ACCURAY INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ACCURAY INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	383	405	419	383	396	430	448	447	459	402
Cost of revenue	242	243	256	233	237	270	294	304	312	290
Gross profit	141	162	163	150	160	160	154	143	147	111
Research and development	49.9	57.3	56.5	49.8	52.7	57.8	57.1	49.7	47.9	37.8
Selling and marketing	57.5	60.1	56	47.3	42.8	49.7	46.2	42.6	43.3	38.6
General and administrative	43.8	48.1	49.6	40.1	41.7	44.4	48.3	50.1	47.9	45.4
Operating expenses	151	165	162	137	137	152	152	142	139	138
Operating income	-9.82	-3.8	0.58	12.5	22.2	8.15	2.38	0.5	7.84	-26.4
Interest expense	17.3	15	15.1	18.1	16.9	8.13	10.6	11.6	13	32.9
Interest income								1.23	1.19	0.82
Other non-operating income	-18.7	-19.2	-14.9	-6.7	-27.7	-2.26	-1.11	-2.54	0.56	5.01
Pre-tax income	-28.5	-23	-14.3	5.69	-4.56	-2	-6.79	-11.8	1.13	-47.2
Income tax	1.04	0.88	2.09	1.86	1.75	3.35	2.49	3.73	2.73	1.95
Net income	-29.6	-23.9	-16.4	3.83	-6.31	-5.35	-9.28	-15.5	-1.59	-49.2
EBITDA	8.22	5.94	11.1	20.1	28.6	13.7	6.91	6.41	14	-18.5
EPS, basic	-0.36	-0.28	-0.19	0.04	-0.07	-0.06	-0.10	-0.16	-0.02	-0.40
EPS, diluted	-0.36	-0.28	-0.19	0.04	-0.07	-0.06	-0.10	-0.16	-0.02	-0.40
Shares, basic (weighted)	82.5	84.9	87.5	89.9	92	92.1	94.9	98.3	103	123
Shares, diluted (weighted)	82.5	84.9	87.5	90.6	92	92.1	94.9	98.3	103	123

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	72.1	83.1	76.8	108	116	88.7	89.4	68.6	57.4	40.6
Short-term investments	23.9
Receivables	72.8	66	112	90.6	85.4	94.4	74.8	92	83.2	67.4
Inventory	105	109	121	134	126	142	145	138	141	147
Other current assets	19	15.6	24.2	21.2	21.5	3.57	1.68	3.97	2.2	1.08
Total current assets	309	284	344	357	353	351	338	323	317	288
Property, plant and equipment	23.1	23.7	17.1	15.3	12.3	12.7	20.9	24.8	28.7	27.3
Lease right-of-use assets			30.6	28.6	22.5	16.8	25.9	33.8	33.1	27.5
Goodwill	57.8	57.9	57.7	57.7	58	57.8	57.7	57.7	57.8	57.9
Intangible assets	0.96	0.82	0.68	0.66	0.44	0.25	0.21	0.06	0.02	0
Other non-current assets	15.1	11.6	17.4	15.8	16.9	19.3	20.1	18	24.4	30.6
Total assets	406	379	438	491	480	473	479	469	470	444
Accounts payable	17.5	19.7	29.6	23.1	19.5	31.3	33.7	50	34	40.6
Accrued liabilities	25.4	29	31.2	18	26.9	29.4	23.8	17.1	14.6	15.7
Deferred revenue	87.8	75.4	78.3	83.2	81.7	75.4	72.2	71.6	82.3	82.8
Short-term debt	113				3.79	8.56	5.72	7.76	12.7	1.5
Total current liabilities	284	169	192	182	192	209	199	195	193	191
Long-term debt	51.5	131	160	189	170	172	172	164	124	146
Lease liabilities				24.2	17.4	10.5	23.6	32.4	32.5	27.8
Other non-current liabilities	10.1	8.61	9.65	7.42	7.77	3.75	4.68	7.39	5.16	5.48
Total liabilities	360	330	388	427	411	420	426	424	389	402
Total debt	165	131	160	189	174	180	177	172	137	148
Paid-in capital	497	522	535	546	555	543	555	567	602	614
Retained earnings	-450	-474	-486	-482	-488	-493	-502	-518	-519	-568
Treasury stock								-14.1	-14.1
Other comprehensive income	-0.05	1.09	-0.01	-0.48	2.09	2.41	0.42	-4.22	-1.84	-3.51
Shareholders' equity	46.5	48.6	49.9	63.6	68.8	53.2	53.7	45.1	81.2	41.7
Total equity	46.5	48.6	49.9	63.6	68.8	53.2	53.7	45.1	81.2	41.7
Total liabilities and equity	406	379	438	491	480	473	479	469	470	444
Shares outstanding	83.7	86.1	88.5	91.2	90.8	93.5	96.5	100	113	119

