Accuray Incorp Stock Price, News & Analysis

Accuray (NASDAQ: ARAY) has announced it will release its second quarter fiscal 2025 financial results on February 5, 2025. The company will host a conference call at 1:30 p.m. PT/4:30 p.m. ET on the same day to discuss the results for the period ended December 31, 2024.

Investors can access the conference call via telephone at (833) 316-0563 (USA) or (412) 317-5747 (international). A replay will be available for one week at 1-877-344-7529 (USA) or 1-412-317-0088 (international) using conference ID 8496951. Additionally, a live webcast will be available through the company's Investor Relations website, with a replay accessible until the third quarter fiscal 2025 results announcement.

Accuray (NASDAQ: ARAY) has announced the appointment of Leonel Peralta as Senior Vice President and Chief Operations Officer, effective February 3, 2025. Peralta will oversee worldwide manufacturing operations, focusing on aligning operations with corporate goals, optimizing supply chain efficiency, and maintaining superior customer service.

With over 25 years of leadership experience, Peralta joins from Siemens Healthineers' ultrasound division, where he served as Vice President and Head of Global Operations. His track record includes successful transformations in supply chain processes and manufacturing operations at companies including Medtronic Diabetes, Hill-Rom, KCI Medical, and GE Healthcare.

The appointment comes at a strategic time for Accuray, following the company's recent expansion of its radiation therapy system portfolio. CEO Suzanne Winter emphasized that Peralta's expertise will be important in driving business growth while maintaining operational efficiency and customer satisfaction.

Accuray (NASDAQ: ARAY) announced the Chinese National Medical Products Administration (NMPA) approval of its Radixact SynC™ System and CyberKnife® S7™ System. This follows the recent approval of their Tomo C System in China. The approvals are strategically significant as China needs approximately 2,000 radiation therapy systems over the next five years.

The Radixact SynC System is the first helical delivery device in China featuring Synchrony real-time target tracking and ClearRT kVCT imaging technology. It delivers precise radiation doses through 360-degree rotations, with automatic adaptation to tumor movement. The CyberKnife S7 System provides sub-millimetric accuracy radiation treatments in just 1-5 outpatient sessions, completing procedures in as little as 15 minutes, compared to conventional 30-40 session treatments.

Accuray (NASDAQ: ARAY) announced positive results from a nine-institution international study on treating brainstem metastases (BSM) using their CyberKnife® System. The study, published in the International Journal of Cancer, analyzed 136 patients with 144 BSM treated between 2005-2022 using radiosurgery (SRS) and fractionated stereotactic radiotherapy (FSRT).

The results demonstrated impressive outcomes with one-year, two-year, and three-year local BSM control rates of 82.9%, 71.4%, and 61.2% respectively. Nearly 70% of patients received treatment in just one session. The treatment showed a robust safety profile with low incidence of side effects, despite targeting the delicate brainstem area.

Accuray (NASDAQ: ARAY) has granted equity inducement awards to Mike Murphy, their new Vice President, Corporate Controller. The awards consist of 150,000 restricted stock units of company common stock, effective November 29, 2024. The Inducement Awards were granted outside the company's current equity plan but follow similar terms to their 2016 Equity Incentive Plan. The restricted stock units will vest at 25% annually over four years, starting from October 31, 2024, contingent on Murphy's continued employment.

Accuray reported its fiscal 2025 Q1 financial results, showing a mixed performance. Total net revenue was $101.5 million, slightly down from $103.9 million in the prior year. Product revenue decreased to $48.4 million from $53.4 million, while service revenue rose to $53.2 million from $50.5 million. Total gross profit was $34.5 million, or 33.9% of total net revenue, compared to $39.5 million or 38.0% last year. Operating expenses were $36.6 million, a slight decrease from $37.3 million the previous year. The company reported a net loss of $4.0 million or $0.04 per share, compared to a net loss of $3.0 million or $0.03 per share last year. Adjusted EBITDA was $3.1 million, down from $6.5 million. Gross product orders totaled $55.4 million, down from $63.7 million. Cash reserves stood at $59.7 million, a decrease of $9.4 million from June 30, 2024.

Accuray (NASDAQ: ARAY) has announced it will release its first quarter fiscal 2025 financial results on November 6, 2024. The company will host a conference call at 1:30 p.m. PT/4:30 p.m. ET on the same day. Investors can access the call via USA dial-in (833) 316-0563 or international dial-in (412) 317-5747. A replay will be available for one week. Additionally, a live webcast will be accessible through the company's Investor Relations website, with the replay available until Q2 FY2025 results announcement.

Accuray Incorporated (NASDAQ: ARAY) has announced the appointment of Michael Murphy, CPA as Vice President, Corporate Controller. Murphy will lead the global accounting function, including corporate tax, regulatory reporting, accounting policies, and risk management. He brings over 15 years of finance and accounting expertise to Accuray, most recently serving as VP, Chief Accounting Officer and Treasury at Duluth Holdings Inc.

Murphy is expected to be appointed as principal accounting officer following the filing of the company's quarterly report for the period ended September 30, 2024. He will report to Accuray's Senior VP & CFO Ali Pervaiz. Accuray's leadership expressed confidence in Murphy's ability to support the company's revenue and profitability goals, citing his experience and business acumen.

Accuray Incorporated (NASDAQ: ARAY) announced results of the PACE-B trial published in the New England Journal of Medicine. The study shows that at five years, stereotactic body radiation therapy (SBRT) provides comparable rates of cancer control, tolerability, and sexual functioning to conventional radiotherapy (CRT) for men with localized prostate cancer. SBRT, delivered using Accuray's CyberKnife System, reduces treatment time from up to 39 days to just five days.

Key findings include:

• High cancer control rates: 95.8% for SBRT vs 94.6% for CRT
• Similar rates of erectile dysfunction: 26.4% for SBRT vs 29.1% for CRT
• Stable urinary and bowel symptoms at five years for both groups

The study provides strong evidence supporting SBRT as an effective, time-efficient treatment option for men with low- or intermediate-risk prostate cancer.