Nanox's board approved a cost reduction plan on November 9, 2026, including layoffs, that the medical imaging company says will cut annual operating expenses 25% to 30% by the end of Q1 2027. The savings have to stretch about $26 million in cash at a company that already warns it may not survive as a going concern.
Key points
- Nanox says the new measures, added to earlier ones, target a 25% to 30% cut in annualized GAAP and non-GAAP operating expenses against 2026, excluding one-time restructuring charges.
- The company expects the plan to be fully in place by the end of Q1 2027, and says it includes a reduction of its global workforce.
- The target folds in roughly $2 million a year of savings Nanox had already announced from restructuring its South Korea operations.
- Nanox's preliminary figures put its cash, deposits and restricted deposits at about $26.0 million on September 30, 2026, down from $60.0 million at the end of 2025 (Form 6-K).
- The release gives no headcount, no dollar base for the percentage and no estimate of restructuring costs.
Nanox's numbers at a glance
| Figure | Value | Source |
|---|---|---|
| Cash, deposits and restricted deposits, December 31, 2025 | $60.0 million | Form 6-K |
| Cash, deposits and restricted deposits, September 30, 2026 (preliminary) | About $26.0 million | Form 6-K |
| Third-quarter 2026 revenue (preliminary) | About $4.3 million to $4.4 million | Form 6-K |
| Operating expense cut targeted, against 2026 | 25% to 30%, by end of Q1 2027 | Press release |
| Savings already announced from South Korea restructuring | About $2 million a year | Press release |
| Special shareholder meeting on the reverse split | November 18, 2026 | Proxy statement |
| Nasdaq deadline to regain the $1.00 minimum bid | March 29, 2027 | Form 6-K |
What is in the Nanox cost reduction plan?
It is a further set of spending and job cuts, layered on top of earlier ones, meant to shrink operating costs by a quarter to nearly a third. Nanox says the plan covers operating expenses, its worldwide headcount and other operational changes. It is still studying changes to manufacturing and supply-chain arrangements and to infrastructure spending, some of which could need consent from third parties or regulators. Separately, it is weighing what to do with its South Korea operations and some other assets, from selling them to scaling them back or closing them.
Nanox frames the cuts around four priorities: selling more Nanox.ARC imaging systems and filling its contracted imaging-network sites in the U.S., building distribution and partnership deals, running leaner, and finding financing or strategic alternatives.
“Our objective is to translate Nanox’s technological and clinical progress into measurable commercial performance while strengthening our financial foundation. We believe this balanced approach is necessary to advance commercialization with greater discipline and accountability, while recognizing the financial challenges we face.”
— Erez Meltzer, Chief Executive Officer and Acting Chairman, Nanox
How long can Nanox's cash last?
Nanox has not said, and its own filings say the money on hand is not enough for a year. In its October 16 preliminary results, the company estimated third-quarter revenue of about $4.3 million to $4.4 million and said its cash at September 30 would not fund its current plans for at least twelve months (Form 6-K, Exhibit 99.1).
The November release adds a warning finance teams will recognise: restructuring payments may raise cash outflows in the short run before the lower cost base reduces the burn. Nanox says it expects to need more financing and cannot promise it will be available on acceptable terms.
What is Nanox doing to keep its Nasdaq listing?
It is asking shareholders for a reverse share split. Nasdaq told Nanox on September 28, 2026 that its shares had closed under $1.00 for 30 business days in a row, and gave it until March 29, 2027 to recover, with a possible further 180 days if it moves to the Nasdaq Capital Market (Form 6-K). At a special meeting on November 18, 2026, shareholders vote on a reverse split of between 1-for-20 and 1-for-50 and on adding 300,000,000 authorized ordinary shares (proxy statement).
What should finance leaders take from it?
Our analysis: the release gives a percentage without the base it applies to, so nobody outside the company can yet turn 25% to 30% into dollars saved or months of runway gained. The timing also runs against the cash: payments for the restructuring come first and the full savings only by the end of Q1 2027. Nanox itself says the cuts address its liquidity needs only in part and that it expects to raise more money, so the plan buys time rather than closing the gap. For finance teams planning their own reductions, it is a reminder to model the cash cost of cutting alongside the savings, as a 13-week cash flow forecast does, and to decide up front which capabilities stay protected, as in these cost cuts that protect growth and these cost reduction guardrails that protect customer value.
Frequently asked questions
How much is Nanox cutting its costs?
Nanox says it is targeting a 25% to 30% reduction in annualized GAAP and non-GAAP operating expenses compared with 2026, excluding one-time restructuring charges, once the measures are fully in place.
When do Nanox's cost cuts take full effect?
The company says it expects the measures to be fully implemented by the end of the first quarter of 2027.
Is Nanox laying off employees?
Yes. The plan includes a reduction of Nanox's global workforce, but the release does not say how many jobs are affected or where.
How much cash does Nanox have?
About $26.0 million in cash, deposits and restricted deposits at September 30, 2026, on preliminary unaudited figures, which Nanox says are not enough to fund a year of its current plans (Form 6-K).
Could Nanox be delisted from Nasdaq?
It has until March 29, 2027 to keep its closing bid at $1.00 or more for 10 business days in a row, and may get another 180 days if it moves to the Nasdaq Capital Market (Form 6-K).
Sources
- Nanox Announces That Board Has Approved Cost Reduction and Operational Efficiency Measures: press release from Nanox via GlobeNewswire, 9 November 2026.
- Nanox preliminary third-quarter 2026 financial data: Form 6-K, Exhibit 99.1, filed with the SEC on 16 October 2026.
- Notice of Failure to Satisfy a Continued Listing Rule: Nanox's Form 6-K on Nasdaq's minimum bid price notice, 2 October 2026.
- Notice and proxy statement for the November 18, 2026 special general meeting: Form 6-K, Exhibit 99.1, filed 28 October 2026.
- Nanox: the company's website.