Accuray Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Accuray Inc. filed its Q3 2024 10-Q, detailing financial data and operational periods.</b>

AI Summary

ACCURAY INC (ARAY) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Accuray Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the third quarter of their fiscal year. Key dates mentioned include various periods from 2022 to 2024. Financial data points such as Accumulated Other Comprehensive Income, Common Stock, and Convertible Senior Notes are referenced. The company's business address is 1240 Deming Way, Madison, WI 53717.

Why It Matters

For investors and stakeholders tracking ACCURAY INC, this filing contains several important signals. This 10-Q filing provides a snapshot of Accuray's financial health and operational status as of March 31, 2024, crucial for investors assessing performance. The detailed financial figures and dates within the report allow stakeholders to track the company's progress and compare it against previous periods and industry benchmarks.

Risk Assessment

Risk Level: low — ACCURAY INC shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain significant new risks beyond those typically associated with public companies in the medical device sector.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand Accuray's current operational and financial standing.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-08 — Filed As Of Date (Filed as of date)
• 0000950170-24-055736 — Accession Number (Unique identifier for the filing)
• 94 — Public Document Count (Total number of documents in the filing)

Key Players & Entities

• ACCURAY INC (company) — Filer name
• ARAY (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-08 (date) — Filing date
• 1240 DEMING WAY (address) — Business address
• MADISON (location) — Business address city
• WI (location) — Business address state
• 3841 (sic_code) — Standard Industrial Classification code

FAQ

Industry Context

Accuray Inc. operates in the surgical and medical instruments & apparatus industry, specifically focusing on radiation oncology systems.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and cash flow.
2. Review any disclosed risk factors or management discussion and analysis for insights into operational challenges and strategies.
3. Compare key financial metrics to previous quarters and the same quarter in the prior year to identify performance changes.

Key Dates

• 2024-03-31: End of Reporting Period — Marks the end of the fiscal quarter for which the 10-Q report is filed.
• 2024-05-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q, providing updated financial information for the quarter ending March 31, 2024, compared to previous reporting periods.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share ARAY The Nasdaq

Filing Documents

• aray-20240331.htm (10-Q) — 2644KB
• aray-ex10_1.htm (EX-10.1) — 65KB
• aray-ex31_1.htm (EX-31.1) — 18KB
• aray-ex31_2.htm (EX-31.2) — 18KB
• aray-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-055736.txt (&nbsp;) — 10871KB
• aray-20240331.xsd (EX-101.SCH) — 1365KB
• aray-20240331_htm.xml (XML) — 2117KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 69 Item 3. Defaults Upon Senior Securities 69 Item 4. Mine Safety Disclosures 69 Item 5. Other Information 69 Item 6. Exhibits 70

Signatures

Signatures 71 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, ClearRT, 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, and VOLO. 2

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Unaudited Condensed Con solidated Financial Statements

Item 1. Unaudited Condensed Con solidated Financial Statements Accuray Incorporated Unaudited Condensed Cons olidated Balance Sheets (in thousands, except share amounts and par value) March 31, 2024 June 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 60,450 $ 89,402 Restricted cash 674 524 Accounts receivable, net of allowance for credit losses of $ 2,791 and $ 3,079 as of March 31, 2024, and June 30, 2023, respectively (a) 73,154 74,777 Inventories 159,566 145,150 Prepaid expenses and other current assets (b) 19,043 27,612 Deferred cost of revenue 1,023 568 Total current assets 313,910 338,033 Property and equipment, net 25,387 20,926 Investment in joint venture 13,586 15,128 Operating lease right-of-use assets, net 29,127 25,853 Goodwill 57,682 57,681 Intangible assets, net 70 210 Restricted cash 1,030 1,276 Other assets 21,735 20,107 Total assets $ 462,527 $ 479,214 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 44,430 $ 33,739 Accrued compensation 21,604 23,793 Operating lease liabilities, current 5,279 4,151 Other accrued liabilities 30,703 38,271 Customer advances 15,392 20,777 Deferred revenue 73,734 72,185 Short-term debt 7,248 5,721 Total current liabilities 198,390 198,637 Long-term liabilities: Operating lease liabilities, non-current 28,217 23,602 Long-term other liabilities 4,969 4,675 Deferred revenue, non-current 23,624 27,079 Long-term debt 166,246 171,562 Total liabilities 421,446 425,555 Commitments and contingencies (Note 8) Stockholders' equity: Common stock, $ 0.001 par value; authorized: 200,000,000 shares as of March 31, 2024, and June 30, 2023, respectively; issued and outstanding: 99,244,173 and 96,534,609 shares at March 31, 2024, and June 30, 2023, respectively 99 97 Additional paid-in-c

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View this 10-Q filing on SEC EDGAR