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Mar 31, 2023
Accuray Q3 2023 Earnings Report
Accuray delivered record quarterly revenue and unit volume in Q3 and reiterated fiscal year guidance.
Key Takeaways
Accuray reported a strong third quarter with a 22.8% increase in net revenue to $118.1 million and a GAAP net income of $0.6 million, driven by growing global demand for its radiotherapy solutions. The company shipped a record 30 systems and achieved its 1,000+ installed system milestone.
Net revenue increased 22.8 percent to $118.1 million compared to the same period in the prior fiscal year.
GAAP net income was $0.6 million, compared to a GAAP net loss of $1.0 million in the same period in the prior fiscal year.
Adjusted EBITDA increased 53.5 percent to $8.3 million compared to the same period in the prior fiscal year.
Shipped 30 systems, a new quarterly record, representing a 67 percent increase compared to the prior year period.
Accuray
Accuray
Accuray Revenue by Segment
Revenue by Segment
Products Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
Accuray reaffirmed its fiscal year 2023 guidance, expecting total revenue in the range of $447.0 million to $455.0 million and adjusted EBITDA 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, representing a year-over-year growth at the midpoint of the range of 5 percent.
- Adjusted EBITDA is expected in the range of $26.0 million to $30.0 million.
Challenges Ahead
- Actual results could differ materially depending on market conditions.
- The impact of the current global economic environment and the Covid-19 pandemic could impact results.
- Supply chain disruption could negatively impact results.
- The company's ability to navigate macroeconomic challenges could impact results.
- Foreign exchange challenges could negatively impact results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income