Digital x-ray developer Nanox reported an increase in revenues in the first quarter of 2022, while its net loss significantly increased compared to the same period last year.
The company's first-quarter (end-March 31) revenue increased to $1.8 million, compared with no revenue in the same period last year, with sales from teleradiology services and artificial intelligence (AI) software leading the way, the company said.
However, the company's net loss for the period grew markedly. Nanox reported a net loss of $21.7 million in the first quarter, compared with a net loss of $12.7 million in the first quarter of 2021. The loss was largely due to expenses related to the consolidation of Nanox.AI and USARad and acquisition of the assets of MDWeb, Nanox said.
