PETACH TIKVA, Israel, June 25, 2026 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD (NASDAQ: NNOX) (“ Nanox ” or the “ Company ”), an innovative medical imaging technology company, today announced results for the first quarter ended March 31, 2026, and provided a business update. Recent Highlights: Generated $4.3 million in revenue in the first quarter of 2026, compared to $2.8 million in the first quarter of 2025. U.S. commercial partners began contributing sales leads and pipeline opportunities as the Company advanced execution of previously announced agreements. Increased scans utilization of deployed Nanox.ARC systems Initiated placing Nanox.ARC systems through the Nanox Imaging Network. A Nanox.ARC system has been operational for several months at a RadNet site. RadNet is the largest outpatient imaging center operator in the United States and has deployed a Nanox.ARC system at one of its facilities, where it is now in commercial use and integrated into routine clinical workflow. Continued advancement of the Cedars-Sinai collaboration supporting clinical validation and commercialization efforts for the Company’s AI-enabled cardiac solution. “To date, we are beginning to see revenue and increased scan utilization from the Nanox.ARC. ” said Erez Meltzer, Chief Executive Officer and Acting Chairman. “We’ve altered our approach to emphasize partnerships, prioritize deployments at high-visibility reference sites like RadNet, and began taking efficiency steps to improve our cost structure. While changing the standard of care in medical imaging takes time, we believe these adjustments position us more effectively for sustainable growth and to capitalize on the potential of Nanox.ARC. That said, the pace of commercialization will continue to depend on a range of factors, including market adoption, customer demand, site readiness, construction timelines, regulatory approvals, and the performance of our partners.” Detailed financial results for three months ended March 31, 2026 For the three months ended March 31, 2026 (the “Reported Period”), the Company reported revenue of $4.3 million in the Reported Period, compared to $2.8 million in the Comparable Period. During the Reported Period, the Company generated revenue through teleradiology services, the sale and deployment of its imaging systems and its AI and software solutions. The Company’s gross loss during the Reported Period totaled $2.6 million (gross loss margin of (60%)) on a GAAP basis, as compared to $3.0 million (gross loss margin of (108%)) in the Comparable Period. Non-GAAP gross loss for the Reported Period was $0.2 million (gross loss margin of approximately 4%), as compared to gross loss of $0.4 million (gross loss margin of approximately 15%) in the Comparable Period. The Company’s revenue from teleradiology services for the Reported Period was $3.1 million, compared to revenue of $2.6 million in the Comparable Period. The Company’s GAAP gross profit from teleradiology services for the Reported Period was $0.7 million (gross profit margin of approximately 24%), as compared to $0.4 million (gross profit margin of approximately 17%) in the Comparable Period. Non-GAAP gross profit of the Company’s teleradiology services for the Reported Period was $1.1 million (gross profit margin of approximately 36%) as compared to $1.0 million (gross profit margin of approximately 39%) in the Comparable Period. The increase in the Company’s revenue from teleradiology services was mainly attributable to customer retention, increased rates and increased volume of the Company’s teleradiology reading services during weekdays shifts. During the Reported Period, the Company generated revenue through the sales and deployment of its imaging systems and OEM services which amounted to $167 thousand for the Reported Period, with a gross loss of $1.6 million on a GAAP and a non-GAAP basis, compared to revenue of $33 thousand with a gross loss of $1.6 million on a GAAP basis and $1.5 million on a Non-GAAP basis in the Comparable Period. The revenue stems from the sale and deployment of two Nanox Connect units in the amount of $118 thousand, deployment of its imaging systems in the amount of $11 thousand and the revenue due to our OEM services in in the amount of $38 thousand. The Company’s revenue from its AI and software solutions for the Reported Period was $1 million with a gross loss of $1.7 million on a GAAP basis, compared to revenue of $0.2 million with a gross loss of $1.9 million in the Comparable Period. Non-GAAP gross profit of the Company’s AI solutions for the Reported Period was $274 thousand, compared to Non-GAAP gross profit of $81 thousand in the Comparable Period. Included in the reported period, revenue of $0.9 million that was generated by Nanox Health IT Inc. Research and development expenses, net, for the Reported Period were $4.8 million, compared to $5.0 million in the Comparable Period, reflecting a decrease of $0.2 million. The decrease was mainly due to a d