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Accuray Inc (ARAY) stock

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NASDAQ: ARAY Nasdaq Health Care Equipment Next results ~November 4, 2026

D Fundamentals grade

Accuray Inc is a US-listed company in the health care equipment industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Accuray Inc is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

Accuray Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 0 selling4 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds60 adding, 67 cuttingOf 24 active managers that changed their stake, 12 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Accuray files

Where Accuray stands after its latest 10-K

Revenue for the twelve months to June 2026 was $402m, down 12.3% on a year earlier, a steeper fall than the 7.9% decline a quarter earlier. That puts it 56 of 58 for growth among the health care equipment companies we cover. Free-cash-flow margin fell to -3.2% from -0.3% a year earlier. Operating margin narrowed to -6.6% from 1.7%. The diluted share count is up 4.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 7 financial-health checks.

Our model value for Accuray is under review, so past values are not shown until it is resolved.

Source: 10-K filed August 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Accuray Inc's trailing-twelve-month revenue fell 12.3% year on year, with a free-cash-flow margin of -3.2%. Where it lags: revenue growth of -12.3% ranks 116 of 129 health care equipment companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 809.5% while net income fell 2992.0%: a 2183pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Accuray Inc's latest figures clears our strength thresholds.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 12.3% over the last 12 months.
  • Loss-making. Operating margin is -6.6%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 8.3 points on a year ago.
  • Burning cash. Free cash flow was -3.2% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 4.9% in a year.

Latest results: FY2026 Q4

Filed August 27, 2026
Revenue
$101m, down 20.9% on a year earlier
Share reaction
-9.4% in the first session after the results on August 19, 2026, against -0.6% for the S&P 500
Next report
November 4, 2026

Accuray's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+7.1%
  • 1 week+25.0%
  • 1 month-46.4%
  • This year-81.7%
  • 1 year-89.4%
  • 5 years-97.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$402M
Operating margin
-6.6%
Net margin
-12.2%
EPS (TTM, diluted)
$-0.48

Growth

Revenue growth
−12.3%
Change in growth rate
−4.5 pts
Share count change
+4.9%

Cash

Free cash flow (TTM)
-$12.8M
FCF margin
-3.2%
Stock pay % of revenue
1.6%

Earnings

Last results
August 19, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Leadership
  3. Leadership
  4. Results
  5. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Accuray Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Accuray Inc as an operating company, with every model that fits that kind of business. Cost of equity 11%: the 10-year Treasury yield (4.9%) plus a beta of 1.36 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$4.0 ~$3.9–$17 Left out: out of range vs price (26.53x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Accuray Inc with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$5.19$4.75$4.10$3.87$2.03$4.52$1.96$3.87$1.82$1.37$0.26
Market value$418m$392m$348m$338m$184m$416m$181m$367m$179m$141m$32m
+ Net debt (− = net cash)$100m$94m$66m$99m$95m$86m$100m$94m$111m$111m$141m
Enterprise value$518m$486m$414m$438m$278m$502m$281m$461m$290m$252m$173m
Multiples
Price / sales 1.0x1.0x0.9x0.8x0.5x1.0x0.4x0.8x0.4x0.3x0.1x
Price / earnings ————48.1x——————
Price / free cash flow 18.3x—28.9x——11.5x—125.5x———
EV / EBITDA 38.6x59.2x69.7x39.6x13.9x17.6x20.6x66.7x45.3x18.0x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

26 /100

Weak moat

How hard Accuray's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -2.6% of total assets over 10 years.

  • Pricing power 11 / 20

    Gross margin has been a median 37.0%, moving by 4.0 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 0.3%; its worst year was -6.6%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 3 of 10 years, at a median -1.4% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 13.5% over five years; stock-based pay has been a median 2.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close.

