Nanox reports increases in revenue, net loss in Q2

2020 06 18 19 14 2283 Graph Financial Results Bar Chart 400

Digital x-ray developer Nanox produced over $2 million in revenue the second quarter of 2022, although its net loss also rose considerably over the same period in 2021.

For the second quarter (end-June 30), Nanox had revenue of $2.2 million, compared with no revenue during the same period in 2021 and $1.8 million in the first quarter of 2022. Revenues were generated through the sales of radiology services and artificial intelligence (AI) platforms, according to the vendor.

Nanox had a net loss of $19.6 million, compared with a net loss of $13.6 million in the same period last year. The company attributed the higher loss largely to expenses related to the acquisition of the MDWeb market platform, the consolidation of Nanox.AI and USARad, and increases in the company's research and development expenses, goodwill impairment, and general and administrative expenses.

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