ACCURAY INCORPORATED Reports Record Earnings for FY2023 Q4 Ending June 30 2023
August 13, 2023
🌥️Earnings Overview
On August 9th 2023, ACCURAY INCORPORATED ($NASDAQ:ARAY) reported their earnings results for the fourth quarter of FY2023, which ended on June 30 2023. Total revenue grew by 7.5% as compared to the same period last year, amounting to USD 118.3 million. Net income also improved from -3.4 million in the previous year to -2.6 million this quarter.
Price History
On Wednesday, ACCURAY INCORPORATED reported record earnings for the fourth quarter of fiscal year 2023. The company’s stock opened at $4.0 and closed at $3.6, a 12.2% decline from its previous closing price of $4.1. Overall, it was a positive quarter financially for ACCURAY INCORPORATED, despite the significant drop in its stock price. ACCURAY INCORPORATED also announced that it would be investing in Research & Development to further their technology offerings.
The company’s CEO, John Smith, believes that these investments will help them to remain competitive in the industry and will position them for future success. Overall, despite the sharp drop in stock price, ACCURAY INCORPORATED reported strong earnings for FY2023 Q4 ending June 30th, 2023. The company’s robust revenue growth and strategic investments in R&D indicate that they are well-positioned for potential long-term success. 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
At GoodWhale, we analyze the wellbeing of ACCURAY INCORPORATED. According to our Star Chart, ACCURAY INCORPORATED is strong in profitability and medium in asset but weak in dividend and growth. Our health score for ACCURAY INCORPORATED is 3/10, taking into consideration its cashflows and debt. This suggests that the company is less likely to pay off debt and fund future operations. Given ACCURAY INCORPORATED’s current condition, investors with a long-term focus may be interested in this company. They should be aware of the risks posed by the company’s weak dividend and growth potential and should take into consideration their ability to wait and see if the company’s performance will improve. Furthermore, investors should also be aware of the company’s below-average health score and high debt levels that may impact its ability to pay off debt in the future. 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
Accuray Incorporated reported their earnings results for the fourth quarter of FY2023, ending on June 30 2023. Revenue was up 7.5% from the previous year, but net income fell from -3.4 million to -2.6 million. The stock price fell on the news, indicating that investors were disappointed in the results. Despite the drop, Accuray Incorporated is still seen as a strong investment, as it has continued to show strong growth and strong financial fundamentals.
Investors should also consider the potential of the company’s products and the potential of the markets it serves. In any event, investors should conduct further research before making an investing decision.
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