Sunnyvale, California – Accuray Incorporated, a medical technology company, recently held its Q4 2024 earnings call to discuss financial results for the fiscal year that ended on June 30, 2024. During the call, company executives, including the President and CEO Suzanne Winter and CFO Ali Pervaiz, reviewed recent corporate developments and highlighted key accomplishments and focus areas for the upcoming fiscal year.

One of the significant achievements discussed during the call was the company’s solid performance in the fourth quarter of fiscal year 2024. Total company revenue saw a 14% year-over-year growth, driven by a record number of system shipments and strong operational and commercial execution. The momentum going into fiscal year 2025, particularly in international markets, was highlighted as a key factor in the company’s growth.

In the quarter, there was notable acceleration in shipments to new customers, particularly in emerging markets like APAC and Latin America. China, despite facing challenges from the anti-corruption campaign, experienced an 80% growth in orders year-over-year in the quarter. The company emphasized its focus on gaining share in Latin America and highlighted a significant order growth in the region, including a competitive replacement win in Mexico.

Product revenue contributed significantly to the growth in the quarter, with a 28% increase year-over-year, driven by strong demand in markets like China and APAC. However, the Americas region, particularly the US, continued to show weakness in Q4, with product revenue down 50% year-over-year due to customer delays and installations.

Service revenue, although slightly down in the quarter, showed promising growth in recurring contract revenue, up 4% year-over-year. The company highlighted strategies to drive growth in service revenue, including expanding service solutions and introducing new service offerings to improve customer satisfaction and operational performance.

Looking ahead to fiscal year 2025, executives expressed confidence in the company’s strategic growth plan. They highlighted a strong backlog of orders, continued focus on working capital improvements, and expansion into emerging markets like India. The company also discussed regulatory wins, such as CE Mark clearance for new products, and emphasized plans to drive top-line growth and gain market share in key regions.

In conclusion, Accuray’s earnings call provided insights into the company’s performance, key achievements, and growth strategies for the upcoming fiscal year. Executives expressed optimism about the company’s growth potential, particularly in international and emerging markets, while remaining cautious about market conditions, especially in the US.