NANO-X IMAGING Experiences 17.3% Increase in Revenue During Second Quarter of FY2023

☀️Earnings Overview

For the second quarter of FY2023 ending June 30, 2023, NANO-X IMAGING ($NASDAQ:NNOX) reported a total revenue of $2.6 million, a 17.3% increase from Q2 of FY2022. However, net income for the period was -$17.4 million, a decrease from the previous year’s figure of -$19.6 million.

Analysis

GoodWhale is an investment analysis platform that examines the financials of NANO-X IMAGING. Our data indicates that NANO-X IMAGING is regarded as a high risk investment in terms of financial and business aspects. GoodWhale has detected two risk warnings related to the company’s cashflow statement and financial journal. By registering with us, users can access detailed information about these potential risks and make informed decisions about the viability of investing in NANO-X IMAGING. We take pride in providing reliable, accurate, and up-to-date information that will help you make wise decisions. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Nano-x Imaging. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Nano-x Imaging. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Nano-x Imaging. More…

Key Ratios Snapshot

Some of the financial key ratios for Nano-x Imaging are shown below. More…

Peers

The company’s products include the Nano X Ray System, a portable x-ray system that uses nanotechnology to generate high-resolution images; and the Nano X CT System, a nanotechnology-based computed tomography system that produces 3D images of the human body. Nano X Imaging’s competitors include Japan Vietnam Medical Instrument JSC, Medicalgorithmics SA, and EMvision Medical Devices Ltd.

– Japan Vietnam Medical Instrument JSC ($HOSE:JVC)

Vietnam Medical Instrument JSC is a medical equipment company located in Vietnam. As of 2022, the company has a market capitalization of 320.63 billion VND. The company’s Return on Equity (ROE) for the same year is -2.94%.

Vietnam Medical Instrument JSC is engaged in the manufacture and sale of medical equipment and supplies. The company offers a wide range of products, including X-ray machines, ultrasound machines, medical beds, and surgical instruments. It also provides services, such as repairs and maintenance of medical equipment.

– Medicalgorithmics SA ($LTS:0QR8)

Algorithmics SA is a publicly traded company with a market capitalization of 61.71M as of 2022. The company’s return on equity is 1662.69%, meaning that it has generated a significant amount of shareholder value. Algorithmics SA is a provider of software and services for the financial services industry. The company’s products and services are used by banks, insurance companies, and other financial institutions to manage risk and compliance.

– EMvision Medical Devices Ltd ($ASX:EMV)

EMvision Medical Devices Ltd is a medical device company that develops and commercializes 3D and 4D medical imaging products. The company has a market cap of 131.68M as of 2022 and a Return on Equity of -43.39%. EMvision’s products are used for the diagnosis and treatment of various conditions, including cancer, cardiovascular disease, and neurological disorders. The company’s products are sold worldwide.

Summary

Nano-X Imaging, Inc. reported a 17.3% increase in total revenue for the second quarter of FY2023 ending June 30, 2023 at USD 2.6 million compared to the same period last year. Net income, however, decreased to -17.4 million from -19.6 million in the same period last year. The stock price of Nano-X Imaging moved up the same day despite the decrease in net income, signaling investor confidence in the company’s performance and outlook for the future. Investors should consider researching Nano-X Imaging’s financials, competitive landscape, and industry trends before making any investment decisions.