Accuray Reports Q1 2027 Revenue Decline Amid China Market Headwinds
Accuray (ARAY) reported first-quarter fiscal 2027 net revenue of $86.5 million, an 8% decrease compared to the prior year. The decline was primarily driven by a 26% drop in product revenue as geopolitical factors and market conditions in China hindered unit shipments. Despite these challenges, service revenue grew by 4% to $59.2 million, supported by pricing actions and an expanding global installed base of over 1,100 systems. The company achieved a positive Adjusted EBITDA of $2.5 million, a significant turnaround from the $4.1 million loss in the same period last year, largely due to reduced structural costs and transformation savings. However, the quarter was marked by non-cash adjustments, including a $35.4 million goodwill impairment charge following a debt restructuring transaction that included a $59.6 million gain on extinguishment of debt.
Tickers: $ARAY
Topics: EBITDA improvement geopolitical impact revenue decline service revenue growth
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