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Accuray (ARAY) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Nov 6, 2026 · Accuray (ARAY) Q1 FY27 earnings results →

Q1 FY27 Revenue down 8% year over year to $86.5M · 12¢ of every $1 of revenue kept as net profit · operating margin -42.2%

Accuray made $86.5M in Q1 FY27 (-8% Y/Y): Service $59.2M, Product $27.3M. Operating margin -42.2%, net earnings $10.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.

Revenue$86.5M
Year over year-8%
Operating margin-42.2%
Net earnings$10.1M
Operating cash flow−$3.8M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $86.5M in Q1 FY27, down 8% year over year and down 14% from the previous quarter. Service was the largest line at 68% of revenue. Product lost $9.8M year over year (down 26%), 132% of the total change.

Gross margin was 30.1%, up 1.4 points from Q1 FY26. Operating costs exceeded revenue by $36.5M, an operating margin of -42.2%. Operating expenses grew 63% against a revenue fall of 8%. The fastest-growing cost line was Other operating costs (+3929%). Net earnings were $10.1M. The effective tax rate was 4.9%. Non-operating items added $47.2M, 443% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was −$3.8M. Non-cash charges added back $2.0M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items used $17.1M. Capital expenditures of $124K exceeded it, leaving free cash flow of −$3.9M.

Quarterly history

Accuray revenue by quarterAccuray revenue by quarter$113MQ3 FY25$128MQ4 FY25$93.9MQ1 FY26$102MQ2 FY26$105MQ3 FY26$101MQ4 FY26$86.5MQ1 FY27
Accuray net earnings by quarterAccuray net earnings by quarter−$1.3MQ3 FY25$1.1MQ4 FY25−$21.7MQ1 FY26−$13.8MQ2 FY26−$11.8MQ3 FY26−$1.9MQ4 FY26$10.1MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QNov 6, 2026$86.5M-8%-42.2%$10.1M−$3.8M
Q4 FY2610-KAug 27, 2026$101M-21%5.5%−$1.9M$2.4M
Q3 FY2610-QMay 6, 2026$105M-7%-8.7%−$11.8M−$5.6M
Q2 FY2610-QFeb 17, 2026$102M-12%-11.3%−$13.8M−$16.0M
Q1 FY2610-QNov 5, 2025$93.9M-8%-12.0%−$21.7M$12.2M
Q4 FY2510-KAug 28, 2025$128M-5%3.3%$1.1M−$9.7M
Q3 FY2510-QMay 2, 2025$113M+12%0.9%−$1.3M$18.1M

Charts

Accuray: revenue growth, year over year and quarter over quarterAccuray: revenue growth, year over year and quarter over quarterY/YQ/Q+12%Q3 FY25-5%+13%Q4 FY25-8%-26%Q1 FY26-12%+9%Q2 FY26-7%+3%Q3 FY26-21%-4%Q4 FY26-8%-14%Q1 FY27
Latest (Q1 FY27): Y/Y -8%, Q/Q -14%.
Accuray: where the cash came from (+) and went (−), TTM to Q1 FY27Accuray: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow−$23.0MCash drawn (+) / kept (−)$19.5MNet borrowing (+) / repaid (−)$17.0MOther investing−$9.4MCapital spending−$4.1MExchange rates−$881KOther financing$769K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Accuray: profit against cash, quarter by quarterAccuray: profit against cash, quarter by quarterNet incomeOperating cash flow$2.5M$1.8MQ2 FY25−$1.3M$18.1MQ3 FY25$1.1M−$9.7MQ4 FY25−$21.7M$12.2MQ1 FY26−$13.8M−$16.0MQ2 FY26−$11.8M−$5.6MQ3 FY26−$1.9M$2.4MQ4 FY26$10.1M−$3.8MQ1 FY27
Latest (Q1 FY27): Net income $10.1M, Operating cash flow −$3.8M.
Accuray: diluted shares by fiscal yearAccuray: diluted shares by fiscal year92MFY2192MFY2295MFY2398MFY24103MFY25
+11.7% since FY21: more shares outstanding (issuance, stock pay).
Accuray in its industry: growth against margin (111 companies, SIC 3841)Accuray in its industry: growth against margin (111 companies, SIC 3841)revenue growth, year over year →↑ operating marginmedian +10%median -9%MDLNMMMSYKBSXBDXBAXSOLVRMDDXCMWSTMMEDPODDGMEDTFXICUIMMSIIARTPENHAETNDMEMBCIRTCATECGKOSOFIXINSPNVCRUFPTATRCBVSAORTPRCTTCMDANGOKIDSSKINLMATHTFLMDXGCERSSIBNTMCISTIMINFUBBNXKMTSOSURANIKDCTHRCELSGHTIRMDXTNTLUNGNPCEPDEXTELACARLLNSRSIMOBIAPYXSSIICVRXCLPTKRMDTLSIPROFSNWVCTSOIDXGUTMDRVPSNOAPREMNEPHDRIOVVOSBTCYNXGLMDAIMDNCPMINONE.SRTSSINTIVFNMTCNSPRAURXXAIRLUCDTNONINBSRNXTVTAKUSAQICUVYCOHRGNCNSYPLSEPETVFEMYOSRHCODXOBIORDGLPAVMGUTSARAY (-8%, -42%)
Surgical & Medical Instruments & Apparatus; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Accuray

