ACCURAY INCORPORATED Reports 7.5% Increase in Total Revenue for Fourth Quarter of FY2023
August 15, 2023
☀️Earnings Overview
For the fourth quarter of fiscal year 2023, ACCURAY INCORPORATED ($NASDAQ:ARAY) saw total revenue grow by 7.5% to USD 118.3 million year-on-year. Net income showed an improvement on the prior year’s equivalent quarter, rising from a loss of -3.4 million to -2.6 million.
Analysis
Analyzing ACCURAY INCORPORATED‘s fundamentals with GoodWhale is the key to making informed decisions when investing. GoodWhale’s Risk Rating system gives ACCURAY INCORPORATED a medium risk investment rating in terms of financial and business aspects. This means that the company runs risk of certain financial and business performance issues, however, the risk is not too high. GoodWhale has also detected two risk warnings in the ACCURAY INCORPORATED’s income sheet and balance sheet. To get further insights into these and other financial and business risks, interested investors should register on goodwhale.com. With GoodWhale’s help, investors can evaluate the risk they are taking when investing in ACCURAY INCORPORATED and make decisions accordingly. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Accuray Incorporated. More…
| Total Revenues | Net Income | Net Margin |
| 447.61 | -9.28 | -2.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Accuray Incorporated. More…
| Operations | Investing | Financing |
| 2.01 | -4.72 | -15.37 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Accuray Incorporated. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 479.21 | 425.56 | 0.56 |
Key Ratios Snapshot
Some of the financial key ratios for Accuray Incorporated are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.3% | -42.5% | 0.5% |
| FCF Margin | ROE | ROA |
| -0.9% | 2.7% | 0.3% |
Peers
There is fierce competition in the market for cancer treatment systems with Accuray Inc, Delcath Systems Inc, Bluejay Diagnostics Inc, and EBR Systems Inc all vying for a share. All of these companies have developed innovative treatments that are designed to improve patient outcomes.
– Delcath Systems Inc ($NASDAQ:DCTH)
Delcath Systems Inc is a medical device company that focuses on the treatment of cancer. The company’s market cap as of 2022 is 24.25M, and its ROE is -1466.9%. Delcath’s main product is a system that delivers chemotherapy to tumors while sparing healthy tissues. The company is based in New York City.
– Bluejay Diagnostics Inc ($NASDAQ:BJDX)
The company’s market cap is 14.63M as of 2022. The company’s ROE is -22.59%. The company is engaged in the development of diagnostic products for the early detection of cancer.
– EBR Systems Inc ($ASX:EBR)
EBR Systems Inc is a leading provider of innovative solutions for the treatment of cardiac arrhythmias. The company has a market cap of 126.85M as of 2022. EBR Systems Inc offers a variety of products and services to meet the needs of its customers. The company’s products include implantable cardioverter defibrillators, pacemakers, and other heart rhythm management devices. In addition, EBR Systems Inc provides services such as implantation, programming, and follow-up care.
Summary
ACCURAY INCORPORATED reported total revenue of USD 118.3 million for the fourth quarter of FY2023, a 7.5% increase from the prior year. However, the company’s net income for the same period was USD -2.6 million, which is an improvement from the -3.4 million reported in the same quarter of the prior year. Despite this, the stock price moved down the same day, indicating that investors are concerned with the company’s performance. For potential investors, it is important to consider the company’s overall financial performance and potential for future growth when considering investing in ACCURAY INCORPORATED.
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