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ARAY Nasdaq· Accuray Incorporated
Earnings report Q4 2023

Accuray Incorporated Reports Decline in Revenue for the Latest Quarter

Segments of revenue

Accuray Incorporated reported a total net revenue of $107.24 million for the latest quarter, compared to $114.76 million in the same quarter of the previous year. The revenue was generated from two segments: products and services. Revenue from products amounted to $51.54 million, a decrease from $63.27 million in the previous year's quarter. Revenue from services increased to $55.70 million, up from $51.49 million in the same quarter of the previous year.

Strengths

Despite the overall decline in revenue, Accuray Incorporated experienced an increase in revenue from services in their EIMEA region. This growth can be attributed to higher shipments of system units and indicates a positive trend in the company's service offerings. Additionally, revenue derived from sales outside of the Americas region increased, primarily driven by higher shipments of system units in China and EIMEA.

Challenges

Accuray Incorporated faced challenges in their Americas region, where revenue decreased due to a lower volume of shipments of system units. This decline in revenue from the Americas region impacted the overall revenue performance of the company.

Noteworthy

It is worth noting that revenue derived from sales outside of the Americas region increased, which partially offset the decline in revenue from the Americas. This indicates that Accuray Incorporated's international operations are contributing positively to their revenue growth.

Summary

Accuray Incorporated reported a decline in revenue for the latest quarter, with total net revenue amounting to $107.24 million. The decrease in revenue was primarily driven by a lower volume of shipments of system units in the Americas region. However, the company experienced growth in revenue from services in their EIMEA region and an increase in revenue from sales outside of the Americas region, particularly in China. These positive factors indicate potential opportunities for Accuray Incorporated to further expand their service offerings and international presence.

Source documents

Form 10-Q  filed on Feb 07, 2024
72 pages scanned

Reference data

Company financials Q4 revenue 107M
Analyst estimates Q4 EPS beat by 81.82%
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