NNOX - Nano-X surges 11% as teleradiology services revenue climbs in Q3
- Nano-X Imaging ( NASDAQ: NNOX ) stock rose ~11% on Thursday following its Q3 results .
- Q3 revenue grew to $2.44M, compared to $2.2M in Q2 2022. There was no revenue recorded in Q3 2021.
- In Q3, the company generated revenues through the sales of teleradiology services and AI solutions.
- "We continue to generate revenues from our AI and teleradiology businesses and advance toward the deployment of our Nanox.ARC multi-source imaging system," said Nano-X CEO Erez Meltzer.
- Net loss widened -$19.1M, compared to -$13.5 in Q3 2021. Nano-X said the increase in net loss was mainly due to the consolidation of Nanox.AI and USARAD with the company since Q4 2021, an increase in research and development, general and administrative expenses.
- Research and development were $6.1M compared to $3.7M in Q3 2021.
- At Q3 end, total cash, cash equivalents and marketable securities were $117.1M.
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Nano-X surges 11% as teleradiology services revenue climbs in Q3