Business
Accuray Reports Fourth Quarter and Fiscal 2022 Financial Results
8.5% FY22 revenue growth; Company issues guidance for FY23 SUNNYVALE, Calif., Aug. 10, 2022 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported
About this update from Accuray Incorporated
[{"type":"text","content":"8.5% FY22 revenue growth; Company issues guidance for FY23\nSUNNYVALE, Calif., Aug. 10, 2022 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported financial results for the fourth quarter and fiscal 2022 ended June 30, 2022.\n\n \n \n \n \n \n \n\n \nQ4 Fiscal 2022 and Recent Operating Highlights\nGross orders of $88.3 millionNet revenue of $110.0 millionGAAP net loss of $3.5 million. Adjusted EBITDA of $5.2 millionAccuray ClearRT™ Helical Fan-Beam kVCT Imaging wins \"Best New Technology Solution for Oncology\" MedTech Breakthrough AwardFiscal Year 2022 Highlights\nGross orders of $332.3 million and ending backlog of $563.7 millionNet revenue of $429.9 million, an increase of 8.5% from fiscal 2021GAAP net loss of $5.3 million improved from GAAP net loss of $6.3 million in the prior year. Adjusted EBITDA of $22.8 million as compared to adjusted EBITDA of $38.0 million in the prior yearAccuray CyberKnife® System real world data and clinical studies presented at the International Stereotactic Radiosurgery Society congress reinforce benefits experienced by people with neurological indications treated over the last two decades\"The Accuray team delivered a solid fourth quarter beating consensus despite supply chain disruption and impacts from the COVID-19 lock downs in China. For the year, we delivered historic revenue levels demonstrating strong customer adoption of our latest product innovation. We continue to build a stronger business and invest in areas that are expected to deliver value to our customers to advance patient care,\" said Suzanne Winter, President and Chief Executive Officer.\nFiscal Fourth Quarter ResultsGross orders totaled $88.3 million for the fourth quarter of fiscal 2022 compared to $112.7 million for the prior fiscal year fourth quarter. Ending order backlog was $563.7 million, approximately 8.6 percent lower than at the end of the prior fiscal year as we experienced age-outs in the fourth quarter primarily driven by delayed installations in our China and EIMEA regions.\nTotal revenue was $110.0 million for the fourth quarter of fiscal 2022 compared to $110.9 million for the prior fiscal year fourth quarter. Product revenue totaled $58.0 million compared to $56.1 million for the prior fiscal year fourth quarter, while service revenue totaled $52.0 million compared to $54.8 million for the prior f...