Analysts' consensus

No analyst estimates are published for Accuray Inc: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Mar 2026 −$0.05 −$0.07 −35.6%
Dec 2025 −$0.11 −$0.11 +2.2%
Sept 2025 −$0.05 −$0.14 −178.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 19, 2026

No numeric guidance in Accuray Inc's latest earnings release (filed August 19, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

1 analysts, Oct 2026
Buy00%
Hold1100%
Sell00%

Monthly trend

  1. Oct 202611

Counts of recommendations published by analysts covering Accuray Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.8%
of tradable shares
Days to cover
0.27
at average volume
Short interest, 1 month
+2%
to October 15, 2026
Held by institutions
65%
of shares
Held by insiders
4.4%
of shares
Employees
809
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −89.4%

$1.41 on October 31, 2025 to $0.15

ThenNowEffect
Revenue (last 12 months) $459m $402m −12.3%
P/S multiple 0.3x 0.0x −86.1%
Share count 102m 117m −13.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −94.6%

$2.80 on November 3, 2023 to $0.15

ThenNowEffect
Revenue (last 12 months) $448m $402m −10.2%
P/S multiple 0.6x 0.0x −92.7%
Share count 95m 117m −18.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ARAY+14%−56%+35%−30%−59%−82%
Industry peers (median)−9%−37%−9%−19%−16%−13%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ARAY33%33%67%42%25%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ARAY−41%−63%−43%−52%−70%−87%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 98% from November 10, 2015 to October 26, 2026. Getting back needed a 6117% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.12 – $1.45
From 52-week high
−89.7%
vs 50-day average
−32.2%
vs 200-day average
−58.9%
Volatility (1 year)
116%
Beta vs S&P 500
2.57

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±17.3%
After a week
2 up, 10 down
typical move ±19.8%
After a month
3 up, 9 down
typical move ±22.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 19, 2026 −9.4% −0.6% −18.8% −28.1%
May 6, 2026 −37.0% +1.1% −34.8% −26.1%
February 4, 2026 −20.0% −1.7% −32.0% −34.7%
November 5, 2025 −11.6% −0.7% −14.5% −28.3%
October 20, 2025 −4.7% +1.0% −8.3% −42.6%
August 13, 2025 −1.4% +0.4% +2.0% +6.1%
April 30, 2025 −16.7% +0.7% −16.0% −5.6%
February 5, 2025 +15.5% +0.8% −4.3% −20.2%
November 6, 2024 +8.9% +3.3% −5.7% +4.7%
August 14, 2024 +49.7% +2.0% +71.7% +51.0%
May 1, 2024 −27.7% +0.6% −21.6% −16.9%
January 31, 2024 −5.2% −0.3% −8.5% −3.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Accuray Inc in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Accuray Inc
$400M $420M $440M $460M $480M FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $455M Revenue (TTM), FY24 Q2: $447.5M Revenue (TTM), FY24 Q3: $430.6M Revenue (TTM), FY24 Q4: $446.6M Revenue (TTM), FY25 Q1: $444.2M Revenue (TTM), FY25 Q2: $453.1M Revenue (TTM), FY25 Q3: $465.3M Revenue (TTM), FY25 Q4: $458.5M Revenue (TTM), FY26 Q1: $450.9M Revenue (TTM), FY26 Q2: $437M Revenue (TTM), FY26 Q3: $428.6M Revenue (TTM), FY26 Q4: $401.9M $401.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $455M
FY24 Q2 $447.5M
FY24 Q3 $430.6M
FY24 Q4 $446.6M
FY25 Q1 $444.2M
FY25 Q2 $453.1M
FY25 Q3 $465.3M
FY25 Q4 $458.5M
FY26 Q1 $450.9M
FY26 Q2 $437M
FY26 Q3 $428.6M
FY26 Q4 $401.9M
Revenue growth, TTM YoY Accuray Inc
-20% -10% 0% 10% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 8.6% Revenue growth, TTM YoY, FY24 Q2: 7.2% Revenue growth, TTM YoY, FY24 Q3: -2.0% Revenue growth, TTM YoY, FY24 Q4: -0.2% Revenue growth, TTM YoY, FY25 Q1: -2.4% Revenue growth, TTM YoY, FY25 Q2: 1.3% Revenue growth, TTM YoY, FY25 Q3: 8.1% Revenue growth, TTM YoY, FY25 Q4: 2.7% Revenue growth, TTM YoY, FY26 Q1: 1.5% Revenue growth, TTM YoY, FY26 Q2: -3.6% Revenue growth, TTM YoY, FY26 Q3: -7.9% Revenue growth, TTM YoY, FY26 Q4: -12.3% -12.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 8.6%
FY24 Q2 7.2%
FY24 Q3 -2.0%
FY24 Q4 -0.2%
FY25 Q1 -2.4%
FY25 Q2 1.3%
FY25 Q3 8.1%
FY25 Q4 2.7%
FY26 Q1 1.5%
FY26 Q2 -3.6%
FY26 Q3 -7.9%
FY26 Q4 -12.3%
Operating margin (TTM) Accuray Inc
-10% -5% 0% 5% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 1.5% Operating margin (TTM), FY24 Q2: 0.0% Operating margin (TTM), FY24 Q3: -1.6% Operating margin (TTM), FY24 Q4: 0.1% Operating margin (TTM), FY25 Q1: -0.9% Operating margin (TTM), FY25 Q2: 1.1% Operating margin (TTM), FY25 Q3: 2.2% Operating margin (TTM), FY25 Q4: 1.7% Operating margin (TTM), FY26 Q1: -0.3% Operating margin (TTM), FY26 Q2: -4.0% Operating margin (TTM), FY26 Q3: -6.5% Operating margin (TTM), FY26 Q4: -6.6% -6.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 1.5%
FY24 Q2 0.0%
FY24 Q3 -1.6%
FY24 Q4 0.1%
FY25 Q1 -0.9%
FY25 Q2 1.1%
FY25 Q3 2.2%
FY25 Q4 1.7%
FY26 Q1 -0.3%
FY26 Q2 -4.0%
FY26 Q3 -6.5%
FY26 Q4 -6.6%
FCF margin (TTM) Accuray Inc
-10% -5% 0% 5% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: -1.2% FCF margin (TTM), FY24 Q2: 1.7% FCF margin (TTM), FY24 Q3: -5.6% FCF margin (TTM), FY24 Q4: -3.5% FCF margin (TTM), FY25 Q1: -3.2% FCF margin (TTM), FY25 Q2: -1.5% FCF margin (TTM), FY25 Q3: 4.1% FCF margin (TTM), FY25 Q4: -0.3% FCF margin (TTM), FY26 Q1: 3.8% FCF margin (TTM), FY26 Q2: -0.6% FCF margin (TTM), FY26 Q3: -6.0% FCF margin (TTM), FY26 Q4: -3.2% -3.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 -1.2%
FY24 Q2 1.7%
FY24 Q3 -5.6%
FY24 Q4 -3.5%
FY25 Q1 -3.2%
FY25 Q2 -1.5%
FY25 Q3 4.1%
FY25 Q4 -0.3%
FY26 Q1 3.8%
FY26 Q2 -0.6%
FY26 Q3 -6.0%
FY26 Q4 -3.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 222 222 409 316 369 380 399 383 405 419 383 396 430 448 447 459 402
Gross profit 104 107 137 98 143 145 159 141 162 163 150 160 160 154 143 147 111
EBITDA 10 −20 −24 −55 2 0 13 8 6 11 20 29 14 7 6 14 −19
Operating income 3 −28 −56 −81 −18 −19 −5 −10 −4 1 13 22 8 2 1 8 −26
Net income 3 −27 −72 −103 −35 −40 −26 −30 −24 −16 4 −6 −5 −9 −16 −2 −49
Diluted EPS $0.05 −$0.44 −$1.02 −$1.41 −$0.47 −$0.51 −$0.32 −$0.36 −$0.28 −$0.19 $0.04 −$0.07 −$0.06 −$0.10 −$0.16 −$0.02 —
Growth (year on year)
Revenue — +0.3% +84.1% −22.8% +16.9% +2.8% +5.0% −3.9% +5.6% +3.4% −8.6% +3.5% +8.5% +4.1% −0.2% +2.7% −12.3%
EBITDA — −303.5% — — — — — −38.8% −27.8% — +81.3% +42.5% −52.3% −49.4% — — −232.2%
Operating income — — — — — — — — — — — +77.3% −63.4% — — — —
Margins
Gross margin 46.9% 48.2% 33.5% 30.9% 38.7% 38.3% 39.8% 36.9% 39.9% 38.8% 39.1% 40.3% 37.2% 34.4% 32.0% 32.1% 27.7%
EBITDA margin 4.5% −9.1% −5.8% −17.4% 0.7% 0.1% 3.4% 2.1% 1.5% 2.6% 5.2% 7.2% 3.2% 1.5% 1.4% 3.1% −4.6%
Operating margin 1.3% −12.5% −13.7% −25.5% −4.9% −5.0% −1.2% −2.6% −0.9% 0.1% 3.3% 5.6% 1.9% 0.5% 0.1% 1.7% −6.6%
Net margin 1.3% −12.0% −17.6% −32.7% −9.6% −10.6% −6.4% −7.7% −5.9% −3.9% 1.0% −1.6% −1.2% −2.1% −3.5% −0.3% −12.2%
Free-cash-flow margin −4.6% 3.8% −12.0% −25.7% −3.1% −6.5% 5.7% −1.4% 3.0% −8.1% −1.3% 9.1% −1.7% 0.7% −3.5% −0.3% −3.2%
Cash flow
Cash from operations −5 12 −38 −66 0 −14 31 −0 18 −30 −1 39 −2 16 −12 3 −7
Capital spending 5 4 11 15 12 10 8 5 6 4 4 2 5 13 4 4 6
Free cash flow −10 8 −49 −81 −12 −25 23 −5 12 −34 −5 36 −7 3 −16 −1 −13
Stock-based pay 10 13 8 8 11 14 13 14 12 11 8 9 11 10 9 10 6
Free cash flow after stock pay −20 −5 −58 −90 −23 −39 10 −19 −0 −45 −13 27 −18 −7 −25 −12 −19
Balance sheet
Cash 45 96 144 73 92 80 120 72 83 77 108 116 89 89 69 57 41
Total debt 0 0 79 199 215 215 220 167 149 176 202 203 189 183 180 169 182
Net debt (negative = net cash) −45 −96 −64 125 123 135 100 94 66 99 95 86 100 94 111 111 141
Diluted shares 60m 60m 71m 73m 76m 78m 81m 82m 85m 87m 91m 92m 92m 95m 98m 103m 123m
Returned to shareholders
Buybacks — — — — — — — — — — 0 14 0 0 — — —
Total returned — — — — — — — — — — 0 14 0 0 — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $444m
Short-term assets $288mLonger-term assets $156m
What it owes, and who funded it · $444m
Short-term liabilities $191mLonger-term liabilities $211mShareholders' equity $42m
  • Short-term assets cover short-term liabilities $288m of assets due within a year against $191m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $288m short-term assets against $211m of longer-dated liabilities.
  • More cash than debt $41m of cash against $148m of debt.
  • Debt below 40% of shareholders' equity Debt is 355% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 342% to 355% over five years.
  • A year's operating cash flow covers at least 20% of debt −$7m of operating cash flow against $148m of debt.
  • Operating profit covers interest at least five times over Operating income of −$26m against $33m of interest.

