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Accuray (ARAY) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2 min read

For the quarter ended March 2023, Accuray (ARAY) reported revenue of $118.06 million, up 22.8% over the same period last year. EPS came in at $0.01, compared to -$0.01 in the year-ago quarter.

The reported revenue represents a surprise of +6.43% over the Zacks Consensus Estimate of $110.93 million. With the consensus EPS estimate being -$0.01, the EPS surprise was +200.00%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Accuray performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Order Backlog - Total: $506.59 million compared to the $564.05 million average estimate based on three analysts.

  • Net Orders: $54.74 million versus the three-analyst average estimate of $51.56 million.

  • Gross Orders: $73.76 million compared to the $89.10 million average estimate based on three analysts.

  • Net revenue- Services: $55.21 million compared to the $54.72 million average estimate based on three analysts. The reported number represents a change of +4.2% year over year.

  • Net revenue- Products: $62.85 million versus $56.21 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +45.5% change.

View all Key Company Metrics for Accuray here>>>

Shares of Accuray have returned -2.8% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research