Nano-X Imaging Ltd. (NNOX): A Bear Case Theory

Insider Monkey12-01

We came across a bearish thesis on Nano-X Imaging Ltd. (NNOX) on Substack by Steve Wagner. In this article, we will summarize the bears’ thesis on NNOX. Nano-X Imaging Ltd. (NNOX)'s share was trading ...

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(NNOX): A Bear Case Theory</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNano-X Imaging Ltd. (NNOX): A Bear Case Theory\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-01 01:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/nano-x-imaging-ltd-nnox-174213426.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We came across a bearish thesis on Nano-X Imaging Ltd. (NNOX) on Substack by Steve Wagner. In this article, we will summarize the bears’ thesis on NNOX. Nano-X Imaging Ltd. (NNOX)'s share was trading ...</p>\n\n<a href=\"https://finance.yahoo.com/news/nano-x-imaging-ltd-nnox-174213426.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4082","symbol_name":"医疗保健设备","start_time":0,"source_url":"https://finance.yahoo.com/news/nano-x-imaging-ltd-nnox-174213426.html","article_id":"2488350125","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/V4hom4OAB8jnV4owtw6bzw--~B/aD01NzM7dz03NTA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/insidermonkey.com/3520cd47bc32869aeaeff1fa7b97d54f"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488350125","pubTimestamp":1732988533,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"We came across abearish thesison Nano-X Imaging Ltd.  on Substack by Steve Wagner. In this article, we will summarize the bears’ thesis on NNOX. Nano-X Imaging Ltd. 's share was trading at $6.07 as of Nov 26th.Nano-X Imaging  provided an update on its Q3 2024 operations, revealing mixed results and raising several concerns for investors. The company reported $3 million in revenue for the quarter, a modest increase from $2.5 million in Q3 2023. A notable highlight was the expansion of its U.S. sales and support teams, aimed at strengthening its global growth trajectory. Progress was also made in deploying the Nanox.ARC and Nanox.AI solutions, with dozens of units now operational worldwide. Additionally, Nano-X continued to expand its AI business, securing new distribution agreements with SpinexMedical and extending partnerships with Corewell Health, Dandelion Health, and Oxford University Hospitals.The company’s liquidity position and cash burn rate remain significant issues, and there ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4082":"医疗保健设备","NNOX":"Nano-X Imaging Ltd.","BK4196":"保健护理服务"},"translate_title":"Nano-X Imaging Ltd.(NNOX)：熊市理论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NNOX":1},"content_text":"We came across a bearish thesis on Nano-X Imaging Ltd. (NNOX) on Substack by Steve Wagner. In this article, we will summarize the bears’ thesis on NNOX. Nano-X Imaging Ltd. (NNOX)'s share was trading at $6.07 as of Nov 26th.\n Pixabay/Public domain \nNano-X Imaging (NNOX) provided an update on its Q3 2024 operations, revealing mixed results and raising several concerns for investors. The company reported $3 million in revenue for the quarter, a modest increase from $2.5 million in Q3 2023. A notable highlight was the expansion of its U.S. sales and support teams, aimed at strengthening its global growth trajectory. Progress was also made in deploying the Nanox.ARC and Nanox.AI solutions, with dozens of units now operational worldwide. Additionally, Nano-X continued to expand its AI business, securing new distribution agreements with SpinexMedical and extending partnerships with Corewell Health, Dandelion Health, and Oxford University Hospitals.\nOn the clinical side, Nano-X initiated a multi-site clinical trial at Beilinson Hospital in Israel and in Ghana to gather data supporting the clinical efficacy of the Nanox.ARC system. Despite these positive developments, there were significant financial challenges. As of September 30, 2024, the company held $57.1 million in cash, a decrease from $82.8 million at the end of 2023. The cash burn, amounting to $26.1 million from operations, is a concern, particularly as it follows the deployment of only a few dozen ARC systems. The company reported a net loss of $13.6 million for the quarter, an improvement from a loss of $21.4 million in Q3 2023, largely due to a reduction in goodwill impairment expenses.\nBreaking down the revenue, the teleradiology services segment generated $2.6 million, reflecting customer retention and increased service volumes. However, sales from imaging devices and services, including Nanox.ARC systems, accounted for only $29,000, signaling a significant shortfall in the company’s core imaging business. AI solutions brought in $0.4 million, up from $141,000 in Q3 2023, but still a small contribution relative to expectations.\nDespite the modest progress, the situation is raising red flags, particularly regarding Nano-X's ability to meet its promises. The company had initially planned to deploy 5,150 Nanox.ARC units to underserved regions after receiving regulatory clearance for musculoskeletal imaging, which has already been granted. However, deployments have been slow, and revenue from these systems has been minimal. Concerns have been raised about the lack of transparency surrounding these deployments, with management unclear about whether the systems in question are 2D or Nanox.ARC units.\nThe company’s liquidity position and cash burn rate remain significant issues, and there are increasing concerns about the potential for further dilution. With limited revenue from key business segments, questions persist about why the promised deployments are not happening as quickly as expected. While musculoskeletal imaging offers an immediate opportunity, Nano-X has yet to capitalize on this, casting doubt on the company’s ability to deliver on its strategic vision. Without a clear path to commercialization and profitability, the future remains uncertain.\nNano-X Imaging Ltd. (NNOX) is not on our list of the 31 Most Popular Stocks Among Hedge Funds. As per our database, 5 hedge fund portfolios held NNOX at the end of the third quarter which was 6 in the previous quarter. While we acknowledge the risk and potential of NNOX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NNOX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.\nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.\nDisclosure: None. This article was originally published at Insider Monkey.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2488350125"}