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About

Accuray Incorporated engages in the design, development, manufacture, and sale of radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. The company offers the CyberKnife platform, 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. It also provides the TomoTherapy platform, 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, the company offers post-contract customer support, installation, training, and other professional services. It 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.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Medical Devices Market Cap 70.45M
Enterprise Value 153.49M Income -35.62M Sales 436.97M
Book/sh 0.45 Cash/sh 0.98 Dividend Yield —
Payout 0.00% Employees 990 IPO —
P/E — Forward P/E -19.77 PEG —
P/S 0.16 P/B 1.32 P/C —
EV/EBITDA -90.29 EV/Sales 0.35 Quick Ratio 0.60
Current Ratio 1.47 Debt/Eq 289.67 LT Debt/Eq —
EPS (ttm) -0.31 EPS next Y -0.03 EPS Growth —
Revenue Growth 16.80% Earnings 2026-04-29 ROA -1.18%
ROE -70.32% ROIC — Gross Margin 27.85%
Oper. Margin 3.73% Profit Margin -8.15% Shs Outstand 118.78M
Shs Float 113.01M Short Float 4.92% Short Ratio 7.14
Short Interest — 52W High 2.13 52W Low 0.50
Beta 1.15 Avg Volume 1.01M Volume 1.40M
Target Price $2.52 Recom None Prev Close $0.56
Price $0.59 Change 5.55%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$2.53
Mean price target
2. Current target
$0.59
Latest analyst target
3. DCF / Fair value
$-0.12
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$0.59
Low
$2.00
High
$3.05
Mean
$2.53

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-05 main BTIG Buy → Buy $2
2025-11-06 main BTIG Buy → Buy $4
2025-08-14 main BTIG Buy → Buy $5
2024-02-13 init Roth MKM — → Buy $9
2023-10-04 reit B. Riley Securities Buy → Buy $8
2022-06-24 main BTIG — → Buy $7
2022-06-23 init B. Riley Securities — → Buy $8
2021-12-22 init Loop Capital — → Buy $8
2020-01-21 up BTIG Neutral → Buy —
2018-11-01 up Citigroup Sell → Neutral $4
2018-08-17 main Citigroup Sell → Sell $4
2017-12-13 down JP Morgan Neutral → Underweight —
2017-11-30 init Lake Street — → Buy $10
2017-08-23 main Jefferies — → Buy $6
2017-02-06 init Aegis Capital — → Buy —
2016-12-14 down JP Morgan Overweight → Neutral $6
2016-09-13 init Cowen & Co. — → Outperform —
2015-12-22 init RBC Capital — → Sector Perform $8
2015-11-12 init Citigroup — → Sell $6
2015-01-12 init Northland Capital Markets — → Outperform $11
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 54875 30878.0 — Purchase at price 0.56 per share. MAYER STEVEN F Director — 2026-02-20 00:00:00 D
1 195125 103797.0 — Purchase at price 0.53 per share. MAYER STEVEN F Director — 2026-02-19 00:00:00 D
2 9433 nan — — SCOTT BYRON C Director — 2025-12-31 00:00:00 D
3 50314 nan — — CHALKE SANDEEP Officer — 2025-11-28 00:00:00 D
4 44025 nan — — PERVAIZ ALI Chief Financial Officer — 2025-11-28 00:00:00 D
5 895391 — — Stock Award(Grant) at price 0.00 per share. MAYER STEVEN F Director — 2025-11-28 00:00:00 D
6 50000 — — Stock Award(Grant) at price 0.00 per share. GALBATO CHAN W Director — 2025-11-28 00:00:00 D
