Accuray (ARAY) 10-Q 5 Feb 25 2025 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2024	Jan. 31, 2025
Cover [Abstract]
Entity Registrant Name	ACCURAY INCORPORATED
Entity Central Index Key	0001138723
Document Type	10-Q
Document Period End Date	Dec. 31, 2024
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Trading Symbol	ARAY
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		102,830,522
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Entity File Number	001-33301
Entity Tax Identification Number	20-8370041
Entity Address, Address Line One	1240 Deming Way
Entity Address, City or Town	Madison
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53717
City Area Code	608
Local Phone Number	824-2800
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.001 par value per share
Security Exchange Name	NASDAQ

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2024	Jun. 30, 2024
Current assets:
Cash and cash equivalents		$ 62,584	$ 68,570
Restricted cash		1,433	485
Accounts receivable, net of allowance for credit losses of $821 and $2,251 as of December 31, 2024, and June 30, 2024, respectively	[1]	87,275	92,001
Inventories, net		148,826	138,324
Prepaid expenses and other current assets	[2]	25,440	23,006
Deferred cost of revenue		333	850
Total current assets		325,891	323,236
Property and equipment, net		26,881	24,774
Investment in joint venture		12,837	9,826
Operating lease right-of-use assets, net		31,716	33,773
Goodwill		57,643	57,672
Restricted cash		1,371	1,337
Other assets		22,043	18,009
Total assets		478,382	468,627
Current liabilities:
Accounts payable		53,991	50,020
Accrued compensation		19,350	17,128
Operating lease liabilities, current		7,518	6,218
Other accrued liabilities		27,987	28,508
Customer advances		12,959	13,988
Deferred revenue		72,088	71,649
Short-term debt		7,560	7,756
Total current liabilities		201,453	195,267
Long-term liabilities:
Operating lease liabilities, non-current		30,459	32,373
Long-term other liabilities		6,010	7,389
Deferred revenue, non-current		24,616	24,114
Long-term debt		167,953	164,400
Total liabilities		430,491	423,543
Commitments and contingencies (Note 7)
Stockholders' equity:
Common stock, $0.001 par value; authorized: 200,000,000 shares as of December 31, 2024, and June 30, 2024, respectively; issued and outstanding: 102,808,518 and 100,194,932 shares at December 31, 2024, and June 30, 2024, respectively		103	100
Additional paid-in-capital		572,287	566,887
Accumulated other comprehensive loss		(5,401)	(4,222)
Accumulated deficit		(519,098)	(517,681)
Total stockholders' equity		47,891	45,084
Total liabilities and stockholders' equity		$ 478,382	$ 468,627
[1] Includes accounts receivable from the joint venture, an equity method invest ment, of $ 26,082 and $ 25,339 at December 31, 2024, and June 30, 2024 , respectively. See Note 12. Includes other receivables from the joint venture, an equity method investment, of $ 377 and $ 743 at December 31, 2024, and June 30, 2024 , respectively.

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Accounts receivable, allowance for credit losses (in dollars)	$ 821	$ 2,251
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized shares	200,000,000	200,000,000
Common stock, issued shares	102,808,518	100,194,932
Common stock, outstanding shares	102,808,518	100,194,932
Accounts Receivable | Corporate Joint Venture [Member]
Accounts receivable from joint venture	$ 26,082	$ 25,339
Prepaid Expenses and Other Current Assets | Corporate Joint Venture [Member]
Accounts receivable from joint venture	$ 377	$ 743

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Net revenue:
Revenue		$ 116,174	$ 107,238	$ 217,719	$ 211,130
Cost of revenue:
Total cost of revenue	[1]	74,282	71,336	141,358	135,735
Gross profit		41,892	35,902	76,361	75,395
Operating expenses:
Research and development	[2]	13,644	15,281	25,760	29,294
Selling and marketing		11,114	11,361	22,796	21,605
General and administrative		12,427	13,224	25,247	26,247
Total operating expenses		37,185	39,866	73,803	77,146
Income (loss) from operations		4,707	(3,964)	2,558	(1,751)
Income (loss) from equity method investment, net		1,604	(427)	1,532	4
Interest expense		(2,883)	(2,922)	(5,838)	(5,844)
Other income (expense), net		(196)	(1,430)	1,651	(2,189)
Income (loss) before provision for income taxes		3,232	(8,743)	(97)	(9,780)
Provision for income taxes		695	878	1,320	2,810
Net income (loss)		$ 2,537	$ (9,621)	$ (1,417)	$ (12,590)
Net income (loss) per share - basic		$ 0.03	$ (0.1)	$ (0.01)	$ (0.13)
Net income (loss) per share - diluted		$ 0.02	$ (0.1)	$ (0.01)	$ (0.13)
Weighted average common shares used in computing net income (loss) per share:
Basic		101,405	97,776	100,796	97,165
Diluted		103,746	97,776	100,796	97,165
Other comprehensive loss:
Net Income (Loss)		$ 2,537	$ (9,621)	$ (1,417)	$ (12,590)
Foreign currency translation adjustment		(2,919)	2,773	(1,179)	635
Comprehensive loss		(382)	(6,848)	(2,596)	(11,955)
Products
Net revenue:
Revenue	[3]	61,189	51,538	109,558	104,888
Cost of revenue:
Total cost of revenue		34,553	34,333	67,014	70,032
Services
Net revenue:
Revenue	[4]	54,985	55,700	108,161	106,242
Cost of revenue:
Total cost of revenue		$ 39,729	$ 37,003	$ 74,344	$ 65,703
[1] Includes cost of revenue from sales to the joint venture, an equity method investment , of $ 15,001 and $ 35,892 during the three and six months ended December 31, 2024 and $ 11,102 and $ 26,373 during the three and six months ended December 31, 2023, respectively . Includes charge backs to the joint venture, an equity method investment, related to research and deve lopment of $ 377 and $ 732 during the three and six months ended December 31, 2024, and $ 67 and $ 199 during the three and six months ended December 31, 2023 , respectively. Includes sales of products to the joint venture, an equity method investment , of $ 29,722 and $ 58,366 during the three and six months ended December 31, 2024 and $ 17,890 and $ 39,842 during the three and six months ended December 31, 2023 , respectively. See Note 12. Includes sales of services to the joint venture, an equity method investment, of $ 5,179 and $ 9,237 during the three and six months ended December 31, 2024 and $ 4,134 and $ 6,988 during the three and six months ended December 31, 2023 , respectively. See Note 12.

