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MADISON, Wis. - Accuray Incorporated (NASDAQ:ARAY) reported fourth quarter earnings that matched analyst expectations while revenue exceeded estimates, as strong service growth helped offset product sales declines. The company’s shares edged down 0.6% following the announcement.
The radiation therapy equipment maker posted net income of $0.01 per share for the fourth quarter ended June 30, 2025, in line with analyst estimates. Revenue came in at $127.5 million, surpassing the consensus estimate of $123.78 million but representing a 5% decrease from $134.3 million in the same quarter last year.
Product revenue declined 11% YoY to $70.7 million, while service revenue increased 4% to $56.8 million compared to the prior year period. The company maintained a book-to-bill ratio of 1.2 for both the quarter and full fiscal year, indicating healthy demand for future deliveries.
"We continued to advance our strategy of innovation, access and service growth within the quarter and I am proud of how we navigated a challenging environment both within the quarter and for the fiscal year," said Suzanne Winter, President and Chief Executive Officer.
For fiscal 2025, Accuray reported total revenue of $458.5 million, a 3% increase from the previous year. The company posted a net loss of $0.02 per share for the full year, compared to a loss of $0.16 per share in fiscal 2024.
Looking ahead, Accuray provided fiscal 2026 revenue guidance of $471-485 million, significantly above analyst expectations of $445.07 million. The company also projects adjusted EBITDA between $31 million and $35 million for the upcoming fiscal year.
"Our fourth quarter and full year financial results demonstrate the resilience of our team despite macroeconomic challenges and continuing tariff uncertainty," said Ali Pervaiz, Chief Financial Officer at Accuray.
The company also highlighted the completion of its debt refinancing with what it described as "a strong partner that is invested in our long-term success."
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