Accuray (ARAY)
Builds radiation-treatment systems, planning software, and services around the CyberKnife and TomoTherapy platforms.
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Sells CyberKnife, TomoTherapy, and Radixact systems alongside treatment-planning, data-management, installation, training, and post-contract services. The business serves radiation-oncology providers internationally and depends on regulation, reimbursement, clinical adoption, supply chains, and product approvals.
CyberKnife, TomoTherapy, and the Radixact platform anchor a radiation-treatment portfolio for oncology providers. CyberKnife reflects the company's robotic radiosurgery heritage, while Radixact is its next-generation TomoTherapy platform used across the portfolio. Treatment-planning and data-management software, installation, training, and post-contract service extend the systems business.
Sales, distribution, strategic partnerships, and joint ventures support an international commercial model. The platforms aim to deliver advanced treatments while minimizing dose to healthy tissue.
The business depends on regulatory requirements, reimbursement, clinical adoption, international operations, supply chains, debt, foreign exchange, and product-development and approval timing.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| May 12, 2026 | Jefferies | Downgrade | ||
| May 7, 2026 | BTIG | Downgrade | ||
| Feb 5, 2026 | BTIG | Reiterate | Rating: —Target: $6 | Target: $2 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $40.6M · Total debt $183.9M · Total assets $443.7M · Shareholders' equity $41.7M
- Revenue
- $100.9M
- Operating income
- −$7.1M
- Net income
- −$1.9M
No dividends on record.
| Institutions | 59.76% | 71.38M shares | |
|---|---|---|---|
| 111 holders · as of Jun 30, 2026 | |||
| Insiders | 4.30% | 5.13M shares | |
| 16 holders · as of Apr 1, 2026 | |||
| Other | 35.94% | 42.93M shares | |
| remainder | |||
119.44M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
TCW Group IncInstitution | 15.86% | 18.94M | as of Jun 30, 2026 |
Neuberger Berman Group LLCInstitution | 5.09% | 6.07M | as of Jun 30, 2026 |
Armistice Capital, LLCInstitution | 4.80% | 5.74M | as of Jun 30, 2026 |
Weber Capital Management LLC /AdvInstitution | 4.13% | 4.93M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.72% | 4.44M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 20, 2026 | Steven F. Mayer | director | +54,875 | $0.5627 |
| Feb 18, 2026 | Steven F. Mayer | director | +126,125 | $0.5328 |
| Feb 19, 2026 | Steven F. Mayer | director | +69,000 | $0.5304 |
| Nov 19, 2025 | Stephen R. la Neve | director, officer: CEO | +20,000 | $0.9705 |
Not reported.