Accuray Incorporated reported QQ4 2024 revenue of $134.289 million, up 13.5% year-over-year and 32.8% quarter-over-quarter, signaling improving demand for its radiotherapy platforms and related services. Despite top-line growth, gross margins remained modest at 28.6%, with operating margin around 5.1% and net margin near 2.5%, underscoring ongoing profitability pressure typical for a capital-intensive medical device company. The quarter generated $8.324 million of EBITDA and $3.387 million of net income, with earnings per share of $0.034 (diluted $0.0335). Free cash flow reached $9.42 million, supported by robust operating cash flow of $9.88 million and negligible capital expenditure, while the balance sheet remains leveraged with total debt of $210.7 million and net debt of $141.7 million. Cash and cash equivalents stood at approximately $69.1 million, yielding a current ratio of 1.65 and a quick ratio of 0.94, indicating satisfactory near-term liquidity but a meaningful leverage burden. Management commentary for QQ4 2024 is not included in the provided transcript, limiting qualitative insight into pace of backlog conversion, mix shifts, or cost optimization actions. Looking forward, the business could benefit from continued adoption of its CyberKnife and Radixact platforms, expansion of installed base, and higher service revenue, but sustained profitability will depend on margin discipline and deleveraging as backlog converts to revenue.