Nano-X Imaging Ltd.
NNOX Nasdaq X-Ray Apparatus & Tubes & Related Irradiation Apparatus Financials FY2018โFY2025
What Nano-X Imaging Ltd. does
No business description yet.
- Legal name
- Nano-X Imaging Ltd.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F ยท Apr 30, 2026
- Accession ยท CIK
- 0001213900-26-050191
0001795251
Revenue and margins
Nano-X Imaging Ltd. had $13.0M of revenue in fiscal 2025, up 15.4% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was โ$45.0M in fiscal 2025, โ345.6% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Nano-X Imaging Ltd. returned โ to shareholders in fiscal 2025. The diluted share count rose 10.4%.
Balance sheet
Cash, debt and the ratios that show how comfortably Nano-X Imaging Ltd. can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $88.7M | $77.6M | $82.4M | $57.7M | $49.2M |
| Debt incl. finance leases | $0.1M | $3.5M | $3.5M | $6.1M | $3.1M |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Current ratio | 1.8x | 3.3x | 5.7x | 5.6x | 4.0x |
| Quick ratio | 1.8x | 3.3x | 5.6x | 5.5x | 3.8x |
| Total assets | $363M | $254M | $219M | $210M | $162M |
| Total liabilities | $71.0M | $37.3M | $23.1M | $20.9M | $22.4M |
| Shareholders' equity | $292M | $217M | $196M | $189M | $140M |
| Net debt (โ = net cash) | โ$88.6M | โ$74.1M | โ$78.9M | โ$51.6M | โ$46.0M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 4 | โ / 6 | โ / 5 | 4 / 8 | 6 / 9 | 3 / 9 | 3 / 9 |
| Accruals ratio | โ | โ143.5% | โ17.9% | โ7.9% | โ22.6% | โ6.8% | โ7.9% | โ18.4% |
| Altman Z'' | โ | โ30.25 | 48.41 | 2.63 | 1.14 | 4.37 | 3.91 | โ3.70 |
8 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | โ | โ | โ | $1.3M | $8.6M | $9.9M | $11.3M | $13.0M |
| Gross profit | โ | โ | โ | โ$1.5M | โ$6.9M | โ$6.6M | โ$10.6M | โ$12.8M |
| Research and development | $0.7M | $2.7M | $9.2M | $17.1M | $26.5M | $26.0M | $20.2M | $19.2M |
| Operating income | โ$1.9M | โ$22.6M | โ$43.9M | โ$61.6M | โ$118M | โ$62.6M | โ$56.7M | โ$78.2M |
| Pretax income | โ | โ$22.6M | โ$43.8M | โ$61.8M | โ$117M | โ$61.1M | โ$53.9M | โ$76.8M |
| Income tax | โ | โ | โ | โ$0.0M | โ$3.7M | โ$0.3M | โ$0.4M | โ$1.8M |
| Net income | โ$1.9M | โ$22.6M | โ$43.8M | โ$61.8M | โ$113M | โ$60.8M | โ$53.5M | โ$75.0M |
| Net income to common | โ | $22.6M | $43.8M | $61.8M | $113M | โ | โ | โ |
| Diluted EPS | โ$0.09 | โ$0.90 | โ$1.23 | โ$1.28 | โ$2.17 | โ$1.08 | โ$0.91 | โ$1.16 |
| Diluted shares | 0.02B | 0.03B | 0.04B | โ | 0.05B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||||||
| Cash from operations | โ$3.7M | โ$5.5M | โ$21.6M | โ$38.1M | โ$43.4M | โ$44.8M | โ$36.6M | โ$40.8M |
| Capital expenditure | $0.1M | $0.1M | $13.9M | $23.2M | $7.2M | $3.3M | $2.8M | $4.2M |
| Free cash flow | โ$3.7M | โ$5.6M | โ$35.5M | โ$61.2M | โ$50.6M | โ$48.1M | โ$39.4M | โ$45.0M |
| Depreciation and amortization | $0.0M | $0.1M | $0.2M | $0.5M | $0.9M | $1.2M | $1.1M | $1.2M |
