Earnings ·
Accuray reports $86.5M Q1 revenue, $59.6M debt extinguishment gain
ARAYAccuray Inc
Accuray reported fiscal 2027 first-quarter net revenue of $86.5 million, a decrease of 8 percent from the prior year, driven by a 26 percent drop in product sales to $27.3 million, partially offset by a 4 percent increase in service revenue to $59.2 million. The company recognized a non-cash gain on extinguishment of debt of approximately $59.6 million related to its July financing transaction with TCW, resulting in GAAP net income of $10.1 million or $0.07 per diluted share. Excluding the debt gain and a $35.4 million goodwill impairment charge, Accuray reported a net loss of $14.0 million. Stockholders recently approved proposals to exchange $40 million in term loan debt for convertible preferred equity to reduce leverage. The company operates in the medical technology industry, specializing in precision radiation therapy systems and services.