For FY2023 Q4, ACCURAY INCORPORATED ($NASDAQ:ARAY) reported total revenue of USD 118.3 million and net income of USD -2.6 million as of June 30 2023 on August 9 2023. This is a 7.5% increase in total revenue compared to the fourth quarter of FY2022, but a decline in net income from -3.4 million in the same period a year prior.
ACCURAY INCORPORATED, on Wednesday, reported its earnings results for the fourth quarter of FY2023 which ended on June 30, 2023. The stock opened at $4.0 and closed at $3.6, representing a 12.2% plunge from the previous closing price of $4.1. This drop was mainly due to the company’s weaker than anticipated performance in the quarter. The company’s operating expenses for the quarter were higher than expected due to increased investments in marketing and research and development. In addition, the company’s gross margin was lower than estimated due to rising costs and competitive pressures in the market. Overall, ACCURAY INCORPORATED’s fourth quarter earnings results have disappointed investors.
However, the company remains confident in its long-term prospects as it continues to invest in new products and services to expand its market presence. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
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Key Ratios Snapshot
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At GoodWhale, we believe in bringing transparency to the investing process. That’s why we’ve looked into ACCURAY INCORPORATED‘s financials to help you make the most informed decision. Our Risk Rating analysis of ACCURAY INCORPORATED indicates that it is a medium risk investment. This means that although ACCURAY INCORPORATED may offer potential gains, there could also be risks associated with it. We have also detected 2 risk warnings in ACCURAY INCORPORATED’s income sheet and balance sheet. To get a better understanding of these risks, please register on goodwhale.com. Our comprehensive analyses can help you make the best possible decision. More…
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Star Chart Analysis
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 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.
ACCURAY INCORPORATED recently reported their Q4 earnings for FY2023, with total revenue rising 7.5% compared to the previous year to USD 118.3 million.
However, net income decreased to USD -2.6 million, compared to -3.4 million in the same period last year. This news caused the stock price to move down on the same day, suggesting a negative response from investors. Nevertheless, the company’s revenue growth and steady performance despite the challenging economic environment indicates potential for future earnings growth. Investors will be watching closely to see if ACCURAY INCORPORATED can maintain its positive trend in the coming quarters.