| Stock-based compensation | $0.1M | $16.2M | $24.8M | $18.8M | $18.6M | $6.8M | $7.3M | $4.2M |
| Acquisitions | โ | โ | โ | $2.9M | โ | โ | โ | $0.2M |
| Balance sheet | ||||||||
| Cash and short-term investments | $0.0M | $8.1M | $213M | $88.7M | $77.6M | $82.4M | $57.7M | $49.2M |
| Total debt | โ | โ | โ | $0.1M | $3.5M | $3.5M | $6.1M | $3.1M |
| Current assets | โ | $9.6M | $220M | $94.9M | $82.5M | $88.6M | $78.7M | $66.8M |
| Current liabilities | โ | $20.3M | $4.5M | $52.8M | $25.1M | $15.5M | $14.0M | $16.9M |
| Inventory | โ | โ | โ | $0.1M | โ | $2.4M | $1.5M | $3.1M |
| Property and equipment, net | โ | $0.2M | $14.0M | $37.4M | $43.5M | $42.3M | $45.4M | $29.7M |
| Goodwill | โ | โ | โ | $58.3M | $7.4M | โ | โ | $0.3M |
| Intangible assets | โ | โ | โ | $102M | $91.2M | $80.6M | $70.0M | $59.9M |
| Total assets | โ | $11.9M | $236M | $363M | $254M | $219M | $210M | $162M |
| Total liabilities | โ | $20.6M | $5.4M | $71.0M | $37.3M | $23.1M | $20.9M | $22.4M |
| Shareholders' equity | โ$6.4M | โ$8.8M | $231M | $292M | $217M | $196M | $189M | $140M |
| Margins | ||||||||
| Gross margin | โ | โ | โ | โ116.0% | โ80.2% | โ66.6% | โ94.0% | โ98.2% |
| Operating margin | โ | โ | โ | โ4,720.7% | โ1,372.2% | โ631.9% | โ502.9% | โ600.8% |
| EBITDA margin | โ | โ | โ | โ4,680.5% | โ1,361.7% | โ619.8% | โ493.0% | โ591.7% |
| Net margin | โ | โ | โ | โ4,739.1% | โ1,320.2% | โ613.6% | โ474.3% | โ576.1% |
| FCF margin | โ | โ | โ | โ4,694.7% | โ589.4% | โ485.4% | โ348.9% | โ345.6% |
| Returns | ||||||||
| Return on capital | โ | โ | โ | โ23.9% | โ65.2% | โ42.4% | โ32.6% | โ65.9% |
| Return on capital employed | โ | 269.0% | โ19.0% | โ19.8% | โ51.4% | โ30.8% | โ28.9% | โ53.9% |
| Return on equity | โ | โ | โ39.5% | โ23.6% | โ44.5% | โ29.5% | โ27.8% | โ45.6% |
| Return on assets | โ | โ190.1% | โ35.3% | โ20.6% | โ36.7% | โ25.7% | โ25.0% | โ40.3% |
| Return on tangible equity | โ | โ | 19.0% | 46.8% | 95.9% | โ52.9% | โ44.9% | โ94.3% |
| Growth | ||||||||
| Revenue growth | โ | โ | โ | โ | 557.8% | 15.5% | 13.9% | 15.4% |
| Share count change | โ | 21.1% | 41.6% | โ | โ | โ99.9% | 4.1% | 10.4% |
| Financial health | ||||||||
| Debt / equity | โ | โ | โ | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Current ratio | โ | 0.5x | 49.1x | 1.8x | 3.3x | 5.7x | 5.6x | 4.0x |
| Quick ratio | โ | 0.5x | 49.1x | 1.8x | 3.3x | 5.6x | 5.5x | 3.8x |
| Capital allocation | ||||||||
| Capex / revenue | โ | โ | โ | 1,775.9% | 83.6% | 33.3% | 24.5% | 32.3% |
| Stock comp / revenue | โ | โ | โ | 1,442.2% | 217.1% | 69.0% | 64.4% | 32.2% |
| Quality scores | ||||||||
| Piotroski F-score | โ | โ | โ | โ | 4.0 | 6.0 | 3.0 | 3.0 |
| Altman Z'' | โ | โ30.2 | 48.4 | 2.6 | 1.1 | 4.4 | 3.9 | โ3.7 |
| Accruals ratio | โ | โ143.5% | โ17.9% | โ7.9% | โ22.6% | โ6.8% | โ7.9% | โ18.4% |
Source: SEC EDGAR XBRL filings (CIK 0001795251). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.
