Accuray Reports 3% Revenue Growth to $458.5 Million for Fiscal Year Ending June 30, 2025

Accuray Incorporated reported a net revenue of $458.5 million for the fiscal year ending June 30, 2025, marking a 3% increase compared to $446.6 million in the previous fiscal year. Product revenue reached $237.6 million, while service revenue amounted to $220.9 million. The company's gross profit increased to $147.0 million, representing 32.1% of net revenue, compared to $142.9 million, or 32.0% of net revenue, in the prior year. The company experienced a net loss of $1.6 million, or $0.02 per share, a significant improvement from the net loss of $15.5 million, or $0.16 per share, in the previous fiscal year.

The company's operating expenses totaled $139.1 million, a decrease from $142.4 million in the prior year. Research and development expenses decreased to $47.9 million, while selling and marketing expenses increased slightly to $43.3 million. General and administrative expenses also decreased to $47.9 million. Accuray's income from its equity method investment in a joint venture increased substantially to $4.7 million, compared to $1.8 million in the previous year. Interest expense increased to $13.0 million, and the company recorded a gain on extinguishment of debt of $1.5 million.

Operationally, Accuray reported gross orders of $288.0 million and net orders of $177.2 million, resulting in a book-to-bill ratio of 1.2. The company's order backlog at the end of the fiscal year was $427.0 million. The company highlighted its strategic partnerships, including collaborations with GE Healthcare, Oncopole Claudius Regaud, and TrueNorth Medical Physics LLC, aimed at advancing personalized cancer care and improving radiotherapy system performance. Accuray also emphasized its focus on expanding sales in international markets, particularly with the Accuray Helix system designed to address gaps in patient access to radiation medicine.

Looking ahead, Accuray acknowledged the ongoing impact of macroeconomic conditions, including inflation and supply chain challenges, on its gross margins and cash from operations. The company anticipates these challenges will persist through at least calendar year 2025. Accuray also noted the potential impact of trade policies and tariffs on its business, particularly in China. The company stated that it believes its existing cash and cash equivalents, along with available debt facilities, will be sufficient to fund its operations for at least the next twelve months.