Accuray Incorporated · NASDAQ:ARAY
Accuray — Q3 FY2025 Earnings Presentation
18 slides from Accuray's earnings presentation, Apr 30, 2025
Slide 1: Q3'FY25 Earnings Call Supplemental Presentation
Q3’FY25 Earnings Call Supplemental Presentation April 30, 2025
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation is intended exclusively for investors. It is not intended for use in Sales or Marketing. 2 Proprietary and Confidential Property of Accuray Safe Harbor Statement Statements in this presentation (including the oral commentary that accompanies it) that are
Slide 3: Q3 Highlights
Q3 Highlights Total net revenue was $113.2 million, an increase of 12 percent year-over-year Net loss was $1.3 million compared to a net loss of $6.3 million in the prior year period Adjusted EBITDA1 was $6.0 million compared to $1.1 million in the prior year period 1 Adjusted EBITDA is a non-GAAP m
Slide 4: Vision and Mission
Vision To expand the curative power of radiation therapy to improve as many lives as possible Mission To think, act, and execute beyond expectations every day to deliver better, safer radiation therapy solutions and help patients get back to living their lives, faster
Slide 5: Customer and Patient Focused Priorities
Customer and Patient Focused Priorities Advance Care by providing solutions that address the biggest pain points in RT Drive Patient Access to radiotherapy treatments in developed and high potential underserved markets Delight Customers by ensuring high operational performance so no patient is resch
Slide 6: China Margin Impact – Tomo C System
China Margin Impact – Tomo® C System Due to JV accounting rules, 49% of total margin is deferred upon shipment to the JV and margin is released when the JV ships the system to the customer Deferred margin is reflected on the Balance Sheet under Assets as “Investment in JV” Net deferral of $2.4 milli
Slide 7: Q3'FY25 and YTD Q3'FY25 Financials
Q3’FY25 and YTD Q3’FY25 Financials Strong financial performance KEY FINANCIAL METRICS Highlights Strong Q3 performance representing 12% YoY revenue growth with 16% increase in Product revenue and 9% increase in Service revenue 27 systems delivered to customers representing a 23% increase globally Yo
Slide 8: FY25 Guidance
FY25 Guidance Revenue Adjusted EBITDA1 Previous Guidance Range $28.5M - $31M +45% - 57% 1 Adjusted EBITDA is a non-GAAP measure. Please see Slide 15 for a reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure. $ in millions % = YoY Growth $463M - $475M +4% - 6% Guidance Rang
Slide 9: FY2025 Fiscal Focused Priorities
FY2025 Fiscal Focused Priorities Outpace the Market and Grow Customer Base Expand Service and Solutions Recurring Revenue Improve Profitability and Operational Excellence Strengthen Balance Sheet and Cash Flow
Slide 10: Thank you
ACCURAY Thank you Proprietary and Confidential Property of Accuray 10
Slide 11: GAAP to Adjusted EBITDA Q3 FY'25 and Q3 FY'24
$K GAAP net loss Stock-based compensation Interest expense, net Restructuring charges Depreciation and amortization Three Months Ended March 31, Three Months Ended March 31, 2024 2025 $ $ (1,297) 1,575 2,745 2,568 0 0 (6,342) 1,601 2,735 2,649 0 0 ERP and ERP related expenditures 457 444 GAAP to Adj
Slide 12: GAAP to Adjusted EBITDA YTD Q3FY'25 and Q3YTD FY'24
$K GAAP net income (loss) Stock-based compensation Interest expense, net Restructuring charges Depreciation and amortization Nine Months Ended March 31, Nine Months Ended March 31, 2024 2025 $ $ (2,714) 4,552 7,383 7,825 0 0 (18,932) 4,398 7,442 7,989 2,633 2,815 ERP and ERP related expenditures 1,7
Slide 13: GAAP to Adjusted EBITDA YTD Q3FY'25 and Q3YTD FY'24 (updated)
$K GAAP net income (loss) Stock-based compensation Interest expense, net Restructuring charges Depreciation and amortization Nine Months Ended March 31, Nine Months Ended March 31, 2024 2025 $ $ (2,714) 4,552 7,383 7,825 0 0 (18,932) 4,398 7,441 7,990 2,633 2,815 ERP and ERP related expenditures 1,7
Slide 14: GAAP to Adjusted EBITDA FY'25 Forward Looking Guidance (updated)
$K GAAP net income (loss) Stock-based compensation Interest expense, net Provision for income taxes Adjusted EBITDA Depreciation and amortization To From $ $ $ $ (4,000) 6,500 10,000 13,000 3,000 28,500 (1,500) 6,500 10,000 13,000 3,000 31,000 GAAP to Adjusted EBITDA FY’25 – Forward Looking Guidance
Slide 15: GAAP to Adjusted EBITDA FY'25 Forward Looking Guidance
$K GAAP net income (loss) Stock-based compensation Interest expense, net Provision for income taxes Adjusted EBITDA Depreciation and amortization To From $ $ $ $ (4,000) 6,500 10,000 13,000 3,000 28,500 (1,500) 6,500 10,000 13,000 3,000 31,000 GAAP to Adjusted EBITDA FY’25 – Forward Looking Guidance
Slide 16: Gross Margin to Gross Margin Excluding China Margin Impact
$K Total Net Revenue Gross Profit TT-C China Margin (Deferral)/Release Gross Margin % excl TT-C China Margin Impact Total Cost of Revenue Three Months Ended March 31, Nine Months Ended March 31, 2025 2025 $ $ 113,243 (81,616) 31,627 (2,405) 30.05% 330,962 (222,974) 107,988 (1,084) 32.96% Gross Profi
Slide 17: Gross Margin to Gross Margin Excluding China Margin Impact
$K Total Net Revenue Gross Profit TT-C China Margin (Deferral)/Release Gross Margin % excl TT-C China Margin Impact Total Cost of Revenue Three Months Ended December 31, Six Months Ended December 31, 2024 2024 $ $ 116,174 (74,282) 41,892 3,314 33.21% 217,719 (141,358) 76,361 1,321 34.47% Gross Profi
Slide 18: Gross Margin to Gross Margin Excluding China Margin Impact
$K Total Net Revenue Gross Profit TT-C China Margin Deferral Gross Margin % excl TT-C China Margin Impact Total Cost of Revenue Three Months Ended September 30, 2024 $ 101,545 (67,076) 34,469 (1,993) 35.91% Gross Profit excl TT-C China Margin Impact 36,462 Gross Margin to Gross Margin Excluding Chin