From Accuray Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+4.9%
year over year
R&D spending
9.4%
of revenue
Days sales outstanding
61 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated ARAY INMD TCMD INGN AORT STAA Median
Revenue, last 12 months $402m $370m $356m $354m $471m $340m $99m
Revenue growth, last 12 months −12.3% −6.2% 14.4% 3.2% 16.4% 51.3% 9.2%
Revenue growth, 3-year average −3.5% — 9.6% 0.5% 12.8% 9.2% 13.5%
Revenue growth, latest quarter −20.9% — 7.1% 3.0% 11.3% 111.0% 10.2%
Gross margin 27.6% 78.5% 77.0% 44.5% 64.4% 76.6% 61.2%
Operating margin −6.6% 23.0% 9.4% −8.7% 4.4% 4.0% −8.5%
Operating margin, 3-year average −1.6% 28.9% 8.1% −16.2% 5.9% −12.3% −17.9%
Net margin −12.2% 25.3% 6.7% −6.9% −0.7% 1.1% −12.0%
Cash from operations / revenue −1.7% 23.0% 9.0% −0.7% 8.8% −1.0% −1.9%
Free-cash-flow margin −3.2% 22.7% 8.1% −1.4% −1.9% −2.0% −3.9%
Free-cash-flow margin, 3-year average −2.3% 32.8% 11.6% −1.8% 0.7% −5.8% −7.0%
Stock pay / revenue 1.6% 3.0% 2.5% 2.1% 5.7% 8.3% 6.1%
Change in share count 4.9% −18.8% −1.7% 8.9% 21.0% 2.6% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth -12.3% 9.1% 116 of 129
Change in growth rate Growth -4.5pp -0.6pp 101 of 129
Gross margin Profitability 27.6% 61.9% 110 of 123
Operating margin Profitability -6.6% -8.3% 64 of 132
Net margin Profitability -12.2% -12.0% 68 of 133
Free-cash-flow margin Cash generation -3.2% -3.4% 62 of 128
Stock pay as % of revenue Cash generation 1.6% 6.1% 26 of 123
Long-term debt as % of assets Balance sheet 33.0% 24.2% 61 of 87
Change in share count Balance sheet 4.9% 3.3% 73 of 115
Days sales outstanding Balance sheet 61 days 57 days 71 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Products and services
Line of business Revenue Share YoY
Services $229M 57.0% ▲ 3.8%
Products $173M 43.0% ▼ 27.3%
Geography
Region Revenue Share YoY
Eimea $151M 37.5% ▲ 4.6%
Americas $90M 22.4% ▲ 1.3%
China $68.1M 17.0% ▼ 45.3%
Asia Pacific $48.7M 12.1% ▲ 2.7%
Japan $44.3M 11.0% ▼ 17.5%

