Accuray Inc
Accuray Inc develops and markets advanced medical equipment and technology, primarily focused on radiation therapy systems for the treatment of cancer.
Business. Accuray Inc (ARAY.O) is a healthcare services and equipment company specializing in advanced medical equipment and technology. The firm operates within the Advanced Medical Equipment & Technology industry, primarily generating revenue through product sales. Accuray is headquartered in the United States and is listed on the NASDAQ stock exchange. Specific details regarding operating segments and geographic revenue mix are not available.
Analyst recommendations
2 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
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Analysis
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- Company
- EarningsFY 2026 earnings (expected)2026-08-09 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Accuray Incorporated (ARAY.O) has entered the monitoring scope for the first time, establishing a baseline for future analysis with no prior data available for delta computation. This initial snapshot reveals a shareholder base comprising 24 top holders, providing a foundational view of the company's ownership structure as it begins to be tracked in this financial context. The most material development in this initial report is the detection of multiple notable additions to the shareholder registry, all dated as of March 31, 2026. These changes were detected on June 20, 2026, and include new positions from several investors, indicating fresh capital allocation or portfolio adjustments by these entities during the first quarter of 2026. Specifically, the data highlights new holdings from investors identified by IDs 478, 481, 486, 487, 499, 500, and 502. The largest of these new positions belongs to investor ID 499, who holds 1,401,766 shares valued at approximately $0.54 million, representing a weight of roughly 0.0097% in their portfolio. Other significant new entries include investor ID 500 with 861,635 shares and investor ID 502 with 717,045 shares, while smaller positions were established by investors ID 487, 486, 481, and 478. These new holdings contribute to the broader profile of Accuray, which currently has one officer and is followed by five analysts, though it holds no index memberships. The emergence of these new shareholders provides early insight into institutional or significant investor interest in the company, setting the stage for tracking future changes in ownership concentration and market sentiment.
Signals & dispatch
Composite-score breakdown
Synthesis
Accuray Inc (ARAY.O) is a healthcare services and equipment company specializing in advanced medical equipment and technology. The firm operates within the Advanced Medical Equipment & Technology industry, primarily generating revenue through product sales. Accuray is headquartered in the United States and is listed on the NASDAQ stock exchange. Specific details regarding operating segments and geographic revenue mix are not available.
Accuray Inc has a market capitalization of $33.83 million and a price-to-book ratio of 0.42, indicating a significant discount to its book value. The company's liquidity position is characterized by $57.42 million in cash and equivalents, but this is offset by $136.52 million in long-term debt, resulting in a debt-to-equity ratio of 1.68. The current ratio of 1.65 suggests the company has sufficient short-term assets to cover its short-term liabilities, but the overall capital structure is heavily leveraged.
Profitability metrics show a mixed picture. The company reported a net loss of $1.59 million and an operating income of $9.31 million, translating to a return on equity of -1.96% and a return on assets of -0.34%. These figures are below the industry median for return on equity and return on assets, which are typically positive for firms in the healthcare equipment sector. The gross profit margin of 32.06% is relatively strong, but the net loss indicates inefficiencies in operating expenses or other cost structures.
Geographically, Accuray's revenue is not disclosed by region, but the company's primary market is the United States, with a significant presence in international markets. The lack of detailed geographic breakdown limits the ability to assess regional risk exposure. The company's revenue concentration is not explicitly stated, but the absence of segment-specific data suggests a relatively undiversified business model.
Looking ahead, the company's growth trajectory is uncertain. The current fiscal year is expected to show a modest increase in revenue, but the next fiscal year's outlook is not provided. The company's operating cash flow of $2.86 million and free cash flow of $287,000 are positive signs, but they are insufficient to cover the net loss. The capital expenditure of -$4.27 million indicates a reduction in investment, which may signal a strategic shift or financial constraints.
Risk factors include a medium liquidity risk due to the company's high debt levels and a net cash position that is negative after subtracting total debt. The dilution risk is assessed as low, but the company's financial leverage and net loss could impact its ability to raise additional capital without diluting existing shareholders. The risk assessment also highlights the need for careful monitoring of the company's debt management and cash flow generation.
Recent events include analyst estimates that suggest a mean price target of $2.52, with a median price target of $2.52 and a strong buy recommendation from two analysts. These estimates indicate a positive sentiment among analysts, but the company's current financial performance does not fully support such optimism. The lack of recent filings or transcripts limits the ability to assess the company's strategic direction and operational performance in detail.
