ACCURAY INC ARAY
Accuray Incorporated is a radiation therapy company that develops, manufactures, sells and supports treatment delivery, planning, imaging and data management solutions designed to help clinical teams deliver precise radiation treatments across a broad range of clinical cases. Our portfolio includes the CyberKnife robotic platform and a differentiated helical portfolio that includes the Accuray Stellar, Radixact, Accuray Helix and Tomo C Systems, where available. We believe these solutions provide clinicians with advanced capabilities to support accuracy, flexibility, motion management, image guidance, adaptive workflows and personalized treatment delivery.
Our solutions are designed to support clinical teams during individual treatments, across the treatment workflow and throughout the patient treatment journey, from curative to palliative care. Across our robotic and helical platforms, our solutions include:
Valuation FY2026 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- Eimea
- Americas
- China
- Asia Pacific
- Japan
| Region | FY2026 | FY2025 |
|---|---|---|
| Eimea | $150.9M | $144.3M |
| Americas | $90.0M | $88.8M |
| China | $68.1M | $124.5M |
| Asia Pacific | $48.7M | $47.4M |
| Japan | $44.3M | $53.6M |
As the company reported it, from the “Note 14 - Segment Disclosure - Revenue by Geographic Area (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $401.9M | $458.5M | $446.6M | $447.6M | $429.9M | $396.3M | $382.9M | $418.8M | $404.9M | $383.4M |
| Cost of revenue | $290.5M | $311.5M | $303.6M | $293.6M | $270.0M | $236.8M | $233.2M | $256.1M | $243.2M | $242.1M |
| Gross profit | $111.5M | $147.0M | $142.9M | $154.0M | $160.0M | $159.5M | $149.7M | $162.7M | $161.7M | $141.3M |
| R&D | $37.8M | $47.9M | $49.7M | $57.1M | $57.8M | $52.7M | $49.8M | $56.5M | $57.3M | $49.9M |
| SG&A | $45.4M | $47.9M | $50.1M | $48.3M | $44.4M | $41.7M | $40.1M | $49.6M | $48.1M | $43.8M |
| Total operating expenses | $137.9M | $139.1M | $142.4M | $151.6M | $151.8M | $137.3M | $137.2M | $162.1M | $165.5M | $151.2M |
| Operating income | -$26.4M | $7.8M | $504.0K | $2.4M | $8.1M | $22.2M | $12.5M | $583.0K | -$3.8M | -$9.8M |
| Interest expense | $32.9M | $13.0M | $11.6M | $10.6M | $8.1M | $16.9M | $18.1M | $15.1M | $15.0M | — |
| Pre-tax income | -$47.2M | $1.1M | -$11.8M | -$6.8M | -$2.0M | -$4.6M | $5.7M | -$14.3M | -$23.0M | -$28.5M |
| Income tax | $1.9M | $2.7M | $3.7M | $2.5M | $3.3M | $1.8M | $1.9M | $2.1M | $878.0K | $1.0M |
| Net income | -$49.2M | -$1.6M | -$15.5M | -$9.3M | -$5.3M | -$6.3M | $3.8M | -$16.4M | -$23.9M | -$29.6M |
| EPS, basic | -0.40 | -0.02 | -0.16 | -0.10 | -0.06 | -0.07 | 0.04 | -0.19 | -0.28 | — |
| EPS, diluted | — | -0.02 | -0.16 | -0.10 | -0.06 | -0.07 | 0.04 | -0.19 | -0.28 | -0.36 |
| Shares, diluted (wtd. avg.) | 122.6M | 102.8M | 98.3M | 94.9M | 92.1M | 92.0M | 90.6M | 87.5M | 84.9M | — |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $40.6M | $57.4M | $68.6M | $91.2M | $90.2M | $118.2M | $109.9M | $88.2M | $93.5M | $85.2M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $23.9M |
