A Business at a Glance
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Item 4. Information on the Company A. History and Development of the Company NANO-X IMAGING LTD was incorporated under the laws of the State of Israel on December 20, 2018 and commenced operations on September 3, 2019. Substantially all of our assets at the time of commencement of our operations were acquired or assigned (the “Asset Purchase”) from our predecessor company, Nanox Imaging PLC (“Nanox Gibraltar”), a Gibraltar public company, under an Asset Purchase Agreement, dated as of September 3, 2019 and as amended on December 3, 2019 and December 31, 2019, between Nanox Gibraltar and us. On November 2, 2021, the Company completed the acquisition of 100% of the shares of USARAD Holdings, Inc., a Delaware corporation (“USARAD”), pursuant to the terms of the Stock Purchase Agreement, dated October 25, 2021 (the “USARAD SPA”), among the Company, USARAD, Dr. Michael Yuz, other holders of capital stock of USARAD and holders of USARAD options. USARAD is a U.S.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - |
| Net Income | -54M | -54M | -61M | -113M | -62M |
| EPS | $-0.91 | $-0.91 | $-1.08 | $-2.17 | $-1.28 |
| Free Cash Flow | -39M | -39M | -48M | -51M | -61M |
| ROIC | -27.4% | -27.4% | -30.5% | -51.4% | -20.9% |
| Gross Margin | - | - | - | - | - |
| Debt/Equity | 0.07 | 0.07 | 0.08 | 0.06 | 0.17 |
| Dividends/Share | $0.00 | - | - | - | - |
| Operating Income | -57M | -57M | -63M | -118M | -62M |
| Operating Margin | 0.0% | - | - | - | - |
| ROE | -28.3% | -27.8% | -31.1% | -52.3% | -21.2% |
| Shares Outstanding | 59M | 59M | 56M | 52M | 48M |
| Metric | 2021 | 2022 | TTM | ||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A | N/A |
| R&D | 17M | 27M | 26M | 20M | 20M |
| SG&A | 35M | 41M | 24M | 22M | 22M |
| EBIT | -62M | -118M | -63M | -57M | -57M |
| Op. Margin | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | -62M | -113M | -61M | -54M | -54M |
| Net Margin | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 51M | 7.4M | 7.4M | 7.4M |
| Returns on Capital | |||||
| ROIC | -20.9% | -51.4% | -30.5% | -27.4% | -27.4% |
| ROE | -21.2% | -52.3% | -31.1% | -27.8% | -28.3% |
| ROA | -17.0% | -44.6% | -27.8% | -25.0% | -25.5% |
| Cash Flow | |||||
| Op. Cash Flow | -38M | -43M | -45M | -37M | -37M |
| Free Cash Flow | -61M | -51M | -48M | -39M | -39M |
| Owner Earnings | -59M | -74M | -63M | -56M | -56M |
| CapEx | 23M | 7.2M | 3.3M | 2.8M | 2.8M |
| Maint. CapEx | 2.3M | 12M | 12M | 12M | 12M |
| Growth CapEx | 21M | 0 | 0 | 0 | 0 |
| D&A | 2.3M | 12M | 12M | 12M | 12M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | 0.0% | 0.0% | 0.0% | 0.0% |
| Stock-Based Comp | 19M | 19M | 6.8M | 7.3M | 7.3M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||
| Net Debt | -40M | -65M | -67M | -44M | -26M |
| Cash & Equiv. | 67M | 38M | 56M | 39M | 39M |
| Long-Term Debt | 3.8M | 3.5M | 3.5M | 3.1M | 3.1M |
| Debt/Equity | 0.17 | 0.06 | 0.08 | 0.07 | 0.07 |
| Interest Coverage | -213.7 | -149.2 | -37.9 | -19.8 | -19.8 |
| Equity | 292M | 217M | 196M | 189M | 189M |
| Total Assets | 363M | 254M | 219M | 210M | 210M |
| Total Liabilities | 71M | 37M | 23M | 21M | 21M |
| Intangibles | 102M | 91M | 81M | 70M | 70M |
| Retained Earnings | -146M | -259M | -320M | -374M | -374M |
| Working Capital | 42M | 57M | 73M | 65M | 65M |
| Current Assets | 95M | 82M | 89M | 79M | 79M |
| Current Liabilities | 53M | 25M | 16M | 14M | 14M |
| Per Share Data | |||||
| EPS | -1.28 | -2.17 | -1.08 | -0.91 | -0.91 |
| Owner EPS | -1.23 | -1.41 | -1.13 | -0.95 | -0.95 |
| Book Value | 6.05 | 4.15 | 3.47 | 3.22 | 3.22 |
| Cash Flow/Share | -0.79 | -0.83 | -0.80 | -0.62 | -0.71 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 48.3M | 52.2M | 56.3M | 58.8M | 58.8M |
| Valuation | |||||
| P/E Ratio | N/A | N/A | N/A | N/A | -2.7 |
| P/FCF | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 2.8 | N/A | N/A | N/A | 0.8 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | -7.4% | N/A | N/A | N/A | -27.1% |
| Market Cap | 828M | 0 | 0 | 0 | 145M |
| Avg. Price | 33.02 | 0.00 | 0.00 | 0.00 | 2.47 |
| Year-End Price | 15.99 | 0.00 | 0.00 | 0.00 | 2.47 |
Nano-X Imaging Ltd. passes 0 of 9 quality checks, indicating weak fundamentals.
Nano-X Imaging Ltd. (NNOX) has a 5-year average return on invested capital (ROIC) of -32.6%. This is below average and may indicate limited pricing power.
Nano-X Imaging Ltd. (NNOX) has a market capitalization of $145M. It is classified as a small-cap stock.
Nano-X Imaging Ltd. (NNOX) does not currently pay a regular dividend.
Nano-X Imaging Ltd. (NNOX) operates in the X-Ray Apparatus & Tubes & Related Irradiation Apparatus industry, within the Healthcare sector.
Nano-X Imaging Ltd. (NNOX) generated $-39 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Nano-X Imaging Ltd. (NNOX) has a debt-to-equity ratio of 0.07. This indicates a conservatively financed balance sheet.
Nano-X Imaging Ltd. (NNOX) reported earnings per share (EPS) of $-0.91 in its most recent fiscal year.
Nano-X Imaging Ltd. (NNOX) has a return on equity (ROE) of -27.8%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 4 years of financial data for Nano-X Imaging Ltd. (NNOX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Nano-X Imaging Ltd. (NNOX) has a book value per share of $3.22, based on its most recent annual SEC filing.
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