Accuray Incorporated (ARAY.O) has entered the monitoring scope for the first time, establishing a baseline for future analysis with no prior data available for delta computation. This initial snapshot reveals a shareholder base comprising 24 top holders, providing a foundational view of the company's ownership structure as it begins to be tracked in this financial context. The most material development in this initial report is the detection of multiple notable additions to the shareholder registry, all dated as of March 31, 2026. These changes were detected on June 20, 2026, and include new positions from several investors, indicating fresh capital allocation or portfolio adjustments by these entities during the first quarter of 2026. Specifically, the data highlights new holdings from investors identified by IDs 478, 481, 486, 487, 499, 500, and 502. The largest of these new positions belongs to investor ID 499, who holds 1,401,766 shares valued at approximately $0.54 million, representing a weight of roughly 0.0097% in their portfolio. Other significant new entries include investor ID 500 with 861,635 shares and investor ID 502 with 717,045 shares, while smaller positions were established by investors ID 487, 486, 481, and 478. These new holdings contribute to the broader profile of Accuray, which currently has one officer and is followed by five analysts, though it holds no index memberships. The emergence of these new shareholders provides early insight into institutional or significant investor interest in the company, setting the stage for tracking future changes in ownership concentration and market sentiment.
- Accuray Inc is significantly undervalued relative to its book value, with a price-to-book ratio of 0.42.
- The company's capital structure is highly leveraged, with a debt-to-equity ratio of 1.68 and a current ratio of 1.65.
- Despite a strong gross profit margin, the company reported a net loss, indicating operational inefficiencies.
- Analysts have a positive outlook, with a mean price target of $2.52 and a strong buy recommendation from two analysts.
- The company's liquidity position is medium risk, and its net cash is negative after subtracting total debt.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
Valuation
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | -0,28 |
| Revenue | —no estimate | —no estimate | 443,2M USD |
| Operating income | —no estimate | —no estimate | -8,0M USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- SVP, Chief Commercial Officer · Restricted Stock Units → Common StockAcquired 650 000grant · 2026-05-29
- 10% owner · Warrant to Purchase Common Stock → Common StockAcquired 105 882 @ $1,50other · 2026-05-19
- 10% owner · Warrant to Purchase Common Stock → Common StockAcquired 75 630 @ $1,25other · 2026-05-19
- 10% owner · Warrant to Purchase Common Stock → Common StockAcquired 60 504 @ $0,01other · 2026-05-19
- 10% owner · Warrant to Purchase Common Stock → Common StockAcquired 1 010 028 @ $1,25other · 2026-05-19
- 10% owner · Warrant to Purchase Common Stock → Common StockAcquired 1 414 040 @ $1,50other · 2026-05-19
- 10% owner · Warrant to Purchase Common Stock → Common StockAcquired 808 023 @ $0,01other · 2026-05-19
- SVP, Chief Operations Officer · Restricted Stock Units → Common StockDisposed 83 723exercise · 2026-02-28
- Director · Restricted Stock Units → Common StockDisposed 9 433exercise · 2025-12-31
- SVP, Chief Commercial Officer · Restricted Stock Units → Common StockDisposed 50 314exercise · 2025-11-29
- SVP Chief Financial Officer · Restricted Stock Units → Common StockDisposed 44 025exercise · 2025-11-29
- Director, CEO · Restricted Stock Units → Common StockAcquired 1 064 814grant · 2025-11-28
- Director · Restricted Stock Units → Common StockAcquired 56 603grant · 2025-11-28
- Director · Restricted Stock Units → Common StockAcquired 56 603grant · 2025-11-28
- Director · Performance Stock Award → Common StockAcquired 1 250 000grant · 2025-11-28
- Director · Restricted Stock Units → Common StockAcquired 56 603grant · 2025-11-28
- Director · Restricted Stock Units → Common StockAcquired 56 603grant · 2025-11-28
- Director · Restricted Stock Units → Common StockAcquired 56 603grant · 2025-11-28
- Director · Restricted Stock Units → Common StockAcquired 56 603grant · 2025-11-28