| Receivables | $67.4M | $83.2M | $92.0M | $74.8M | $94.4M | $85.4M | $90.6M | $111.9M | $66.0M | $72.8M |
| Inventory | $147.1M | $141.0M | $138.3M | $145.2M | $142.3M | $125.9M | $134.4M | $120.8M | $108.5M | $105.1M |
| Total current assets | $287.8M | $317.5M | $323.2M | $338.0M | $350.9M | $352.8M | $357.5M | $344.1M | $284.2M | $309.0M |
| Property, plant and equipment | $27.3M | $28.7M | $24.8M | $20.9M | $12.7M | $12.3M | $15.3M | $17.1M | $23.7M | $23.1M |
| Goodwill | $57.9M | $57.8M | $57.7M | $57.7M | $57.8M | $58.0M | $57.7M | $57.8M | $57.9M | $57.8M |
| Other intangibles | $0 | $15.0K | $59.0K | $210.0K | $250.0K | $435.0K | $663.0K | $679.0K | $821.0K | $964.0K |
| Total assets | $443.7M | $470.2M | $468.6M | $479.2M | $472.8M | $480.1M | $490.9M | $438.2M | $378.7M | $406.5M |
| Accounts payable | $40.6M | $34.0M | $50.0M | $33.7M | $31.3M | $19.5M | $23.1M | $29.6M | $19.7M | $17.5M |
| Short-term debt | $1.5M | $12.7M | $7.8M | $5.7M | $8.6M | $3.8M | — | — | — | $113.0M |
| Total current liabilities | $191.4M | $192.6M | $195.3M | $198.6M | $208.9M | $192.4M | $182.3M | $192.2M | $169.4M | $284.5M |
| Long-term debt | $146.4M | $123.8M | $164.4M | $171.6M | $171.9M | $170.0M | $189.3M | $159.8M | $131.1M | $51.5M |
| Total liabilities | $402.0M | $389.1M | $423.5M | $425.6M | $419.7M | $411.3M | $427.3M | $388.3M | $330.1M | $359.9M |
| Retained earnings | -$568.5M | -$519.3M | -$517.7M | -$502.1M | -$492.5M | -$488.0M | -$481.7M | -$485.5M | -$474.3M | -$450.4M |
| Total equity | $41.7M | $81.2M | $45.1M | $53.7M | $53.2M | $68.8M | $63.6M | $49.9M | $48.6M | $46.5M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.0M | $2.9M | -$11.9M | $15.5M | -$2.4M | $38.5M | -$1.5M | -$29.6M | $18.3M | -$380.0K |
| Depreciation and amortisation | $7.9M | $6.2M | $5.9M | $4.5M | $5.5M | $6.4M | $7.5M | $10.5M | $9.7M | $18.0M |
| Stock-based compensation | $6.5M | $10.2M | $9.5M | $10.1M | $10.6M | $9.3M | $8.2M | $10.6M | $12.3M | $13.6M |
| Capital expenditure | $5.9M | $4.3M | $3.6M | $12.6M | $4.7M | $2.3M | $3.6M | $4.3M | $6.3M | $5.0M |
| Investing cash flow | -$12.3M | -$8.5M | -$3.6M | -$12.7M | -$4.7M | -$2.4M | -$3.7M | -$4.3M | $17.8M | $17.8M |
| Financing cash flow | $7.0M | -$4.3M | -$4.0M | -$2.1M | -$15.4M | -$28.8M | $26.7M | $28.5M | -$27.5M | -$54.5M |
| Buybacks | — | $14.1M | $14.1M | $14.1M | $0 | $14.1M | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-029098.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $383.4M | $404.9M | $418.8M | $382.9M | $396.3M | $429.9M | $447.6M | $446.6M | $458.5M | $401.9M |
| Gross profit | $141.3M | $161.7M | $162.7M | $149.7M | $159.5M | $160.0M | $154.0M | $142.9M | $147.0M | $111.5M |
| Net income | -$29.6M | -$23.9M | -$16.4M | $3.8M | -$6.3M | -$5.3M | -$9.3M | -$15.5M | -$1.6M | -$49.2M |
Recent filings and events
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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