployments.

Also Read: Some Analysts are Bullish on DraftKings – Should You Be?

The NVIDIA Connection

An intriguing aspect of Nano-X’s story is the surge in investor interest following a disclosure by NVIDIA Corporation of a small indirect stake in Nano-X.

This development, although resulting from an acquisition, sparked a notable increase in Nano-X’s share price, highlighting the market’s responsive sentiment to strategic alignments and the potential for future collaborations.

Cautious Optimism with a Need for Clarity

In summary, Nano-X Imaging’s recent earnings report and business updates shed light on a company at a critical juncture. The deployment of Nanox.ARC systems in the U.S. and beyond addresses previous concerns about the company’s ability to transition from concept to execution.

Credits: DepositPhotos

However, significant financial and operational questions remain, necessitating clear strategies and transparency from the company to achieve commercial scale and sustainable profitability.

As Nano-X continues to navigate all these challenges and capitalize on its strategic initiatives, the investment community remains watchful.

Read Next: A Reassessment of Central Puerto’s Journey Amidst Regulatory Uncertainty


You should read and understand this disclaimer in its entirety before joining or viewing the website or email/blog list of (the “Publisher”). The information (collectively the “Advertisement”) disseminated by email, text or other method by the Publisher including this publication is a paid commercial advertisement and should not be relied upon for making an investment decision or any other purpose. The Publisher is engaged in the business of marketing and advertising the securities of publicly traded companies in exchange for compensation. The track record, gains, upside, and/or losses mentioned in the Advertisement, if any, should not be considered as true or accurate or be the basis for an investment. The Publisher does not verify the accuracy or completeness of any information included in the Advertisement. While the Publisher does not charge for the SMS service, standard carrier message and data rates may apply. To unsubscribe from receiving promotional text messages to your phone sent via an autodialer, using your phone reply to the sender’s phone number with the word STOP or HELP for help.

The Advertisement is not a solicitation or recommendation to buy securities of the advertised company. An offer to buy or sell securities can be made only by a disclosure document that complies with applicable securities laws and only in the states or other jurisdictions in which the security is eligible for sale. The Advertisement is not a disclosure document. The Advertisement is only a favorable snapshot of unverified information about the advertised company. An investor considering purchasing the securities, should always do so only with the assistance of his legal, tax and investment advisors. Investors should review with his or her investment advisor, tax advisor or attorney, if and to the extent available, any information concerning a potential investment at the web sites of the U.S. Securities and Exchange Commission (the "SEC") at; the Financial Industry Regulatory Authority (the "FINRA") at, and relevant State Securities Administrator website and the OTC Markets website at The Publisher cautions investors to read the SEC advisory to investors concerning Internet Stock Fraud at, as well as related information published by the FINRA on how to invest carefully. Investors are responsible for verifying all information in the Advertisement. As an advertiser, we do not verify any information we publish. The Advertisement should not be considered true or complete.

The Publisher does not offer investment advice or analysis, and the Publisher further urges you to consult your own independent tax, business, financial and investment advisors concerning any investment you make in securities particularly those quoted on the OTC Markets. Investing in securities is highly speculative and carries an extremely high degree of risk. You could lose your entire investment if you invest in any company mentioned in the Advertisement. You acknowledge that we are not an investment advisory service, a broker-dealer or an investment adviser and we are not qualified to act as such. You acknowledge that you will consult with your own independent, tax, financial and/or legal advisers regarding any decisions as to any company mentioned here. We have not determined if the Advertisement is accurate, correct or truthful. The Advertisement is compiled from publicly available information, which include, but are not limited to, no cost online research, magazines, newspapers, reports filed with the SEC or information furnished by way of press releases. Because all information relied upon by us in preparing an advertisement about an issuer comes from a public source, it is not reliable, and you should not assume it is accurate or complete.

By your subscription to our profiles, the viewing of this profile and/or use of our website, you have agreed and acknowledged the terms of our full disclaimer and privacy policy which can be viewed at the following link: and

By accepting the Advertisement, you agree and acknowledge that any hyperlinks to the website of (1) a client company, (2) the party issuing or preparing the information for the company, or (3) other information contained in the Advertisement is provided only for your reference and convenience. The advertiser is not responsible for the accuracy or reliability of these external sites, nor is it responsible for the content, opinions, products or other materials on external sites or information sources. If you use, act upon or make decisions in reliance on information contained in any disseminated report/release or any hyperlink, you do so at your own risk and agree to hold us, our officers, directors, shareholders, affiliates and agents harmless. You acknowledge that you are not relying on the Publisher, and we are not liable for, any actions taken by you based on any information contained in any disseminated email or hyperlink.