Accuray Inc. Files 2024 Annual Report
Ticker: ARAY · Form: 10-K · Filed: Sep 19, 2024 · CIK: 1138723
Sentiment: neutral
Topics: 10-K, annual-report, medical-devices
TL;DR
Accuray's 2024 10-K is in. Full year results for surgical instruments are out.
AI Summary
Accuray Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting on its operations in surgical and medical instruments. The company's fiscal year concluded on June 30, 2024, with the filing submitted on September 19, 2024. Key financial details and operational performance are outlined in this comprehensive annual report.
Why It Matters
This filing provides investors and stakeholders with a detailed overview of Accuray's financial health and strategic direction for the past fiscal year, impacting investment decisions.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.
Key Numbers
- FY2024 — Fiscal Year (Reporting Period)
- 0630 — Fiscal Year End (End of reporting period)
Key Players & Entities
- ACCURAY INC (company) — Filer
- 20240630 (date) — Fiscal Year End
- 20240919 (date) — Filing Date
- MADISON (location) — Business Address City
- DE (location) — State of Incorporation
FAQ
What is the primary business of Accuray Inc. as indicated in the filing?
Accuray Inc. operates in the Surgical & Medical Instruments & Apparatus industry, SIC code 3841.
What is the fiscal year end date for Accuray Inc.?
The fiscal year end date for Accuray Inc. is June 30.
When was this 10-K filing submitted to the SEC?
This 10-K filing was submitted on September 19, 2024.
What is the company's primary business address?
The company's business address is 1240 Deming Way, Madison, WI 53717.
What is the SEC file number for Accuray Inc.'s 10-K?
The SEC file number for Accuray Inc.'s 10-K is 001-33301.
Filing Stats: 4,351 words · 17 min read · ~15 pages · Grade level 16.4 · Accepted 2024-09-19 16:25:23
Key Financial Figures
- $0.001 — nge on Which Registered Common Stock, $0.001 par value per share ARAY The Nasdaq
Filing Documents
- aray-20240630.htm (10-K) — 3904KB
- aray-ex10_32.htm (EX-10.32) — 2039KB
- aray-ex19_1.htm (EX-19.1) — 111KB
- aray-ex21_1.htm (EX-21.1) — 17KB
- aray-ex23_1.htm (EX-23.1) — 4KB
- aray-ex31_1.htm (EX-31.1) — 14KB
- aray-ex31_2.htm (EX-31.2) — 13KB
- aray-ex32_1.htm (EX-32.1) — 9KB
- aray-ex97_1.htm (EX-97.1) — 48KB
- img194144519_0.jpg (GRAPHIC) — 53KB
- 0000950170-24-108118.txt ( ) — 20010KB
- aray-20240630.xsd (EX-101.SCH) — 2333KB
- aray-20240630_htm.xml (XML) — 3603KB
Business
Business 4 Item 1A.
Risk Factors
Risk Factors 26 Item 1B. Unresolved Staff Comments 64 Item 1C. Cybersecurity 64 Item 2.
Properties
Properties 66 Item 3.
Legal Proceedings
Legal Proceedings 66 Item 4. Mine Safety Disclosures 66 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 67 Item 6. [RESERVED] 68 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 68 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 79 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 81 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 123 Item 9A.
Controls and Procedures
Controls and Procedures 123 Item 9B. Other Information 124 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 124 PART III Item 10. Directors, Executive Officers and Corporate Governance 127 Item 11.
Executive Compensation
Executive Compensation 127 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 127 Item 13. Certain Relationships and Related Transactions, and Director Independence 127 Item 14. Principal Accountant Fees and Services 127 PART IV Item 15. Exhibits and Financial Statement Schedules 128 Item 16. Form 10-K Summary 131
Signatures
Signatures 132 We own or have rights to various trademarks and tradenames used in our business in the United States or other countries, including the following: Accuray , Accuray Logo , CyberKnife , HiArt , RoboCouch , Synchrony , TomoTherapy , Xsight , Accuray Precision , AutoSegmentation, CTrue, H Series, iDMS , InCise, Iris, CyberKnife M6 Series, Accuray OIS Connect, PreciseART , PreciseRTX , Treatment Planning System, TomoDirect, TomoEDGE, TomoH , TomoHD , TomoHDA, TomoHelical, TomoTherapy Quality Assurance, Radixact , Onrad , S7, Accuray Helix, CyberComm, AEX , ClearRT , XChange , and VoLO. 2 Table of Contents SPECIAL NOTE REGARDING FORWARDLOOKING STATEMENTS This Annual Report on Form 10K includes forwardlooking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding expectations and beliefs regarding the effect of macroeconomic conditions, inflation and the upcoming U.S. presidential election on our operations and financial results as well as the markets and industry in general; future revenues and expenses, including our expectations regarding timing of recognition of revenue from performance obligations and our expectations regarding the impact of supply chain issues; our sales, distribution and marketing efforts; reimbursement rates and its effects on our business; regulatory requirements, including our compliance with applicable regulations; future orders and expectations regarding our book-to-bill ratio; the radiation therapy market; expectations regarding the economic impact of cancer; our strategy; our products and offerings, including their capabilities and benefits and anticipated benefits to patients and physicians; the factors that contribute to the long-term success of our products; our suppliers and manufacturing facilities; our intellectual property rights; the expected impact of chang
BUSINESS
Item 1. BUSINESS The Company Accuray Incorporated is a radiation therapy company that develops, manufactures, sells and supports market-changing solutions that are designed to deliver radiation treatments for even the most complex cases, while making commonly treatable cases even more straightforward, to meet the full spectrum of patient needs. We believe in comparison to conventional linear accelerators, our treatment delivery, planning, and data management solutions provide better accuracy, flexibility, and control; fewer treatments with shorter treatment times; and the technology to expand beyond cancer, making it easier for clinical teams around the world to provide treatments that help patients get back to living their lives, faster. Our solutions are designed to advance patient care: during each individual treatment, throughout the treatment process, and at each stage of the cancer treatment journey, from curative to palliative treatments. Our solutions include: Novel artificial intelligence driven radiation therapy systems that automatically adapt treatment delivery for targets that move, synchronizing the radiation beam with the target's motion in real-time throughout treatment delivery. Powerful treatment planning software that reduces the time to create high quality treatment plans and the time it takes to deliver patient treatments as compared to the prior planning software, so clinicians can treat more patients each day. One-of-a-kind imaging solution designed to produce exceptional diagnostic-like quality CT images, quickly and cost-effectively. Automated tools that help to identify the interfraction changes for which re-planning is clinically beneficial and facilitate adaptation of the radiation dose to precisely conform to the patient's tumor. Distinctive software that accelerates and automates the re-planning process to make re-treatment of a previously irradiated area more efficient for practices and more effective for patients. Ad