ACCURAY INCORPORATED Reports FY2023 Q4 Earnings Results for June 30 2023
August 23, 2023
🌥️Earnings Overview
On August 9 2023, ACCURAY INCORPORATED ($NASDAQ:ARAY) reported their earnings results for FY2023 Q4, ending June 30 2023. The total revenue for the quarter was USD 118.3 million, a 7.5% increase from the same period in the previous year. Net income was USD -2.6 million compared to -3.4 million in the prior year.
Price History
ACCURAY INCORPORATED reported its financial results for the fourth quarter of fiscal year 2023 on Wednesday, ending June 30, 2023. The stock opened at $4.0 and closed at $3.6, plunging by 12.2% from its prior closing price of $4.1. The sharp decline in the stock price was driven by weak earnings results and weaker than expected revenue. The pandemic caused disruptions to the company’s supply chain and customer demand, reducing their total revenue.
Additionally, ACCURAY INCORPORATED’s expenses increased as they continued to invest in research and development to drive growth in their products. Despite the weak quarterly results, ACCURAY INCORPORATED executives remain confident in the company’s long-term prospects. They are looking to leverage their portfolio and technology to drive sales and market expansion in the coming quarters. Live Quote…
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% |
Analysis
Through our analysis, we have detected two risk warnings in the income sheet and balance sheet of ACCURAY INCORPORATED. This suggests that investing in ACCURAY INCORPORATED may be associated with a greater degree of risk than investing in other companies. As such, it is important to consider the implications of this risk before investing. To further understand the risks involved, GoodWhale encourages potential investors to become registered users and gain access to more detailed information about the company’s finances. With access to this information, a more informed decision can be made regarding whether or not to invest in ACCURAY INCORPORATED. More…
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
Despite ACCURAY INCORPORATION’s revenue increasing by 7.5% in their fourth quarter of FY2023, their net income was USD -2.6 million, making it lower than the same period the previous year. This caused their stock price to drop the same day, which could be a sign of poor investor confidence. However, investors may still be drawn to the company due to their increased revenue, which could lead to better profitability in the future. It is important to do careful research before investing in this company to ensure that any potential investment is a wise decision.
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