Accuray Reports Fiscal 2024 Third Quarter Financial Results

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[{"type":"text","content":"MADISON, Wis., May 1, 2024 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported financial results for the third quarter and nine-months ended March 31, 2024.\n\n \n \n \n \n \n \n\n \nThird Quarter Fiscal 2024 Summary \nNet revenue of $101.1 million decreased 14 percent from the same period in the prior fiscal year. Net revenue on a constant currency basis was $102.4 million, which represented a 13 percent decrease from the same period in the prior fiscal year.GAAP net loss was $6.3 million, as compared to GAAP net income of $0.6 million in the same period in the prior fiscal year. Adjusted EBITDA was $1.1 million, as compared to adjusted EBITDA of $8.3 million in the same period in the prior fiscal year.Gross orders of $89.1 million increased 21 percent from the same period in the prior fiscal year. The book to bill ratio was 1.8 in the third quarter of fiscal 2024, compared to a book to bill ratio of 1.2 in the same period in the prior fiscal year.Fiscal Nine Months 2024 Summary\nNet revenue of $312.3 million decreased 5 percent from the same period in the prior fiscal year. Net revenue on a constant currency basis was $311.2 million, which represented a 6 percent decrease from the same period in the prior fiscal year.GAAP net loss was $18.9 million, as compared to GAAP net loss of $6.7 million in the same period in the prior fiscal year. Adjusted EBITDA was $9.6 million as compared to adjusted EBITDA of $18.7 million in the same period in the prior fiscal year.Gross orders of $246.7 million increased 11 percent from the same period in the prior fiscal year. The book to bill ratio was 1.6 in the first nine months of fiscal 2024, compared to a book to bill ratio of 1.3 in the same period in the prior fiscal year.Other Recent Operational Highlights \nOpened new training center in Genolier, Switzerland, the most recent addition to the Accuray network of training centers and one of the growth drivers for the company's service business.Introducing at ESTRO a new physics offering, CyberComm™, intended to significantly reduce the CyberKnife®S7™ System's commissioning time and enable customers to begin treating patients substantially faster.Announced a collaboration agreement with Oncopole Claudius Regaud (IUCT-Oncopole) in France, and Airbus SAS, a leader in the aerospace industry, to develop an artificial intelligence ...

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