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Accuray Incorporated (ARAY)

Nasdaq: ARAY · Surgical & Medical Instruments & Apparatus · Madison, WI · filing with the SEC since 2002
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Grade2.8
◀ Past 2.7● Present 3.3▶ Future 2.4
1 est.
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The grade of Accuray Incorporated

Nine metrics read from its own filings, by tense
Headline grade
2.8/10
◀ Past2.730% of the headline
● Present3.340% of the headline
▶ Future2.430% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

2.7/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
0.4/10

Has it survived what it has been through?

5 warning events since 2017; the latest 2026-08-06.

weight 33% of this tense · 4th percentile among 121 sector filers · read for itself

From the record

Accuray Incorporated's filings since 2017 show 5 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, 2 times, the latest 2026-08-06); a warning not to rely on past financial statements (8-K item 4.02, the latest 2026-02-09); a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2026-02-09) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
3.5/10

What has it actually done, year after year?

+0.5% a year over 10 filed years; profitable in 1 of 10.

weight 45% of this tense · 35th percentile among 105 sector filers · read for its customers

From the record

Accuray Incorporated's 10 filed years say what it did: revenue went from $383 million in fiscal 2017 to $402 million in fiscal 2026, up 0.5% a year; it rose in 6 of 9 years; the deepest fall was 12% from fiscal 2025 to fiscal 2026; net income was positive in 1 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span0.5%bottom 15% of its family
  • the share of years revenue rosebottom 32% of its family
  • the share of filed years with a profittop 50% of its family
  • the deepest fall from a revenue peak12.3%bottom 42% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
4.7/10

How has it treated the people who own it?

SI estimate 4.7/10, confidence 35 of 100 (one part).

weight 22% of this tense · 47th percentile among 120 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 47% of 120 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 120 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Accuray Incorporated's shareholder treatment is put at 4.7 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 47% of 120 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.3/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
2.8/10

Is it financially healthy right now?

ROE -118%: lost 118¢ per shareholder dollar. Leverage 91%: owes 91¢ per asset dollar.

weight 45% of this tense · 28th percentile among 120 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2026-06-30, Accuray Incorporated lost about 118 cents for every dollar of shareholders' money, and gross profitability: its products earned about 25 cents per dollar of everything the company owns. Leverage: it owed about 91 cents per dollar of assets, and net share issuance: its share count grew 19.3% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 10% of its family
  • return on equitybottom 25% of its family
  • gross profit against assetsbottom 36% of its family
  • the share count against the year beforebottom 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
4.8/10

How strong is its position in its industry?

bottom 48% of 109 in its family; net margin -12.2%.

weight 33% of this tense · 48th percentile among 109 sector filers · read for its customers

From the record

Accuray Incorporated's standing among 109 graded names in its industry family: revenue of $402 million in fiscal 2026 ranks in the top 30% by size; a net margin of -12.2% ranks in the top 44%; revenue growth of -3.5% a year over the last 3 filed years ranks in the bottom 18% (its annual reports).

What it rests on

  • revenue against the family$402Mtop 30% of its family
  • net margin-12.2%top 44% of its family
  • three-year revenue growth-3.5%bottom 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
1.9/10

What are the people in charge doing?

bottom 19% of 91 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 19th percentile among 91 sector filers · read for its shareholders

From the record

Accuray Incorporated's leadership, from its insiders' filings and its current reports: the chief executive on the record is La, Neve Stephen R. (CEO, as filed), filing under that title since 2025-11-04, 1 years (bottom 21% of its family); the 16 officers and directors filing in the last fifteen months have been on the record a median of 4.1 years (bottom 25%); 19 officer or director changes were reported on Form 8-K since 2023-11-13, against the 16 people in charge now (bottom 12%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge19 in three years among 16 peoplebottom 12% of its family
  • the median years the people in charge have filed4.1 yearsbottom 25% of its family
  • the chief executive's years on the record1.0 yearsbottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

2.4/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
2.9/10

How much room does it have to grow?

bottom 29% of 104 in its family for room to expand.

weight 45% of this tense · 29th percentile among 104 sector filers · read for itself

From the record

Accuray Incorporated's room to grow, from the newest filed statements (fiscal 2026): cash of $41 million against debt of $148 million leaves -24.2% of its assets as net cash, bottom 12% of its family; cash from operations less capital spending is -3.2% of revenue (top 47%); a gross margin of 27.7% (bottom 10%); research spending of 9.4% of revenue (bottom 41%) (its annual report).

What it rests on

  • cash less debt against assets-24.2%bottom 12% of its family
  • cash from operations less capital spending against revenue-3.2%top 47% of its family
  • gross margin27.7%bottom 10% of its family
  • research spending against revenue9.4%bottom 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
2.2/10

What could actually drive growth from here?

bottom 22% of 105 in its family for growth drivers.

weight 33% of this tense · 22nd percentile among 105 sector filers · read for its customers

From the record

Accuray Incorporated's growth drivers, from the filed years to fiscal 2026: revenue grew -3.5% a year over the last three filed years against 0.5% over all 10, slowing (bottom 40% of its family); the newest year grew -12.3% (bottom 12%); research spending grew -12.9% a year (bottom 11%); capital spending grew -22.5% a year (bottom 25%) (its annual reports). Accuray Incorporated reported 2 product lines in fiscal 2026: Service at $229 million (57%), Product at $173 million (43%); 1 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-4.0 points a yearbottom 40% of its family
  • the newest year's revenue growth-12.3%bottom 12% of its family
  • three-year growth of research spending-12.9%bottom 11% of its family
  • three-year growth of capital spending-22.5%bottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
1.5/10

Did its newest year beat what its own record pointed to?

bottom 15% of 88 in its family for expectations against reality.

weight 22% of this tense · 15th percentile among 88 sector filers · read for its shareholders

From the record

Accuray Incorporated's newest year against its own record: revenue of $402 million in fiscal 2026 came in 13.4% below the $464 million its prior three years' pace pointed to (bottom 29% of its family); net income of $49 million against a prior three-year average of $9 million (bottom 4%); a net margin of -12.2% against -2% before (bottom 12%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-13.4%bottom 29% of its family
  • net income against the prior three years' average-459%bottom 4% of its family
  • net margin against its prior average-10.3 pointsbottom 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton ARAY · research, not advice