Measures aim to improve financial flexibility, extend cash resources, and accelerate commercialization while preserving critical innovation and regulatory capabilities
PETACH TIKVA, Israel, Nov. 9, 2026 — NANO-X IMAGING LTD (NASDAQ: NNOX), a medical imaging technology company, today announced that its Board of Directors has approved additional cost reduction and operational efficiency measures. The plan builds on previously announced initiatives, including the restructuring of its South Korea operations, and is intended to reduce operating expenses, extend cash resources, and strengthen the company’s focus on commercial priorities.
The additional measures, together with previously implemented initiatives, are expected to achieve a 25%–30% reduction in annualized GAAP and non-GAAP operating expenses compared with annualized 2026 operating expenses, excluding one-time restructuring charges. Full implementation is currently expected by the end of the first quarter of 2027. The target includes approximately $2 million in annual savings previously announced through the South Korea restructuring. The plan includes operating expense reductions, a reduction in global workforce, and other operational adjustments.
Once fully implemented, the measures are expected to lower ongoing cash burn. However, restructuring payments may increase cash outflows in the near term, and the timing and extent of savings will depend on implementation progress and other cash flow factors. Nanox continues to evaluate additional opportunities to improve efficiency, including potential changes to manufacturing and supply chain arrangements, infrastructure spending, and other operational activities. These potential measures remain subject to further review and, where applicable, required approvals.
Four Strategic Priorities
Alongside its cost reduction and efficiency initiatives, Nanox intends to focus on four strategic priorities:
- Nanox.ARC and Nanox Imaging Network (NIN) Commercialization: Accelerate U.S. commercialization through channel partners, system installations, clinical adoption, and utilization, while seeking to activate contracted NIN sites.
- Commercial Partnerships and Business Development: Strengthen distribution relationships, explore strategic opportunities for Nanox.AI and OEM capabilities, and advance teleradiology and healthcare IT activities to support potential revenue growth.
- Operational Efficiency: Reduce operating costs while preserving essential innovation, regulatory, supply continuity, and commercial capabilities.
- Financial Flexibility: Evaluate financing and strategic alternatives to support commercialization and liquidity. The company is also considering measures to regain compliance with Nasdaq’s minimum bid price requirement. There can be no assurance that financing will be available on acceptable terms or that compliance will be regained.
Evaluation of Operations and Assets
Nanox is evaluating potential alternatives for its South Korea operations and certain other operations and assets. These alternatives may include divestitures, reduced activity, or discontinuation of operations, with the objective of preserving value where possible. No assurance can be provided that these evaluations will result in any transaction or operational change, or that any specific asset value will be realized.
Financial Position and Liquidity
As previously disclosed in its SEC filings, Nanox has experienced recurring operating losses and negative operating cash flows, raising substantial doubt about its ability to continue as a going concern. The announced measures are intended to address part of the company’s liquidity requirements, although their sufficiency cannot be assured. Additional financing is expected to be required, and it may not be available on acceptable terms or at all.
“Our objective is to translate Nanox’s technological and clinical progress into measurable commercial performance while strengthening our financial foundation,” said Erez Meltzer, Chief Executive Officer and Acting Chairman. “We are taking important steps across four priorities: accelerating Nanox.ARC adoption and NIN utilization, deepening commercial and strategic partnerships, improving operational efficiency, and enhancing financial resilience. At the same time, we intend to preserve the critical innovation, regulatory and commercial capabilities needed to support our customers, channel partners and installed base. We believe this balanced approach is necessary to advance commercialization with greater discipline and accountability, while recognizing the financial challenges we face. We remain focused on managing our resources carefully and prioritizing the activities we believe are most important to our business.”
About Nanox
Nanox (NASDAQ: NNOX) is focused on advancing preventive healthcare through an integrated medical imaging and healthcare services platform. The company’s solutions combine affordable imaging hardware, AI-based technologies, cloud software, remote radiology access, healthcare IT, and related services to support earlier disease detection, improved clinical efficiency, and broader access to medical imaging.
Its ecosystem includes Nanox.ARC, a 3D multi-source digital tomosynthesis imaging system; Nanox.AI, a suite of AI-based algorithms designed to support the interpretation of routine CT imaging; Nanox.CLOUD, a cloud-based imaging data and analytics platform; Nanox.MARKETPLACE and USARAD Holdings, which provide remote radiology, cardiology, and teleradiology services; and Nanox Health IT, which offers healthcare IT solutions including RIS, PACS, AI, dictation, and secure infrastructure.
Through the integration of imaging technology, AI, cloud infrastructure, clinical expertise, and healthcare IT, Nanox aims to improve imaging accessibility, utilization, and preventive care worldwide. For more information, visit www.nanox.vision.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include expectations, targets, plans, intentions, and estimates concerning the cost reduction and operational efficiency measures, the targeted 25%–30% operating expense reduction, anticipated cash burn and liquidity improvements, potential operational changes, commercialization priorities, partnerships, financing plans, and efforts to regain compliance with Nasdaq listing requirements.
These statements are based on management’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Such risks include delays or failure to implement the measures, lower-than-expected savings, higher implementation costs, operational disruption, loss of key personnel, failure to obtain required approvals, inability to complete strategic transactions or realize asset value, uncertainty regarding market adoption and commercialization, inability to secure financing, potential dilution, substantial doubt regarding the company’s ability to continue as a going concern, and potential delisting from Nasdaq.
Additional risks are described under “Risk Factors” in Nanox’s Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 30, 2026, and in subsequent SEC filings. Forward-looking statements speak only as of the date of this press release. The company undertakes no obligation to update these statements except as required by law.
Contacts
Media Contact:
Ben Shannon
ICR Healthcare
[email protected]
Investor Contact:
Mike Cavanaugh
ICR Healthcare
[email protected]
