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
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.
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