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenue		$ 116,174	$ 107,238	$ 217,719	$ 211,130
Total cost of revenue	[1]	74,282	71,336	141,358	135,735
Research and development	[2]	13,644	15,281	25,760	29,294
Products
Revenue	[3]	61,189	51,538	109,558	104,888
Total cost of revenue		34,553	34,333	67,014	70,032
Services
Revenue	[4]	54,985	55,700	108,161	106,242
Total cost of revenue		39,729	37,003	74,344	65,703
Revenue from Joint Venture
Total cost of revenue		15,001	11,102	35,892	26,373
Research and development		377	67	732	199
Revenue from Joint Venture | Products
Revenue		29,722	17,890	58,366	39,842
Revenue from Joint Venture | Services
Revenue		$ 5,179	$ 4,134	$ 9,237	$ 6,988
[1] Includes cost of revenue from sales to the joint venture, an equity method investment , of $ 15,001 and $ 35,892 during the three and six months ended December 31, 2024 and $ 11,102 and $ 26,373 during the three and six months ended December 31, 2023, respectively . Includes charge backs to the joint venture, an equity method investment, related to research and deve lopment of $ 377 and $ 732 during the three and six months ended December 31, 2024, and $ 67 and $ 199 during the three and six months ended December 31, 2023 , respectively. Includes sales of products to the joint venture, an equity method investment , of $ 29,722 and $ 58,366 during the three and six months ended December 31, 2024 and $ 17,890 and $ 39,842 during the three and six months ended December 31, 2023 , respectively. See Note 12. Includes sales of services to the joint venture, an equity method investment, of $ 5,179 and $ 9,237 during the three and six months ended December 31, 2024 and $ 4,134 and $ 6,988 during the three and six months ended December 31, 2023 , respectively. See Note 12.

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at Jun. 30, 2023	$ 53,659	$ 97	$ 555,276	$ 422	$ (502,136)
Balance (in shares) at Jun. 30, 2023		96,535,000
Issuance of common stock to employees, (In shares)		192,000
Share-based compensation	2,392		2,392
Net income (loss)	(2,969)				(2,969)
Foreign currency translation adjustment	(2,138)			(2,138)
Balance at Sep. 30, 2023	50,944	$ 97	557,668	(1,716)	(505,105)
Balance (in shares) at Sep. 30, 2023		96,727,000
Balance at Jun. 30, 2023	53,659	$ 97	555,276	422	(502,136)
Balance (in shares) at Jun. 30, 2023		96,535,000
Net income (loss)	(12,590)
Foreign currency translation adjustment	635
Balance at Dec. 31, 2023	47,653	$ 99	561,223	1,057	(514,726)
Balance (in shares) at Dec. 31, 2023		99,164,000
Balance at Sep. 30, 2023	50,944	$ 97	557,668	(1,716)	(505,105)
Balance (in shares) at Sep. 30, 2023		96,727,000
Issuance of common stock to employees	1,360	$ 2	1,358
Issuance of common stock to employees, (In shares)		2,484,000
Tax withholding upon vesting of restricted stock units	(117)		(117)
Tax withholding upon vesting of restricted stock units (in shares)		(47,000)
Share-based compensation	2,314		2,314
Net income (loss)	(9,621)				(9,621)
Foreign currency translation adjustment	2,773			2,773
Balance at Dec. 31, 2023	47,653	$ 99	561,223	1,057	(514,726)
Balance (in shares) at Dec. 31, 2023		99,164,000
Balance at Jun. 30, 2024	$ 45,084	$ 100	566,887	(4,222)	(517,681)
Balance (in shares) at Jun. 30, 2024	100,194,932	100,195,000
Issuance of common stock to employees, (In shares)		240,000
Share-based compensation	$ 2,353		2,353
Net income (loss)	(3,954)				(3,954)
Foreign currency translation adjustment	1,740			1,740
Balance at Sep. 30, 2024	45,223	$ 100	569,240	(2,482)	(521,635)
Balance (in shares) at Sep. 30, 2024		100,435,000
Balance at Jun. 30, 2024	$ 45,084	$ 100	566,887	(4,222)	(517,681)
Balance (in shares) at Jun. 30, 2024	100,194,932	100,195,000
Net income (loss)	$ (1,417)
Foreign currency translation adjustment	(1,179)
Balance at Dec. 31, 2024	$ 47,891	$ 103	572,287	(5,401)	(519,098)
Balance (in shares) at Dec. 31, 2024	102,808,518	102,809,000
Balance at Sep. 30, 2024	$ 45,223	$ 100	569,240	(2,482)	(521,635)
Balance (in shares) at Sep. 30, 2024		100,435,000
Issuance of common stock to employees	856	$ 3	853
Issuance of common stock to employees, (In shares)		2,419,000
Tax withholding upon vesting of restricted stock units	(90)		(90)
Tax withholding upon vesting of restricted stock units (in shares)		(45,000)
Share-based compensation	2,284		2,284
Net income (loss)	2,537				2,537
Foreign currency translation adjustment	(2,919)			(2,919)
Balance at Dec. 31, 2024	$ 47,891	$ 103	$ 572,287	$ (5,401)	$ (519,098)
Balance (in shares) at Dec. 31, 2024	102,808,518	102,809,000

