Nano-X Imaging reports Q3 EPS (29c), two est. (23c)

"We are pleased to have completed a very successful initial public offering in August which provides us with the capital to help achieve our vision to increase early detection of medical conditions that are discoverable by X-ray," stated Ran Poliakine, Chairman and CEO of Nanox. "With our proprietary, next-generation digital X-ray technology, we are developing an imaging system - the Nanox.ARC - that is substantially less expensive then legacy X-ray machines, allowing us to target the roughly 2/3 of the world's population who currently have no, or limited access, to imaging and decrease wait times for the remaining 1/3. This is a significant missed opportunity since imaging can lead to early detection of serious and chronic diseases, resulting in improved outcomes for patients and cost savings for payers. We exited the third quarter with accelerating momentum having signed an agreement in September 2020 with SPI Medical for the deployment of 630 Nanox.ARC units across Mexico and Guatemala. Together with previously signed agreements, we currently have contracts with nine service providers to deploy 5,150 Nanox.ARC units across 13 countries, and strategic collaborations aiming to deploy an additional 5,500 units in the US, Korea and Vietnam, each subject to regulatory approvals. We anticipate these agreements with service providers and collaborations indicate important progress toward achieving our goal of deploying 15,000 systems by the end of 2024. We believe this speaks to a global unmet need that we are addressing with our Nanox.ARC system. We look forward to demonstrating our digital X-Ray technology in a range of 2D and 3D medical imaging procedures at this year's virtual Radiology Society of North America 2020 meeting later this month, and intend to make these materials available to our investors and global stakeholders so they can join and witness our technology."