ACCURAY INC Leases Disclosure
Note 4. Leases
The Company has operating leases for corporate offices and warehouse facilities worldwide. Additionally, the Company leases cars and copy machines that are considered operating leases. Some of the Company’s leases are non-cancellable operating lease agreements with various expiration dates through August 2035. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised, and therefore are not factored into the determination of lease payments.
The following table provides information related to the Company’s operating leases (in thousands):
|
|
Years Ended June 30, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Operating lease costs (1) |
|
$ |
8,980 |
|
|
$ |
9,146 |
|
Short-term operating lease costs |
|
|
286 |
|
|
|
305 |
|
Cash paid for amounts included in the measurement of lease liabilities |
|
|
8,011 |
|
|
|
9,013 |
|
Operating lease right-of-use assets and operating lease obligations are represented in the table below (in thousands):
|
|
June 30, |
|
|
June 30, |
|
||
Beginning balance operating lease right-of-use assets |
|
$ |
33,773 |
|
|
$ |
25,853 |
|
Lease assets added |
|
|
4,624 |
|
|
|
14,389 |
|
Amortization for the year |
|
|
(5,282 |
) |
|
|
(6,469 |
) |
Ending balance operating lease right-of-use assets |
|
$ |
33,115 |
|
|
$ |
33,773 |
|
|
|
|
|
|
|
|
||
Beginning balance operating lease obligations |
|
$ |
38,591 |
|
|
$ |
27,753 |
|
Lease liabilities added |
|
|
5,726 |
|
|
|
16,775 |
|
Repayment and interest accretion |
|
|
(4,460 |
) |
|
|
(5,937 |
) |
Ending balance operating lease obligations |
|
$ |
39,857 |
|
|
$ |
38,591 |
|
|
|
|
|
|
|
|
||
Current portion of operating lease obligations |
|
$ |
7,375 |
|
|
$ |
6,218 |
|
Noncurrent portion of operating lease obligations |
|
$ |
32,482 |
|
|
$ |
32,373 |
|
The weighted-average remaining lease term and weighted-average discount rate for operating leases were as follows:
|
|
June 30, |
|
|
June 30, |
|
||
Weighted average remaining lease term (in years) |
|
|
7.8 |
|
|
|
8.2 |
|
Weighted average discount rate |
|
|
10.4 |
% |
|
|
10.4 |
% |
Maturities of operating lease liabilities as of June 30, 2025, are presented in the table below (in thousands):
Year Ending June 30, |
|
Amount |
|
|
2026 |
|
$ |
7,201 |
|
2027 |
|
|
8,257 |
|
2028 |
|
|
7,135 |
|
2029 |
|
|
5,515 |
|
2030 |
|
|
4,789 |
|
Thereafter |
|
|
24,948 |
|
Total operating lease payments |
|
|
57,845 |
|
Less: imputed interest |
|
|
(17,988 |
) |
Present value of operating lease liabilities |
|
$ |
39,857 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 28, 2025 | Showing above |
| 2024 | Sep 19, 2024 | |
| 2023 | Sep 7, 2023 | |
| 2022 | Aug 17, 2022 | |
| 2021 | Aug 17, 2021 | |
| 2020 | Aug 25, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.