Accuray, Samsung NeuroLogica advance volumetric imaging collaboration. Sep. 27, 2026, 11:25 AM Accuray Incorporated (ARAY) announced that it had entered into agreements with Samsung HME America (SSNLF) to pursue advanced volumetric imaging capabilities for the CyberKnife System. The announcement coincides with the American Society of Radiation Oncology, ASTRO, Annual Meeting in Boston, Massachusetts, where the companies are highlighting their collaboration. The collaboration represents another example of Accuray's strategy to address customer priorities through targeted partnerships that bring together complementary expertise. Published first on TheFly - the ultimate source for real-time, market-moving breaking financial news. Try Now>> Read More on ARAY:

Accuray Incorporated reported fiscal 2026 results, describing the year as foundational for streamlining operations and reducing costs. Geopolitical tensions and tariff uncertainty in China contributed to approximately $58 million in product revenue decline. The company achieved $20 million in cost and margin improvements, exceeding its initial $12 million target. Service revenue grew 6% in Q4, driven by strategic pricing and an expanding installed base. Accuray is pivoting to a partner-centric model, using nonbinding letters of intent with Samsung Medison and Research Laboratories to accelerate innovation. The company completed a restructuring transaction with TCW Asset Management, converting $40 million of debt into preferred equity. Management is not providing fiscal 2027 guidance due to geopolitical uncertainty. The company expects approximately $15 million in additional annualised cost improvements and has secured a covenant holiday through December 2027.

Accuray reported Q4 2026 net revenue of $100.9 million, down 21% year-over-year, with full-year revenue at $402 million, down 12%. Product revenue fell 42% in Q4 to $40.8 million, whilst service revenue rose 6% to $60.1 million. The medical device company exceeded its transformation cost-saving target, achieving over $20 million in savings versus a $12 million goal. Q4 gross margin improved to 34.8% from 30.6% in the prior year. Accuray strengthened its balance sheet through a transaction with TCW, including debt conversion and a $15 million cash investment. The company ended Q4 with $48.8 million in cash and $313 million in order backlog. Full-year adjusted EBITDA was $10.6 million, down from $28.3 million in the prior year.