Every 8-K that Accuray Incorporated (ARAY) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow ARAY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ARAY filings page.
Accuray Incorporated (ARAY) reported fourth-quarter and fiscal 2026 results showing weaker top-line demand but notable cost and margin actions. For the June 30, 2026 quarter, net revenue was $100.9 million, a 21% decrease from $127.5 million a year earlier, driven by a 42% decline in product revenue to $40.8 million, partially offset by 6% growth in service revenue to $60.1 million. Quarterly gross profit was $35.1 million and gross margin improved to 34.8% from 30.6%, while operating expenses fell 15% to $29.6 million, including $0.7 million of restructuring charges. Adjusted EBITDA rose to $12.9 million from $9.4 million, but the quarter showed a net loss of $1.9 million.
For fiscal 2026, net revenue was $401.9 million, a 12% decrease from $458.5 million, with product revenue down 27% and service revenue up 4%. Full-year gross profit declined to $111.5 million and gross margin to 27.7%, while operating expenses were $137.9 million, including $16.2 million of restructuring; excluding these, operating expenses would have decreased 13% versus the prior year. Accuray recorded a GAAP net loss of $49.2 million ($0.40 per share) and Adjusted EBITDA of $10.6 million. Gross product orders fell to $191.9 million and order backlog to $312.5 million, about 27% lower than a year earlier. Cash, cash equivalents, and short-term restricted cash were $41.2 million at June 30, 2026.
Accuray Incorporated received approval from Nasdaq to transfer the listing of its common stock from the Nasdaq Global Select Market to the Nasdaq Capital Market. The transfer became effective at the opening of business on August 6, 2026, and the shares continue to trade under the symbol ARAY.
The Nasdaq Capital Market operates in substantially the same manner as the prior market tier and requires listed companies to meet specified financial and corporate governance standards. Accuray was also granted an additional 180-day period, until February 1, 2027, to demonstrate compliance with the $1.00 bid price requirement of the Nasdaq Capital Market.
Accuray Incorporated entered into a Securities Purchase Agreement with existing investors led by TCW for 55,000 shares of Series A Convertible Preferred Stock at $1,000 per share, totaling $55.0 million, funded by $15.0 million in new cash and conversion of $40.0 million of existing debt, subject to stockholder approval and a reverse stock split between 1-for-15 and 1-for-40. The Series A carries 8% annual accruing dividends, ranks senior to common stock on dividends and liquidation, and is optionally convertible at 2,000 common shares per $1,000 principal, with holders gaining significant consent rights over future senior or pari passu securities and board structure.
At closing, warrants over approximately 27.6 million common shares will be cancelled, while new seven-year warrants for about 15.3 million shares at $0.01 per share are issued. Amendment No. 3 to the TCW-led Financing Agreement provides a covenant holiday on leverage and fixed charge coverage tests through December 31, 2027, an additional $5.0 million delayed draw term loan, and converts the revolver to an asset-based facility, in exchange for higher fees, including a potential $15.0 million fee if stockholders do not approve the Issuance. The board is reduced to seven members, TCW may designate two directors, and directors Beverly Huss and Anne LeGrand resigned without any stated disagreement.
Accuray Incorporated has fully repaid its 3.75% Convertible Senior Notes due 2026. On June 1, 2026, the company paid the remaining outstanding principal of $18,000,000 plus accrued and unpaid interest of $337,500, retiring the notes at their scheduled maturity.
With this repayment, the related Indenture dated May 13, 2021 was satisfied and discharged, and Accuray was released from its remaining obligations under that agreement, other than standard provisions that survive termination. The company confirms the notes were retired in accordance with their original terms.
Accuray Incorporated reported weaker fiscal 2026 third‑quarter results and withdrew its full‑year guidance. Total net revenue for the quarter was $104.8 million, down 7% from $113.2 million a year earlier, with product revenue down 13% to $49.7 million and service revenue down 1% to $55.1 million.
Gross profit fell to $25.3 million, or 24.1% of revenue, from $31.6 million, or 27.9%. Net loss widened to $11.8 million, or $0.09 per share, versus a $1.3 million loss, or $0.01 per share. Adjusted EBITDA declined to $3.8 million from $6.0 million, while order backlog dropped to $356.2 million, about 21% lower than a year earlier. Management cited geopolitical uncertainty affecting Middle Eastern installations as the reason for withdrawing guidance on total net revenue and Adjusted EBITDA.
