Accuray (NSDQ:ARAY) shares were slightly down after hours today on first-quarter results that beat the consensus forecast.
The Sunnyvale, Calif.-based radiation oncology company posted losses of $1 million, or 1¢ per share, on sales of $107.4 million for the three months ended Sept. 30, 2021, seeing its bottom line slide into the red despite sales growth of 25.9%.
Accuray’s losses per share of 1¢ came in 5¢ ahead of Wall Street, where analysts were looking for sales of $93.9 million.
“By any measure, our Q1 performance was a very strong start to our FY22 fiscal year. Q1 revenue of $107.4 million represents the largest first fiscal quarter revenue that Accuray has ever recorded,” Accuray CEO Joshua Levine said in a news release. “Our performance reflects the visible impact of the investments in innovation we have made to our product portfolio, how those new technologies are being received by customers across the world and a laser-like focus on commercial execution, all of which are driving accelerated revenue growth in our business.”
Accuray did not offer full financial guidance for 2022.
ARAY shares were down 0.2% at $5.51 per share after hours today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day down 0.1%.