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Accuray Incorporated Reports Fiscal 2025 Third Quarter Financial Outcomes

Accuray Incorporated (NASDAQ: ARAY) shared its financial results for the third quarter ending March 31, 2025, showcasing solid advancements despite the challenging economic environment. The company experienced a thriving quarter with an impressive year-over-year revenue growth of 12%, bringing total net revenue to $113.2 million compared to $101.1 million in the previous year. Additionally, Accuray reported notable improvements in its net loss, which decreased to $1.3 million, a substantial drop from $6.3 million recorded in the same quarter last year.

This performance underscores the efficacy of Accuray's strategic initiatives, particularly in overcoming the adversities posed by global tariff changes. As noted by CEO Suzanne Winter, the team’s commitment to coping with these challenges while pursuing growth has instilled confidence in the continued demand for Accuray's innovative technologies.

Financial Highlights of Q3 FY2025

During this quarter, Accuray's product revenues saw a growth of 16%, reaching $57.3 million from the previous $49.6 million. Service revenues also increased by 9% to $55.9 million, contrasting the $51.5 million from the third quarter of the prior fiscal year. Operational efficiency was reflected in the gross profit which climbed to $31.6 million, translating to a gross margin of 27.9% of total net revenue.

Notably, operational expenses fell by 9% from the previous year, totaling $30.6 million. This reduction played a significant role in limiting the company's net losses, leading to an adjusted EBITDA of $6.0 million, a remarkable rise from $1.1 million in the same quarter last year.

Comprehensive Nine-Month Performance

When reviewing a broader timeframe, Accuray's total net revenue for the first nine months of FY2025 achieved $331.0 million, a 6% increase from $312.3 million in the previous fiscal year. Product and service revenues also displayed positive trends, with product revenue increasing by 8% and service revenue rising by 4%. The total gross profit during this period recorded $108.0 million, representing 32.6% of total net revenue.

Despite these gains, Accuray acknowledged a drop in gross product orders to $203.3 million, a decline from $246.7 million from the same period last year. The book-to-bill ratio stood at 1.2, compared to 1.6 for the same period last year, reflecting the evolving market dynamics.

Looking Ahead: FY2025 Guidance

As the company advances through the fiscal year, Accuray is reaffirming its adjusted EBITDA guidance for FY2025, projecting figures in the range of $28.5 million to $31.0 million. However, due to recent tariff implications, the revenue is now anticipated to be between $452 million and $460 million for the year. This revised guidance accounts for adjustments related to product volume and highlights the company’s adaptability in the face of external pressures.

Conclusion

Accuray's significant quarterly results mark a notable period of financial improvement, validating its strategic initiatives in a fluctuating market. With its commitment to delivering cutting-edge radiation therapy solutions and navigating industry challenges efficiently, Accuray is well-positioned to enhance its market performance and tackle future growth objectives. The company invites stakeholders to join its conference call to delve deeper into Q3 FY2025 results and associated developments.

For additional information about Accuray and to follow their financial journey, visit Accuray's official website.

Contact Information:
Investor Relations: ICR-Westwicke
Phone: +1 (443) 450-4191
Email: [investor email]

Disclaimer: This report contains forward-looking statements that are subject to various risks and uncertainties. Actual results may differ significantly from the projections provided herein.