Accuray Incorporated · NASDAQ:ARAY
Accuray — Q1 FY2023 Earnings Presentation
17 slides from Accuray's earnings presentation, Nov 2, 2022
Slide 1: Q1'FY23 Earnings Call November 2, 2022
Q1’FY23 Earnings Call November 2, 2022
Slide 2: Safe Harbor Statement
Proprietary and Confidential Property of Accuray Safe Harbor Statement Statements in this presentation (including the oral commentary that accompanies it) that are not statements of historical fact are forward-looking statements and are subject to the “safe harbor” provisions of the Private Securiti
Slide 3: Executive Team
Executive Team Suzanne Winter President and CEO Ali Pervaiz Senior Vice President, Chief Financial Officer Sandeep Chalke Senior Vice President, Chief Commercial Officer Jean-Philippe Pignol Senior Vice President, Chief Medical and Technology Officer Jesse Chew Senior Vice President, General Counsel
Slide 4: Accuray Global Leader in Precision Radiation Therapy
Accuray Global Leader in Precision Radiation Therapy Leveraging Technology Innovation to Protect Lives and Improve Quality of Life Systems Installed in Over 60 Countries1 1: As of October 20, 2022 2: Estimated percentage of revenue invested into R&D Installed Base Milestone Expected by End of 2022 M
Slide 5: Entering the Golden Age of Radiotherapy
Entering the Golden Age of Radiotherapy Technology innovation is powering RT potential as a first-line therapy Shorter Treatment Regimens Imaging Innovation Correct for CHANGES Powerful Partnerships Clinical Innovation Curative Power Clinically Proven Outcomes Value-based Care CT Sim Image Quality S
Slide 6: Key Highlights
Key Highlights NMPA regulatory submission completed for Tomo® C, the Joint Venture product for the China Type B segment New, global commercial partnership with GE Healthcare to expand access, advance Precision Radiation Therapy Data published in The Lancet Oncology indicate men with prostate cancer
Slide 7: Q1'FY23 Installations
Q1’FY23 Installations Examples of Accuray Systems installed to positively impact patients’ lives Akita City Hospital Akita, Japan St. Catherine Hospital East Chicago Oscar Lambret Center Lille, France CyberKnife® S7™ System Radixact® System Radixact System
Slide 8: Accuray at ASTRO 2022
Accuray at ASTRO 2022 *510(k) pending. VitalHold is not available for sale in the USA. It is not CE marked and availability is subject to regulatory clearance or approval in some markets **Works in progress Accuray – C-RAD VitalHold™* unveiling ~500 in attendance Most comprehensive breast cancer sol
Slide 9: Ultra-Hypofractionation is Ready for Prime-Time
Ultra-Hypofractionation is Ready for Prime-Time 20% Adoption0 growing with Phase II-III clinical evidence 70%5 Breast, prostate, lung cancer, and metastases Patient Mix Phase II-III Trials Fast-Forward PACE-B STARS SABR-COMET Adoption 20% HF UHF0 HF: hypofractionation UHF: ultra-hypofractionation Fa
Slide 10: ClearRT: Rapid Adoption of New Standard of Imaging for Radixact
ClearRT™: Rapid Adoption of New Standard of Imaging for Radixact® CT-Linac Helical fan-beam kVCT imaging 135 orders and 84 shipments since introduction in Q3’FY21 ClearRT™ Enhanced Imaging introduced at ASTRO Further improves visualization, reduces daily hardware warmup and calibration time Highligh
Slide 11: Q1'FY23 Financials
Q1’FY23 Financials Strong financial performance despite macro headwinds Gross orders $69.8M (0%) Revenues $96.5M (10%) Product $44.6M (15%) Service $51.9M (5%) Op. Expenses $36.8M (1%) R&D $14.1M (2%) SG&A $22.7M (0%) Adj. EBITDA 1 $1.9M (65%) KEY FINANCIAL METRICS $M Q1 Y/Y Highlights Steady orders
Slide 12: Maintaining FY23 Guidance
Maintaining FY23 Guidance Communicated August 10, 2022 Revenue Adjusted EBITDA1 $429.9M $22.8M FY23 Guidance Range FY22 Actual $ in millions % = YoY Growth $447M - $455M +4% - 6% $26M - $30M +14% - 32% 1 Adjusted EBITDA is a non-GAAP measure. Please see Slides 16 and 17 for a reconciliation of Adjus
Slide 13: In Summary
In Summary Growing momentum with 32 orders in the quarter Strongest product portfolio and pipeline in company’s history Multiple growth catalysts and global commercial execution Focused on margin expansion and free cash flow Positioned for Long-Term Revenue Growth and Market Share Gain
Slide 14: Thank you
ACCURAY Thank you Proprotry ond content Property of Accixoy
Slide 15: GAAP to Adjusted EBITDA Q1 FY2023 and Q1 FY2022
GAAP to Adjusted EBITDA Q1 FY2023 and Q1 FY2022 Actual Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) $K GAAP net income (loss) Stock-based compensation Interest expense, net Provision for inc
Slide 16: GAAP to Adjusted EBITDA FY2022 and FY2021
GAAP to Adjusted EBITDA FY2022 and FY2021 Actual Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) $K GAAP net income (loss) Stock-based compensation Interest expense, net Provision for income ta
Slide 17: GAAP to Adjusted EBITDA FY2023 – Forward Looking Guidance
GAAP to Adjusted EBITDA FY2023 – Forward Looking Guidance Actual Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) $K GAAP net income (loss) Stock-based compensation Interest expense, net Provisi