ACCURAY INC
For the period ended Jun 30, 2024. Filed Sep 19, 2024.
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FY2024 · Filed Sep 19, 2024
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Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except per share amounts)
| Years Ended June 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Net revenue: | |||
| Products (a) | $234,164 | $233,192 | $214,715 |
| Services (b) | 212,387 | 214,413 | 215,194 |
| Total net revenue | 446,551 | 447,605 | 429,909 |
| Cost of revenue: | |||
| Cost of products | 161,061 | 153,627 | 127,287 |
| Cost of services | 142,569 | 140,018 | 142,667 |
| Total cost of revenue (c) | 303,630 | 293,645 | 269,954 |
| Gross profit | 142,921 | 153,960 | 159,955 |
| Operating expenses: | |||
| Research and development (d) | 49,732 | 57,129 | 57,752 |
| Selling and marketing | 42,619 | 46,178 | 49,664 |
| General and administrative | 50,066 | 48,271 | 44,391 |
| Total operating expenses | 142,417 | 151,578 | 151,807 |
| Income from operations | 504 | 2,382 | 8,148 |
| Income on equity method investment | 1,838 | 2,572 | 241 |
| Interest expense | (11,624) | (10,632) | (8,129) |
| Other expense, net | (2,538) | (1,110) | (2,262) |
| Loss before provision for income taxes | (11,820) | (6,788) | (2,002) |
| Provision for income taxes | 3,725 | 2,492 | 3,345 |
| Net loss | $(15,545) | $(9,280) | $(5,347) |
| Net loss per share - basic and diluted | $(0.16) | $(0.10) | $(0.06) |
| Weighted average common shares used in computing net loss per share: | |||
| Basic and diluted | 98,272 | 94,884 | 92,095 |
| Net loss | $(15,545) | $(9,280) | $(5,347) |
| Foreign currency translation adjustment | (2,445) | (791) | (3,998) |
| Change in defined benefit pension obligation | (2,199) | (1,193) | 4,311 |
| Comprehensive loss | $(20,189) | $(11,264) | $(5,034) |
(a)
Includes sales of products to the joint venture, an equity method investment, of$77,497 during the year ended June 30, 2024,$55,658 during the year ended June 30, 2023, and$45,545 during the year ended June 30, 2022, respectively. See Note 11.
(b)
Includes sales of services to the joint venture, an equity method investment, of$15,039 during the year ended June 30, 2024,$10,919 during the year ended June 30, 2023, and$10,332 during the year ended June 30, 2022, respectively. See Note 11.
(c)
Includes cost of revenue from sales to the joint venture, an equity method investment, of$59,853 during the year ended June 30, 2024,$37,772 during the year ended June 30, 2023, and$35,237 during the year ended June 30, 2022, respectively. See Note 11.
(d)
Includes charge backs to the joint venture, an equity method investment, related to research and development of$942 during the year ended June 30, 2024,$1,463 during the year ended June 30, 2023, and$2,336 during the year ended June 30, 2022, respectively.
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