
Cancel anytime
- Chart
- Upturn Summary
- Highlights
- Revenue
- Valuation
Upturn AI SWOT
- About


Accuray Incorporated (ARAY)



- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- Pass (Skip investing)


(see disclosures)
- ALL
- YEAR
- MONTH
- WEEK
Upturn Advisory Summary
09/15/2025: ARAY (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $5.5
1 Year Target Price $5.5
3 | Strong Buy |
1 | Buy |
0 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -65.96% | Avg. Invested days 26 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
![]() ![]() | ![]() ![]() |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 176.90M USD | Price to earnings Ratio - | 1Y Target Price 5.5 |
Price to earnings Ratio - | 1Y Target Price 5.5 | ||
Volume (30-day avg) 4 | Beta 1.27 | 52 Weeks Range 1.14 - 2.95 | Updated Date 09/14/2025 |
52 Weeks Range 1.14 - 2.95 | Updated Date 09/14/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.02 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -0.35% | Operating Margin (TTM) 3.73% |
Management Effectiveness
Return on Assets (TTM) 1.04% | Return on Equity (TTM) -2.52% |
Valuation
Trailing PE - | Forward PE 94.34 | Enterprise Value 295864120 | Price to Sales(TTM) 0.39 |
Enterprise Value 295864120 | Price to Sales(TTM) 0.39 | ||
Enterprise Value to Revenue 0.65 | Enterprise Value to EBITDA 14.62 | Shares Outstanding 112677000 | Shares Floating 108972322 |
Shares Outstanding 112677000 | Shares Floating 108972322 | ||
Percent Insiders 2.06 | Percent Institutions 71.26 |
Upturn AI SWOT
Accuray Incorporated

Company Overview
History and Background
Accuray Incorporated was founded in 1990. It develops, manufactures, and sells radiotherapy systems for cancer treatment. The company has evolved from focusing solely on radiosurgery to offering a range of radiation therapy solutions.
Core Business Areas
- Radiation Oncology Systems: Design, manufacture, and sale of radiation therapy systems including the CyberKnife and TomoTherapy platforms.
- Service and Support: Provides service, maintenance, and training for its installed base of systems.
Leadership and Structure
Suzanne Winter is the President and CEO. The company has a typical corporate structure with departments like R&D, Sales, Marketing, and Operations.
Top Products and Market Share
Key Offerings
- CyberKnife: A robotic radiosurgery system used for treating tumors throughout the body. Competitors include Varian Medical Systems, Elekta. Estimated market share for robotic radiosurgery is ~25% for Accuray.
- TomoTherapy: A radiation therapy system that delivers helical radiation therapy. Competitors include Varian Medical Systems, Elekta. Market share estimates are more difficult to ascertain given it falls into a broader radiation therapy category.
Market Dynamics
Industry Overview
The radiation oncology market is driven by the increasing prevalence of cancer and advancements in treatment technologies. The market is highly competitive and regulated.
Positioning
Accuray positions itself as a leader in precision radiation therapy, particularly with its CyberKnife system. Its competitive advantage lies in its robotic radiosurgery capabilities and adaptive radiation therapy.
Total Addressable Market (TAM)
The global radiation oncology market is expected to reach approximately $9 billion by 2028. Accuray holds a small share of that TAM but focuses on specific niches (stereotactic radiosurgery and SBRT).
Upturn SWOT Analysis
Strengths
- CyberKnife technology
- Strong brand recognition in radiosurgery
- Innovation in adaptive radiation therapy
- Global installed base
Weaknesses
- Smaller market share compared to larger competitors
- High product costs
- Dependence on capital equipment sales
- Historically inconsistent profitability
Opportunities
- Expanding into emerging markets
- Developing new applications for existing technologies
- Partnerships and collaborations with other healthcare providers
- Increased adoption of stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT)
Threats
- Intense competition from larger players like Varian and Elekta
- Technological obsolescence
- Changing reimbursement policies
- Economic downturns affecting hospital capital spending
Competitors and Market Share
Key Competitors
- VAR
- EKTA
Competitive Landscape
Accuray faces strong competition from larger, more established players. Accuray's advantage lies in its CyberKnife technology, but it must compete on price and service to maintain its position.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been uneven, with periods of rapid expansion followed by periods of slower growth or decline.
Future Projections: Analysts project modest revenue growth in the coming years, driven by increasing demand for radiation therapy and adoption of new technologies.
Recent Initiatives: Focus on software solutions for treatment planning, improving global reach and expanding service offerings.
Summary
Accuray is a specialized player in the radiation oncology market, possessing a unique technology with CyberKnife. While they have niche market share and strengths in innovation, profitability challenges and competition from larger firms like Varian and Elekta remains. Focusing on expanding international presence and creating new product applications will assist in market presence. Accuray's future trajectory depends on capitalizing on SBRT/SRS advancements and managing financial performance.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company SEC Filings, Analyst Reports, Industry Publications
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market share data is estimated and may vary.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Accuray Incorporated
Exchange NASDAQ | Headquaters Madison, WI, United States | ||
IPO Launch date 2007-02-08 | President, CEO & Director Ms. Suzanne Winter M.B.A. | ||
Sector Healthcare | Industry Medical Devices | Full time employees 990 | Website https://www.accuray.com |
Full time employees 990 | Website https://www.accuray.com |
Accuray Incorporated engages in the design, development, manufacture, and sale of radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. The company offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate. It also provides the TomoTherapy platform, including the Radixact System, which allows for integrated radiation treatment planning, delivery, and data management, enabling clinicians to deliver ultra-precise treatments to approximately 50 patients per day; iDMS data management system, a fully integrated treatment planning and data management systems; and Accuray precision treatment planning system, a treatment planning and data management systems. In addition, the company offers post-contract customer support, installation, training, and other professional services. It primarily markets its products directly to customers, including hospitals and stand-alone treatment facilities through its sales organization, as well as to customers through sales agents and group purchasing organizations in the United States; and to customers directly and through distributors and sales agents internationally. Accuray Incorporated was incorporated in 1990 and is headquartered in Madison, Wisconsin.

Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.