Reading ARAY? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track ARAY free→Reading ARAY? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track ARAY free→NASDAQHealth CareMedical DevicesSnapshot 2026-06-15
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is neutral, and management's recent track record has been unsteady, with frequent disruptive corporate changes. The company was unprofitable over the past year, so its earnings quality can't be assessed, and it is facing elevated risk in a sector backdrop that is a headwind. Compared with sector peers, ARAY trades below typical levels. This read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 0 valuation methods, at three horizons. Current price $0.32. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Not enough valuation methods to set a 12-month read yet.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Looks cheaper than most peers in the same business.
Self-history needs ~20 months of data.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 50% of the time over the next year (vs 57% for the rest of the cohort, n=3115).
Over the trailing year it converted 0.67x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
19 material management or governance events in the past 24 months, led by executive changes. Historically, Health Care names rated volatile grew net income 43% of the time over the next year (vs 57% for the rest of the cohort, n=600).
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $0.03 → $-0.03 (-200.0% / 30d). 0 raised, 1 cut, 1 covering analysts.
0 upgrades, 0 downgrades / 30d. 0% of analysts rate Buy.
0 positive, 1 negative / 30d. See F4 management tile for the event list.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$468.
How much price usually moves either way.
On a bad day, this stock has moved -$831.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $8,541.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
Valuation rose by 11.0 points (from 59.0 to 70.0).
No material changes since the prior snapshot.
as of 2026-06-15
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: The earnings report will show how Accuray is doing financially. It will also show how they handle recent problems.
Confirms one read:Accuray might report more money made and better profit in the earnings release.
Confirms the other:Accuray might report less money made and bigger losses than expected.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for ARAY yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Termination of a Material Definitive Agreement. On June 1, 2026, the remaining outstanding aggregate principal amount of 3.75% Convertible Senior Notes due 2026 (the “Notes”) issued by Accuray Incorporated (the “Company”), pursuant to the Indenture, dated as of May 13, 2021 (the “Indenture”), by and among the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), matured and were repaid in full by the Company, together with accrued and unpaid interest thereon…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q2
A side-by-side read on sector standing, valuation, and risk versus Health Care Equipment.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
ARAY Accuray, Inc. | Below typical Show detailsSector percentile: 14 of 100 | — | elevated |
ABT Abbott Laboratories | Above typical Show detailsSector percentile: 94 of 100 | fair | moderate |
ISRG Intuitive Surgical | Above typical Show detailsSector percentile: 94 of 100 | expensive | moderate |
SYK Stryker Corporation | Above typical Show detailsSector percentile: 71 of 100 | fair | moderate |
MDT Medtronic | Above typical Show detailsSector percentile: 89 of 100 | fair | moderate |
Not investment advice. As of 2026-06-15.
via XLV
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-15.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
The company has withdrawn its financial guidance for fiscal year 2026 due to recent financial performance.
Newly stated in 2026-Q3. The company withdrew its financial guidance for fiscal year 2026 following an earnings miss. Revenue for 2026-Q3 was $104.8M, down from $135.1M in 2025-Q4, indicating declining performance. This decision reflects the company's response to financial challenges, with limited progress in reversing the trend.
“The company announced the withdrawal of its financial guidance for fiscal year 2026.”
The company repaid in full the remaining outstanding principal amount of its 3.75% Convertible Senior Notes due 2026.
Newly stated in 2026-Q3. The company repaid its 3.75% Convertible Senior Notes due 2026, indicating a focus on managing debt obligations. Despite this repayment, the company's net income was negative at -$11.8M for 2026-Q3, showing limited progress in improving overall financial health.
“The remaining outstanding principal amount of 3.75% Convertible Senior Notes was repaid in full.”
The company received a notice from Nasdaq regarding non-compliance with the Bid Price Rule.
Newly stated in 2026-Q1. The company received a notice from Nasdaq for non-compliance with the Bid Price Rule, highlighting regulatory challenges. Despite efforts to address this, the company's revenue decreased from $116.2M in 2025-Q2 to $104.8M in 2026-Q3, indicating limited progress in improving market perception and financial performance.
“The company received a notice from Nasdaq for non-compliance with the Bid Price Rule.”
Why it matters: The end of the agreement could hurt Accuray's finances and growth plans. Investors must watch how this affects future operations.
Confirms:Accuray may show a big drop in revenue or higher losses in the next earnings report.
Disproves:Accuray might keep making steady or better money even after the deal ends.
Results of Operations and Financial Condition. On May 6, 2026, the Company issued a press release announcing its financial results for the third quarter ended March 31, 2026, and the withdrawal of its financial guidance for fiscal year 2026. A copy of the Company’s press release dated May 6, 2026, titled “Accuray Reports Fiscal 2026 Third Quarter Financial Results” is furnished as Exhibit 99.1 hereto and is incorporated herein by reference. The foregoing information (including the exhibits he…
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) Leonel Peralta, Senior Vice President, Chief Operations Officer of Accuray Incorporated (the “Company”), departed from the Company effective April 26, 2026. Mr. Peralta’s resignation was not a result of any disagreement with the Company or the Board of Directors of the Company, or any matter relating to the Company’s operations, policies or pra…
Entry into a Material Definitive Agreement. Amendment to Consulting Agreement On April 1, 2026, Accuray Incorporated (the “Company”) entered into a letter agreement amendment (the “Amendment”) to the Consulting Agreement with Dedication Capital, LLC (an affiliate of Steven F. Mayer, a member of the board of directors of the Company), dated October 18, 2025 (together with the Amendment, the “Consulting Agreement”). Pursuant to the Amendment, the cash compensation payable under the Consulting A…
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously disclosed, Sandeep Chalke, the Senior Vice President, Chief Commercial Officer of Accuray Incorporated (the “Company”), will depart from the company effective March 31, 2026. In connection with Mr. Chalke’s departure, on March 13, 2026, the Company entered into a separation agreement and general release (the “Separation Agreement”) wi…