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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% | - |
| 2024 | $447M | $6M | $-16M | $-16M | -34.5% | -0.2% | - |
| 2023 | $448M | $8M | $-9M | $3M | -17.3% | 4.1% | - |
| 2022 | $430M | $12M | $-5M | $-7M | -10.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 429.91 | 447.61 | 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 |
| Operating Income | 8.15 | 2.38 | 0.50 | 7.84 |
| EBITDA | 11.64 | 8.37 | 5.71 | 20.24 |
| EBIT | 6.13 | 3.84 | -0.20 | 14.09 |
| Pretax Income | -2 | -6.79 | -11.82 | 1.13 |
| Tax Provision | 3.35 | 2.49 | 3.73 | 2.73 |
| Net Income | -5.35 | -9.28 | -15.54 | -1.59 |
| Net Income Common Stockholders | -5.35 | -9.28 | -15.54 | -1.59 |
| Total Expenses | 421.76 | 445.22 | 446.05 | 450.67 |
| Interest Expense | 8.13 | 10.63 | 11.62 | 12.95 |
| Interest Income | 0 | 0 | 1.23 | 1.19 |
| Research And Development | 57.75 | 57.13 | 49.73 | 47.94 |
| Selling General And Administration | 94.06 | 94.45 | 92.69 | 91.19 |
| Normalized EBITDA | 14.26 | 9.25 | 9.57 | 20.07 |
| Normalized Income | -3.28 | -8.59 | -12.50 | -1.73 |
| Basic EPS | -0.06 | -0.10 | -0.16 | -0.02 |
| Diluted EPS | -0.06 | -0.10 | -0.16 | -0.02 |
| Tax Effect Of Unusual Items | -0.55 | -0.18 | -0.81 | 0.04 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | -2.62 | -0.88 | -3.86 | 0.17 |
| Total Unusual Items Excluding Goodwill | -2.62 | -0.88 | -3.86 | 0.17 |
| Net Income From Continuing Operation Net Minority Interest | -5.35 | -9.28 | -15.54 | -1.59 |
| Reconciled Depreciation | 5.51 | 4.53 | 5.91 | 6.15 |
| Reconciled Cost Of Revenue | 269.95 | 293.64 | 303.63 | 311.54 |
| Net Interest Income | -8.13 | -10.63 | -10.39 | -11.76 |
| Net Income From Continuing And Discontinued Operation | -5.35 | -9.28 | -15.54 | -1.59 |
| Total Operating Income As Reported | 8.15 | 2.38 | 0.50 | 7.84 |
| Diluted Average Shares | 92.09 | 94.88 | 98.27 | 102.77 |
| Basic Average Shares | 92.09 | 94.88 | 98.27 | 102.77 |
| Diluted NI Availto Com Stockholders | -5.35 | -9.28 | -15.54 | -1.59 |
| Net Income Including Noncontrolling Interests | -5.35 | -9.28 | -15.54 | -1.59 |
| Net Income Continuous Operations | -5.35 | -9.28 | -15.54 | -1.59 |
| Other Income Expense | -2.02 | 1.46 | -1.93 | 5.06 |
| Other Non Operating Income Expenses | 0.36 | -0.23 | 0.09 | 0.17 |
| Special Income Charges | 0 | 0 | 0 | 1.48 |
| Other Special Charges | 0 | 0 | 0 | -1.48 |
| Earnings From Equity Interest | 0.24 | 2.57 | 1.84 | 4.71 |
| Gain On Sale Of Security | -2.62 | -0.88 | -3.86 | -1.30 |
| Net Non Operating Interest Income Expense | -8.13 | -10.63 | -10.39 | -11.76 |
| Interest Expense Non Operating | 8.13 | 10.63 | 11.62 | 12.95 |
| Interest Income Non Operating | 0 | 0 | 1.23 | 1.19 |
| Selling And Marketing Expense | 49.66 | 46.18 | 42.62 | 43.31 |
| General And Administrative Expense | 44.39 | 48.27 | 50.07 | 47.87 |
| Other Gand A | 44.39 | 48.27 | 50.07 | 47.87 |
| Operating Revenue | 429.91 | 447.61 | 446.55 | 458.50 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Accuray Incorporatedthis co. | ARAY | $50M | - | 0.94 | -2.0% | -107.66 |
| DocGo Inc. | DCGO | $70M | - | 0.48 | -144.9% | -0.41 |
| Actuate Therapeutics, Inc. Common stock | ACTU | $68M | - | 8.45 | -280.5% | - |
| LENSAR, Inc. | LNSR | $65M | - | -2.48 | 131.7% | -3.17 |
| Pulmonx Corporation | LUNG | $51M | - |
| 0.92 |
| -99.8% |
| -0.71 |
| INmune Bio Inc. | INMB | $35M | - | 1.50 | -195.3% | -0.38 |
| Myomo, Inc. | MYO | $31M | - | 2.68 | -136.6% | -2.33 |
| Tvardi Therapeutics, Inc. | TVRD | $29M | - | 1.37 | -87.0% | 0.07 |
| Tevogen Bio Holdings Inc. | TVGN | $27M | - | -1.52 | 319.1% | -1.64 |
| Peer Median | - | - | 1.15 | -118.2% | -0.71 | |