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Nano-X Imaging Reports Wider Q1 Non-GAAP Loss

05/11/2021 03:44

07:41 AM EDT, 05/11/2021 (MT Newswires) -- Nano-X Imaging (NNOX) on Tuesday reported a Q1 non-GAAP loss of $0.15 per share, compared with a year-ago loss of $0.09 per share. The Capital IQ estimate for the quarter was a loss of $0.27 per share.

The medical imaging technology company said it ended the quarter with cash and cash equivalents of $219 million and no debt, according to a news release.

The company said it does not expect to meet its previously announced goal of shipping 1,000 multi-source Nanox units by the first quarter of 2022. This is due to delays with the original third-party supplier of the second-generation high-power ceramic tube, which were compounded by the COVID-19 pandemic, the company said.

Nanox is currently working with two alternative tube suppliers for the multi-source system.

The company said it expects to reach the target during 2022 if the multi-source Nanox.ARC is approved by the Food and Drug Administration and authorized by other similar regulatory agencies.

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