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-29.6	-23.9	-16.4	3.83	-6.31	-5.35	-9.28	-15.5	-1.59	-49.2
Depreciation and amortization	18	9.73	10.5	7.54	6.39	5.51	4.53	5.91	6.15	7.94
Stock-based compensation	13.6	12.3	10.6	8.15	9.33	10.6	10.1	9.48	10.2	6.46
Deferred income tax	-0.27	0.03	-0.09	0.35	-0.11	1.79	0.46	1.4	0.16	0.63
Change in receivables	-15.7	7.22	-46.2	19	5.24	-12.5	18.5	-15.8	13.4	11.5
Change in inventory	7.68	-8.69	-14.2	-23.2	1.69	-22.9	-6.86	-4	-9.11	-12.5
Change in payables	2.19	2	9.46	-6.77	-3.98	11.7	2.85	17.4	-18.7	5.17
Cash from operations	-0.38	18.3	-29.6	-1.47	38.5	-2.4	15.5	-11.9	2.86	-6.98
Capital expenditures	-5.03	-6.28	-4.31	-3.56	-2.32	-4.72	-12.6	-3.6	-4.27	-5.86
Purchases of investments	-15	-5.94
Sales and maturities of investments	38.2	30.3
Cash from investing	17.8	17.8	-4.31	-3.73	-2.4	-4.72	-12.7	-3.6	-8.52	-12.3
Debt issued					80	0	0	0	150
Debt repaid	-105	-69.8		0	-116	0	0
Stock issued				0	3.03	3.89	2.2	2.25	1.63	0.67
Share buybacks				0	-14.1	0	0
Cash from financing	-54.5	-27.5	28.5	26.7	-28.8	-15.4	-2.11	-3.95	-4.25	6.98
Exchange rate effect	0.2	-0.35	0.12	0.23	0.98	-5.56	0.3	-1.35	1.66
Net change in cash	-36.9	8.3	-5.36	21.7	8.29	-28	1.05	-20.8	-8.26	-13.4
Free cash flow	-5.41	12.1	-34	-5.03	36.2	-7.12	2.93	-15.5	-1.41	-12.8
Interest paid	9.93	9.19	9.76	12.3	11.9	7.46	9.85	10.5	9.74	13.9
Income taxes paid	4.46	1.46	2.19	2.81	1.87	1.4	2.15	1.75	3.87	2.32

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $0.22 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	27.7%	Gross profit / revenue.
Operating margin	-6.6%	Operating income / revenue.
EBITDA margin	-4.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-11.8%	Pre-tax income / revenue.
Net margin	-12.2%	Net income / revenue.
FCF margin	-3.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-1.7%	Cash from operations / revenue.
Return on equity (ROE)	-80.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-10.8%	Net income / average total assets.
Return on invested capital (ROIC)	-13.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	9.4%	Research and development expense / revenue.
Stock-based pay / revenue	1.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.5%	Capital expenditures / revenue.
D&A / revenue	2.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-12.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-24.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-10.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-6.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-437.3%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-232.2%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-344.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-48.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-8.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-9.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-5.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-1.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	19.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	8.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	5.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.50x	Current assets / current liabilities.
Quick ratio	0.56x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.21x	(Cash + short-term investments) / current liabilities.
Debt / equity	3.55x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	33.3%	Total debt / total assets.
Liabilities / assets	90.6%	Total liabilities / total assets.
Net debt	$107.2M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-0.80x	Operating income / interest expense.
Working capital	$96.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	13.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$16.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.88x	Revenue / average total assets.
Fixed asset turnover	14.4x	Revenue / average property, plant and equipment.
Inventory turnover	2.02x	Cost of revenue / average inventory.
Days inventory	181 days	365 x average inventory / cost of revenue.
Receivables turnover	5.34x	Revenue / average receivables.
Days sales outstanding	68 days	365 x average receivables / revenue.
Days payables	47 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	203 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.40	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$0.40	Net income per basic share, as reported (split-adjusted).
Revenue per share	$3.28	Revenue / diluted weighted shares.
FCF per share	-$0.10	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.06	Cash from operations / diluted weighted shares.
Book value per share	$0.35	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.14	Tangible book value / shares outstanding.
Cash per share	$0.34	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$25.7M	Share price x shares outstanding.
Enterprise value	$132.9M	Market cap + total debt - cash - short-term investments.
P/S	0.06x	Market cap / revenue.
P/B	0.62x	Market cap / shareholders' equity. Only when equity is positive.
EV/Sales	0.33x	Enterprise value / revenue.
FCF yield	-50.0%	Free cash flow / market cap.
Earnings yield	-191.6%	Net income / market cap (the inverse of P/E).

What was ACCURAY INC's revenue in fiscal 2026?

ACCURAY INC reported revenue of $401.9M for fiscal 2026, 12.3% lower than the year before.

Was ACCURAY INC profitable in fiscal 2026?

No. It reported a net loss of $49.2M.

How much free cash flow did ACCURAY INC generate in fiscal 2026?

Cash from operations of $7.0M minus capital expenditures of $5.9M left free cash flow of -$12.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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