Accuray Incorporated is a medical device company that develops, manufactures, and sells advanced radiation therapy systems for cancer treatment. Headquartered in Madison, Wisconsin, the company is best known for its CyberKnife and TomoTherapy platforms, which deliver highly precise stereotactic radiosurgery and radiation therapy. Accuray serves hospitals and standalone oncology treatment facilities worldwide.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
458,505
446,551
447,605
429,909
Cost of Sales
311,538
303,630
293,645
269,954
Gross Profit
146,967
142,921
153,960
159,955
Selling, General & Administrative Expenses
91,186
92,685
94,449
94,055
Research & Development Expenses
47,942
49,732
57,129
57,752
Operating Profit
7,839
504
2,382
8,148
Interest and Investment Income
4,714
1,838
2,572
241
Interest Expense
(12,954)
(11,624)
(10,632)
(8,129)
Non-Operating Income
1,535
(2,538)
(1,110)
(2,262)
Total Non-Operating Income
(6,705)
(12,324)
(9,170)
(10,150)
Income Before Provision for Income Taxes
1,134
(11,820)
(6,788)
(2,002)
Provision for Income Taxes
2,725
3,725
2,492
3,345
Consolidated Net Income
(1,591)
(15,545)
(9,280)
(5,347)
Net Income Attributable to Common Shareholders
(1,591)
(15,545)
(9,280)
(5,347)
Basic EPS
-0.02
-0.16
-0.10
-0.06
Diluted EPS
-0.02
-0.16
-0.10
-0.06
Basic Weighted Average Shares Outstanding
102,768
98,272
94,884
92,095
Diluted Weighted Average Shares Outstanding
102,768
98,272
94,884
92,095
Shares Outstanding
112,644
100,195
96,535
93,500
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
57,990
69,055
89,926
88,941
Total Cash and Cash Equivalents
57,990
69,055
89,926
88,941
Accounts Receivable
83,192
92,001
74,777
94,442
Total Trade Receivables
83,192
92,001
74,777
94,442
Inventories
141,020
138,324
145,150
142,254
Other Current Assets
35,263
23,856
28,180
25,253
Total Current Assets
317,465
323,236
338,033
350,890
Net Property, Plant & Equipment
61,773
58,547
46,779
29,483
Net Intangible Assets
—
—
210
250
Goodwill
57,802
57,672
57,681
57,840
Long-Term Investments
4,612
9,826
15,128
13,879
Other Long-Term Assets
28,587
19,346
21,383
20,507
Total Assets
470,239
468,627
479,214
472,849
Accounts Payable
34,033
50,020
33,739
31,337
Accrued Expenses
43,934
45,636
62,064
59,726
Short-Term Debt
12,734
7,756
5,721
8,563
Current Portion of Leases
7,375
6,218
4,151
8,567
Unearned Revenue
94,503
85,637
92,962
100,665
Total Current Liabilities
192,579
195,267
198,637
208,858
Long-Term Debt
123,786
164,400
171,562
171,907
Leases
32,482
32,373
23,602
10,453
Other Long-Term Liabilities
40,223
31,503
31,754
28,442
Total Long-Term Liabilities
196,491
228,276
226,918
210,802
Total Liabilities
389,070
423,543
425,555
419,660
Common Stock
113
100
97
94
Additional Paid-in Capital
602,165
566,887
555,276
543,211
Accumulated Other Comprehensive Income
(1,837)
(4,222)
422
2,406
Retained Earnings
(519,272)
(517,681)
(502,136)
(492,522)
Total Common Shareholders' Equity
81,169
45,084
53,659
53,189
Total Shareholders' Equity
81,169
45,084
53,659
53,189
Total Liabilities and Shareholders' Equity
470,239
468,627
479,214
472,849
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(1,591)
(15,545)
(9,280)
(5,347)
Depreciation & Amortization
6,150
5,905
4,527
5,513
Share-Based Compensation Expense
10,201
9,484
10,053
10,600
Other Adjustments
6,302
10,160
5,616
9,433
Changes in Trade Receivables
13,356
(15,826)
18,488
(12,519)
Changes in Inventories
(9,109)
(3,998)
(6,855)
(22,861)
Changes in Accounts Payable
(18,674)
17,365
2,850
11,676
Changes in Accrued Expenses
(5,906)
(16,506)
887
6,685
Changes in Unearned Revenue
4,965
(9,105)
(7,285)
(207)
Changes in Other Operating Activities
(2,834)
6,162
(3,462)
(5,373)
Cash from Operating Activities
2,860
(11,904)
15,539
(2,400)
Capital Expenditure
(4,272)
(3,601)
(12,614)
(4,717)
Purchases of Intangible Assets
(4,251)
—
(67)
—
Cash from Investing Activities
(8,523)
(3,601)
(12,681)
(4,717)
Issuance of Short-Term Debt
27,000
5,000
5,000
—
Repayments of Short-Term Debt
(37,000)
(5,000)
—
(15,000)
Net Issuance / (Repayments) of Short-Term Debt
(10,000)
0
5,000
(15,000)
Issuance of Long-Term Debt
150,000
—
—
—
Repayments of Long-Term Debt
(132,500)
(6,000)
(8,865)
(4,000)
Net Issuance / (Repayments) of Long-Term Debt
17,500
(6,000)
(8,865)
(4,000)
Issuance of Common Shares
1,627
2,247
2,200
3,889
Repurchases of Common Shares
(90)
(117)
(199)
(258)
Net Issuance / (Repurchases) of Common Shares
1,537
2,130
2,001
3,631
Other Financing Activities
(13,289)
(81)
(248)
—
Cash from Financing Activities
(4,252)
(3,951)
(2,112)
(15,369)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
1,657
(1,354)
302
(5,561)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash