Accuray Incorporated
Severe listing-compliance risk
The share price is below $1 and the stored reverse-split/listing-risk level is HIGH. No verified reverse-split authorization or announced reverse split is currently recorded. This is a risk signal, not confirmation that Nasdaq has issued a deficiency notice.
ARAY · Price history
Price at last available close
$0.13
−$0.17 (-55.04%) 1M
2026-10-28
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Company & revenue
About Accuray Incorporated
Primary reporting period: 2026-06-30 · Research updated Oct 13, 2026. A research update is not a new financial filing.
Who they are
Accuray Incorporated specializes in the design, development, production, and sale of advanced radiosurgery and radiation therapy equipment aimed at treating tumors. Their market footprint spans across North and South America, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and the broader Asia Pacific region. Among their core offerings is the CyberKnife System, a sophisticated robotic platform for stereotactic radiosurgery and stereotactic body radiation therapy.
How they make money
Accuray generates revenue primarily through the sale of radiation therapy systems and the provision of long-term service contracts. The company also earns revenue from the sale of software, upgrades, and accessories, while maintaining a business model that relies on recurring service revenue and the installation of capital equipment in hospitals and cancer centers.
Products & services
Accuray designs, develops, and sells radiation therapy systems including the CyberKnife, Radixact, and TomoTherapy platforms, alongside associated treatment planning software and maintenance services.
Brands & revenue mix
Radiosurgery system for precise radiation delivery.
Separate brand revenue is not available in this research.Source
Helical radiation therapy system.
Separate brand revenue is not available in this research.Source
Integrated radiation therapy platform.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
Geographic revenue
Period ended 2026-06-30Source
Period ended 2026-06-30Source
Period ended 2026-06-30Source
Period ended 2026-06-30Source
Period ended 2026-06-30Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Customer concentration
As of June 30, 2026, the company does not report any single customer accounting for more than 10% of its total consolidated revenue.
Suppliers, materials & equipment
- Contract Manufacturers — The company relies on various third-party contract manufacturers for the production of components and sub-assemblies for its radiation therapy systems.Source
Competitors
Strengths
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
10
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
11
Poor
Financial Strength
26
Business Quality / Moat
0
Management
0
Growth Quality
22
Risk / Durability
4
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
20
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
27/100
Building Historical Record
Model Score 27/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
Reverse-split / listing-compliance risk: HIGH
This is a risk signal, not a prediction. It is separate from Wall Street Score and does not change the company score. It looks for listing-pressure signals such as prolonged Nasdaq trading below $1, very low share price, micro-cap size, negative free cash flow, and verified recent reverse splits.
Risk indicator: 60/100
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
No strong positive signal is being highlighted from the currently available summary data.
- •Share split detected
- •MAJOR RED FLAG: Reverse split proposed / authorized
- •CRITICAL: Bankruptcy / liquidation risk
- •Debt service risk
- •Valuation is a weaker part of the current profile
Company-specific research
Questions worth answering for ARAY
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can ARAY maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •How long can ARAY fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Is ARAY's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What specifically needs to improve for ARAY to reach sustainable profitability?
- •What future growth or profitability would be needed to justify ARAY's current valuation?
Essential Investment Snapshot
Wall Street Score
10
Opportunity Score
20
Market Cap
$16.0M
P/E Ratio
-0.7
EPS
$-0.40
52-Week High
$2.10
52-Week Low
$0.22
Beta
1.39
Analyst Target
$2.00
Shares Outstanding
122.6M
Total Revenue
$401.9M
Total Debt
$183.9M
Dividend
No current dividend
Liquidation Value / Share
$0.34
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
High movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for ARAY
Detected from reported data — verify before acting.Share split detected
A recent SEC filing references a reverse stock split/share consolidation. Repeated reverse splits receive progressively harsher score ceilings.
Supporting sourceMAJOR RED FLAG: Reverse split proposed / authorized
A recent SEC filing discusses authorization, approval, or a proposal for a reverse stock split. This is treated as a major distress/listing-risk signal and caps Wall Street Score below 30 while pending.
Supporting filingCRITICAL: Bankruptcy / liquidation risk
A recent SEC filing contains bankruptcy/liquidation language. Wall Street Score is capped at 10.
Supporting filingDebt service risk
Interest coverage is low (~-0.7x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total callsNo personal call yet on ARAY.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Differentiated radiation therapy technology portfolio.
- +Established global installed base of systems.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Medical - Devices industry.
- −Dependence on a limited number of suppliers for critical components.
- −Intense competition in the radiation oncology market.
- −A recent SEC filing references a reverse stock split/share consolidation. Repeated reverse splits receive progressively harsher score ceilings.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
6 historical score records availablePrevious Score
17
Sep 8, 2026
Change
Unchanged
Current Score
17
Oct 1, 2026
Category Changes
ARAY score was unchanged.
Projected Score
Projected Score
12
Projected Change
-4.6 points
Preliminary comparable-period financial changes suggest decline of approximately 4.6 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$0.13
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $401.9M | $401.9M | $458.5M | $446.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $290.5M | $290.5M | $311.5M | $303.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $111.5M | $111.5M | $147.0M | $142.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $37.8M | $37.8M | $47.9M | $49.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $84.0M | $84.0M | $91.2M | $92.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $137.9M | $137.9M | $139.1M | $142.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | -$14.3M | -$14.3M | $20.2M | $5.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | -$26.4M | -$26.4M | $7.8M | $504K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $35.3M | $35.3M | $13.0M | $11.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | -$47.2M | -$47.2M | $1.1M | -$11.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $1.9M | $1.9M | $2.7M | $3.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | -$49.2M | -$49.2M | -$1.6M | -$15.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $-0.40 | $-0.40 | $-0.02 | $-0.16 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 123M | 123M | 103M | 98.27M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 123M | 123M | 103M | 98.27M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$100.9M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.02
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+4.3%
Cash Change
-29.2%
Margin Change
-2.8 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Weakened
- Margins contracted
- Cash position declined
- Debt increased
Potential Score Impact
Pressure indicators included revenue growth, EPS growth, cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 20.9%. EPS declined 249.5%. Cash declined 29.2%. Total debt increased 4.3%. Net income margin declined by 2.8 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
6 historical recordsHistorical Score Chart
3 of 6 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Medical - DevicesNews
Accuray and Samsung NeuroLogica Advance Volumetric Imaging Collaboration for the Accuray CyberKnife® Platform
Accuray and Samsung NeuroLogica Advance Volumetric Imaging Collaboration for the Accuray CyberKnife® Platform
Accuray and RaySearch Agree to Collaboration Integrating RayStation Software with Accuray Platforms to Accelerate Accuray's Online Adaptive Capabilities
Accuray and RaySearch Agree to Collaboration Integrating RayStation Software with Accuray Platforms to Accelerate Accuray's Online Adaptive Capabilities
Rumor Mill · ARAY
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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