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Accuray
(NASDAQ:ARAY)
Accuray (ARAY) vs. SPDR S&P 500 ETF (SPY)
Accuray Business Overview & Revenue Model
Accuray Earnings Call Summary
Accuray Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 450.90M | 458.50M | 446.55M | 447.61M | 429.91M | 396.29M |
| Gross Profit | 139.05M | 146.97M | 142.92M | 153.96M | 159.96M | 159.51M |
| EBITDA | 8.87M | 20.24M | 5.71M | 8.37M | 11.64M | 18.72M |
| Net Income | -19.32M | -1.59M | -15.54M | -9.28M | -5.35M | -6.31M |
Balance Sheet | ||||||
| Total Assets | 456.82M | 470.24M | 468.63M | 479.21M | 472.85M | 480.10M |
| Cash, Cash Equivalents and Short-Term Investments | 63.92M | 57.42M | 68.57M | 89.40M | 88.74M | 116.37M |
| Total Debt | 179.11M | 176.38M | 210.75M | 205.04M | 199.49M | 199.41M |
| Total Liabilities | 394.95M | 389.07M | 423.54M | 425.56M | 419.66M | 411.26M |
| Stockholders Equity | 61.87M | 81.17M | 45.08M | 53.66M | 53.19M | 68.84M |
Cash Flow | ||||||
| Free Cash Flow | 13.72M | -5.66M | -15.51M | 2.86M | -7.12M | 36.19M |
| Operating Cash Flow | 22.33M | 2.86M | -11.90M | 15.54M | -2.40M | 38.51M |
| Investing Cash Flow | -11.23M | -8.52M | -3.60M | -12.68M | -4.72M | -2.40M |
| Financing Cash Flow | -2.55M | -4.25M | -3.95M | -2.11M | -15.37M | -28.80M |
Accuray Technical Analysis
Accuray Risk Analysis
Accuray Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $210.77M | 27.19 | 19.02% | ― | 16.05% | 29.48% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $187.32M | ― | -13.27% | ― | 4.68% | 55.37% | |
44 Neutral | $227.84M | ― | ― | ― | 49.52% | 19.34% | |
42 Neutral | $117.87M | ― | -36.07% | ― | 1.51% | 5.07% | |
41 Neutral | $152.02M | ― | -2462.70% | ― | -21.10% | -18.32% | |
38 Underperform | $145.13M | ― | -422.35% | ― | 21.02% | -200.88% |
Accuray Corporate Events
Accuray Incorporated’s recent earnings call presented a mixed sentiment, reflecting both promising developments and significant challenges. The company showcased strong interest and growth in its service segment and new product launches, yet faced hurdles with declining revenue, lower product sales, and increased operating losses. While transformation efforts and strategic partnerships hint at potential future growth, current financial metrics raise concerns.
Accuray Incorporated, a company specializing in advanced radiosurgery and radiation therapy systems, operates within the medical device industry, offering innovative solutions for tumor treatment worldwide. In its latest earnings report for the quarter ending September 30, 2025, Accuray Incorporated reported a decline in total net revenue to $93.9 million from $101.5 million in the same period last year, with a net loss of $21.7 million compared to a loss of $3.9 million in the previous year. Key financial metrics highlighted include a decrease in product revenue and an increase in service revenue, alongside increased operating expenses and interest expenses impacting overall profitability. Despite these challenges, the company continues to navigate macroeconomic and geopolitical uncertainties, supply chain disruptions, and inflationary pressures, which are expected to persist into fiscal year 2026. Looking ahead, Accuray’s management remains focused on maintaining sufficient cash resources and exploring strategic opportunities to enhance its financial performance and operational efficiency.
Accuray reported its fiscal 2026 first-quarter financial results, highlighting a 7% decrease in total net revenue compared to the previous year. The company announced significant leadership changes with Steve La Neve appointed as CEO and a restructuring plan aimed at reducing costs and streamlining operations. Despite a decrease in product revenue, service revenue increased by 7%, and the company introduced the Accuray Stellar Solution at the ASTRO annual meeting. Accuray’s net loss widened to $21.7 million, with a decrease in gross profit margin due to geographic sales mix and joint venture accounting. The company reaffirmed its fiscal year 2026 guidance, expecting total net revenue between $471 million and $485 million.
The most recent analyst rating on (ARAY) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Accuray stock, see the ARAY Stock Forecast page.
On October 18, 2025, Accuray entered into a consulting agreement with Dedication Capital, appointing Steven F. Mayer as Transformation Board Sponsor to lead strategic initiatives, with compensation including a base fee and equity awards. Additionally, on October 20, 2025, Accuray announced the appointment of Steve La Neve as CEO, succeeding Suzanne Winter, as part of a broader transformation plan aimed at enhancing competitiveness and achieving sustainable growth.
The most recent analyst rating on (ARAY) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Accuray stock, see the ARAY Stock Forecast page.
On September 19, 2025, Accuray Incorporated entered into a consulting agreement with Jesse Chew, its departing Senior Vice President, Chief Legal Officer, and Corporate Secretary, to assist with the transition of his responsibilities. Mr. Chew will provide consulting services until December 31, 2025, receiving a monthly retainer and continued vesting of his equity awards, indicating a structured transition plan for the company.
The most recent analyst rating on (ARAY) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Accuray stock, see the ARAY Stock Forecast page.
Accuray Incorporated’s recent earnings call painted a mixed picture, with notable achievements in service revenue growth and successful debt refinancing. However, these positives were tempered by revenue declines in key regions, geopolitical challenges, and a sluggish U.S. market. The company has managed to mitigate some tariff impacts, but ongoing geopolitical uncertainty remains a significant concern.
Accuray Incorporated faces a significant business risk due to the potential exercise of outstanding warrants, which could lead to an increase in the number of shares available for resale in the public market, thereby diluting the value of existing stockholders’ shares. As of June 30, 2025, a total of 23,428,241 shares could be issued through the exercise of Premium and Penny Warrants, potentially exerting downward pressure on the stock price. This dilution risk might prompt current stockholders to sell their shares, further depressing the stock price and encouraging short selling. Additionally, the anti-dilution provisions in the Warrants could complicate future equity financing efforts, making it challenging for the company to raise funds under favorable conditions.
On August 19, 2025, Robert C. Kill, a Class I director of Accuray Incorporated, announced his decision not to seek re-election at the company’s annual meeting in November 2025. His decision was not due to any disagreements with the company or its board. Additionally, Jesse Chew, the Senior Vice President, Chief Legal Officer, and Corporate Secretary, submitted his resignation effective September 19, 2025, and will continue to consult for the company until the end of the year. His resignation was also not due to any conflicts or issues with the company.
The most recent analyst rating on (ARAY) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on Accuray stock, see the ARAY Stock Forecast page.