13 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 0.3% per year over the past 5 years.
Operating margin has contracted, at -6.6% in the latest year.
Financial health
Total debt ($148M) exceeds cash ($41M); net debt is $107M.
Total debt has grown slower than revenue (-3.6% vs 0.3% per year).
Operating income covered interest expense -0.8× in the latest year.
The company is unprofitable; at its current free-cash-flow burn it has roughly 3.2 years of cash runway.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2026
$402M
-$49M
27.7%
-6.6%
-118.0%
-11.1%
-$13M
$148M
$41M
2025
$459M
-$2M
32.1%
1.7%
-2.0%
-0.3%
-$1M
$149M
$57M
2024
$447M
-$16M
32.0%
0.1%
-34.5%
-3.3%
-$16M
$180M
$69M
2023
$448M
-$9M
34.4%
0.5%
-17.3%
-1.9%
$3M
$183M
$89M
2022
$430M
-$5M
37.2%
1.9%
-10.1%
-1.1%
-$7M
$189M
$89M
2021
$396M
-$6M
40.3%
5.6%
-9.2%
-1.3%
$36M
$178M
$116M
2020
$383M
$4M
39.1%
3.3%
6.0%
0.8%
-$5M
$189M
$108M
2019
$419M
-$16M
38.8%
0.1%
-32.9%
-3.7%
-$34M
$160M
$77M
2018
$405M
-$24M
39.9%
-0.9%
-49.1%
-6.3%
$12M
$131M
$83M
2017
$383M
-$30M
36.9%
-2.6%
-63.6%
-7.3%
-$5M
$165M
$72M
2016
$399M
-$26M
39.8%
-1.2%
-42.7%
-5.4%
$23M
$210M
$120M
2015
—
-$40M
—
—
-53.1%
-8.6%
-$25M
$203M
$80M
2014
—
-$35M
—
—
-36.0%
-7.2%
—
$196M
$92M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$101M
-$2M
34.8%
5.5%
-4.7%
-0.4%
$2M
$148M
$41M
Mar '26
$105M
-$12M
24.1%
-8.7%
-28.3%
-2.6%
-$6M
$145M
$38M
Dec '25
$102M
-$14M
23.5%
-11.3%
-25.8%
-3.1%
-$19M
$136M
$41M
Sep '25
$94M
-$22M
28.3%
-12.0%
-35.0%
-4.7%
$10M
$153M
$63M
Jun '25
$128M
$1M
30.6%
3.3%
1.4%
0.2%
-$11M
$149M
$57M
Mar '25
$113M
-$1M
27.9%
0.9%
-2.6%
-0.3%
$17M
$181M
$78M
Dec '24
$116M
$3M
36.1%
4.1%
5.3%
0.5%
$927000
$183M
$63M
Sep '24
$102M
-$4M
33.9%
-2.1%
-8.7%
-0.8%
-$8M
$178M
$59M
Jun '24
$134M
$3M
28.6%
5.1%
7.5%
0.7%
$9M
$180M
$69M
Mar '24
$101M
-$6M
28.7%
-4.5%
-15.4%
-1.4%
-$9M
$181M
$60M
Dec '23
$107M
-$10M
33.5%
-3.7%
-20.2%
-2.0%
-$6M
$181M
$73M
Sep '23
$104M
-$3M
38.0%
2.1%
-5.8%
-0.6%
-$10M
$182M
$77M
Jun '23
$118M
-$3M
31.9%
-0.4%
-4.8%
-0.5%
$846000
$183M
$89M
Mar '23
$118M
$599000
32.8%
2.0%
1.1%
0.1%
$23M
$184M
$89M
Dec '22
$115M
-$2M
37.4%
2.4%
-3.6%
-0.4%
-$20M
$186M
$68M
Sep '22
$96M
-$5M
35.9%
-2.3%
-11.6%
-1.2%
-$1M
$182M
$81M
Jun '22
$110M
-$3M
39.1%
1.9%
-6.5%
-0.7%
-$6M
$189M
$89M
Mar '22
$96M
-$1M
36.2%
-0.3%
-2.0%
-0.2%
-$23M
$189M
$98M
Dec '21
$116M
$179000
36.7%
3.4%
0.4%
0.0%
$32M
$190M
$123M
Sep '21
$107M
-$1M
36.8%
2.2%
-2.2%
-0.2%
-$10M
$201M
$105M
Valuation over time
How the market has priced ARAY against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has fallen from 0.8× (Mar '23) to 0.1× (Sep '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is ARAY growing its revenue and profit?
Over the past 5 years, ACCURAY INC's revenue has grown 0.3% per year. These are computed facts, not advice.
How much debt does ARAY have?
As of FY2026, ACCURAY INC reported $148M of total debt against $41M of cash; operating income covered interest expense -0.8×.
What is ARAY's profit margin?
In FY2026, gross margin was 27.7%, operating margin -6.6%, and net margin -12.2%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.