MADISON, Wis. - Accuray (NASDAQ:ARAY) Incorporated (NASDAQ: ARAY), a radiation therapy company with annual revenues of $444.2 million, announced the appointment of Leonel Peralta as its new Senior Vice President and Chief Operations Officer, effective February 3, 2025. Peralta will oversee the company’s global manufacturing operations, aligning them with Accuray’s business goals to enhance supply chain profitability and efficiency while maintaining high standards of customer service. According to InvestingPro data, the company faces profitability challenges but has shown strong momentum with significant returns in recent months.
With over 25 years of leadership experience in supply chain management and manufacturing optimization, Peralta brings a wealth of knowledge from his previous roles. Before joining Accuray, he served as Vice President, Head of Global Operations for Siemens (ETR:SIEGn) Healthineers’ ultrasound division, where he was credited with transforming their supply chain processes and manufacturing operations. His career also includes executive positions at Medtronic (NYSE:MDT) Diabetes, Hill-Rom (NYSE:HRC), KCI Medical (TASE:PMCN), and GE Healthcare.
Accuray’s President and CEO, Suzanne Winter, expressed confidence in Peralta’s ability to contribute to the company’s growth and operational excellence, particularly after the recent expansion of Accuray’s radiation therapy system portfolio. With analyst price targets ranging from $5.50 to $7.00, significantly above the current trading price of $2.24, market experts appear to share this optimism. For detailed analysis and additional insights, investors can access comprehensive research reports on InvestingPro.
Peralta expressed his honor in joining Accuray, highlighting the company’s commitment to fighting cancer and its dedication to making advanced technology accessible globally.
Accuray is known for its innovation in radiation therapy, focusing on oncology and neuro-radiosurgery. The company continues to strive for advancements in treatment for complex cases and aims to improve patient outcomes.
This leadership change comes at a time when Accuray is looking to strengthen its market position and operational capabilities, with the company’s next earnings announcement scheduled for January 22, 2025. The information regarding Peralta’s appointment is based on a press release statement from Accuray Incorporated. InvestingPro subscribers can access additional financial metrics, valuation analysis, and expert insights to better understand the company’s strategic positioning and future prospects.
In other recent news, Accuray Incorporated announced a mixed start to their fiscal year, with a slight 2% decline in overall revenue to $102 million, but with notable growth in service revenue and a strong performance in China. The company’s product revenue fell by 9% to $48 million, while service revenue increased by 5% to $53 million, largely driven by contract revenue. Accuray also reported a significant 30% year-over-year revenue growth in China due to the demand for the Tomo C system. As a result, full-year revenue guidance has been revised upwards from $460-$470 million to $462-$472 million, and Adjusted EBITDA guidance for FY 2025 has been raised from $27.5-$29.5 million to $28-$30 million.
In other executive news, Accuray’s Senior Vice President of Global Operations, Michael Hoge, is set to leave the company. His departure is not due to any disagreements or disputes with its operations or policies. Accuray is now undertaking a comprehensive search for Hoge’s successor. Lastly, the company is expecting to benefit from deferred margins from Tomo C shipments, contributing approximately $3 million to $4 million to adjusted EBITDA. These are the recent developments for Accuray Incorporated.
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