Accuray Incorporated · NASDAQ:ARAY
Accuray — Q4 FY2025 Earnings Presentation
22 slides from Accuray's earnings presentation, Aug 13, 2025
Slide 1: Q4'FY25 Earnings Call Supplemental Presentation
Q4’FY25 Earnings Call Supplemental Presentation August 13, 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: 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 4: Accuray Product Portfolio
Accuray Product Portfolio Unique Robotic, Dedicated SRS/SBRT System Helical RT System with CT Imaging CyberKnife® System Radixact® System Tomo C® System Accuray Helix™ Helical System Made in China Designed for Patient Access
Slide 5: Our Strategy – Close the Gaps to Care
Our Strategy – Close the Gaps to Care Expand Patient Access in Growth Markets Advance Care Through Innovation Grow and Optimize Service Solutions Connect the Global RT Community
Slide 6: Patient-focused Highlights: Expanding Access to High-Precision Care
Patient-focused Highlights: Expanding Access to High-Precision Care First Patient Treatments Radixact System and VitalHold™ Technology in Multiple Countries Tomo® C System in China CyberKnife System in Austria Regulatory Milestone NMPA approval for Radixact® SynC™ System and CyberKnife® S7™ System i
Slide 7: FY25 Financial Highlights
1 Adjusted EBITDA is a non-GAAP measure. Please see Slides 13 and 17 for a reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure. Total net revenue was $458.5 million for fiscal 2025, a 3% increase year-over-year, and record annual revenue Operating income of $7.8 million co
Slide 8: China Deferred Margin Impact
China Deferred Margin Impact 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 $4.0 million in Q4
Slide 9: Q4'FY25 and FY25 Financials
Q4’FY25 and FY25 Financials Solid financial performance KEY FINANCIAL METRICS Highlights Strong service revenue growth, in particular in international markets Completed debt refinancing, including securing a strong strategic partner invested in long-term success Solid adjusted EBITDA1 performance ov
Slide 10: FY26 Guidance
FY26 Guidance Total Net Revenue Adjusted EBITDA1 1 Adjusted EBITDA is a non-GAAP measure. Please see Slide 18 for a reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure. $31M - $35M +10% - 25% $471M - $485M +3% - 6% $ in millions % = YoY Growth FY26 Guidance Range
Slide 11: FY2026 Fiscal Focused Priorities
FY2026 Fiscal Focused Priorities Expand Service Revenue and Margins Revenue Growth and Installed Base Expansion Focused Capital Deployment to Fuel Innovation and Shareholder Value Targeted Initiatives to Meaningfully Expand Adjusted EBITDA
Slide 12: Thank you
ACCURAY Thank you Proprietary and Confidential Property of Accuray
Slide 13: GAAP to Adjusted EBITDA Q4 FY'25 and Q4 FY'24
$K GAAP net income Stock-based compensation Interest expense, net Provision for income taxes Adjusted EBITDA Depreciation and amortization Three Months Ended June 30, Three Months Ended June 30, 2024 2025 $ $ $ $ 1,123 1,598 2,818 3,937 948 9,448 3,387 1,507 2,042 2,686 471 10,093 Gain on extinguish
Slide 14: GAAP to Adjusted EBITDA FY2025 and FY2024
$K GAAP net income (loss) Stock-based compensation Interest expense, net Provision for income taxes Depreciation and amortization Twelve Months Ended June 30, 2025 Gain on extinguishment of debt GAAP to Adjusted EBITDA FY2025 and FY2024 Reconciliation of Net Income (Loss) to Adjusted Earnings Before
Slide 15: 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 16: GAAP to Adjusted EBITDA YTD Q3 FY'25 and Q3 YTD 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 7,441 7,990 2,633 2,815 ERP and ERP related expenditures 1,7
Slide 17: GAAP to Adjusted EBITDA Q1 FY'25 and Q1 FY'24
GAAP to Adjusted EBITDA Q1 FY’25 and QI FY’24 Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) Three Months Ended ACCURAY Three Months Ended September 30, September 30, $K 2024 2023 GAAP net inc
Slide 18: GAAP to Adjusted EBITDA FY'26 Forward Looking Guidance
$K GAAP net loss Stock-based compensation Interest expense, net Provision for income taxes Adjusted EBITDA Depreciation and amortization To From $ $ $ $ (12,000) 6,000 10,500 23,500 3,000 31,000 (8,000) 6,000 10,500 23,500 3,000 35,000 GAAP to Adjusted EBITDA FY’26 – Forward Looking Guidance Reconci
Slide 19: Gross Margin to Gross Margin Excluding China Margin Impact
$K Total Net Revenue Gross Profit China Margin (Deferral)/Release Gross Margin % excl China Margin Impact Total Cost of Revenue Three Months Ended June 30, Twelve Months Ended June 30, 2025 2025 $ $ 127,543 (88,564) 38,979 (4,034) 33.72% 458,505 (311,538) 146,967 (7,602) 33.71% Gross Profit excl Chi
Slide 20: Gross Margin to Gross Margin Excluding China Margin Impact
$K Total Net Revenue Gross Profit China Margin (Deferral)/Release Gross Margin % excl 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 (4,686) 32.07% 330,962 (222,974) 107,988 (3,568) 33.71% Gross Profit excl Chi
Slide 21: Gross Margin to Gross Margin Excluding China Margin Impact
$K Total Net Revenue Gross Profit China Margin (Deferral)/Release Gross Margin % excl 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 4,735 31.98% 217,719 (141,358) 76,361 1,118 34.56% Gross Profit excl Chi
Slide 22: Gross Margin to Gross Margin Excluding China Margin Impact
$K Total Net Revenue Gross Profit China Margin Deferral Gross Margin % excl China Margin Impact Total Cost of Revenue Three Months Ended September 30, 2024 $ 101,545 (67,076) 34,469 (3,617) 37.51% Gross Profit excl China Margin Impact 38,086 Gross Margin to Gross Margin Excluding China Margin Impact