MADISON, Wis., Feb. 5, 2024 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) announced today its participation in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference, which takes place on February 13, 2024. BTIG-hosted events are intended for prospective and existing BTIG clients only. To request a one-on-one meeting with management, please contact your BTIG representative with interest. About AccurayAccuray is committed to expanding the powerful potential of radiation therapy to ...

Accuray Incorporated (ARAY) reported loss per share of 10 cents for the second quarter of fiscal 2024, wider than the year-ago period’s loss of 2 cents per share. The metric was also wider than the Zacks Consensus Estimate of a loss of 7 cents per share.Revenues in DetailAccuray registered revenues of $107.2 million in the second quarter of fiscal 2024, down 6.6% year over year. The figure, however, topped the Zacks Consensus Estimate by 0.1%.The overall top-line growth was dampened by lower Products revenu ...

Accuray Incorporated (NASDAQ:ARAY) Q2 2024 Earnings Conference Call January 31, 2024 4:30 PM ET Company Participants Jesse Chew - Senior Vice President, Chief Legal Officer Suzanne Winter - Chief Executive Officer Ali Pervaiz - Senior Vice President and Chief Financial Officer Conference Call Participants Marie Thibault - BTIG Brooks O'Neil - Lake Street Capital Markets Operator Good day, and welcome to the Accuray Second Quarter Fiscal 2024 Financial Results. All participants will be in listen-only mode. [ ...

Accuray (ARAY) reported $107.24 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 6.6%. EPS of -$0.10 for the same period compares to -$0.02 a year ago.The reported revenue represents a surprise of +0.12% over the Zacks Consensus Estimate of $107.11 million. With the consensus EPS estimate being -$0.07, the EPS surprise was -42.86%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...

The upcoming report from Accuray (ARAY) is expected to reveal quarterly loss of $0.07 per share, indicating a decline of 250% compared to the year-ago period. Analysts forecast revenues of $107.11 million, representing a decrease of 6.7% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its earnings, it is essential ...

Accuray Incorporated (ARAY) recently announced that the Providence Swedish Radiosurgery Center in Seattle, WA, is purchasing the latest generation CyberKnife S7 System. This purchase will be the hospital's second CyberKnife radiation delivery device purchase.With the purchase of the latest CyberKnife, the center is expecting to enhance its cancer treatment capabilities. The robotic nature of the device will also enable precision and accuracy, making it a perfect option for treating neurologic problems. This ...

New System Will Play a Key Role in Delivering Radiation Treatments in One of the Largest Cancer Facilities in Washington StateMADISON, Wis., Jan. 25, 2024 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) announced today that the Providence Swedish Radiosurgery Center in Seattle, Washington is enhancing its cancer treatment capabilities with the purchase of the latest generation CyberKnife® S7™ System, the hospital's second CyberKnife radiation delivery device purchase. The precision and accuracy enabled ...

MADISON, Wis., Jan. 16, 2024 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) will report financial results for the second quarter of fiscal year 2024, ended December 31, 2023, during a conference call hosted by company management at 1:30 p.m. PT/4:30 p.m. ET on January 31, 2024. The conference call dial-in numbers are (833) 316-0563 (USA) or (412) 317-5747 (international). In addition, a dial-up replay of the conference call will be available approximately one hour after the call's conclusion for one we ...

Accuray Incorporated (ARAY) is well-poised for growth in the coming quarters, courtesy of continued solid demand for its products. The optimism led by the first-quarter fiscal 2024 performance and potential in Precision Treatment Planning System (TPS) are expected to contribute further. However, overdependence on technologies and macroeconomic instability persist.Over the past year, this Zacks Rank #3 (Hold) stock has gained 33.8% against the 0.1% decline of the industry. The S&P 500 has witnessed 21.9% gro ...

Financial Data and Key Metrics - Global revenue grew by 8% year-over-year, with product revenue increasing by 17% year-over-year [8] - Order backlog stood at $489 million, representing more than 2x fiscal year 2023 product revenue [8] - Installed base of customers grew to 1,040 systems, a 5% year-over-year increase [9] - Net revenue for Q1 was $104 million, up 8% from the prior year, with product revenue at $53 million, up 17% [22][23] - Service revenue was $51 million, down 1% from the prior year [23] - Gross margin for the quarter was 38%, up from 35.9% in the prior year [25] - Adjusted EBITDA for the quarter was $6.5 million, compared to $1.9 million in the prior year [25] Business Line Performance - Continued customer adoption of CyberKnife, Radixact, and TomoTherapy platforms, driven by demand for advanced radiotherapy treatments [7] - New product innovations showcased at ASTRO, including VitalHold, Alliance-Plus, and Cenos online adaptive capability [10][11] - Cenos, leveraging AI for adaptive radiotherapy, is expected to be available for customer orders in spring 2024 [12] Market Performance - Strong performance in the U.S. and China, with regulatory clearance for the Tomo C platform in China, targeting a $600 million annual market opportunity [14][15] - Introduction of Helix, a value segment product, targeting high-potential emerging markets like India [16] - Strategic win at the Royal Marsden in the U.K., reinforcing the company's brand and market position [17][18] Strategic Direction and Industry Competition - Focus on achieving above-market revenue growth through innovation and commercial execution, expanding margins, and leveraging strategic partnerships [6] - Emphasis on improving patient access in underpenetrated global markets, particularly in China and India [14][16] - Competitive differentiation through comprehensive adaptive tools like Cenos, expected to increase win rates and upgrade the aged TomoTherapy installed base [12] Management Commentary on Operating Environment and Future Outlook - Positive outlook for radiation oncology, supported by technology advancements and clinical data, despite short-term headwinds in the U.S. [13] - Restructuring actions, including a 6% workforce reduction, aimed at simplifying the organization and improving operational efficiency [19] - Investments in commercial and customer support resources to maximize product innovations and market position [20] Other Important Information - Participation in the ASTRO conference, driving interest in new product innovations and showcasing the company's leadership in radiation oncology [10][17] - Launch of Accuray Financial Services to provide flexible financing options for capital equipment acquisition [10] - Enhanced executive team with new leadership in R&D, global service, and IT, leveraging experience from leading companies in the sector [21] Q&A Session Summary Question: Guidance and Order Funnel - The company remains cautiously optimistic, with strong Q1 performance but conservative guidance due to extended sales cycles in the U.S. and anti-corruption campaigns in China [30][31] Question: China Tomo C Opportunity - Tomo C approval came earlier than expected, with strong demand anticipated in the Type B market segment in China [32][33] - Revenue from Tomo C is expected to start contributing in Q4, with shipments to customers beginning in fiscal Q4 [34] Question: Inflation and Pricing Environment - Inflation remains a challenge, with a $2.5 million headwind in Q1, though supplier price increases have slowed [36][37] Question: Reimbursement Changes - Positive movement in U.S. reimbursement models, with ASTRO proposing a model that favors shorter-duration treatments like SBRT, expected to take over a year to implement [38][39] Question: Cenos Online Adaptive Solution - Strong customer interest in Cenos, with 510(k) pending and expected availability for orders in Q3 [42][43] Question: Helix Market Potential in India - India represents a $100 million to $150 million annual market opportunity for the Helix product, targeting high-growth emerging markets [44][45]