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Dec 31, 2019
Accuray Q2 2020 Earnings Report
Accuray's financial results for the second quarter of fiscal year 2020 were reported.
Key Takeaways
Accuray reported solid financial and operational results for Q2 2020, with net revenue of $98.8 million and net income of $10.7 million. Gross orders totaled $98.6 million and backlog increased 12% year over year to $539.4 million. Adjusted EBITDA was $7.1 million.
Gross orders totaled $98.6 million, including 11 orders from China.
Net orders increased 30% year over year, reaching $89.9 million.
Total backlog increased 12 percent year over year to $539.4 million.
Net revenue was $98.8 million, with net income at $10.7 million and Adjusted EBITDA at $7.1 million.
Accuray
Accuray
Accuray Revenue by Segment
Revenue by Segment
Products Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
Accuray reaffirmed revenue guidance and updated adjusted EBITDA guidance for fiscal year 2020. Total revenue for fiscal year 2020 is expected to range between $410.0 and $420.0 million. Adjusted EBITDA is expected to range between $21.0 to $26.0 million.
Positive Outlook
- Company expects to generate revenue growth during the second half of fiscal year 2020 compared to the second half of the prior fiscal year.
- Adjusted EBITDA for fiscal year 2020 is expected to range between $21.0 to $26.0 million, which includes approximately $1.0 million of the Company’s share of expected loss from the joint venture operations in China.
- This is adjusted from the previous range of $19.0 million to $24.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income