From Accuray Inc's 10-K filed August 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$17.7M
Institutions reporting
109
Shares held vs prior quarter
▼ 5.4%
Positions opened / closed
25 / 39

Top buyers and sellers, Q2 2026: 60 institutions bought and 67 sold ; the biggest buyer was TCW Group Inc (+3.5M shares) and the biggest seller Blackrock, Inc (−5.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
TCW Group Inc $4.1M 18.9M 23.1% ▲ 22.5%
Neuberger Berman Group LLC $1.6M 6.1M 8.9% ▲ 3.7%
Armistice Capital, LLC $1.5M 5.7M 8.4% ▲ 1.8%
Weber Capital Management LLC $1.3M 4.9M 7.2% ▼ 2.4%
Vanguard Capital Management LLC $1.1M 4.4M 6.5% ▲ 0.2%
Blackrock, Inc. $842,023 3.3M 4.8% ▼ 61.4%
AQR Capital Management LLC $700,967 2.7M 4.0% ▲ 340.3%
Jane Street Group, LLC $551,620 2.1M 3.1% New
Renaissance Technologies LLC $532,430 2.1M 3.0% ▼ 9.9%
Dafna Capital Management LLC $433,235 1.7M 2.5% 0.0%
UBS Group AG $418,983 1.6M 2.4% ▲ 15.9%
Millennium Management LLC $409,682 1.6M 2.3% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Accuray Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $153,546 4 trades by 2 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $153,546 net buying
Insider Date Trade Shares Price Value
Mayer Steven F Director February 20, 2026 Buy 54,875 $0.56 $30,730
Mayer Steven F Director February 19, 2026 Buy 69,000 $0.53 $36,570
Mayer Steven F Director February 18, 2026 Buy 126,125 $0.53 $66,846
La Neve Stephen R. CEO November 19, 2025 Buy 20,000 $0.97 $19,400

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 19, 2026
  • May 6, 2026
  • February 4, 2026
  • November 5, 2025
  • October 20, 2025
  • August 13, 2025

Recent SEC filings

Data status

When each part of this page on Accuray Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Accuray Inc in brief

What does Accuray Inc do?
Accuray Inc is a US-listed company in the health care equipment industry. Its financial year ends in June.
What is Accuray Inc's stock ticker?
Accuray Inc trades under the ticker ARAY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Accuray Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Accuray Inc reported revenue of $402M, 12.3% lower than a year earlier, according to its SEC filings.
What is Accuray Inc's free cash flow?
Accuray Inc's free-cash-flow margin is -3.2% of revenue over the trailing twelve months, ranking 62 of the 128 health care equipment companies we cover.
Who are Accuray Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are TCW Group Inc, Neuberger Berman Group LLC and Armistice Capital, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Accuray Inc's market cap?
On June 30, 2026, Accuray Inc's market capitalisation was about $31.9M and net debt of $141M. Market figures come from third-party market data and may be delayed.
How much debt does Accuray Inc have?
Accuray Inc's debt-to-equity ratio is 354.6%, from its latest balance sheet (342.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Accuray Inc's competitors?
In our Health Care Equipment peer group, the companies closest to Accuray Inc are Inmode Ltd., Tactile Systems Technology Inc, Inogen Inc, Artivion, Inc. and Staar Surgical Co. The side-by-side comparison below sets their revenue, margins and growth against Accuray Inc's.
Are insiders buying or selling Accuray Inc stock?
Over the last 12 months, Accuray Inc's directors and officers reported 4 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Accuray Inc's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Accuray Inc announces its own schedule.