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Sep 30
Accuray Q1 2026 Earnings Report
Accuray reported its fiscal 2026 first quarter financial results, showing a decrease in total net revenue and a significant net loss, alongside strategic transformation efforts and new product introductions.
Key Takeaways
Accuray experienced a challenging first quarter of fiscal 2026 with total net revenue decreasing by 7% to $93.9 million and a net loss of $21.7 million, or $0.18 per share. Product revenue saw a substantial 23% decline, while service revenue increased by 7%. The company initiated a restructuring plan and introduced the Accuray Stellar™ Solution, aiming for future growth amidst soft current results.
Total net revenue for Q1 fiscal 2026 was $93.9 million, a 7% decrease compared to the prior year.
The company reported a net loss of $21.7 million, or $0.18 per share, significantly wider than the $4.0 million loss in the prior year.
Product revenue declined by 23% to $37.2 million, while service revenue increased by 7% to $56.8 million.
Accuray initiated a restructuring plan, incurring $2.8 million in charges, and introduced the Accuray Stellar™ Solution in the U.S. market.
Accuray
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Accuray Revenue by Segment
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CapyFin.comServices Revenue
CapyFin.com Forward Guidance
Accuray reaffirmed its fiscal year 2026 guidance, expecting total net revenue between $471 million and $485 million and adjusted EBITDA in the range of $31 million to $35 million.
Positive Outlook
- Total net revenue is projected to be between $471 million and $485 million for fiscal year 2026.
- Adjusted EBITDA is expected to be in the range of $31 million to $35 million for fiscal year 2026.
- The company is undergoing accelerated transformation efforts, including new leadership appointments.
- Introduction of the Accuray Stellar™ Solution is expected to contribute to future growth, particularly in the U.S. market.
- Continued expansion of CyberKnife® and Radixact® Systems into new hospitals and markets.
Challenges Ahead
- The company reported a significant net loss in the first quarter, indicating ongoing financial challenges.
- Product revenue experienced a substantial decrease in the current quarter.
- Restructuring charges and one-time post-close financing expenses impacted operating expenses.
- The decrease in gross margin rate was due to geographic sales mix and joint venture accounting.
- Order backlog as of September 30, 2025, was approximately 16 percent lower than the prior fiscal year first quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income