Core Insights - Accuray Incorporated reported a total net revenue of $127.5 million for the fourth quarter of fiscal 2025, a decrease of 5% compared to $134.3 million in the same quarter of the previous fiscal year [3] - The company achieved a total net revenue of $458.5 million for fiscal 2025, reflecting a 3% increase from $446.6 million in the prior fiscal year [7] - Accuray successfully completed a refinancing of its debt, which is expected to support its long-term growth strategy [2][11] Fiscal Fourth Quarter Highlights - Product revenue for the fourth quarter was $70.7 million, down 11% from $79.7 million in the prior year [3] - Service revenue increased by 4% to $56.8 million, compared to $54.6 million in the previous year [3] - The company reported a net income of $1.1 million, or $0.01 per share, down from $3.4 million, or $0.03 per share, in the prior year [5] Fiscal Year 2025 Highlights - Total gross profit for fiscal 2025 was $147.0 million, representing 32.1% of net revenue, compared to $142.9 million or 32.0% in the previous fiscal year [8] - Operating expenses decreased by 2% to $139.1 million for fiscal 2025, down from $142.4 million in the prior year [10] - The company reported a net loss of $1.6 million for fiscal 2025, significantly improved from a net loss of $15.5 million in the previous fiscal year [10] Order Backlog and Financial Guidance - The ending order backlog as of June 30, 2025, was $427.0 million, a decrease of 5.6% from the third quarter and 12.4% from the prior year [6] - For fiscal year 2026, the company expects total net revenue in the range of $471 million to $485 million and adjusted EBITDA between $31 million and $35 million [17][28]

About Accuray The conference call dial-in numbers are 1-888-999-5318 (USA) or 1-848-280-6460 (international). In addition, a dial-up replay of the conference call will be available approximately one hour after the call's conclusion for one week. The replay number is 1-877-344-7529 (USA) or 1-412-317-0088 (international), conference ID: 3326908. A live webcast of the call will also be available from the Investor Relations section of the company's website at investors.accuray.com. A webcast replay can be acce ...

Core Viewpoint - Accuray Incorporated has entered into agreements to exchange $82 million of its senior convertible notes for shares of common stock and cash, enhancing its capital structure and liquidity [1][8]. Financing Agreements - The company has secured a new senior secured credit agreement providing for $150 million in term loan facilities, a $20 million delayed draw term loan facility, and a $20 million revolving credit facility [3]. - Proceeds from these facilities, along with available cash, will be used to repay all outstanding indebtedness under a previous credit agreement with Silicon Valley Bank [3]. Interest Rates and Terms - Interest on borrowings under the new facilities can be based on either a term SOFR-based rate with a 2.00% floor plus an 8.50% margin, or a base rate with a 3.00% floor plus a 7.50% margin [4]. Governance Changes - A governance agreement has been established with TCW, allowing for the appointment of one director and two non-voting board observers to Accuray's Board [6]. - Steven F. Mayer has been appointed to the Board, bringing extensive governance experience from various industries [7][8]. Warrants Issuance - Accuray has issued warrants to lenders, including 17,180,710 Premium Warrants with an exercise price of $1.68 per share and 6,247,531 Penny Warrants with an exercise price of $0.01 per share [8][9]. - Additional warrants will be issued upon drawing from the delayed draw term loan, with specific terms for exercise prices and anti-dilution protections [10][11]. Strategic Priorities - The company aims to transform radiation therapy care and create long-term shareholder value, supported by the new financing agreement [8].

Group 1 - Accuray Incorporated will participate in the Jefferies Global Healthcare Conference 2025, with a scheduled fireside chat on June 4th, 2025, at 5:30pm EDT/2:30pm PDT [1] - A live webcast of the conference call will be available on the company's Investor Relations website, with a replay accessible for 90 days [1] Group 2 - Accuray is focused on advancing radiation therapy to improve patient outcomes, offering innovative solutions for complex cases and simplifying treatment for more common cases [2] - The company is dedicated to continuous innovation in radiation therapy for oncology and neuro-radiosurgery, collaborating with clinicians and administrators to enhance patient recovery [2] - Accuray is headquartered in Madison, Wisconsin, and has facilities worldwide [2]