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Segments of Operations

12 Months Ended

Dec. 31, 2021

NOTE 14 - SEGMENTS OF OPERATIONS

The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable operating segments. The Company manages its business primarily on a service basis. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments. The Company’s reportable segments consist of the Nanox ARC, Radiology services division and AI solutions divisions. Each one is managed separately to better align with the Company’s customers and distribution partners and the unique market dynamics of each segment. Operating income for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Operating loss for each segment excludes other income and expense and certain expenses managed outside the reportable segments. Costs excluded from segment operating income include various corporate expenses such as income taxes. The Company does not include intercompany transfers between segments for management reporting

The accounting policies of the various segments are the same as those described in Note 2, “Summary of Significant Accounting Policies.” The Company evaluates the performance of its reportable operating segments based on net sales and operating loss.

	Year ended December 31, 2021
	Nanox. ARC			Radiology Services			AI Solutions			Total

Revenues	$	-		$	1,034		$	270		$	1,304
Segment operating loss		(56,875	)		(530	)		(4,153	)		(61,558	)
Financial income											288
Loss before taxes on income											(61,846	)

Depreciation and amortization expenses		458			441			1,393			2,292
Stock based compensation	$	18,433		$	37		$	336		$	18,806

	Year ended December 31, 2020
	Nanox. ARC			Radiology Services		AI Solutions		Total

Segment operating loss		(43,923	)		-		-		(43,923	)
Financial expense									108
Loss before taxes on income									(43,815	)

Depreciation		208			-		-		208
Stock based compensation	$	24,781		$	-	$	-	$	24,781

	Year ended December 31, 2019
	Nanox. ARC			Radiology Services		AI Solutions		Total

Segment operating loss		(22,571	)		-		-		(22,571	)
Financial income									8
Loss before taxes on income									(22,563	)

Depreciation		53			-		-		53
Stock based compensation	$	16,245		$	-	$	-	$	16,245

For the year ended December 31, 2021, the Company’s revenues in the United States of America constitutes approximately 98% of the Company’s total revenue. For the year ended December 31, 2021 no individual customer exceeded 10% of our total revenue or total accounts receivables.

Property and Equipment by Geography

	Year Ended December 31
	2021		2020
Israel		3,381		2,065
South Korea		33,836		11,675
Unites States		22		-
Japan		196		280
		37,435		14,020