- Director · Restricted Stock Units → Common StockAcquired 56 603grant · 2025-11-28
- Director · Restricted Stock Units → Common StockAcquired 56 603grant · 2025-11-28
- SVP Chief Financial Officer · Restricted Stock Units → Common StockAcquired 90 000grant · 2025-11-28
- SVP, Chief Commercial Officer · Restricted Stock Units → Common StockAcquired 110 000grant · 2025-11-28
- SVP, Chief Operations Officer · Restricted Stock Units → Common StockAcquired 125 000grant · 2025-11-28
- Director · Restricted Stock Units → Common StockDisposed 45 620exercise · 2025-11-21
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Ev To Operating Cash Flowenterprise_value / operating_cash_flow
- Return On Equitynet_income / total_equity
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Market Capmarket_price * shares_outstanding_diluted
- Accuray Inc Market data — financials · 2026-05-27
- Accuray Inc Market data — analyst estimates · 2026-05-27
- Accuray Inc Market data — ESG · 2026-05-27
Ownership & reference
Top holders
- Investment Managers · as of 2024-06-300,00 %$15M
- Investment Managers · as of 2024-12-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2025-12-310,00 %$5M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$1M
- Institutional Investor · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Funds · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
Leadership
- Suzanne C. WinterPresident, Chief Executive Officer
Insider activity
- SVP, Chief Commercial Officer · Common StockOther 40 000 @ $0,39$16K · 2026-03-31
- SVP, Chief Operations Officer · Common StockOther 28 969 @ $0,55$16K · 2026-02-28
- SVP, Chief Operations Officer · Common StockOther 83 723 · 2026-02-28
- Director · Common StockBought 54 875 @ $0,56$31K · 2026-02-20
- Director · Common StockBought 69 000 @ $0,53$37K · 2026-02-19
- Director · Common StockBought 126 125 @ $0,53$67K · 2026-02-18
- Director · Common StockOther 9 433 · 2025-12-31
- Director · Common StockOther 3 774 @ $0,82$3K · 2025-12-31
- SVP, Chief Commercial Officer · Common StockOther 64 477 @ $1,02$66K · 2025-12-01
- SVP Chief Financial Officer · Common StockOther 57 341 @ $1,02$58K · 2025-12-01
- SVP Chief Financial Officer · Common StockOther 44 025 · 2025-11-29
- SVP, Chief Commercial Officer · Common StockOther 50 314 · 2025-11-29
- Director · Common StockOther 50 000 · 2025-11-28
- Director · Common StockOther 895 391 · 2025-11-28
- Director · Common StockOther 56 603 · 2025-11-21
- Director · Common StockOther 22 642 @ $1,05$24K · 2025-11-21
- Director · Common StockOther 56 603 · 2025-11-21
- Director · Common StockOther 56 603 · 2025-11-21
- Director · Common StockOther 45 620 · 2025-11-21
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Long-term debt (YoY) (2025-12-31 vs 2024-12-31): -22.6%Derived (calculated)
- Current ratio (FY 2025-12-31): 1.47xDerived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): -6.3%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): -8.3%Derived (calculated)
- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -34.0%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 11.5%Derived (calculated)
- Debt-to-equity (FY 2025-12-31): 7.39xDerived (calculated)
- Long-term debt (annual): USD 135.89MSEC XBRL filing
- Total assets (annual): USD 448.01MSEC XBRL filing
- Current liabilities (annual): USD 199.44MSEC XBRL filing
- Shares outstanding (annual): 118.79MSEC XBRL filing
- Current assets (annual): USD 292.39MSEC XBRL filing
- Shareholders' equity (annual): USD 53.42MSEC XBRL filing
- Total liabilities (annual): USD 394.59MSEC XBRL filing
- Cash & equivalents (annual): USD 41.3MSEC XBRL filing
- Capex (YoY) (2025-06-30 vs 2024-06-30): 18.6%Derived (calculated)
- Revenue (YoY) (2025-06-30 vs 2024-06-30): 2.7%Derived (calculated)
- R&D expense (YoY) (2025-06-30 vs 2024-06-30): -3.6%Derived (calculated)
- Operating income (YoY) (2025-06-30 vs 2024-06-30): 1,455.4%Derived (calculated)
- Operating cash flow (YoY) (2025-06-30 vs 2024-06-30): 124.0%Derived (calculated)
- Net income (YoY) (2025-06-30 vs 2024-06-30): 89.8%Derived (calculated)
- Net margin (FY 2025-06-30): -0.3%Derived (calculated)
- Gross margin (FY 2025-06-30): 32.1%Derived (calculated)
- Gross profit (YoY) (2025-06-30 vs 2024-06-30): 2.8%Derived (calculated)