Accuray Incorporated · NASDAQ:ARAY
Accuray — Q4 FY2021 Earnings Presentation
16 slides from Accuray's earnings presentation, Aug 11, 2021
Slide 1: Q4'FY21 Earnings Call, Fiscal Year End 2021
Q4’FY21 Earnings Call Fiscal Year End 2021 August 11, 2021
Slide 2: Forward-Looking Statements
Proprietary and Confidential Property of Accuray FORWARD-LOOKING STATEMENTS This presentation is intended exclusively for investors. It is not intended for use in Sales or Marketing Safe Harbor Statement Statements in this presentation (including the oral commentary that accompanies it) that are not
Slide 3: Executive Summary Q4'FY21
Executive Summary Q4’FY21 Proprietary and Confidential Property of Accuray Strong revenue performance with 17% Q4 Y/Y revenue growth Record orders and $616M backlog with 19% Q4 Y/Y order growth Received CE marking for ClearRT™ helical kVCT imaging 3% net installed base growth driving future recurrin
Slide 4: Our Vision: Expand the Power of Radiation Therapy to Improve Patient Lives
Proprietary and Confidential Property of Accuray Our Vision: Expand the Power of Radiation Therapy to Improve Patient Lives Easy patient experience Non-invasive Improved outcomes and quality of life Hope New therapeutic options Powerful ~ 3 Million patients treated in FY21
Slide 5: What We Accomplished in FY21
What We Accomplished in FY21 Proprietary and Confidential Property of Accuray Accelerated investment in R&D pipeline 44 ClearRT™ orders 76 new system installations Continued progress in China; $65M in system revenue, 195% Y/Y growth Successful global product launches (ClearRT™, CyberKnife® S7™) 3.5%
Slide 6: Gross Order Performance by Region in Q4
Proprietary and Confidential Property of Accuray Gross Order Performance by Region in Q4 AMS 8% Q4 Y/Y EIMEA Flat Q4 Y/Y APAC 119% Q4 Y/Y JAPAN -7 % Q4 Y/Y +19% Q4 Y/Y Global Order Performance Note: Percentages above are calculated using actual dollars for Orders.
Slide 7: CyberKnife S7 and Radixact: Positioned to Win in Value Based Care
Proprietary and Confidential Property of Accuray CyberKnife® S7™ 360° helical delivery system Simple to complex treatments Radixact® / TomoTherapy® Accuray-only technology Delivering more. Better. Faster. ClearRT™ Synchrony® Robotic delivery system 25 years leadership SRS/SBRT Motion detection and r
Slide 8: China: Strong Business Progress
China: Strong Business Progress China facility, training center, CIIE tradeshow exhibit Proprietary and Confidential Property of Accuray Radixact® X5 CIIE Launch Unique JV partnership strategy 195% revenue growth FY21 80% market share in RT Type A segment On track for China-made market intro into hi
Slide 9: Q4 and FY21 Financials
Q4 and FY21 Financials Proprietary and Confidential Property of Accuray Gross orders $113M 19% $326M (14%) Revenues $111M 17% $396M 3% Product $56M 39% $177M 6% Service $55M 0% $220M 2% Op. Expenses $39.6M 15% $137.2M 0.1% R&D $15.4M 26% $52.7M 6% SG&A $24.2M 9% $84.5M (3%) Adj. EBITDA $6.7M (33%) $
Slide 10: Guidance for FY22
Guidance for FY22 Proprietary and Confidential Property of Accuray Revenue: $410M - $420M Expected Revenue Growth: >4% (5% midpoint) Adjusted EBITDA1 : $32M - $35M Adjusted EBITDA is a non-GAAP measure. Please see Slide 15 for a reconciliation of Adjusted EBITDA to the most directly comparable GAAP
Slide 11: In Summary: Entering FY22 With Accelerating Momentum
In Summary Proprietary and Confidential Property of Accuray Entering FY22 With Accelerating Momentum Strongest Product Portfolio and Pipeline in Company’s History Multiple Growth Catalysts and Global Commercial Execution Strengthened Leadership Team and Operational Foundation Positioned for Accelera
Slide 12: Save the Date: Accuray Annual Investor Day
Proprietary and Confidential Property of Accuray Save the Date: Accuray Annual Investor Day To take place during 2021 ASTRO Annual Meeting Monday, October 25th, 2021 (post market close) Marriott Marquis Chicago Details to follow in coming days
Slide 13: Thank You
Proprietary and Confidential Property of Accuray THANK YOU
Slide 14: GAAP to Adjusted EBITDA FY2021 Actual
Proprietary and Confidential Property of Accuray GAAP to Adjusted EBITDA FY2021 Actual Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) $K Three Months Ended June 30 Twelve Months Ended June 30
Slide 15: GAAP to Adjusted EBITDA FY2022 Guidance
Proprietary and Confidential Property of Accuray GAAP to Adjusted EBITDA FY2022 Guidance Projected Guidance Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) $K Twelve Months Ended Projection for
Slide 16: GAAP to Adjusted EBITDA FY2019 Actual
Proprietary and Confidential Property of Accuray GAAP to Adjusted EBITDA FY2019 Actual Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) $K Three Months Ended June 30 Twelve Months Ended June 30