7 56603 nan — — LE GRAND ANNE BRYCE Director — 2025-11-21 00:00:00 D
8 56603 nan — — SCOTT BYRON C Director — 2025-11-21 00:00:00 D
9 56603 nan — — NISHIMURA MIKA Director — 2025-11-21 00:00:00 D
Financials
Line Item2025-06-302024-06-302023-06-302022-06-30
TaxEffectOfUnusualItems36.33K-809.97K-184.38K-549.78K
TaxRateForCalcs0.210.210.210.21
NormalizedEBITDA20.07M9.57M9.25M14.26M
TotalUnusualItems173.00K-3.86M-878.00K-2.62M
TotalUnusualItemsExcludingGoodwill173.00K-3.86M-878.00K-2.62M
NetIncomeFromContinuingOperationNetMinorityInterest-1.59M-15.54M-9.28M-5.35M
ReconciledDepreciation6.15M5.91M4.53M5.51M
ReconciledCostOfRevenue311.54M303.63M293.64M269.95M
EBITDA20.24M5.71M8.37M11.64M
EBIT14.09M-196.00K3.84M6.13M
NetInterestIncome-11.76M-10.39M-10.63M-8.13M
InterestExpense12.95M11.62M10.63M8.13M
InterestIncome1.19M1.23M
NormalizedIncome-1.73M-12.50M-8.59M-3.28M
NetIncomeFromContinuingAndDiscontinuedOperation-1.59M-15.54M-9.28M-5.35M
TotalExpenses450.67M446.05M445.22M421.76M
TotalOperatingIncomeAsReported7.84M504.00K2.38M8.15M
DilutedAverageShares102.77M98.27M94.88M92.09M
BasicAverageShares102.77M98.27M94.88M92.09M
DilutedEPS-0.02-0.16-0.10-0.06
BasicEPS-0.02-0.16-0.10-0.06
DilutedNIAvailtoComStockholders-1.59M-15.54M-9.28M-5.35M
NetIncomeCommonStockholders-1.59M-15.54M-9.28M-5.35M
NetIncome-1.59M-15.54M-9.28M-5.35M
NetIncomeIncludingNoncontrollingInterests-1.59M-15.54M-9.28M-5.35M
NetIncomeContinuousOperations-1.59M-15.54M-9.28M-5.35M
TaxProvision2.73M3.73M2.49M3.35M
PretaxIncome1.13M-11.82M-6.79M-2.00M
OtherIncomeExpense5.06M-1.93M1.46M-2.02M
OtherNonOperatingIncomeExpenses170.00K88.00K-232.00K356.00K
SpecialIncomeCharges1.48M0.000.000.00
OtherSpecialCharges-1.48M9.95M
EarningsFromEquityInterest4.71M1.84M2.57M241.00K
GainOnSaleOfSecurity-1.30M-3.86M-878.00K-2.62M
NetNonOperatingInterestIncomeExpense-11.76M-10.39M-10.63M-8.13M
InterestExpenseNonOperating12.95M11.62M10.63M8.13M
InterestIncomeNonOperating1.19M1.23M
OperatingIncome7.84M504.00K2.38M8.15M
OperatingExpense139.13M142.42M151.58M151.81M
ResearchAndDevelopment47.94M49.73M57.13M57.75M
SellingGeneralAndAdministration91.19M92.69M94.45M94.06M
SellingAndMarketingExpense43.31M42.62M46.18M49.66M
GeneralAndAdministrativeExpense47.87M50.07M48.27M44.39M
OtherGandA47.87M50.07M48.27M44.39M
GrossProfit146.97M142.92M153.96M159.96M
CostOfRevenue311.54M303.63M293.64M269.95M
TotalRevenue458.50M446.55M447.61M429.91M
OperatingRevenue458.50M446.55M447.61M429.91M
Line Item2025-06-302024-06-302023-06-302022-06-30
OrdinarySharesNumber112.64M100.19M96.53M93.50M
ShareIssued112.64M100.19M96.53M93.50M
NetDebt79.10M103.59M87.88M91.73M
TotalDebt176.38M210.75M205.04M199.49M
TangibleBookValue23.35M-12.65M-4.23M-4.90M
InvestedCapital217.69M217.24M230.94M233.66M
WorkingCapital124.89M127.97M139.40M142.03M
NetTangibleAssets23.35M-12.65M-4.23M-4.90M
CapitalLeaseObligations39.86M38.59M27.75M19.02M
CommonStockEquity81.17M45.08M53.66M53.19M
TotalCapitalization204.96M209.48M225.22M225.10M
TotalEquityGrossMinorityInterest81.17M45.08M53.66M53.19M
StockholdersEquity81.17M45.08M53.66M53.19M
