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Accuray Incorporated(ARAY)Earnings, Financials & Key Ratios
ARAY•NASDAQ
$0.25
Price updated Jul 7, 2026
AboutAccuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate. The company also provides the TomoTherapy System, including the Radixact System, which allows for integrated radiation treatment planning, delivery, and data management, enabling clinicians to deliver ultra-precise treatments to approximately 50 patients per day; iDMS data management system, a fully integrated treatment planning and data management systems; and Accuray precision treatment planning system, a treatment planning and data management systems. In addition, it offers post-contract customer support, installation, training, and other professional services. The company primarily markets its products directly to customers, including hospitals and stand-alone treatment facilities through its sales organization, as well as to customers through sales agents and group purchasing organizations in the United States; and to customers directly and through distributors and sales agents internationally. Accuray Incorporated was incorporated in 1990 and is headquartered in Madison, Wisconsin.Show more
- Revenue$459M+2.7%
- EBITDA$14M+118.3%
- Net Income-$2M+89.8%
- EPS (Diluted)-0.02+90.3%
- Gross Margin32.05%+0.1%
- EBITDA Margin3.05%+112.6%
- Operating Margin1.71%+1414.3%
- Net Margin-0.35%+90.0%
- ROE-2.52%+92.0%
ARAY Price & Volume
Accuray Incorporated (ARAY) stock price & volume — 10-year historical chart
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Persistent Revenue Contraction Strains Financial Solvency Profile
Investment Thesis • Updated 2026Q3
VerdictNegative
Growth:Decelerating
Profitability:Strained
Financial:Vulnerable
Cash Flow:Deteriorating
Primary Risk:Liquidity and solvency pressure
Key Thesis Takeaways
- Accuray faces a challenging fundamental outlook characterized by a 7.4% year-over-year revenue decline in 2026Q3 and structural margin compression that has pushed gross margins down to 24.1%.
- The company's inability to achieve consistent operating leverage, coupled with a sharp contraction in deferred revenue to $11.4 million, suggests significant headwinds for future service-based stability.
- Investors should remain cautious as the firm's equity base has eroded to $41.7 million, raising concerns regarding long-term capital structure viability.
Verdict Logic
the company's persistent net losses, resulting in a -11.3% net margin in 2026Q3, combined with a significant drop in deferred revenue to $11.4 million, indicate a high risk of continued capital erosion.
ARAY Growth Metrics
Accuray Incorporated (ARAY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years1.9%
5 Years3.67%
3 Years2.17%
TTM-7.88%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-6954.38%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-6366.1%
Return on Capital
10 Years0.53%
5 Years2.86%
3 Years1.3%
Last Year2.85%
ARAY Recent Earnings
Accuray Incorporated (ARAY) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 2/12 qtrs (17%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$0.09-80.0%
$0.05
Rev
$105M-6.3%
$112M
Q1 2026
Feb 4, 2026Metric
Actual
Est
EPS
$0.11-2.2%
$0.11
Rev
$102M+1.4%
$101M
Q4 2025
Nov 5, 2025Metric
Actual
Est
EPS
$0.18-1700.0%
$0.01
Rev
$94M-23.6%
$123M
Q3 2025
Aug 13, 2025Metric
Actual
Est
EPS
$0.01-65.6%
$0.03
Rev
$128M+37.2%
$93M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $0.09vs $0.05-80.0% | $105Mvs $112M-6.3% |
| Q1 2026 | Feb 4, 2026 | $0.11vs $0.11-2.2% | $102Mvs $101M+1.4% |
| Q4 2025 | Nov 5, 2025 | $0.18vs $0.01-1700.0% | $94Mvs $123M-23.6% |
| Q3 2025 | Aug 13, 2025 | $0.01vs $0.03-65.6% | $128Mvs $93M+37.2% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Accuray Incorporated (ARAY)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $0.25 | $29.63M | -16.07 | 2.68% | -0.35% | -2.52% | — | |
| $427.30 | $151.33B | 54.29 | 20.51% | 28.15% | 16.89% | — | |
| $17.72 | $2.02B | -14.52 | 8.28% | -25.66% | -50.82% | — | |
| $95.84 | $166.94B | 25.76 | 5.67% | 13.91% | 12.09% | — | |
| $45.30 | $67.33B | 23.35 | 19.87% | 17.23% | 14.67% | — | |
| $83.83 | $107.63B | 22.47 | 8.43% | 13.2% | 9.78% | — |
Compare ARAY vs Peers
Accuray Incorporated (ARAY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ARAY SEC Filings & Documents
Accuray Incorporated (ARAY) SEC filings — annual & quarterly reports (10-K, 10-Q)
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ARAY Frequently Asked Questions
Accuray Incorporated (ARAY) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Accuray Incorporated's revenue?
Accuray Incorporated (ARAY) reported $428.6M in revenue for fiscal year 2025. This represents a 1815% increase from $22.4M in 2005.
How fast is Accuray Incorporated growing?
Accuray Incorporated (ARAY) grew revenue by 2.7% over the past year. Growth has been modest.
Is ARAY profitable?
Accuray Incorporated (ARAY) reported a net loss of $46.1M for fiscal year 2025.
Dividend & Returns
What is ARAY's return on equity?
Accuray Incorporated (ARAY) has a return on equity (ROE) of -2.5%. Negative ROE indicates the company is unprofitable.
What is Accuray Incorporated's free cash flow?
Accuray Incorporated (ARAY) had negative free cash flow of $29.0M in fiscal year 2025, likely due to heavy capital investments.