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Sep 30, 2022
Accuray Q1 2023 Earnings Report
Reported financial results for the first quarter of fiscal 2023, navigating FX and supply chain challenges.
Key Takeaways
Accuray reported a decrease in revenue by 10% compared to the same period in the prior fiscal year, mainly driven by supply chain constraints and foreign exchange headwinds. The company is re-affirming guidance for fiscal year 2023.
Gross orders of $69.8 million, were flat versus the prior fiscal year.
Net revenue of $96.5 million represents a decrease of 10% versus the same period in the prior fiscal year mainly driven by supply chain constraints and a $5.8 million foreign exchange headwind.
GAAP net loss of $5.4 million as compared to GAAP net loss of $1.0 million in the prior fiscal year period.
Adjusted EBITDA of $1.9 million as compared to adjusted EBITDA of $5.4 million in the prior fiscal year period
Revenue by Segment
Forward Guidance
Accuray is re-affirming guidance for fiscal year 2023. Total revenue is expected in the range of $447.0 million to $455.0 million, representing a year-over-year growth at the midpoint of the range of 5%. Adjusted EBITDA is expected in the range of $26.0 million to $30.0 million.
Positive Outlook
- Total revenue is expected in the range of $447.0 million to $455.0 million
- Revenue growth at the midpoint of the range of 5%
- Adjusted EBITDA is expected in the range of $26.0 million to $30.0 million
Challenges Ahead
- statements are forward-looking and actual results could differ materially depending on market conditions
- impact of the current global economic environment and the Covid-19 pandemic
- supply chain disruption
- the factors set forth under “Safe Harbor Statement” below
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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