NNOX - Nano-X Imaging gains the most in a year after Q4 topline beat

The shares of Nano-X Imaging (NNOX +15.1%) are trading sharply higher on Thursday to record the biggest intraday gain since January 2021 after the Israel-based healthcare equipment maker reported better than expected revenue for 4Q 2021. From zero revenue in the previous quarters, 4Q revenue for the year reached $1.3M, driven by sales of radiology services and the sales of AI solutions following the merger with NANO-X AI Ltd and two acquisitions. However, 4Q net loss jumped ~16% YoY to $1.5M mainly due to M&A-related expenses, while R&D expenses more than doubled to $6.4M. Cash and cash equivalents fell ~69% from the previous year-end to $88.7M on Dec. 31, 2021. “We have made considerable headway towards commercialization over the past year and are pleased that our previously announced strategic transactions have begun generating revenue,” Nano-X (NASDAQ:NNOX) Chief Executive Erez Meltzer remarked. Go through the company’s historic financial data.

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Nano-X Imaging gains the most in a year after Q4 topline beat