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Accuray (ARAY) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Feb 17, 2026
Accuray (ARAY) reported revenue of $102M for the second quarter fiscal 2026 (Q2 FY26), -12% from a year earlier and +9% from the quarter before. Operating margin was -11.3%, net loss $13.8M (13.5% of revenue).
Accuray, Q2 FY26: revenue $102M (-12% year over year), operating margin -11.3%, net loss $13.8M, operating cash flow −$16.0M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $102M | +9% | -12% |
| Operating profit | −$11.6M | — | — |
| Net earnings | −$13.8M | — | — |
| Operating cash flow | −$16.0M | -231% | — |
What changed
Revenue was $102.2M in Q2 FY26, down 12% year over year and up 9% from the previous quarter. Service was the largest line at 56% of revenue. Product lost $16.2M year over year (down 26%), 116% of the total change.
Gross margin was 23.5%, down 12.5 points from a year earlier. Operating costs exceeded revenue by $11.6M, an operating margin of -11.3%. Operating expenses fell 4% while revenue fell 12%. The quarter ended with a net loss of $13.8M, narrower than the previous quarter's $21.7M loss.
Operating cash flow was −$16.0M. Non-cash charges added back $2.2M of depreciation and amortization and $882K of share-based compensation. Working capital and other items used $5.3M. Capital expenditures of $3.0M exceeded it, leaving free cash flow of −$19.0M.
Questions
What was Accuray's revenue in the second quarter fiscal 2026?
Accuray (ARAY) reported revenue of $102M for the second quarter fiscal 2026 (Q2 FY26), -12% from a year earlier and +9% from the quarter before.
Was Accuray profitable in the second quarter fiscal 2026?
Operating loss was $11.6M (-11.3% of revenue) and net loss $13.8M.
Source: Accuray 10-Q on SEC EDGAR.