Accuray Incorporated engages in the design, development, manufacture, and sale of radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. The company offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate. It also provides the TomoTherapy platform, including the Radixact System, which allows for integrated radiation treatment planning, delivery, and data management, enabling clinicians to deliver ultra-precise treatments to approximately 50 patients per day; iDMS data management system, a fully integrated treatment planning and data management systems; and Accuray precision treatment planning system, a treatment planning and data management systems. In addition, the company offers post-contract customer support, installation, training, and other professional services. It primarily markets its products directly to customers, including hospitals and stand-alone treatment facilities through its sales organization, as well as to customers through sales agents and group purchasing organizations in the United States; and to customers directly and through distributors and sales agents internationally. Accuray Incorporated was incorporated in 1990 and is headquartered in Madison, Wisconsin.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $459M | $20M | $-2M | $-6M | -2.0% | 2.7% | -89.8% |
| 2024 | $447M | $6M | $-16M | $-16M | -34.5% | -0.2% | 67.5% |
| 2023 | $448M | $8M | $-9M | $3M | -17.3% | 4.1% | 73.6% |
| 2022 | $430M | $12M | $-5M | $-7M | -10.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 429.91 | 447.60 | 446.55 | 458.50 |
| Operating Revenue | - | 429.91 | 447.60 | 446.55 | 458.50 |
| Cost Of Revenue | - | 269.95 | 293.64 | 303.63 | 311.54 |
| Gross Profit | - | 159.96 | 153.96 | 142.92 | 146.97 |
| Operating Expense | - | 151.81 | 151.58 | 142.42 | 139.13 |
| Research And Development | - | 57.75 | 57.13 | 49.73 | 47.94 |
| Selling General And Administration | - | 94.06 | 94.45 | 92.68 | 91.19 |
| Total Expenses | - | 421.76 | 445.22 | 446.05 | 450.67 |
| Operating Income | - | 8.15 | 2.38 | 0.50 | 7.84 |
| Total Operating Income As Reported | - | 8.15 | 2.38 | 0.50 | 7.84 |
| EBITDA | - | 11.64 | 8.37 | 5.71 | 20.24 |
| Normalized EBITDA | - | 14.26 | 9.25 | 9.57 | 20.07 |
| EBIT | - | 6.13 | 3.84 | -0.20 | 14.09 |
| Interest Income | - | - | - | 1.23 | 1.19 |
| Interest Expense | - | 8.13 | 10.63 | 11.62 | 12.95 |
| Net Interest Income | - | -8.13 | -10.63 | -10.39 | -11.76 |
| Other Non Operating Income Expenses | - | 0.36 | -0.23 | 0.09 | 0.17 |
| Other Income Expense | - | -2.02 | 1.46 | -1.93 | 5.06 |
| Interest Income Non Operating | - | - | - | 1.23 | 1.19 |
| Interest Expense Non Operating | - | 8.13 | 10.63 | 11.62 | 12.95 |
| Net Non Operating Interest Income Expense | - | -8.13 | -10.63 | -10.39 | -11.76 |
| Pretax Income | - | -2 | -6.79 | -11.82 | 1.13 |
| Tax Provision | - | 3.34 | 2.49 | 3.72 | 2.72 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.55 | -0.18 | -0.81 | 0.04 |
| Net Income Continuous Operations | - | -5.35 | -9.28 | -15.54 | -1.59 |
| Net Income From Continuing And Discontinued Operation | - | -5.35 | -9.28 | -15.54 | -1.59 |
| Net Income From Continuing Operation Net Minority Interest | - | -5.35 | -9.28 | -15.54 | -1.59 |
| Net Income | - | -5.35 | -9.28 | -15.54 | -1.59 |
| Net Income Common Stockholders | - | -5.35 | -9.28 | -15.54 | -1.59 |
| Net Income Including Noncontrolling Interests | - | -5.35 | -9.28 | -15.54 | -1.59 |
| Normalized Income | - | -3.28 | -8.59 | -12.50 | -1.73 |
| Diluted NI Availto Com Stockholders | - | -5.35 | -9.28 | -15.54 | -1.59 |
| Basic Average Shares | - | 92.10 | 94.88 | 98.27 | 102.77 |
| Diluted Average Shares | - | 92.10 | 94.88 | 98.27 | 102.77 |
| Reconciled Depreciation | - | 5.51 | 4.53 | 5.90 | 6.15 |
| Reconciled Cost Of Revenue | - | 269.95 | 293.64 | 303.63 | 311.54 |
| Total Unusual Items | - | -2.62 | -0.88 | -3.86 | 0.17 |
| Total Unusual Items Excluding Goodwill | - | -2.62 | -0.88 | -3.86 | 0.17 |
| Special Income Charges | - | 0 | 0 | 0 | 1.48 |
| Other Special Charges | 9.95 | - | - | - | -1.48 |
| Gain On Sale Of Security | - | -2.62 | -0.88 | -3.86 | -1.30 |
| General And Administrative Expense | - | 44.39 | 48.27 | 50.07 | 47.87 |
| Other Gand A | - | 44.39 | 48.27 | 50.07 | 47.87 |
| Selling And Marketing Expense | - | 49.66 | 46.18 | 42.62 | 43.32 |
| Earnings From Equity Interest | - | 0.24 | 2.57 | 1.84 | 4.71 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Accuray Incorporatedthis co. | ARAY | $43M | -27.33 | 0.54 | -2.0% | 8.03 |
| DocGo Inc. | DCGO | $56M | -0.31 | 0.39 | -126.7% | -0.47 |
| aTyr Pharma, Inc. | ATYR | $50M | -0.68 | 0.75 | -109.8% | -0.68 |
| Myomo, Inc. | MYO | $50M | -3.20 | 4.37 | -136.6% | -4.36 |
| Actuate Therapeutics, Inc. Common stock | ACTU | $46M | -2.09 |
| - |
| - |
| - |
| - |
| - |
| 5.86 |
| -280.5% |
| - |
| Gossamer Bio, Inc. | GOSS | $42M | -0.24 | -0.34 | 138.8% | -1.31 |
| Tevogen Bio Holdings Inc. | TVGN | $41M | -1.57 | -2.42 | 154.2% | -1.89 |
| INmune Bio Inc. | INMB | $36M | -0.78 | 1.53 | -195.3% | -0.40 |
| Tvardi Therapeutics, Inc. | TVRD | $29M | -1.59 | 1.38 | -87.0% | -0.31 |
| Peer Median | - | -1.18 | 1.06 | -118.2% | -0.68 | |