Business
Accuray Reports Fourth Quarter and Fiscal 2021 Financial Results
SUNNYVALE, Calif., Aug. 11, 2021 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported financial results for the fourth quarter and fiscal year
About this update from Accuray Incorporated
[{"type":"text","content":"SUNNYVALE, Calif., Aug. 11, 2021 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported financial results for the fourth quarter and fiscal year ended June 30, 2021.\n\n \n \n \n \n \n \n\n \nQ4 Fiscal 2021 and Recent Operating Highlights\nGross orders of $112.7 million, an increase of 19 percent from the prior year Net revenue of $110.9 million, an increase of 17 percent from the prior year Net loss of $11.1 million including a one-time charge of $9.9 million associated with debt refinancing; Adjusted EBITDA of $6.7 million Extended maturities of both convertible notes and bank debt to 2026 with improved terms on both Received CE Mark certification ClearRT™ Helical kVCT Imaging for the Radixact® SystemFiscal Year 2021 Highlights\nGross orders of $325.9 million and the record ending backlog of $616.4 million Net revenue of $396.3 million, an increase of 3.5% from fiscal 2021, including $54.2 million of China Type A system revenue GAAP operating income grew to $22.2 million from $12.5 million in the prior year Net loss $6.3 million, Adjusted EBITDA of $38.0 million Robust demand for ClearRT™ Helical kVCT Imaging for the Radixact® System: 44 global orders received since its commercial release\"Despite the challenging environment caused by the COVID-19 pandemic, we finished fiscal year 2021 on a strong note with 17% year-over-year revenue growth and 19% year-over-year gross order growth in the fourth quarter, both of which were ahead of our expectations,\" said Josh Levine, chief executive officer of Accuray. \"I am proud of the team's execution during the quarter and for the entire year, considering the challenging operating environment created by the pandemic. In addition to delivering year-over-year revenue growth in fiscal 2021, we aggressively managed expenses and working capital, refinanced our debt with more favorable terms and believe that we have positioned the business for further growth through the successful commercial launch of high impact technology upgrades like ClearRT Helical kVCT Imaging for the Radixact System. Our product portfolio is the strongest it has ever been and we believe our continued investment in meaningful technology innovations will position the Company for growth going forward.\"\nQ4 Fiscal 2021 Financial Highlights\nGross product orders totaled $112.7 million for the fourth quarter of ...