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Nanox raises going concern doubt as Q3 2026 cash drops to $26M

October 16, 2026 4:06 PM

Nano-X Imaging Ltd (NASDAQ: NNOX) disclosed preliminary unaudited financial data for the third quarter ended September 30, 2026, reporting an estimated revenue range of $4.3 million to $4.4 million, up from $3.4 million in the same period a year earlier.

Revenue from teleradiology services held steady at approximately $3.1 million in both periods. Revenue from AI and software solutions rose to $1.0 million from $0.1 million, a change the company attributed primarily to the consolidation of Vaso Healthcare IT Inc., now operating as Nanox Health IT Inc. Revenue from imaging systems and OEM services increased to approximately $0.3 million from $0.2 million, linked to an additional Nanox.ARC capital expenditure agreement.

Cash, cash equivalents, short-term deposits, and long-term restricted deposits fell to approximately $26.0 million as of September 30, 2026, compared with $60.0 million as of December 31, 2025. The company stated that this level of liquidity is not sufficient to support operations for at least one year from the date of the announcement, raising substantial doubt about its ability to continue as a going concern.

The company noted that if it is unable to raise additional funds, it may be required to delay, reduce, or eliminate product development or commercialization efforts, or grant rights to third parties for products it would otherwise develop itself.

On the business side, Nanox.AI entered a distribution agreement with Technologic s.r.l., an affiliate of Tecnologie Avanzate, to commercialize its Bone Solution in Italy. Separately, the company said its Nanox.ARC X was selected by Time magazine as one of its Best Inventions of 2026.

The preliminary figures are unaudited and subject to change upon completion of the company's financial close process, final adjustments, and independent auditor review. Final results will be reported in a subsequent press release.

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