Radiology vendor Nanox worries it may run out of cash
Radiology vendor Nanox Imaging is expressing concern that it may run out of cash within the next year.
The publicly traded, Israel-based device manufacturer on Friday announced preliminary results from the third quarter, ending Sept. 30. As of that date, Nanox's cash, equivalents and other short-term deposits were about $26 million, as compared to the $60 million held at the end of 2025.
Nanox believes these numbers are “not sufficient to support the company’s operations” under current operating plans for at least one year.
“The company expects to continue to incur significant costs related to its ongoing operations,” Nanox said in a news release issued on Oct. 16. “These factors raise substantial doubt as to the company’s ability to continue as a going concern,” it added later.
Nanox previously expressed concern about its financial viability back in June and also recently disclosed that it’s at risk of being delisted from the Nasdaq, due to these troubles. The company—which has developed a commercial grade, tomographic imaging device with a digital X-ray source—continues to be hampered by factors such as manufacturing site readiness, construction and infrastructure completion, and regulatory hurdles. It also recently was sued by investors, who claim the company has made false and misleading claims about its business.
According to preliminary unaudited financial results, Nanox expects to notch revenues of up to $4.4 million for Q3 compared to $3.4 million the same period last year. Much of that money was generated through teleradiology acquisition USARad, which earned revenue of about $3.1 million in Q3. Meanwhile, Nanox made only about $0.3 million from the sale and deployment of its core imaging systems and other OEM services. This compared to about $0.2 million in Q3 of 2025. It also earned another $1 million from AI and software solutions, up from $0.1 million in 2025.
Nanox will need to raise additional funds to help address its cash crunch. If unable to do so, the company may be forced to delay, reduce or eliminate product development and commercialization efforts. Nanox also may consider granting the rights to develop and market its products to someone else.
The company also reported two key wins last week. Time Magazine recently selected its Nanox.ARC X as one of the “best inventions” for 2026, and the company also recently inked a software distribution agreement in Italy.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.