Accuray provides cancer-care technology that uses robotics and image guidance to deliver precise, non-invasive radiation treatments. Its flagship CyberKnife system places a robotic arm around the patient to aim highly focused radiation beams at tumors anywhere in the body, performing radiosurgery without surgery. In 2011 it expanded its product line by acquiring TomoTherapy, adding a helical radiation therapy platform to its portfolio, broadening the ways clinicians can treat cancer. The company differentiates itself by combining robotics with real-time imaging to track tumors and adjust treatment in real time, and by offering a broader, multi-product radiation oncology system rather than a single device. Accuray’s goal is to provide effective, non-invasive cancer treatments to patients worldwide, growing its global installed base and advancing access to precise radiation therapy.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Madison, Wisconsin
Founded
1990
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Accuray Incorporated announced stockholders approved all proposals at its 6 October 2026 special meeting, advancing a strategic financing agreement with TCW Asset Management Company LLC, its primary lender and major shareholder. The July 2026 deal converts $40 million of term loan debt into convertible preferred stock and includes a $15 million equity investment from TCW. Accuray also gains access to a delayed draw term loan of up to $5 million and relief from certain financial covenants until 31 December 2027. Approved measures include issuing common stock under Nasdaq rules, increasing authorised shares, and implementing a reverse stock split with a ratio between 1-for-15 and 1-for-40. The company also announced governance enhancements and board expansion.
Accuray (ARAY) highlights Samsung NeuroLogica volumetric imaging collaboration for CyberKnife as shares jump during market hours. 28 September 2026, 9:55 AM The collaboration aims to bring more volumetric imaging information into the treatment room, but no product has been announced. Accuray Incorporated (NASDAQ:ARAY) said it has entered into agreements with Samsung HME America, Inc., dba NeuroLogica Corp. ("Samsung NeuroLogica") to pursue advanced volumetric imaging capabilities for the CyberKnife System. The announcement coincided with the American Society of Radiation Oncology (ASTRO) Annual Meeting in Boston, where the companies are highlighting their collaboration. Accuray framed the effort as part of a broader strategy of targeted partnerships - pairing Samsung NeuroLogica's experience in mobile CT and volumetric imaging with Accuray's strengths in precision treatment delivery, robotic radiosurgery, and motion management. Importantly for investors, the company said the work will proceed through phased development and evaluation and that no commercial product offering has been announced.
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.