Accuray Incorporated is a radiation therapy company that develops, manufactures, sells and supports treatment delivery, planning, imaging and data management solutions designed to help clinical teams deliver precise radiation treatments across a broad range of clinical cases. Our portfolio includes the CyberKnife robotic platform and a differentiated helical portfolio that includes the Accuray Stellar, Radixact, Accuray Helix and Tomo C Systems, where available. We believe these solutions provide clinicians with advanced capabilities to support accuracy, flexibility, motion management, image guidance, adaptive workflows and personalized treatment delivery.

In its own words, from its 10-K, filed Aug 27, 2026.

Accuray against its Surgical & Medical Instruments & Apparatus peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -8% against the peers' median +5%. Operating margin: -42.2% against the peers' median 13.3%.

CompanyQuarterRevenueY/YOp. margin
ARAY AccurayQ1 FY27$86.5M-8%-42.2%
MDLN MedlineQ3 2026$7.9B+10%6.4%
MMM 3MQ3 2026$6.6B+1%23.7%
SYK StrykerQ3 2026$6.5B+8%15.9%
BSX Boston ScientificQ3 2026$5.1B+1%16.1%
BDX Becton DickinsonQ3 FY26$5.0B+5%13.3%
BAX Baxter InternationalQ3 2026$3.0B+5%7.6%
SOLV SolventumQ3 2026$1.9B-7%3.5%
RMD ResMedQ1 FY27$1.4B+6%32.0%

Source: Accuray 10-Q on SEC EDGAR · CIK 1138723 · Surgical & Medical Instruments & Apparatus

Guidance and outlook

Accuray: what its forward-looking statements are about (10-Q filed 2026-11-06)Accuray: what its forward-looking statements are about (10-Q filed 2026-11-06)Demand6The economy4Costs4Other3Legal & regulation1Supply chain1Financing1
20 statements; tone -0.30 (−1 all cautious, +1 all confident); 7 hedged.
Accuray: outlook statements against the filing beforeAccuray: outlook statements against the filing beforeConfident3Cautious9

13F: who owns ARAY and who is buying

Largest holders of ARAY (13F)Largest holders of ARAY (13F)Vanguard Group$4.8MFoundry Partners, LLC$3.2MNeuberger Berman Group LLC$1.6MArmistice Capital, LLC$1.5MWeber Capital Management LLC$1.3MVanguard Capital Management LLC$1.1MBlackRock$842KAQR Capital Management LLC$701KJane Street Group, LLC$552KRenaissance Technologies LLC$532K
Funds' net buying of ARAY by quarter (13F)Funds' net buying of ARAY by quarter (13F)−$2.8M2024-09$3.0M2024-12$4.0M2025-03$8.8M2025-06$406K2025-09−$2.2M2025-12−$762K2026-03−$2.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ARAY

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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中文版：Accuray（ARAY）财报

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