Welcome to our dedicated page for Accuray Incorporated news (Ticker: ARAY), a resource for investors and traders seeking the latest updates and insights on Accuray Incorporated stock.
Accuray Incorporated (NASDAQ: ARAY) is a pioneering radiation oncology company dedicated to advancing precise, innovative tumor treatment solutions. Headquartered in Madison, Wisconsin, Accuray develops, manufactures, and markets cutting-edge technology designed to deliver a full spectrum of radiation therapy and radiosurgery treatments. Their flagship products, such as the CyberKnife® and Radixact® Systems, set new standards in cancer treatment by offering unparalleled precision and real-time tumor tracking capabilities.
The CyberKnife® System utilizes a non-invasive robotic platform to treat various types of cancer and tumors throughout the body. This system excels through its ability to track, detect, and correct for tumor and patient movement in real-time during procedures, enhancing the accuracy of radiation delivery. This unique approach ensures high-dose radiation is administered with sub-millimeter precision, allowing patients to breathe normally without manual intervention.
Accuray's recent achievements include significant milestones in product development and market expansion. In October 2023, the company announced the Chinese National Medical Products Administration's approval of the CNNC-Accuray joint venture Tomo® C radiation therapy system. This system, tailored for the Chinese Type B market, aims to expand access to radiotherapy treatments, addressing the country's growing demand for cancer care solutions.
Financially, Accuray has demonstrated robust performance. According to their first-quarter fiscal 2024 report, the company achieved a total net revenue of $103.9 million, reflecting a year-over-year increase. Despite a net loss of $3.0 million, the company reported a significant improvement in gross profit margins, emphasizing its strategic focus on revenue growth and operational efficiency.
Accuray remains committed to continuous innovation. The launch of the VitalHold™ package supporting surface-guided radiation therapy (SGRT) on the Radixact® System in Japan highlights their ongoing efforts to enhance treatment options. This feature enables deep inspiration breath hold (DIBH) treatments, particularly for breast cancer, thereby improving patient outcomes and reducing treatment-associated stress.
The company's dedication to excellence is further exemplified by its recent partnerships and educational initiatives. In April 2024, Accuray opened a new training center in Genolier, Switzerland, which serves as a European hub for advanced radiosurgery and radiotherapy training. This facility aims to elevate the skills and knowledge of medical professionals, ensuring the delivery of high-quality, precise treatments.
Accuray's vision of transforming patient care is evident in their continuous pursuit of technological advancements and strategic collaborations. Their products not only enhance the precision and effectiveness of cancer treatments but also contribute to improved patient quality of life post-treatment. With a strong commitment to innovation, Accuray is well-positioned to lead the radiation therapy industry into the future.
Accuray Incorporated (NASDAQ: ARAY) reported strong financial results for Q3 fiscal 2023, ending March 31, 2023. Net revenue reached $118.1 million, a 22.8% increase year-over-year, while GAAP net income was $0.6 million, compared to a loss of $1.0 million in the prior year. Adjusted EBITDA surged to $8.3 million, up 53.5%. The company shipped a record 30 systems, marking a 67% growth from the previous year. However, gross product orders were $73.8 million, down from $88.6 million in the same quarter last year, and order backlog decreased by 12.7% to $506.6 million. Fiscal year guidance remains steady, with a focus on continued innovation and strategic partnerships.
Accuray Incorporated (NASDAQ: ARAY) will announce its third quarter fiscal 2023 financial results on April 26, 2023, following the quarter ending March 31, 2023. The company will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET. Interested parties can participate via dial-in or listen to a live webcast on the company's Investor Relations website.
Details for the conference call include dial-in numbers: 833-316-0563 (USA) and 412-317-5747 (international). A replay will be available shortly after the call, lasting for one week. Accuray is dedicated to advancing radiation therapy, aiming to enhance patient care.
Accuray Incorporated (NASDAQ: ARAY) will participate in the 33rd Annual Oppenheimer Healthcare Conference from March 13-15, 2023. The management team is scheduled for a fireside chat on March 14, 2023, at 1:00 PM PST / 4:00 PM EST. A live webcast will be available on the Accuray website, with a replay accessible for 90 days post-event. The Oppenheimer Conference aims to connect institutional investors with diverse healthcare companies across sectors. Accuray, headquartered in Sunnyvale, California, focuses on advancing radiation therapy to enhance patient outcomes.
Accuray Incorporated (NASDAQ: ARAY) will participate in the Cowen 43rd Annual Health Care Conference from March 6-8, 2023. The management team is scheduled for a Fireside Chat on March 6 at 10:30am PST (1:30pm EST). Interested parties can access a live webcast on the Accuray investor website, with a replay available afterward. Accuray is dedicated to advancing radiation therapy technologies to enhance patient care in oncology and neuro-radiosurgery. Based in Sunnyvale, California, the company focuses on innovative solutions to meet diverse patient needs.
Accuray (NASDAQ: ARAY) announced promising results from the PACE-A trial, demonstrating that stereotactic body radiation therapy (SBRT) offers better preservation of urinary continence and sexual function compared to surgery in men with localized prostate cancer. Conducted by The Royal Marsden NHS Foundation Trust and The Institute of Cancer Research, the trial involved 123 patients, with significantly fewer SBRT patients (4.5%) reporting the need for urinary pads than those who underwent surgery (47%). The findings were presented at the ASCO GU symposium, emphasizing SBRT's potential for lessening long-term side effects for patients.
Accuray Incorporated (NASDAQ: ARAY) announced its participation in the virtual BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference from February 14-16, 2023. This event is designed exclusively for BTIG clients, offering opportunities for one-on-one meetings with management. Accuray focuses on advancing radiation therapy technologies to enhance patient care in oncology and neuro-radiosurgery. With a commitment to innovation, Accuray aims to improve treatment efficiency for complex cases while streamlining processes for more common conditions. For more information, visit www.accuray.com.
Accuray Incorporated (NASDAQ: ARAY) appointed Robert C. Kill to its Board of Directors, effective January 30, 2023. With over 30 years of experience in healthcare, Kill's previous role as CEO of Parata Systems saw revenue growth exceeding 5X before its sale for over $1.5 billion. His expertise in transforming healthcare companies aligns with Accuray’s strategic focus. Suzanne Winter, President and CEO, expressed enthusiasm about Kill's addition, highlighting his reputation for generating positive business outcomes. Kill aims to leverage Accuray’s radiation therapy technology to unlock its untapped potential.
FAQ
What is the current stock price of Accuray Incorporated (ARAY)?
What is the market cap of Accuray Incorporated (ARAY)?
What is Accuray Incorporated's primary focus?
What are the flagship products of Accuray?
What recent achievements has Accuray announced?
How has Accuray performed financially in recent quarters?
What is the significance of the CyberKnife® System?
How does Accuray support medical professionals?
What is the goal of the VitalHold™ package?
How does Accuray contribute to global cancer treatment?
Where is Accuray headquartered?
What is the strategic vision of Accuray?
