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Dec 31, 2023
Accuray Q2 2024 Earnings Report
Accuray's Q2 2024 financial results were reported, featuring order growth and service revenue expansion, while confirming the FY24 guidance.
Key Takeaways
Accuray reported a decrease in revenue by 7% year-over-year to $107.2 million, but gross orders increased by 19% to $93.9 million. The company's GAAP net loss was $9.6 million, compared to a net loss of $1.9 million in the same period last year.
Net revenue decreased 7 percent year-over-year to $107.2 million.
Gross orders increased 19 percent year-over-year to $93.9 million.
GAAP net loss was $9.6 million, compared to a net loss of $1.9 million in the same period last year.
Service revenue increased 8 percent year-over-year.
Revenue by Segment
Forward Guidance
Accuray reaffirmed its fiscal year 2024 guidance, expecting total revenue in the range of $460 million to $470 million, representing a year-over-year growth range of 3 to 5 percent, and adjusted EBITDA in the range of $27 million to $30 million. The company expects third quarter of fiscal 2024 revenue to be in the range of $112 million to $118 million with an expected adjusted EBITDA range of $6 million to $9 million for the same period.
Positive Outlook
- Total revenue is expected in the range of $460 million to $470 million, representing a year-over-year growth range of 3 to 5 percent.
- Adjusted EBITDA for fiscal year 2024 is expected in the range of $27 million to $30 million.
- Company expects third quarter of fiscal 2024 revenue to be in the range of $112 million to $118 million.
- Expected adjusted EBITDA range of $6 million to $9 million for the third quarter.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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