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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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