Accuray Incorporated · NASDAQ:ARAY
Accuray — Q2 FY2025 Earnings Presentation
19 slides from Accuray's earnings presentation, Feb 5, 2025
Slide 1: Q2'FY25 Earnings Call Supplemental Presentation
Q2’FY25 Earnings Call Supplemental Presentation February 5, 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. Safe Harbor Statement Statements in this presentation (including the oral commentary that accompanies it) that are not statements of historical fact are forward-looki
Slide 3: Highlights
Highlights Strong second quarter and first half results; raising fiscal year 2025 guidance Total net revenue was $116.2 million, an increase of 8 percent year-over-year Net income was $2.5 million compared to a net loss of $9.6 million in the prior year period Adjusted EBITDA1 was $9.6 million compa
Slide 4: Vision 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 Proprietary and Confidential Pr
Slide 5: Customer and Patient Focused Priorities
Customer and Patient Focused Priorities Conquer Cancer by Closing the Gaps to Care 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 Hope Delight Customers Confidence by e
Slide 6: China Business Progress
China Business Progress 54% YOY revenue growth driven by both Type A and B markets 1st 100 patients NMPA approved 16% growth 10 points share completed the CyberKnife® S7 in new gain in CY 20241 treatment with the and Radixact® SynC installed base Tomo® C System Systems customers YOY 1 Based on total
Slide 7: China Margin Impact – Tomo C System
China Margin Impact – Tomo® C System ▪ Due to JV accounting rules, Total (TT-C) FY23 FY24 FY25 FY25 FY25 49% of total margin is deferred upon shipment $k Full Year Full Year Q1 Q2 1H to the JV and margin is Net China Margin impact (1,216) (3,031) (1,993) 3,314 1,321 released when the JV ships the sy
Slide 8: Q2'FY25 and 1H'FY25 Financials
Q2’FY25 and 1H’FY25 Financials Strong financial performance Highlights KEY FINANCIAL METRICS $M Q2 Y/Y Q2 1H Y/Y 1H ▪ Robust orders with book-to-bill ratio of 1.3 Y/Y XFX2 Y/Y XFX2 ▪ Strong product revenue growth driven by China, APAC and Japan, and the CyberKnife® Revenues $116.2M 8% 8% $217.7M 3%
Slide 9: Raising FY25 Guidance
Raising FY25 Guidance $ in millions Revised Guidance Previous Guidance % = YoY Growth Range Range $463M - $475M $462M - $472M Revenue +4% - 6% +3.5% - 6% $28.5M - $31M $28M - $30M Adjusted EBITDA1 +45% - 57% +42% - 52% 1 Adjusted EBITDA is a non-GAAP measure. Please see Slide 15 for a reconciliation
Slide 10: FY2025 Fiscal Focused Priorities
FY2025 Fiscal Focused Priorities Outpace the Expand Service Improve Strengthen Market and and Solutions Profitability and Balance Sheet Grow Customer Recurring Operational and Cash Flow Base Revenue Excellence Proprietary and Confidential Property of Accuray 10
Slide 11: Thank you
Thank you Proprietary and Confidential Property of Accuray 11
Slide 12: GAAP to Adjusted EBITDA Q2 FY'25 and Q2 FY'24
GAAP to Adjusted EBITDA Q2 FY’25 and Q2 FY’24 Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) Three Months Ended Three Months Ended December 31, December 31, $K 2024 2023 GAAP net income (loss)
Slide 13: GAAP to Adjusted EBITDA 1H FY'25 and 1H FY'24
GAAP to Adjusted EBITDA 1H FY’25 and 1H FY’24 Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) Six Months Ended Six Months Ended December 31, December 31, $K 2024 2023 GAAP net income (loss) $ (
Slide 14: GAAP to Adjusted EBITDA Q1 FY'25 and Q1 FY'24
GAAP to Adjusted EBITDA Q1 FY’25 and Q1 FY’24 Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) Three Months Ended Three Months Ended September 30, September 30, $K 2024 2023 GAAP net income (los
Slide 15: GAAP to Adjusted EBITDA FY'25 – Forward Looking Guidance
GAAP to Adjusted EBITDA FY’25 – Forward Looking Guidance Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) Twelve Months Ended June 30, 2025 $K From To GAAP net income (loss) $ (4,000) $ (1,500)
Slide 16: GAAP to Adjusted EBITDA FY2024 and FY2023
GAAP to Adjusted EBITDA FY2024 and FY2023 Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation (Adjusted EBITDA) Twelve Months Ended Twelve Months Ended June 30, June 30, $K 2024 2023 GAAP net income (loss) $ (15,545
Slide 17: Gross Margin to Gross Margin Excluding China Margin Impact
Gross Margin to Gross Margin Excluding China Margin Impact Reconciliation of Gross margin to Gross margin excluding China Margin Impact Twelve Months Ended Twelve Months Ended June 30, June 30, $K 2024 2023 Total Net Revenue $ 446,551 $ 447,605 Total Cost of Revenue (303,630) (293,645) Gross Profit
Slide 18: Gross Margin to Gross Margin Excluding China Margin Impact
Gross Margin to Gross Margin Excluding China Margin Impact Reconciliation of Gross margin to Gross margin excluding China Margin Impact Three Months Ended Six Months Ended December 31, December 31, $K 2024 2024 Total Net Revenue $ 116,174 $ 217,719 Total Cost of Revenue (74,282) (141,358) Gross Prof
Slide 19: Gross Margin to Gross Margin Excluding China Margin Impact
Gross Margin to Gross Margin Excluding China Margin Impact Reconciliation of Gross margin to Gross margin excluding China Margin Impact Three Months Ended September 30, $K 2024 Total Net Revenue $ 101,545 Total Cost of Revenue (67,076) Gross Profit 34,469 TT-C China Margin Deferral (1,993) Gross Pro