Accuray Incorporated (ARAY) recently announced that Japan-based Gifu Prefectural General Medical Center became the first hospital in the country to treat patients with surface-guided radiation therapy (SGRT) using its Radixact Radiation Delivery System and VitalHold (ARAY’s joint solution in partnership with C-Rad) package. The technology is expected to play a crucial role in the hospital's plan to expand patient access to high-precision radiation therapy treatments.Per Accuray, high-resolution cameras cont ...

MADISON, Wis., Sept. 3, 2024 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) announced today that President and Chief Executive Officer Suzanne Winter will be taking a temporary medical leave of absence to receive care for a treatable form of cancer, effective immediately. Accuray Senior Vice President and Chief Commercial Officer Sandeep Chalke will serve as the interim CEO during Ms. Winter's absence. To ensure that Mr. Chalke and the organization have the necessary support, the company has formed an ...

Accuray Incorporated (ARAY) has announced that its innovative CT-guided helical radiotherapy system, Accuray Helix, has received the CE Mark, signaling its readiness for deployment in global markets. Designed to meet the needs of emerging regions where access to advanced cancer care is limited, the Accuray Helix system offers a cost-effective solution for delivering high-performance, precise radiation treatments. Radiotherapy is an essential part of cancer treatment, effective for both localized and advance ...

Developed for India and other countries where patient access to care with radiotherapy is challenged and where versatility and ease of use are a high priorityDrives the next phase of company's strategic plan to expand its portfolio of helical radiation therapy delivery systemsMADISON, Wis., Aug. 27, 2024 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) announced today the company has received CE Mark for Accuray Helix™, a CT-guided helical radiotherapy system designed to provide high-performance and high ...

Core Viewpoint - Accuray's recent fiscal fourth quarter report showed a significant revenue increase, yet the company continues to face challenges in consistent growth and execution, leading to a mixed outlook for future performance [3][4][9] Financial Performance - Revenue for the fourth quarter rose nearly 16% in constant currency, exceeding expectations by about 10% [4] - Product revenue increased by 29% year over year, while service revenue declined by 2% [4] - For the fiscal year, revenue remained flat compared to the previous year, and adjusted EBITDA declined by approximately 18% [5] Market Position and Execution - Accuray has struggled to show real progress, with revenue stagnating between $425 million and $450 million for three consecutive years and a growth rate of less than 2% annually over the past decade [3] - The company has lost 25% of its value over the past five years, while the sector has appreciated by about 75% [3] - Management attributed recent performance issues to a weaker capital equipment market in the U.S., but this explanation is questioned given the performance of competitors [6] Order Growth and Backlog - Gross orders increased by 8% in the fourth quarter, but net orders decreased by 6%, leading to a 5% decline in backlog [6] - Orders improved by 9% in the U.S. and grew by 80% in China, but consistent quarterly net orders of $100 million are deemed necessary for the stock to perform well [6] Future Outlook - Management guided for FY'25 revenue between $460 million and $470 million, indicating only 5% year-over-year growth [7] - Adjusted EBITDA guidance suggests a margin improvement to around 6%, compared to 4.4% last year [7] - Long-term growth projections are around 4% to 5%, with potential upside if the company can replicate success in Japan in other markets [8] Valuation and Investment Considerations - Current valuation estimates suggest shares could be worth around $4 based on free cash flow, with a potential target of $4.50 using a revenue multiple approach [8] - The company faces significant competition and must execute effectively to capitalize on market opportunities, particularly in China and other emerging markets [9]

Accuray Incorporated (ARAY) and Halifax Health announced a breakthrough in cancer treatment at the Charles L. and Miki N. Grant Cancer Center for Hope in Port Orange, FL. The center's medical team became the first in the United States to treat cancer patients using Accuray’s Radixact System with VitalHold technology. This innovative system is designed to enhance the precision of radiation therapy by improving patient positioning and monitoring throughout the treatment process, offering a new standard of car ...

Accuray Incorporated (ARAY) reported fourth-quarter fiscal 2024 earnings per share (EPS) of 3 cents against the year-ago period’s reported loss of 3 cents per share. The bottom line missed the Zacks Consensus Estimate of 4 cents.Revenues in DetailAccuray registered quarterly revenues of $134.3 million, up 13.5% year over year. The figure beat the Zacks Consensus Estimate by 9.4%.The overall top-line growth was driven by higher product sales, partially offset by lower service revenues.At constant exchange ra ...

Accuray Incorporated (NASDAQ:ARAY) Q4 2024 Earnings Call Transcript August 14, 2024 4:30 PM ET Company Participants Jesse Chew - SVP and Chief Legal Officer Suzanne Winter - President and CEO Ali Pervaiz - CFO Conference Call Participants Young Li - Jefferies Marie Thibault - BTIG Brooks O'Neil - Lake Street Capital Markets Jason Wittes - Roth Capital Operator Good day, and welcome to the Accuray Fscal 2024 Fourth Quarter Financial Results Call. All participants will be in listen-only mode. [Operator Instru ...

Financial Performance Highlights - Accuray achieved record system shipments with a 24% increase compared to the same period in the prior fiscal year, resulting in the highest revenue quarter in company history[14] - Gross orders grew by 10% in FY24, reaching $342.1 million, with a book-to-bill ratio of 1.5, indicating strong demand[22] - International markets experienced a 10% annual revenue growth, driven by the patient access strategy in emerging markets[22] - Operating expenses decreased by 6% annually to $142.4 million, driven by disciplined cost control[22] - Adjusted EBITDA for Q4'FY24 increased by 94% to $10.1 million[22] Product and Market Expansion - The Accuray Precision® Treatment Planning System (TPS) gained approval in China for use with the Tomo® C radiation therapy system for the Type B market[15] - First installations of the VitalHold surface-guided radiation therapy (SGRT) on the Radixact® System were implemented in Japan[16] - The Accuray Helix, a configuration of the Radixact® Treatment Delivery System, gained CE Mark for use in India and other high potential markets[17] FY25 Guidance - The company projects FY25 revenue to be in the range of $460 million to $470 million, representing a growth of 3% to 5%[24] - Adjusted EBITDA for FY25 is projected to be between $27.5 million and $29.5 million, indicating a growth of 40% to 50%[24]

14% Revenue and 8% Orders Growth in Q4; Company issues FY25 GuidanceMADISON, Wis., Aug. 14, 2024 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported financial results for the fourth quarter and fiscal 2024, ended June 30, 2024.Fourth Quarter Fiscal 2024 SummaryNet revenue of $134.3 million, an increase of 13.5 percent from the same period in the prior fiscal year. Net revenue on a constant currency basis was $136.7 million, which represents a 15.6 percent increase versus the same period in th ...