Accuray Reports Fourth Quarter and Fiscal 2024 Financial Results

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[{"type":"text","content":"14% Revenue and 8% Orders Growth in Q4; Company issues FY25 Guidance\nMADISON, Wis., Aug. 14, 2024 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported financial results for the fourth quarter and fiscal 2024, ended June 30, 2024.\n\n \n \n \n \n \n \n\n \nFourth Quarter Fiscal 2024 Summary\nNet revenue of $134.3 million, an increase of 13.5 percent from the same period in the prior fiscal year. Net revenue on a constant currency basis was $136.7 million, which represents a 15.6 percent increase versus the same period in the prior fiscal year.GAAP net income of $3.4 million, as compared to GAAP net loss of $2.6 million in the same period in the prior fiscal year. Adjusted EBITDA was $10.1 million in the fourth quarter of fiscal 2024 compared to $5.2 million in the same period in the prior fiscal year.Gross orders of $95.5 million, increased 7.9 percent from the same period in the prior fiscal year. The book to bill ratio was 1.2 in the fourth quarter of fiscal 2024, compared to a book to bill ratio of 1.4 in the same period in the prior fiscal year.Fiscal Year 2024 Summary\nNet revenue of $446.6 million, a decrease of 0.2 percent from the prior fiscal year. Net revenue on a constant currency basis was $447.9 million, which represents an 0.1 percent increase from the prior fiscal year.GAAP net loss of $15.5 million, as compared to a GAAP net loss of $9.3 million in the prior fiscal year. Adjusted EBITDA was $19.7 million in fiscal 2024, as compared to adjusted EBITDA of $23.9 million in the prior fiscal year.Gross orders of $342.1 million increased 10.0 percent from the same period in the prior fiscal year. The book to bill ratio was 1.5 in fiscal 2024, compared to a book to bill ratio of 1.3 in the prior fiscal year.Other Recent Operational Highlights\nAchieved record quarterly system shipments with 24 percent increase in systems shipped compared to the same period in the prior fiscal year, resulting in highest revenue quarter in company history.Gained approval for the Accuray Precision® Treatment Planning System (TPS) in China for use with the Tomo® C radiation therapy system for the Type B market.Implemented first installations of the VitalHold™ surface-guided radiation therapy (SGRT) on the Radixact® System in Japan.Gained CE Mark for the Accuray Helix™, a configuration of the Radixact® Treatment Delivery System...

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