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EX - 99.1 2 aray - ex991_6.htm EX - 99.1 Joe Diaz Investor Relations , Lytham Partners +1 ( 602 ) 889-9700 diaz@lythampartners.com ● Exhibit 99.1 ACCURAY Beth Kaplan Public Relations Director , Accuray +1 ( 408 ) 789-4426 bkaplan@accuray.com Accuray Reports Second Quarter Fiscal 2021 Financial Results SUNNYVALE , Calif . , January 27 , 2021 — Accuray Incorporated ( NASDAQ : ARAY ) today reported its financial results for the second quarter of fiscal 2021 ended December 31 , 2020 . Second Quarter Fiscal 2021 Summary Net revenue of $ 97.5 million including $ 21.3 million of system revenue in China Gross orders of $ 75.4 million , ending backlog of $ 596.2 million , an increase of 11 percent from December 31 , 2019 GAAP operating income of $ 8.2 million and GAAP net income of $ 4.8 million compared to GAAP operating income of $ 3.6 million and GAAP net income of $ 10.7 million in the prior year second quarter Adjusted EBITDA grew to $ 13.5 million from $ 7.1 million in the prior year second quarter Received 510 ( k ) FDA clearance for ClearRTTM Helical kVCT Imaging for the Radixact® System " Our second quarter performance continues to reflect the positive momentum our business is making despite the headwinds created by the COVID - 19 environment , said Josh Levine , President and CEO of Accuray . " Highlights from our second quarter performance include the beginning of system revenue conversion related to the Type A radiotherapy licenses in China as well as receiving 510 ( k ) FDA clearance of our ClearRT Helical kVCT Imaging platform for the Radixact System . We are pleased with the continued resilience and commercial cadence that our business is exhibiting as well as the recent product innovation / upgrades coming through our development pipeline . We believe the additions of the Cyberknife S7 System , Synchrony on Radixact , and ClearRT Helical kVCT Imaging to our portfolio will have meaningful clinical impact for our customers and we look forward to the adoption of these important features and the functional improvement they represent in clinical practice . " Fiscal Second Quarter Results Gross orders totaled $ 75.4 million compared to $ 98.6 million for the prior fiscal year period . Backlog as of December 31 , 2020 was $ 596.2 million , an increase of 11 percent compared to $ 539.4 million for the prior fiscal year period . Total net revenue was $ 97.5 million compared to $ 98.8 million in the same prior fiscal year period . Product revenue totaled $ 41.8 million compared to $ 43.8 million in the same prior fiscal year period , while service revenue totaled $ 55.7 million compared to $ 55.1 million in the same prior fiscal year period . Total gross profit for the fiscal 2021 second quarter was $ 40.8 million , or 41.9 percent of net revenue , comprised of product gross margin of 44.7 percent of product revenue and service gross margin of 39.8 percent of service revenue . This compares to total gross profit of $ 37.9 million , or 38.4 percent of net revenue , comprised of product gross margin of 44.0 percent of product revenue and service gross margin of 33.9 percent of service revenue in the prior fiscal year second quarter . Operating expenses were $ 32.6 million , a decrease of 5 percent compared to $ 34.3 million in the prior fiscal year second quarter . Net income was $ 4.8 million , or $ 0.05 per share , compared to a net income of $ 10.7 million , or $ 0.12 per share , in the same prior fiscal year period . The prior year second quarter net income included a non - cash , special gain of $ 13.0 million