GainsLossesNotAffectingRetainedEarnings-1.84M-4.22M422.00K2.41M
OtherEquityAdjustments-1.84M-4.22M422.00K2.41M
RetainedEarnings-519.27M-517.68M-502.14M-492.52M
AdditionalPaidInCapital602.16M566.89M555.28M543.21M
CapitalStock113.00K100.00K97.00K94.00K
CommonStock113.00K100.00K97.00K94.00K
PreferredStock0.000.000.00
TotalLiabilitiesNetMinorityInterest389.07M423.54M425.56M419.66M
TotalNonCurrentLiabilitiesNetMinorityInterest196.49M228.28M226.92M210.80M
OtherNonCurrentLiabilities5.16M7.39M4.67M3.75M
DerivativeProductLiabilities8.50M0.00
NonCurrentDeferredLiabilities26.57M24.11M27.08M24.69M
NonCurrentDeferredRevenue26.57M24.11M27.08M24.69M
LongTermDebtAndCapitalLeaseObligation156.27M196.77M195.16M182.36M
LongTermCapitalLeaseObligation32.48M32.37M23.60M10.45M
LongTermDebt123.79M164.40M171.56M171.91M
CurrentLiabilities192.58M195.27M198.64M208.86M
OtherCurrentLiabilities6.13M6.31M5.35M7.03M
CurrentDeferredLiabilities94.50M85.64M92.96M100.67M
CurrentDeferredRevenue94.50M85.64M92.96M100.67M
CurrentDebtAndCapitalLeaseObligation20.11M13.97M9.87M17.13M
CurrentCapitalLeaseObligation7.38M6.22M4.15M8.57M
CurrentDebt12.73M7.76M5.72M8.56M
OtherCurrentBorrowings12.73M7.76M5.72M8.56M
PensionandOtherPostRetirementBenefitPlansCurrent14.57M17.13M23.79M29.44M
CurrentProvisions3.58M6.08M3.36M4.72M
PayablesAndAccruedExpenses53.68M66.14M63.30M49.87M
CurrentAccruedExpenses6.27M9.86M15.95M10.31M
InterestPayable967.00K485.00K453.00K
Payables47.41M56.27M47.35M39.56M
TotalTaxPayable13.38M6.25M13.61M8.22M
IncomeTaxPayable973.00K1.21M900.00K
AccountsPayable34.03M50.02M33.74M31.34M
TotalAssets470.24M468.63M479.21M472.85M
TotalNonCurrentAssets152.77M145.39M141.18M121.96M
OtherNonCurrentAssets18.68M8.00M6.54M5.45M
NonCurrentDeferredAssets6.12M8.43M10.10M9.75M
NonCurrentDeferredTaxesAssets756.00K659.00K860.00K
NonCurrentAccountsReceivable3.78M2.86M4.73M5.30M
InvestmentsAndAdvances4.61M9.83M15.13M13.88M
LongTermEquityInvestment4.61M9.83M15.13M13.88M
InvestmentsinJointVenturesatCost4.61M9.83M15.13M13.88M
GoodwillAndOtherIntangibleAssets57.82M57.73M57.89M58.09M
OtherIntangibleAssets15.00K59.00K210.00K250.00K
Goodwill57.80M57.67M57.68M57.84M
NetPPE61.77M58.55M46.78M29.48M
AccumulatedDepreciation-77.91M-73.68M-78.56M-79.21M
GrossPPE139.68M132.23M125.34M108.69M
Leases32.49M30.99M26.64M26.66M
ConstructionInProgress4.64M2.55M13.50M3.00M
OtherProperties33.12M33.77M25.85M16.80M
MachineryFurnitureEquipment69.44M64.91M59.35M62.24M
Properties0.000.000.000.00
CurrentAssets317.46M323.24M338.03M350.89M
OtherCurrentAssets6.93M3.97M1.68M3.57M
CurrentDeferredAssets3.71M2.73M2.35M3.05M
RestrictedCash574.00K485.00K524.00K204.00K
PrepaidAssets9.95M10.31M11.63M11.57M
Inventory141.02M138.32M145.15M142.25M
FinishedGoods77.17M67.00M64.74M64.02M
WorkInProcess14.84M13.63M17.47M16.37M
RawMaterials49.00M57.70M62.95M61.87M
Receivables97.87M98.86M87.30M101.50M
OtherReceivables2.45M2.46M13.32M12.35M
TaxesReceivable12.22M4.39M12.52M7.06M
AccountsReceivable83.19M92.00M74.78M94.44M
AllowanceForDoubtfulAccountsReceivable-369.00K-2.25M-3.08M-1.00M
GrossAccountsReceivable83.56M94.25M77.86M95.44M
