ACCURAY INC

Listed Company

ARAYCIK 0001138723NasdaqAcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusDelawareFY ends Jun 30

Period

FY 2025

Revenue

$458.50M

Net Income

$-1.59M

Total Assets

$470.24M

Equity

$81.17M

Shares Out

118.78M

Op. Cash Flow

$2.86M

Business

Accuray Incorporated is a radiation therapy company that develops, manufactures, sells and supports advanced systems and software to deliver precise radiation treatments for complex and common clinical cases. Its main products and services include the CyberKnife robotic radiosurgery platform, TomoTherapy-based solutions (Radixact, Accuray Helix, Tomo C), Accuray Precision treatment planning and iDMS data management, Synchrony AI-driven tracking, ClearRT imaging, and installation, training and post-contract customer support. The business is organized around robotic delivery, helical delivery, software/data management, and service offerings. Accuray markets directly in the United States and through regional offices and distributors across Western Europe, Japan, China, India, Canada and other international regions.

Summary from filing dated 2025-08-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Revenue	459	447	448	430	396
Total cost of revenue	312	304	294	270	237
Gross profit	147	143	154	160	160
Research and development	48	50	57	58	53
Selling and marketing	43	43	46	50	43
General and administrative	48	50	48	44	42
Total operating expenses	139	142	152	152	137
Income from operations	8	504,000	2	8	22
Income from equity method investment	5	2	3	241,000	872,000
Interest expense	−13	−12	−11	−8	—
Gain on extinguishment of debt	1	0	—	—	—
Loss from change in fair value of warrant liability	−499,000	0	—	—	—
Other income (expense), net	559,000	−3	−1	−2	−28
Income (loss) before provision for income taxes	1	−12	−7	−2	−5
Provision for income taxes	3	4	2	3	2
Net loss	−2	−16	−9	−5	−6
Net loss per share, Basic	−0.02	−0.16	−0.1	−0.06	−0.07
Net loss per share, Diluted	−0.02	−0.16	−0.1	−0.06	−0.07
Basic	103	98	95	92	92
Diluted	103	98	95	92	92
Foreign currency translation adjustment	2	−2	−791,000	−4	2
Change in defined benefit pension obligation	828,000	−2	−1	4	872,000
Comprehensive income (loss)	794,000	−20	−11	−5	−4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	57	69	89	89	116
Restricted cash	574,000	485,000	524,000	204,000	560,000
Accounts receivable, net of allowance for credit losses of $369 and $2.251 as of June 30, 2025 and June 30, 2024, respectively	83	92	75	94	85
Inventories	141	138	145	142	126
Prepaid expenses and other current assets	34	23	28	24	22
Deferred cost of revenue	2	850,000	568,000	1	3
Total current assets	317	323	338	351	353
Property and equipment, net	29	25	21	13	12
Investment in joint venture	5	10	15	14	16
Operating lease right-of-use assets, net	33	34	26	17	23
Goodwill	58	58	58	58	58
Restricted cash	4	1	1	1	1
Other assets	24	18	20	19	17
Total assets	470	469	479	473	480
Accounts payable	34	50	34	31	19
Accrued compensation	15	17	24	29	27
Operating lease liabilities	7	6	4	9	8
Other accrued liabilities	29	29	38	30	27
Customer advances	12	14	21	25	25
Deferred revenue	82	72	72	75	82
Short-term debt, net	13	8	6	9	4
Total current liabilities	193	195	199	209	192
Operating lease liabilities	32	32	24	10	17
Long-term other liabilities	5	7	5	4	8
Warrant liability	8	0	—	—	—
Deferred revenue	27	24	27	25	24
Long-term debt, net	124	164	172	172	170
Total liabilities	389	424	426	420	411
Commitments and contingencies (Note 8)	—	—	—	—	—
Common stock, $0.001 par value; authorized: 200,000,000 shares as of June 30, 2025 and June 30, 2024, respectively; issued and outstanding: 112,643,852 and 100,194,932 shares at June 30, 2025 and June 30, 2024, respectively	113,000	100,000	97,000	94,000	91,000
Additional paid-in-capital	602	567	555	543	555
Accumulated other comprehensive loss	−2	−4	422,000	2	2
Accumulated deficit	−519	−518	−502	−493	−488
Total stockholders' equity	81	45	54	53	69
Total liabilities and stockholders equity	470	469	479	473	480

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net loss	−2	−16	−9	−5	−6
Depreciation and amortization	6	6	5	6	6
Share-based compensation	10	9	10	11	9
Amortization of debt financing costs and discount for warrants issued to lenders	1	955,000	—	—	—
Non-cash interest paid-in-kind	616,000	0	—	—	—
Recovery from credit losses	−101,000	−479,000	2	266,000	133,000
Provision for write-down of inventories	2	6	4	3	7
Income on equity method investment	−5	−2	−3	−241,000	−872,000
Net deferred profit margin on sales to the JV	8	4	282,000	3	—
Provision for deferred income taxes	156,000	1	456,000	2	−114,000
Accounts receivable	13	−16	18	−13	5
Inventories	−9	−4	−7	−23	2
Prepaid expenses and other assets	−3	6	−4	−6	−951,000
Deferred cost of revenue	−912,000	−275,000	891,000	2	−296,000
Accounts payable	−19	17	3	12	−4
Operating lease liabilities, net of operating lease right-of-use assets	620,000	321,000	−324,000	−880,000	−663,000
Accrued liabilities	−6	−17	887,000	7	8
Customer advances	−2	−7	−5	1	2
Deferred revenues	7	−2	−3	−1	−4
Net cash provided by (used in) operating activities	3	−12	16	−2	39
Purchases of property and equipment, net	−4	−4	−13	−5	−2
Capitalized costs for software to be sold	−4	0	—	—	—
Net cash used in investing activities	−9	−4	−13	−5	−2
Proceeds from the issuance of common stock to employees	2	2	2	4	3
Taxes paid related to net share settlement of equity awards	−90,000	−117,000	−199,000	−258,000	−343,000
Proceeds from Term Loan due 2030	150	0	0	0	80
Debt issuance costs	−13	−81,000	−248,000	0	−1
Paydown of Prior Convertible Notes	−69	0	—	—	—
Paydown of Prior Term Loan Facility	−64	−6	—	—	—
Borrowings under the Revolving Credit Facility	27	5	5	0	25
Repayments under the Revolving Credit Facility	−37	−5	0	−15	−5
Net cash used in financing activities	−4	−4	−2	−15	−29
Effect of exchange rate changes on cash, cash equivalents and restricted cash	2	−1	302,000	−6	982,000
Net decrease in cash, cash equivalents and restricted cash	−8	−21	1	−28	8
Cash paid for income taxes	4	2	2	1	2
Cash paid for interest	10	11	10	7	12
Fair value of stock issued to settle Convertible Notes	11	0	—	—	—
Fair value of warrants issued with debt	21	0	—	—	—
Unpaid purchase of property and equipment at end of year	888,000	445,000	2	813,000	555,000
Unpaid capitialized software costs at end of year	258,000	0	—	—	—
Transfers from inventory to property and equipment	4	3	303,000	0	564,000
Transfer of inventory to other assets	1	0	—	—	—
Transfer of Lease Liabilities to Leaseholds Improvement	1	3	—	—	—
Transfer of other assets to property and equipment	242,000	0	—	—	—

Filings

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