Accuray Incorporated reported that Leonel Peralta, its Senior Vice President and Chief Operations Officer, departed the company effective April 26, 2026. The company states that his resignation was not due to any disagreement with Accuray, its Board of Directors, or its operations, policies, or practices.
The filing is limited to this leadership change and standard exhibit information, including an Inline XBRL cover page data file.
Accuray Incorporated amended its Consulting Agreement with Dedication Capital, LLC, an affiliate of director Steven F. Mayer. The amendment cuts by 50% the base consulting fee after March 31, 2026 through October 31, 2026 and reduces the minimum cash incentive amounts for the fiscal year ended June 30, 2026 and the fiscal quarter ended September 30, 2026. In exchange, time-based vesting was accelerated as of April 1, 2026 for 916,336 Initial Restricted Shares and all PSAs, while the remaining 333,004 Initial Restricted Shares vest on October 31, 2026. The changes are expected to generate at least $362,500 in cash savings for the company.
Accuray Incorporated has appointed Paul Miele as Senior Vice President and Chief Commercial Officer, effective April 6, 2026, as disclosed in a press release furnished under Regulation FD. He joins the executive leadership team to lead the company’s global commercial organization across sales, marketing, pricing, and market access.
The company highlights his prior success driving commercial turnarounds and double-digit annual sales growth in complex medical technology businesses. Accuray frames the hire as part of its ongoing transformation, aiming to strengthen commercial execution, grow systems and services sales, and enhance long-term value creation.
Accuray Incorporated entered into a separation agreement with Senior Vice President and Chief Commercial Officer Sandeep Chalke on March 13, 2026, ahead of his previously disclosed departure effective March 31, 2026. The agreement grants vesting of equity awards scheduled to vest on May 31, 2026, with all later equity forfeited. Mr. Chalke will receive a lump-sum cash payment of $459,000, equal to 12 months of base salary, plus a pro‑rated fiscal 2026 bonus paid on the same schedule as other executives. These benefits replace any prior severance or noncompetition payments, and the agreement, which includes a general release of claims, becomes effective after a seven‑business‑day revocation period.
Accuray Incorporated furnished an updated investor presentation related to its fiscal 2026 second quarter earnings call. The company posted the presentation on its Investor Relations website and attached it as Exhibit 99.1. Company spokespeople plan to use this deck in discussions with analysts and investors on or after February 17, 2026.
The presentation is described as summary information and is meant to be read alongside Accuray’s other SEC filings and public announcements. The company notes that the materials are furnished under Regulation FD, are not deemed filed for liability purposes, and may be updated or revised without further obligation.
Accuray Incorporated determined that investors should no longer rely on certain previously issued financial statements because of errors in how it disclosed remaining performance obligations (RPO) under ASC 606.
The issue is limited to an RPO footnote in Note 2, Revenue, and is not expected to affect the company’s balance sheets, income statements, or cash flow statements, nor the underlying value of open system and upgrade sales orders. The problem arose from a long‑standing methodology that incorrectly treated certain open orders as RPO when customer deposits did not represent substantive termination penalties.
Accuray’s audit committee concluded that the audited financial statements for the year ended June 30, 2025, related quarterly financials for fiscal 2025, and the quarter ended September 30, 2025, along with the related audit report, should not be relied upon. The company identified material weaknesses in internal control over financial reporting and disclosure controls and procedures, will file amended 10‑K/A and 10‑Q/A reports to correct the errors, and has begun remediation efforts. Management has discussed the matter with Grant Thornton LLP, its independent auditor, and currently expects to file the delayed quarterly report within the five‑day extension allowed under Rule 12b‑25.
Accuray Incorporated disclosed that on February 2, 2026 it received a notice from Nasdaq that its common stock no longer meets the Nasdaq Bid Price Rule, which requires a minimum $1.00 per share closing bid for 30 consecutive business days. The stock remains listed and trading under “ARAY” for now.
Accuray has a 180-day compliance period, until August 3, 2026, to regain compliance by maintaining a closing bid of at least $1.00 for at least ten consecutive business days, subject to possible Nasdaq extension. If it fails, the company may seek a second 180-day period by transferring to the Nasdaq Capital Market and potentially effecting a reverse stock split, but there is no assurance it will qualify or avoid delisting. The company is evaluating options and states it intends to timely regain compliance.
