Business
Accuray Reports Fiscal 2022 First Quarter Financial Results
Record Revenue First Quarter Fiscal 2022 SUNNYVALE, Calif., Nov. 3, 2021 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported financial results
About this update from Accuray Incorporated
[{"type":"text","content":"Record Revenue First Quarter Fiscal 2022\n\n\nSUNNYVALE, Calif., Nov. 3, 2021 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported financial results for the first quarter of fiscal 2022 ended September 30, 2021.\n\n \n \n \n \n \n \n\n \nFirst Quarter Fiscal 2022 Summary \nRecord net revenue of $107.4 million, including $25.5 million of system revenue in China, as compared to net revenue of $85.3 million in the prior period Gross orders of $70.0 million, an increase of 39 percent from the three months ended September 30, 2020 GAAP Net loss of $1.0 million as compared to GAAP Net income of $0.4 million in the prior year. Adjusted EBITDA of $5.4 million as compared to adjusted EBITDA of $9.0 million in the prior year first quarter Other Recent Operational Highlights \nReceived 510(k) clearance for VOLO™ Ultra enhancement to the Accuray Precision® treatment planning system for the Radixact® System, full commercial launch at ASTRO 2021 Strong demand for ClearRT™ Helical kVCT Imaging for the Radixact® System: 59 global orders received since its commercial release in December 2020 New integration with RayStation® treatment planning system for the CyberKnife® M6™ and S7™ Systems, exhibited at ASTRO 2021\"By any measure, our Q1 performance was a very strong start to our FY22 fiscal year. Q1 revenue of $107.4 million represents the largest first fiscal quarter revenue that Accuray has ever recorded. Our performance reflects the visible impact of the investments in innovation we have made to our product portfolio, how those new technologies are being received by customers across the world and a laser-like focus on commercial execution, all of which are driving accelerated revenue growth in our business,\" said Joshua Levine, Chief Executive Officer.\nQ1 Fiscal 2022 Financial Highlights\nTotal net revenue was $107.4 million for the first quarter of fiscal 2022 compared to $85.3 million for the prior fiscal year first quarter. Product revenue totaled $52.8 million for the first quarter of fiscal 2022 compared to $31.3 million for the prior fiscal year first quarter, while service revenue totaled $54.7 million for the first quarter of fiscal 2022 compared to $54.1 million for the prior fiscal year first quarter.\nTotal gross profit for the first quarter of fiscal 2022 was $39.5 million or approximately 36.8 percent of total net...