CashCashEquivalentsAndShortTermInvestments57.42M68.57M89.40M88.74M
CashAndCashEquivalents57.42M68.57M89.40M88.74M
Line Item2025-06-302024-06-302023-06-302022-06-30
FreeCashFlow-5.66M-15.51M2.86M-7.12M
RepurchaseOfCapitalStock0.000.00-14.08M
RepaymentOfDebt-169.50M-11.00M-8.87M-19.00M
IssuanceOfDebt177.00M5.00M5.00M0.00
IssuanceOfCapitalStock1.63M2.25M2.20M3.89M
CapitalExpenditure-8.52M-3.60M-12.68M-4.72M
InterestPaidSupplementalData9.74M10.52M9.85M7.46M
IncomeTaxPaidSupplementalData3.87M1.75M2.15M1.40M
EndCashPosition62.13M70.39M91.20M90.15M
BeginningCashPosition70.39M91.20M90.15M118.20M
EffectOfExchangeRateChanges1.66M-1.35M302.00K-5.56M
ChangesInCash-9.91M-19.46M746.00K-22.49M
FinancingCashFlow-4.25M-3.95M-2.11M-15.37M
CashFlowFromContinuingFinancingActivities-4.25M-3.95M-2.11M-15.37M
NetOtherFinancingCharges-13.38M-198.00K-447.00K-258.00K
ProceedsFromStockOptionExercised3.89M3.03M
NetCommonStockIssuance1.63M2.25M2.20M3.89M
CommonStockPayments0.000.00-14.08M
CommonStockIssuance1.63M2.25M2.20M3.89M
NetIssuancePaymentsOfDebt7.50M-6.00M-3.87M-19.00M
NetShortTermDebtIssuance5.00M-15.00M20.00M
ShortTermDebtPayments0.00-15.00M-5.00M
ShortTermDebtIssuance5.00M0.0025.00M
NetLongTermDebtIssuance7.50M-6.00M-3.87M-19.00M
LongTermDebtPayments-169.50M-11.00M-8.87M-19.00M
LongTermDebtIssuance177.00M5.00M5.00M0.00
InvestingCashFlow-8.52M-3.60M-12.68M-4.72M
CashFlowFromContinuingInvestingActivities-8.52M-3.60M-12.68M-4.72M
NetBusinessPurchaseAndSale0.000.00-79.00K
PurchaseOfBusiness0.000.00-79.00K
NetIntangiblesPurchaseAndSale0.00-67.00K0.000.00
PurchaseOfIntangibles0.00-67.00K0.000.00
NetPPEPurchaseAndSale-4.27M-3.60M-12.61M-4.72M
PurchaseOfPPE-4.27M-3.60M-12.61M-4.72M
CapitalExpenditureReported-4.25M0.00
OperatingCashFlow2.86M-11.90M15.54M-2.40M
CashFlowFromContinuingOperatingActivities2.86M-11.90M15.54M-2.40M
ChangeInWorkingCapital-18.20M-21.91M4.62M-22.60M
ChangeInOtherWorkingCapital4.05M-9.38M-6.39M1.34M
ChangeInOtherCurrentLiabilities620.00K321.00K-324.00K-880.00K
ChangeInPayablesAndAccruedExpense-24.58M859.00K3.74M18.36M
ChangeInAccruedExpense-5.91M-16.51M887.00K6.68M
ChangeInPayable-18.67M17.36M2.85M11.68M
ChangeInAccountPayable-18.67M17.36M2.85M11.68M
ChangeInPrepaidAssets-2.54M6.12M-4.03M-6.04M
ChangeInInventory-9.11M-4.00M-6.86M-22.86M
ChangeInReceivables13.36M-15.83M18.49M-12.52M
ChangesInAccountReceivables13.36M-15.83M18.49M-12.52M
OtherNonCashItems2.06M955.00K926.00K817.00K
StockBasedCompensation10.20M9.48M10.05M10.60M
ProvisionandWriteOffofAssets-101.00K-479.00K2.29M266.00K
AssetImpairmentCharge2.22M6.02M4.37M3.48M
DeferredTax156.00K1.40M456.00K1.78M
DeferredIncomeTax156.00K1.40M456.00K1.78M
DepreciationAmortizationDepletion6.15M5.91M4.53M5.51M
DepreciationAndAmortization6.15M5.91M4.53M5.51M
OperatingGainsLosses1.98M2.26M-2.42M3.09M
EarningsLossesFromEquityInvestments2.95M2.26M-2.29M3.06M
GainLossOnInvestmentSecurities499.00K
GainLossOnSaleOfPPE11.00K-135.00K28.00K106.00K
NetIncomeFromContinuingOperations-1.59M-15.54M-9.28M-5.35M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for ARAY
Date User Asset Broker Type Position Size Entry Price Patterns