Accuray (NASDAQ: ARAY) reported Q3 EPS of $0.00, in-line with the analyst estimate of $0.00. Revenue for the quarter came in at $102.6 million versus the consensus estimate of $99.27 million.

Third Quarter Fiscal 2021 Summary

• Net revenue of $102.6 million including $24.9 million of system revenue in China
• Gross orders of $87.4 million, an increase of 16 percent from the second quarter of fiscal 2021
• GAAP operating income of $4.4 million, GAAP net loss of $0.4 million, and Adjusted EBITDA of $8.7 million
• Received Shonin regulatory approval in Japan for ClearRT™ Helical kVCT Imaging for the Radixact® System

"Our third quarter performance continues to reflect the positive momentum our business is making despite the headwinds created by the COVID-19 environment," said Josh Levine, President and CEO of Accuray. "Highlights from our third quarter performance include the continued ramp of China Type A system revenue, excellent progress in the phased introduction of ClearRT Helical kVCT Imaging platform for the Radixact System including regulatory approval in Japan and the continued adoption of our latest innovations like Synchrony real-time motion tracking and delivery adaptation on Radixact and our latest generation Cyberknife S7 system. Additionally, as announced yesterday, we are very excited to have Dr. Jean-Phillipe Pignol join us as Chief Medical and Technology Officer as we continue to build out our executive leadership team."

Financial Guidance

The impact of the COVID-19 pandemic on Accuray's fiscal 2021 results remains uncertain. Given the continued evolution of the COVID-19 pandemic and the uncertainty surrounding its impact on the global economy and the healthcare industry, Accuray believes it is prudent to refrain from providing financial guidance for fiscal year 2021.

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