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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 Third Quarter Fiscal 2021 Financial Results SUNNYVALE , Calif . , April 27 , 2021 - Accuray Incorporated ( NASDAQ : ARAY ) today reported its financial results for the third quarter of fiscal 2021 ended March 31 , 2021 . Third Quarter Fiscal 2021 Summary Net revenue of $ 102.6 million including $ 24.9 million of system revenue in China Gross orders of $ 87.4 million , ending backlog of $ 610.8 million , an increase of 7 percent from March 31 , 2020 GAAP operating income of $ 4.4 million and GAAP net loss of $ 0.4 million compared to GAAP operating income of $ 8.0 million and GAAP net income of $ 2.6 million in the prior year third 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 Third Quarter Results Gross orders totaled $ 87.4 million compared to $ 106.0 million for the prior fiscal year period . Backlog as of March 31 , 2020 was $ 610.8 million , an increase of 7 percent compared to $ 569.9 million for the prior fiscal year period . Total net revenue was $ 102.6 million compared to $ 99.5 million in the same prior fiscal year period . Product revenue totaled $ 47.4 million compared to $ 45.5 million in the same prior fiscal year period , while service revenue totaled $ 55.1 million compared to $ 54.0 million in the same prior fiscal year period . Total gross profit for the fiscal 2021 third quarter was $ 39.5 million , or 38.5 percent of net revenue , comprised of product gross margin of 41.6 percent of product revenue and service gross margin of 35.9 percent of service revenue . This compares to total gross profit of $ 39.1 million , or 39.3 percent of net revenue , comprised of product gross margin of 39.4 percent of product revenue and service gross margin of 39.2 percent of service revenue in the prior fiscal year second quarter . Operating expenses were $ 35.1 million , an increase of 13 percent compared to $ 31.2 million in the prior fiscal year third quarter . Net loss was $ 0.4 million , or $ 0 per share , compared to a net income of $ 2.6 million , or $ 0.3 per share , in the same prior fiscal year period . Adjusted EBITDA for the third fiscal quarter 2021 was $ 8.8 million compared to $ 11.3 million in the same prior fiscal year period . Cash , cash equivalents and short - term restricted cash were $ 130.1 million as of December 31 , 2020 compared with $ 116.0 million as of December 31 , 2020 . Fiscal Nine Months Results