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Mar 31, 2022
Accuray Q3 2022 Earnings Report
Reported a decrease in revenue and a net loss compared to the prior year.
Key Takeaways
Accuray reported a decrease in revenue and a net loss for the third quarter of fiscal year 2022. Total net revenue was $96.2 million, a 6% decrease compared to the prior year. The company experienced a net loss of $1.0 million, compared to a net loss of $0.4 million in the prior year.
Gross orders increased by 1% to $88.6 million compared to the prior year.
Net revenue decreased by 6% to $96.2 million compared to the prior year.
GAAP net loss was $1.0 million, compared to a net loss of $0.4 million in the prior year.
Adjusted EBITDA was $5.4 million, compared to $8.7 million in the prior year.
Accuray
Accuray
Forward Guidance
Accuray re-affirmed its financial guidance for fiscal year 2022.
Positive Outlook
- Total revenue is expected in the range of $420.0 million to $430.0 million, representing a year-over-year growth at the midpoint of the range of 7%.
- Adjusted EBITDA is expected in the range of $15.0 million to $20.0 million.
- Guidance for non-GAAP financial measures excludes depreciation and amortization.
- Guidance excludes stock-based compensation expense.
- Guidance excludes interest expense and provision for income taxes.
Challenges Ahead
- Actual results could differ materially depending on market conditions.
- The impact of the Covid-19 pandemic could affect results.
- Supply chain disruption could affect results.
- The factors set forth under “Safe Harbor Statement” could affect results.
- There is no guarantee the company will meet its financial targets.