Accuray Posts Weaker Q2 Results Amid Ongoing Transformation

Accuray ( (ARAY) ) just unveiled an announcement.

On February 4, 2026, Accuray reported weaker fiscal 2026 second-quarter results for the period ended December 31, 2025, with total net revenue down 12% year-on-year to $102.2 million as a 26% decline in product revenue outweighed modest service growth, compressing gross margin to 23.5% and swinging the company from a $2.5 million profit to a $13.8 million net loss. The company is in the early stages of a major transformation announced on December 15, 2025, including organizational realignment, outsourcing, sales enablement initiatives and workforce reductions affecting about 15% of staff, which drove $6.1 million of restructuring charges in the quarter and are expected to total about $13 million this fiscal year, with annualized operating profit improvements targeted at roughly $25 million, about $12 million of which is expected in fiscal 2026. Despite lower gross product orders and a 17% year-on-year decline in backlog to $383.3 million, management emphasized execution on cost cuts—operating expenses would have been down 20% year-on-year excluding restructuring—and reaffirmed its strategic push to enhance competitiveness and long-term profitability, updating full-year 2026 guidance to net revenue of $440–$450 million and adjusted EBITDA of $22–$25 million, even as cash and equivalents fell to $41.9 million.

The most recent analyst rating on (ARAY) stock is a Hold with a $0.76 price target. To see the full list of analyst forecasts on Accuray stock, see the ARAY Stock Forecast page.

Spark’s Take on ARAY Stock

According to Spark, TipRanks’ AI Analyst, ARAY is a Neutral.

Accuray’s overall stock score is primarily impacted by its financial performance, characterized by declining revenues, negative profitability, and high leverage. Technical analysis indicates bearish momentum, and valuation metrics are unattractive due to a negative P/E ratio. While the earnings call and corporate events highlight potential for future growth, current financial metrics and market conditions present significant challenges.

To see Spark’s full report on ARAY stock, click here.

More about Accuray

Accuray Incorporated (NASDAQ: ARAY), based in Madison, Wisconsin, operates in the medical technology sector, specializing in radiation therapy systems and related services for cancer treatment. The company generates revenue from both product sales and recurring service contracts, with a global customer base and a particular exposure to geographic mix and joint-venture performance, including operations in China.

Average Trading Volume: 1,041,618

Technical Sentiment Signal: Sell

Current Market Cap: $90.83M

Find detailed analytics on ARAY stock on TipRanks’ Stock Analysis page.