Accuray by the Numbers 4492

This year's featured leaders illustrate medtech's ability to adapt and thrive in an ever-changing business environment.

Steve Halasey

September 1, 2008

2 Min Read
Accuray by the Numbers


(click to enlarge)Share price for Accuray Inc. (NASDAQ: ARAY; Sunnyvale, CA) versus the S&P 500, since the company went public in February 2007. Although promising clinical results and product orders bode well for Accuray, the company's share price has endured a downward slide since its initial public offering, when it briefly neared the $30 level.

In its first full year as a publicly held company, Accuray Inc. (Sunnyvale, CA) has maintained a strong balance sheet and solid revenue growth. The company was profitable in all four quarters, and ended its fiscal year in June 2008 with $159 million in cash and investments, and no debt. Accuray reported a backlog of $647 million, with approximately $359 million in sales contracts for the CyberKnife robotic radiosurgery system and another $288 million associated with services and other recurring revenue. Additionally, Accuray's revenue for fiscal 2008 reflected an annual growth rate of 50%, increasing to $210.4 million from $140.5 million the previous year.

Accuray estimates that the worldwide market opportunity for CyberKnife systems is approximately 7500 units. Currently, there are more than 140 CyberKnife systems installed around the world, with 90 in the Americas, 20 in Japan, 18 in the rest of Asia, and 12 in Europe. In June, Accuray received regulatory approval in Japan to market the CyberKnife system for extracranial radiosurgery. As a result, the company sees great potential for growth in this key market. Previously, the CyberKnife system was only approved for intracranial treatments, and despite that limitation, Japan was the largest market for the system outside of the United States.

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