Executive Summary
Accuray Incorporated reported QQ1 2025 revenue of USD 101.545 million, essentially flat year-over-year (YoY) at -2.26% but down sharply quarter-over-quarter (QoQ) by -24.38%, signaling typical seasonality and the gradual maturation of project-based revenue streams. Gross profit stood at USD 34.469 million, yielding a gross margin of 33.9%, down about 12.7% YoY and 10.4% QoQ, reflecting a challenging product mix and ongoing cost dynamics in a hardware-heavy business model. The quarter produced an operating loss of USD -2.149 million and a net loss of USD -3.954 million, with adjusted EBITDA of USD 1.090 million. EPS landed at USD -0.0395, marking a deterioration versus prior periods and underscoring near-term profitability pressures even as the company maintains a cash cushion.
Key Performance Indicators
QoQ: -24.38% | YoY:-2.26%
QoQ: -10.36% | YoY:-12.72%
QoQ: -131.52% | YoY:-197.11%
QoQ: -216.74% | YoY:-33.18%
QoQ: -216.18% | YoY:-28.66%
Key Insights
Revenue: USD 101.545 million; YoY change: -2.26%; QoQ change: -24.38%
Gross Profit: USD 34.469 million; Gross Margin: 33.94%; YoY Gross Profit change: -12.72%; QoQ: -10.36%
Operating Income: USD -2.149 million; Operating Margin: -2.12%; YoY: -197.11%; QoQ: -131.52%
Net Income: USD -3.954 million; Net Margin: -3.89%; YoY: -33.18%; QoQ: -216.74%
EPS (diluted): USD -0.0395; YoY: -28.66%; QoQ: -216.18%
EBITDA: USD 1.09 million; EBITDA Margin: ~1.08%
Cash Flow: Operating cash flow USD -7.294 mi...
Financial Highlights
Revenue: USD 101.545 million; YoY change: -2.26%; QoQ change: -24.38%
Gross Profit: USD 34.469 million; Gross Margin: 33.94%; YoY Gross Profit change: -12.72%; QoQ: -10.36%
Operating Income: USD -2.149 million; Operating Margin: -2.12%; YoY: -197.11%; QoQ: -131.52%
Net Income: USD -3.954 million; Net Margin: -3.89%; YoY: -33.18%; QoQ: -216.74%
EPS (diluted): USD -0.0395; YoY: -28.66%; QoQ: -216.18%
EBITDA: USD 1.09 million; EBITDA Margin: ~1.08%
Cash Flow: Operating cash flow USD -7.294 million; Free cash flow USD -8.414 million; Capex USD -1.12 million; Net change in cash USD -9.26 million; Cash, end of period USD 61.132 million.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
101.55M |
-2.26% |
-24.38% |
| Gross Profit |
34.47M |
-12.72% |
-10.36% |
| Operating Income |
-2.15M |
-197.11% |
-131.52% |
| Net Income |
-3.95M |
-33.18% |
-216.74% |
| EPS |
-0.04 |
-28.66% |
-216.18% |
Key Financial Ratios
operatingProfitMargin
-2.12%
operatingCashFlowPerShare
$-0.07
freeCashFlowPerShare
$-0.08
priceEarningsRatio
-11.91
Management Commentary
Note: The dataset includes an empty earnings transcript. No management quotes or thematic highlights from an earnings call are provided in the data feed for QQ1 2025. Investors should weigh this gap against the published financials and company filings when forming an opinion.
Forward Guidance
Management guidance for QQ1 2025 is not included in the provided data. The absence of formal forward guidance suggests a cautious near-term stance. Key factors to monitor include: conversion of deferred revenue into recurring service revenue, the pace of international demand for Accuray systems (CyberKnife, TomoTherapy/Radxact), equipment utilization, and the trajectory of operating expense discipline (R&D vs SG&A) as the company scales service and installed-base revenue. Industry catalysts to watch include hospital capex cycles, competitive dynamics with major players in stereotactic radiosurgery, and potential product enhancements that improve throughput and margin. Our assessment indicates a gradual path to better profitability contingent on improved operating leverage and favorable mix, combined with disciplined working capital management.