Nano-X Imaging Ltd
nanox.visionWhat Do They Do?
Provides remote radiology readings and medical imaging technology, including artificial-intelligence software and healthcare information technology services, to hospitals, imaging centers and other healthcare providers.
20-F for FY2025, filed Apr 30, 2026The Nanox ecosystem includes Nanox.ARC, a cost-effective, 3D multi-source digital tomosynthesis imaging system designed for ease of use and…View ↗
The majority of the Company’s revenues are derived from radiology service fees received from various payors based on established billing…View ↗
On November 19, 2025, the Company completed the acquisition of 100% of the shares of Vaso Healthcare IT Corp., a Delaware corporation…View ↗
How Do They Make Money?
Hospitals and other healthcare providers pay fixed fees for completed radiology readings; the company invoices monthly for that month's work, with payment due upon receipt. Artificial-intelligence customers pay subscription fees over the contract term; in the United States, imaging systems are offered through usage-based service arrangements or equipment purchases.
20-F for FY2025, filed Apr 30, 2026The majority of the Company’s revenues are derived from radiology service fees received from various payors based on established billing…View ↗
Nanox AI derives most of its revenues from subscription revenues, which are comprised of subscription fees from customers accessing the…View ↗
For our business model in the U.S., we use a hybrid approach combining a usage-based MSaaS model with a CapEx Model to help promote…View ↗
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20-F for FY2025, filed Apr 30, 2026
FY2025 revenue by reportable segment ↗
$13M
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20-F for FY2025, filed Apr 30, 2026
$13M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Nanox ARC
Mix
|
3.7% |
Nanox ARC, FY2025
$478K Sources
|
Mix |
|
Radiology Services
Sold outright
20-F for FY2025, filed Apr 30, 2026 |
89%
FY2022: 96%
|
Radiology Services, FY2025
$11.6M Sources
|
Sold outright |
|
AI Solutions
Recurring
|
7.4%
FY2022: 4.0%
|
AI Solutions, FY2025
$958K Sources
|
Recurring |
Who Are Their Customers?
Hospitals and other healthcare providers buy radiology services directly; imaging-system sales are pursued through local partners in many countries and distributors or channel partners in the United States.
20-F for FY2025, filed Apr 30, 2026The majority of the Company’s revenues are derived from radiology service fees received from various payors based on established billing…View ↗
In most countries, other than the United States, we expect to primarily market through local partnerships with strong national branding and…View ↗
For our business model in the U.S., we use a hybrid approach combining a usage-based MSaaS model with a CapEx Model to help promote…View ↗
Do Revenues Turn Into Profits?
No. It lost $75M in FY2025.
20-F for FY2025, filed Apr 30, 2026
−$78.2MView ↗
20-F for FY2025, filed Apr 30, 2026
−$75MView ↗
20-F for FY2025, filed Apr 30, 2026
−$45MView ↗
How Are They Changing?
Growing. Revenue grew 10.0x in 4 years, from $1.3M in FY2021 to $13M in FY2025, about 78% a year.
Healthcare information technology
The earlier report centered its platform on imaging hardware, cloud software, artificial-intelligence solutions and teleradiology; the latest also includes healthcare information technology services for healthcare organizations.
20-F for FY2022, filed May 1, 2023 20-F for FY2025, filed Apr 30, 2026Early detection saves lives—and we at Nanox are focused on applying our proprietary medical imaging technology and solutions to make…View ↗
Nanox.MARKETPLACE. Nanox.MARKETPLACE (formerly known as the MDW platform), which we acquired from MDWEB in November 2021, is our…View ↗
AI Imaging Solutions. Following our acquisition of Zebra, renamed Nanox AI, in November 2021, we offer FDA cleared AI-based software…View ↗
On November 19, 2025, the Company completed the acquisition of 100% of the shares of Vaso Healthcare IT Corp., a Delaware corporation…View ↗
Nanox Health IT’s capabilities include healthcare systems integration, workflow optimization, data migration, user training and nationwide…View ↗
The Nanox ecosystem includes Nanox.ARC, a cost-effective, 3D multi-source digital tomosynthesis imaging system designed for ease of use and…View ↗
Who Do They Compete With?
Competes with GE HealthCare, Siemens Healthineers, Philips, Canon, Fujifilm, Samsung, Shimadzu, Agfa, Mindray, Carestream, Adaptix, Micro-X, Oxos, UPI Healthcare Solutions, StatRad, ONRAD, and vRad
20-F for FY2025, filed Apr 30, 2026The medical imaging equipment market in which we operate is highly competitive and includes a range of established multinational…View ↗
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