Short answer
ACCURAY INC (ARAY) filed its fiscal 2025 10-K annual report with the SEC on Aug 28, 2025. It reported revenue of $459M (+2.7% year over year) and net income of −$2M.
- Top risk flagged: Regulatory risk from FDA and other clearances, critical for product sales and R&D costs impacting future capital needs
FY2025 key financial metrics · XBRL
- Revenue
- $459M
- +2.7% YoY
- Net income
- −$2M
- +89.8% YoY
- Operating margin
- 1.7%
- +1.6 pp YoY
- Gross margin
- 32.1%
- +0.0 pp YoY
- EPS (diluted)
- −$0.02
- +87.5% YoY
- ROE
- -2.0%
- +32.5 pp YoY
- Operating cash flow
- $3M
- +124.0% YoY
Source: XBRL data from the ACCURAY INC (ARAY) FY2025 10-K on SEC EDGAR. USD.
ACCURAY INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Development and sale of advanced radiation therapy systems including CyberKnife robotic radiosurgery and TomoTherapy helical radiation platforms
- New product emphasis: Introduction of Accuray Helix CT-guided helical radiotherapy system combining affordability and automation to expand radiation access
- Strategic shift: Expanded international sales focus with new direct offices and distributors plus key collaborations including 2024 AI radiotherapy system performance prediction with Airbus
- Quantitative highlight: CyberKnife S7 System enables treatment plans up to 90% faster and treatments up to 50% faster, enhancing clinical efficiency
- Noteworthy fact: 2025 filing highlights novel AI-driven real-time tumor tracking tech (Synchrony) integrated with motion-adaptive treatment delivery as a market differentiator
Management Discussion & Analysis
- Revenue impact negative from U.S. reduced budgets and longer installations, continuing through FY2026, no specific revenue $ reported
- Gross margin and net income adversely affected by inflation, supply chain, freight costs; impact expected through at least calendar year 2025, no margin % given
- Approximately 70% raw materials U.S.-sourced; 80%+ products exported; tariff uncertainties may reduce sales to China through H1 FY2026
- No fiscal 2025 bonuses paid to comply with debt covenants and conserve cash amid uncertain macroeconomic environment
- Management monitoring liquidity, customer and supplier actions, evaluating operating expenses and real estate usage for cost control
Risk Factors
- Regulatory risk from FDA and other clearances, critical for product sales and R&D costs impacting future capital needs
- Macroeconomic exposure to China anti-corruption campaign and stimulus timing, affecting operations and liquidity forecasts
- Supply chain cost inflation raised inventory costs by $9.1 million, pressuring gross margins through 2025
- Convertible Notes refinancing risk with $18 million principal still due June 2026, backed by $20 million delayed draw facility
- Competitive threat from evolving technologies impacting the demand forecast assumptions used in inventory valuation and reserves
Generated from the filing text; verify against the original. How to read a 10-K
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