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Accuray Incorporated develops, sells, and supports radiation therapy systems used in cancer treatment and neuro-radiosurgery. Company news centers on product and service revenue, installation timing, gross margin factors, and non-GAAP operating measures, as well as updates tied to its CyberKnife and Radixact treatment platforms and the Accuray Stellar configuration.
Recurring developments also include commercial leadership changes, equity inducement awards, and strategic transformation actions involving organizational realignment, cost structure, outsourcing, engineering resources, and sales enablement. Accuray's updates frame the company as a medical technology issuer with capital equipment sales, service revenue, and global commercialization priorities.
Accuray (ARAY) entered a definitive agreement with RaySearch Laboratories to expand their collaboration and accelerate Accuray's adoption of online adaptive radiation therapy.
The collaboration integrates Accuray's photon-based Radixact and, later, CyberKnife platforms and imaging with RaySearch's RayStation treatment planning and RayCare workflow software. Online adaptive radiation therapy enables adjustment of treatment plans immediately before delivery, based on the patient's current anatomy, with the goal of more personalized treatment and improved clinical efficiency. Under the agreement, Accuray will purchase specified RayStation licenses with a total order value of USD $8 million to support commercialization of these online adaptive solutions, which the companies will jointly market and support. RaySearch will further enhance its software to better support the Radixact platform and enable a more integrated workflow.
Accuray (NASDAQ: ARAY) reported fiscal 2026 results for the year ended June 30, 2026, highlighting a transformation plan that delivered more than $20 million of cost and margin improvement versus an original $12 million target and a new financing transaction with TCW Asset Management intended to strengthen liquidity, reduce leverage and provide covenant relief through December 2027.
For Q4, net revenue was $100.9 million (down 21% year over year) with product revenue of $40.8 million (down 42%) and service revenue of $60.1 million (up 6%). Q4 gross margin improved to and Adjusted EBITDA rose to $12.9 million. Full-year 2026 net revenue was $401.9 million (down 12%), including a 27% decline in product revenue and 4% growth in service revenue. GAAP net loss widened to $49.2 million while Adjusted EBITDA decreased to $10.6 million. Fiscal 2026 gross product orders fell to $191.9 million, with year-end backlog of $312.5 million, about 27% lower than a year earlier. The company is not providing formal fiscal 2027 revenue or Adjusted EBITDA guidance.
Accuray (NASDAQ: ARAY) announced two executive leadership appointments aligned with its Transformation Phase II strategy to improve operational execution, cost structure and long-term profitable growth. Todd Brown is named Senior Vice President of a newly created Enterprise Performance Optimization organization, while Sofiane Laoussadi becomes Senior Vice President, Global Services & Solutions.
According to Accuray, Brown will lead global initiatives to improve working capital and cash flow, enhance supply chain efficiency, optimize costs, and digitize processes and systems. Laoussadi will oversee the global services business, which generated 57% of consolidated net revenues in fiscal 2026, focusing on customer support, lifecycle management, software upgrades, training and workflow consulting to support revenue growth, margin expansion and enhanced customer experience.
Accuray (NASDAQ: ARAY) will report its fourth quarter fiscal 2026 financial results, for the period ended June 30, 2026, on August 19, 2026. Company management will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET that day. Investors can join by dialing 1-833-316-0563 (USA) or 1-412-317-5747 (international). A dial-up replay will be available for one week at 1-855-669-9658 (USA) or 1-412-317-0088 (international), using conference ID 6917084. A live webcast and replay will be accessible via the Investor Relations section of investors.accuray.com until Accuray announces its first quarter fiscal 2027 results.
Accuray (NASDAQ: ARAY) announced a multi-pronged plan to strengthen its balance sheet, deepen strategic partnerships, and advance core technologies to support long-term growth. The company entered definitive agreements with its primary lender and largest shareholder, TCW Asset Management, including exchanging $40 million of term loan debt for convertible preferred stock, a new $15 million cash equity investment in the same preferred, and access to a delayed draw term loan of up to $5 million. The preferred carries an 8% dividend and is convertible at $0.50 per share, a roughly 105% premium to the prior closing price. Certain financial covenants are waived through December 31, 2027, and Accuray agreed to implement a reverse stock split, subject to shareholder approval. Board size will shrink from 8 to 7 with TCW entitled to two seats.
Accuray also outlined non-binding LOIs with Samsung HME America and RaySearch Laboratories on imaging and adaptive therapy software, continued expansion of its TCS partnership, and the rollout of its ClearRT, Synchrony, and VOLO platforms as part of "Transformation Phase II" focused on innovation, cost structure, and market reach.
Accuray (NASDAQ: ARAY) granted equity inducement awards under NASDAQ Listing Rule 5635(c)(4) to new executives Paul Miele, Chief Commercial Officer, and David Shin, Chief Legal Officer.
Miele received 650,000 RSUs and 650,000 PSUs; Shin received 375,000 RSUs and 375,000 PSUs, with time-based vesting starting in 2027 and PSU performance periods through fiscal 2028.
Accuray (NASDAQ: ARAY) and the University of Wisconsin School of Medicine and Public Health announced a new 10-year Master Research Agreement focused on personalized cancer care using the Stellar adaptive radiation therapy platform.
The collaboration supports clinical research, education, training, and development of next-generation adaptive radiotherapy, building on UW’s role in inventing technology commercialized as Accuray’s TomoTherapy System.
Accuray (NASDAQ: ARAY) reported fiscal Q3 results for the period ended March 31, 2026. Total net revenue was $104.8M (down 7% YoY); product revenue $49.7M (down 13%); service revenue $55.1M (down 1%). GAAP net loss was $11.8M (diluted loss $0.09). Adjusted EBITDA was $3.8M. Order backlog was $356.2M. Company withdrew FY26 revenue and Adjusted EBITDA guidance due to Middle East geopolitical uncertainty. Transformation actions delivered ~$10M of cost and margin improvements to date.
Accuray (NASDAQ: ARAY) will report third quarter fiscal 2026 results for the period ended March 31, 2026, on May 6, 2026 with a conference call at 1:30 p.m. PT / 4:30 p.m. ET. A live webcast and a one-week replay will be available via the Investor Relations website. Investor contact: Investor.relations@accuray.com.
Accuray (NASDAQ: ARAY) appointed Paul Miele as Senior Vice President and Chief Commercial Officer, effective April 6, 2026. Miele will lead global commercial strategy across sales, marketing, pricing, market access, partnerships and launch excellence as the company pursues improved commercial execution and growth.
He joins with nearly two decades of global capital-medical device experience and a track record of reversing revenue declines and generating double-digit annual sales growth in prior roles.