Accuray Inc rises on higher Q4 revenue

Accuray

15/08/2024 16:06

** Shares of medtech co Accuray Inc  ARAY.O  rise 36.2% to
$1.94 
    ** Co late on Wednesday reported a 13.5% rise in Q4 total
net revenue of $134.3 mln vs $118.3 mln a year ago  
     ** Q4 net income $3.4 mln, compared to net loss of $2.6 mln
a year ago
    ** Forecast FY 2025 revenue to be in the range of $460 mln
to $470 mln 
    ** The revenue forecast is above consensus estimates of
$456.4 mln - BTIG analysts
    ** "The high and low end of the guidance range contemplates
different scenarios for a recovery in the U.S. market.
Management is cautiously optimistic that they will see
conditions improve in 2H FY25 and into fiscal year 2026"- BTIG  
    ** Cash, cash equivalents, and short-term restricted cash
were $69.1 mln as of June 30, an increase of $7.9 mln from March
31
    ** Including session moves, stock down 30.2% YTD 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))