$NNOX

Nano-X Imaging Ltd.

CIK:0001795251|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
REVENUE	$ 13,021	$ 11,283	$ 9,905
COST OF REVENUE	25,809	21,892	16,497
GROSS LOSS	(12,788)	(10,609)	(6,592)
OPERATING EXPENSES:
Research and development, net	19,236	20,182	26,049
Sales and Marketing	5,665	3,410	4,168
General and administrative	21,587	22,455	24,272
Goodwill impairment			7,420
Change in contingent earnout liability	7		(4,488)
Impairment of long-lived assets	17,528
Other expenses (income)	1,423	90	(1,424)
TOTAL OPERATING EXPENSES	65,446	46,137	55,997
OPERATING LOSS	(78,234)	(56,746)	(62,589)
REALIZED INCOME (LOSS) FROM SALE OF MARKETABLE SECURITIES		2	(178)
FINANCIAL INCOME, net	1,424	2,870	1,652
OPERATING LOSS BEFORE INCOME TAXES	(76,810)	(53,874)	(61,115)
INCOME TAX BENEFIT	1,792	358	339
NET LOSS	$ (75,018)	$ (53,516)	$ (60,776)
BASIC LOSS PER SHARE (in Dollars per share)	$ (1.16)	$ (0.91)	$ (1.08)
DILUTED LOSS PER SHARE (in Dollars per share)	$ (1.16)	$ (0.91)	$ (1.08)
WEIGHTED AVERAGE NUMBER OF BASIC ORDINARY SHARES OUTSTANDING (IN THOUSANDS) (in Shares)	64,790	58,673	56,368
WEIGHTED AVERAGE NUMBER OF DILUTED ORDINARY SHARES OUTSTANDING (IN THOUSANDS) (in Shares)	64,790	58,673	56,368
NET LOSS	$ (75,018)	$ (53,516)	$ (60,776)
Reclassification of net losses (income) realized in income statement		(2)	178
Unrealized gain from marketable securities	1	306	1,491
Total other comprehensive income:	1	304	1,669
TOTAL COMPREHENSIVE LOSS	$ (75,017)	$ (53,212)	$ (59,107)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss for the year	$ (75,018)	$ (53,516)	$ (60,776)
Adjustments required to reconcile net loss to net cash used in operating activities:
Share-based compensation	4,190	7,261	6,838
Amortization of intangible assets	10,508	10,612	10,612
Impairment of long-lived assets	17,528
Impairment of goodwill			7,420
Change in contingent earnout liability	7		(4,488)
Depreciation	1,189	1,121	1,198
Deferred tax liability, net	(1,976)	(377)	(377)
Realized loss (income) from sale of marketable securities		(2)	178
Exchange rate differentials	153	(512)	69
Amortization of premium, discount and accrued interest on marketable securities	108	(260)	735
Interest of short-term deposits	(459)
Loss from disposal of property and equipment	207	202	1,297
Changes in operating assets and liabilities, net of effects of businesses acquired:
Change in inventories	(325)	(277)
Accounts receivable, net	107	(321)	(507)
Prepaid expenses and other current assets	409	190	1,940
Other non-current assets	29	218	(251)
Accounts payable	288	(1,316)	(153)
Accrued expenses and other liabilities	1,182	490	(8,956)
Operating lease assets and liabilities	655	209	352
Deferred revenue	130	(403)	(37)
Other long-term liabilities	295	83	129
Net cash used in operating activities	(40,793)	(36,598)	(44,777)
CASH FLOWS FROM INVESTING ACTIVITIES:
Release of (investment in) restricted deposits		46	(373)
Cash paid for business combinations (see note 3)	(200)
Proceeds from maturity of marketable securities	18,295	41,187	38,287
Purchase of marketable securities		(33,017)
Proceeds from sale of marketable securities			822
Investment in short-term deposits		(15,500)
Maturity of short-term deposits	15,500
Investment in long-term deposits		(10,000)
Investment in SAFE	(15)
Purchase of property and equipment	(4,207)	(2,767)	(3,303)
Net cash provided by (used in) investing activities	29,373	(20,051)	35,433
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of ordinary shares and warrants, net of issuance costs	21,205	37,834	27,139
Payment due to settlement of contingent earnout liabilities			(790)
Proceeds from issuance of ordinary shares upon exercise of options	163	1,670	903
Net cash provided by financing activities	21,368	39,504	27,252
EFFECT OF CHANGES IN EXCHANGE RATES ON CASH AND CASH EQUIVALENTS	(101)	72	(60)
NET CHANGE IN CASH AND CASH EQUIVALENTS	9,847	(17,073)	17,848
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR	39,304	56,377	38,529
CASH AND CASH EQUIVALENTS AT END OF THE YEAR	49,151	39,304	56,377
SUPPLEMENTARY INFORMATION ON ACTIVITIES INVOLVING CASH FLOWS:
Cash paid for income taxes	184	53	3
Cash paid for interest	132	140	149
SUPPLEMENTARY INFORMATION ON ACTIVITIES NOT INVOLVING CASH FLOWS:
Contingent earnout liability recognized in connection with a business combination	470
Issuance of ordinary shares in connection with earnout liability			1,561
Reclassification of earn-out liability to equity			1,500
Non-cash purchase of property and equipment	74	223
Operating lease liabilities arising from obtaining operating right-of use assets	$ 131		$ 4,411

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 49,151	$ 39,304
Short-term deposits	10,459	15,500
Marketable securities		18,402
Accounts receivables net of allowance for credit losses of $367 and $112 as of December 31, 2025, and December 31, 2024, respectively.	2,013	1,805
Inventories	3,070	1,493
Prepaid expenses	1,255	827
Other current assets	845	1,349
TOTAL CURRENT ASSETS	66,793	78,680
NON-CURRENT ASSETS:
Restricted deposits	361	337
Long-term deposits		10,000
Property and equipment, net	29,677	45,355
Goodwill	316
Operating lease right-of-use asset	3,518	3,843
Intangible assets	59,868	69,995
Other non-current assets	1,632	1,792
TOTAL NON-CURRENT ASSETS	95,372	131,322
TOTAL ASSETS	162,165	210,002
CURRENT LIABILITIES:
Short-term loan	3,136	3,061
Accounts payable	2,886	2,209
Accrued expenses	4,224	3,968
Deferred revenue	534	140
Contingent short-term earnout liability	304
Current maturities of operating lease liabilities	950	745
Other current liabilities	4,854	3,849
TOTAL CURRENT LIABILITIES	16,888	13,972
NON-CURRENT LIABILITIES:
Non-current operating lease liabilities	3,765	3,640
Non-current deferred revenue	17
Contingent long-term earnout liability	173
Deferred tax liability	600	2,576
Other long-term liabilities	990	695
TOTAL NON-CURRENT LIABILITIES	5,545	6,911
TOTAL LIABILITIES	22,433	20,883
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Ordinary Shares, par value NIS 0.01 per share 100,000,000 authorized at December 31, 2025 and December 31 2024, 69,590,228 and 63,762,001 issued and outstanding at December 31, 2025 and December 31, 2024, respectively	198	181
Additional paid-in capital	588,301	562,688
Accumulated other comprehensive loss		(1)
Accumulated deficit	(448,767)	(373,749)
TOTAL SHAREHOLDERS’ EQUITY	139,732	189,119
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 162,165	$ 210,002