Financial Performance - Revenues decreased by 7% year-over-year to $93.9 million in Q1 FY26[17] - Product revenue experienced a significant decrease of 23% to $37.1 million[17] - Service revenue showed strong growth, increasing by 7% to $56.8 million[17] - Reported gross margin was 28.3%, but adjusting for China margin deferral, it was 29.4%[17, 21] - Adjusted EBITDA was negative $4.1 million, a decrease of 231%[17] China Joint Venture Impact - A net deferral of $1.1 million in Q1 was due to a higher mix of shipments to the China joint venture[21, 25] - The cumulative deferred margin in the balance sheet related to the China joint venture is $18.02 million[23] - Without considering the China impact, the adjusted EBITDA margin would be -3% instead of the reported -4%[23] Guidance and New Products - The company maintains its FY26 revenue guidance of $471 million to $485 million, representing a growth of 3% to 6%[26] - The company maintains its FY26 Adjusted EBITDA guidance of $31 million to $35 million, representing a growth of 10% to 25%[26] - Accuray Stellar, a configuration of the Radixact® Treatment Delivery System, was launched at ASTRO[14, 21]