Accuray Q2 revenue falls 12%, swings to net loss

Overview

• Radiation therapy firm's Q2 revenue fell 12% yr/yr

• Company reported a net loss of $13.8 mln for Q2 compared to net income of $2.5 mln a year ago

• Company initiated restructuring plan, incurring $6.1 mln in charges

Outlook

• Accuray expects fiscal year 2026 revenue between $440 mln and $450 mln

• Company projects adjusted EBITDA for fiscal year 2026 between $22 mln and $25 mln

• Accuray anticipates $13 mln in restructuring charges for fiscal year 2026

Result Drivers

• RESTRUCTURING PLAN - Accuray initiated a restructuring plan to reduce costs and streamline operations, incurring $6.1 mln in charges

• PRODUCT REVENUE DECLINE - Product revenue decreased by 26% due to lower deliveries from China joint venture

• SERVICE REVENUE INCREASE - Service revenue increased by 4% compared to the prior year

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."

• Wall Street's median 12-month price target for Accuray Inc is $3.88, about 415.5% above its February 3 closing price of $0.75

Press Release: ID:nPn8fb4sZa

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