Accuray Incorporated furnished an 8-K to share that it has released its financial results for the fiscal 2026 second quarter ended December 31, 2025. The results are contained in a press release dated February 4, 2026, which is attached as Exhibit 99.1.
The company also prepared an investor presentation attached as Exhibit 99.2, which its spokespersons plan to use with analysts and investors on or after February 4, 2026, and to post on its investor relations website. Both the press release and presentation are furnished, not filed, limiting their treatment under certain Exchange Act liability provisions.
Accuray Incorporated reported that Sandeep Chalke has notified the company of his intent to resign from his role as Senior Vice President and Chief Commercial Officer. His resignation will be effective on March 31, 2026. The company states that his decision is not due to any disagreement with Accuray, its Board of Directors, or any matter related to its operations, policies, or practices. This is a leadership change disclosure and does not include financial results or transaction details.
Accuray Incorporated updated its financing and launched a major restructuring as part of a broader transformation plan. The company amended its loan agreement to allow certain restricted cash to count toward Liquidity, remove the leverage condition for drawing on its delayed draw term loan facility, reduce delayed draw commitments to $18.25 million, and postpone testing of total leverage and fixed charge coverage covenants until the fiscal quarter ending December 31, 2026. Accuray also agreed to higher prepayment premiums, additional premiums totaling $1.9 million, and a $5 million temporary reduction in revolving credit availability through that date.
To induce lenders to enter into these changes, Accuray issued unregistered warrants for specified numbers of common shares at exercise prices of $1.50, $1.25 and $0.01 per share, expiring on December 15, 2032, and provided for additional warrants if delayed draw loans are funded, all with price-protection anti-dilution features. Separately, the company began the first phase of a strategic and organizational transformation, eliminating about 15 percent of its global workforce. It expects approximately $5.4 million in headcount-related restructuring costs and $5.6 million from other initiatives, for total charges of about $11 million across fiscal 2026, and disclosed that this first phase is expected to improve annualized operating profitability by approximately $25 million.
Accuray Incorporated reported results from its 2025 Annual Meeting of Stockholders. Stockholders elected three Class I directors — Anne B. Le Grand, Joseph E. Whitters and Chan W. Galbato — to serve until the 2028 annual meeting, each receiving more votes for than against. Stockholders also approved the Company’s 2026 Equity Incentive Plan, with 54,189,859 shares in favor and 8,102,765 against, allowing Accuray to continue granting equity-based awards to employees and directors. In an advisory vote, stockholders approved compensation for the Company’s named executive officers, and they ratified the appointment of Grant Thornton LLP as independent registered public accounting firm for the fiscal year ending June 30, 2026.
Accuray Incorporated furnished an 8‑K announcing its fiscal 2026 first quarter results. The company provided a press release for the quarter ended September 30, 2025, and made an investor presentation available.
The materials were furnished under Item 2.02 and Item 7.01 and are not deemed filed. The press release is attached as Exhibit 99.1, and the earnings call presentation as Exhibit 99.2. The presentation will also be available on Accuray’s investor relations website.
Accuray Incorporated entered into a consulting agreement with its Senior Vice President, Chief Legal Officer and Corporate Secretary, Jesse Chew, in connection with his departure on September 19, 2025. The agreement covers transition and consulting services from September 19, 2025 through December 31, 2025.
For these services, Mr. Chew will receive a $20,000 monthly retainer and continued vesting of his outstanding Accuray equity awards during the consulting term. The full consulting agreement is included as an exhibit to the report.
Accuray Incorporated reported upcoming leadership and board changes. On August 19, 2025, director Robert C. Kill, a Class I director, informed the Board that he will not stand for re-election at the company’s 2025 annual meeting of stockholders scheduled for November 2025. He will continue serving on the Board and its Compensation Committee until that meeting concludes, and the company states his decision is not due to any disagreement with the company, the Board, or its operations, policies, or practices.
Also on August 19, 2025, Jesse Chew notified the company of his intent to resign as Senior Vice President, Chief Legal Officer and Corporate Secretary, effective September 19, 2025. He has agreed to consult with Accuray through December 31, 2025 under terms to be determined. The company notes that his resignation is likewise not the result of any disagreement with the company or the Board.