The following is a summary of the Nano-X Imaging Ltd. (NNOX) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Nano-X reported a GAAP net loss for the fourth quarter of $10.2 million, a drastic improvement from the net loss of $52.8 million in Q4 2022 primarily due to lower general and administrative costs.

• Revenue for Q4 reached $2.4 million, accompanied by a gross loss of $1.7 million, whilst the company held $82.8 million in cash and marketable securities by the end of the year.

Business Progress:

• A significant milestone was hit as Nano-X received FDA clearance for its Nanox.ARC system, propelling plans for increased deployment in the U.S market.

• The company has begun making revenue from ARC imaging scans at its installed sites across several states in both the US and Africa.

• Partnering with a Peruvian distributor to expand the distribution of Nanox Connect in Latin America marked important progress in its international market expansion.

• The company's technical teams continue to collaborate with Varex and Swiss manufacturer System to advance production.

• With two FDA clearances secured for their AI solution, the company is leveraging AI algorithms for early disease diagnosis.

More details: Nano X Imaging IR

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