Accuray Inc. Files Q2 2024 10-Q
Ticker: ARAY · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 1138723
Sentiment: neutral
Topics: 10-Q, financials, medical-devices
TL;DR
Accuray's Q2 2024 10-Q is in, check financials for surgical tech updates.
AI Summary
Accuray Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the quarter. Specific financial figures and operational highlights are presented within the report, reflecting the company's status in the surgical and medical instruments sector.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational performance of Accuray Inc., a key player in the medical device industry.
Risk Assessment
Risk Level: medium — The company operates in the highly regulated and competitive medical device industry, facing risks related to product development, market adoption, and regulatory approvals.
Key Numbers
- Q1 2024 — Fiscal Quarter (Indicates the first quarter of the fiscal year 2024.)
- 2024-06-30 — Date (Represents the end of the fiscal year 2024 for certain financial statement items.)
- 2024-09-30 — Date (Represents the end of the reporting period for the 10-Q filing.)
Key Players & Entities
- ACCURAY INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241106 (date) — Filing Date
- MADISON (location) — Business Address City
- WI (location) — Business Address State
- 608-824-2800 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 6, 2024.
What is the company's Standard Industrial Classification code?
The company's Standard Industrial Classification code is 3841, for Surgical & Medical Instruments & Apparatus.
Where is Accuray Inc. headquartered?
Accuray Inc. is located in Madison, WI.
What is the SEC file number for Accuray Inc.?
The SEC file number for Accuray Inc. is 001-33301.
Filing Stats: 4,388 words · 18 min read · ~15 pages · Grade level 18 · Accepted 2024-11-06 16:20:51
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share ARAY The Nasdaq
- $20.0 million — er the Credit Agreement to no more than $20.0 million. Failing to comply with the covenants t
Filing Documents
- aray-20240930.htm (10-Q) — 2150KB
- aray-ex10_1.htm (EX-10.1) — 1906KB
- aray-ex31_1.htm (EX-31.1) — 19KB
- aray-ex31_2.htm (EX-31.2) — 19KB
- aray-ex32_1.htm (EX-32.1) — 11KB
- 0000950170-24-122358.txt ( ) — 11813KB
- aray-20240930.xsd (EX-101.SCH) — 1318KB
- aray-20240930_htm.xml (XML) — 1781KB
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 30 Item 4.
Controls and Procedures
Controls and Procedures 31 PART II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 32 Item 1A.
Risk Factors
Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 67 Item 3. Defaults Upon Senior Securities 67 Item 4. Mine Safety Disclosures 67 Item 5. Other Information 67 Item 6. Exhibits 68
Signatures
Signatures 69 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
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) September 30, 2024 June 30, 2024 ASSETS Current assets: Cash and cash equivalents $ 59,209 $ 68,570 Restricted cash 485 485 Accounts receivable, net of allowance for credit losses of $ 2,280 and $ 2,251 as of September 30, 2024, and June 30, 2024, respectively (a) 91,789 92,001 Inventories, net 154,883 138,324 Prepaid expenses and other current assets (b) 21,456 23,006 Deferred cost of revenue 1,721 850 Total current assets 329,543 323,236 Property and equipment, net 25,342 24,774 Investment in joint venture 6,045 9,826 Operating lease right-of-use assets, net 33,136 33,773 Goodwill 57,810 57,672 Intangible assets, net 48 59 Restricted cash 1,438 1,337 Other assets 19,716 17,950 Total assets $ 473,078 $ 468,627 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 49,808 $ 50,020 Accrued compensation 17,540 17,128 Operating lease liabilities, current 6,779 6,218 Other accrued liabilities 25,457 28,508 Customer advances 13,132 13,988 Deferred revenue 81,321 71,649 Short-term debt 7,769 7,756 Total current liabilities 201,806 195,267 Long-term liabilities: Operating lease liabilities, non-current 31,773 32,373 Long-term other liabilities 7,335 7,389 Deferred revenue, non-current 24,470 24,114 Long-term debt 162,471 164,400 Total liabilities 427,855 423,543 Commitments and contingencies (Note 8) Stockholders' equity: Common stock, $ 0.001 par value; authorized: 200,000,000 shares as of September 30, 2024, and June 30, 2024, respectively; issued and outstanding: 100,435,251 and 100,194,932 shares at September 30, 2024, and June 30, 2024, respectively 100 100