Accuray Reports Mixed Fiscal Fourth-Quarter Results Amid Balance Sheet Improvements and Chinese Market Challenges
On August 19, Accuray Incorporated (NASDAQ:ARAY) reported a mixed fiscal fourth-quarter performance marked by balance sheet improvements but continued struggles in its China market. Total net revenue fell to $100.9 million for the quarter, down 21%, with product revenue declining sharply by 42% due largely to geopolitical and trade policy issues affecting sales in China. The company secured a significant financial rescue through TCW Asset Management’s transaction that converted debt into equity and provided additional cash injections totaling $60 million. This improved liquidity alongside cost discipline, which delivered over $20 million in savings during fiscal 2026, helped strengthen the balance sheet. Service revenue grew by 6% to $60.1 million due to pricing actions and a larger installed base. Despite these positives, Accuray’s full-year operating loss widened to $26.4 million from an income of $7.8 million in fiscal 2025, with adjusted EBITDA dropping significantly as well. Management did not provide formal guidance for the upcoming year due to ongoing uncertainties related to trade policy and order timing.
Tickers: $ARAY
Topics: balance sheet cost discipline debt restructuring revenue decline