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net loss	$ (1,417)	$ (12,590)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,977	2,797
Share-based compensation	4,637	4,706
Amortization of debt issuance costs	529	475
Provision (recovery) from credit losses	291	(218)
Provision for write-down of inventories	2,231	2,676
(Income) loss from equity method investment	(1,532)	(4)
Net recognized gross profit on sales to the JV	(894)	(294)
Provision for deferred income taxes	91	894
Changes in assets and liabilities:
Accounts receivable	2,013	(357)
Inventories	(17,103)	(14,641)
Prepaid expenses and other assets	(4,135)	1,274
Deferred cost of revenue	516	293
Accounts payable	4,854	5,103
Operating lease liabilities, net of operating lease right-of-use assets	202	(120)
Accrued compensation and accrued liabilities	317	(5,728)
Customer advances	(963)	1,551
Deferred revenues	1,893	499
Net cash used in operating activities	(5,493)	(13,684)
Cash flows from investing activities
Purchases of property and equipment	(1,994)	(2,341)
Capitalized costs for software to be sold	(696)	0
Net cash used in investing activities	(2,690)	(2,341)
Cash flows from financing activities
Proceeds from the issuance of common stock to employees	856	1,360
Taxes paid related to net share settlement of equity awards	(90)	(117)
Paydown under Term Loan Facility	(4,000)	(3,000)
Debt issuance costs	(173)	0
Borrowings under Revolving Credit Facility	27,000	0
Repayments under Revolving Credit Facility	(20,000)	0
Net cash provided by (used in) financing activities	3,593	(1,757)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(414)	1,072
Net decrease in cash, cash equivalents and restricted cash	(5,004)	(16,710)
Cash, cash equivalents and restricted cash at beginning of period	70,392	91,202
Cash, cash equivalents and restricted cash at end of period	65,388	74,492
Supplemental non-cash disclosure:
Transfers from inventory to property and equipment, net	1,589	2,911
Transfers from inventory to prepaid and other assets	1,218	0
Lease liability to leasehold improvement	1,251	2,593
Other balance sheet items reclassed to property and equipment	288	0
Unpaid capitalized software costs to be sold at end of period	538	0
Unpaid purchase of property and equipment at end of period	$ 481	$ 212

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 2,537	$ (3,954)	$ (9,621)	$ (2,969)	$ (1,417)	$ (12,590)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

The Company and its Significant

The Company and its Significant Accounting Policies	6 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and its Significant Accounting Policies	Note 1. The Company and its Significant Accounting Policies The Company Accuray Incorporated (together with its subsidiaries, the “Company” or “Accuray”) designs, develops and sells advanced radiosurgery and radiation therapy systems for the treatment of tumors throughout the body. The Company is incorporated in Delaware and its headquarters are located in Madison, Wisconsin. The Company has primary offices in the United States, Switzerland, China, Hong Kong, and Japan, and conducts its business worldwide. Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”), pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures have been condensed or omitted pursuant to such rules and regulations. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair presentation of the periods presented. The results for the three and six months ended December 31, 2024 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2025, or for any other future interim period or fiscal year. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes for the fiscal year ended June 30, 2024 included in the Company’s Annual Report on Form 10-K filed with the SEC on September 19, 2024. Reclassifications Amounts in the prior year unaudited condensed financial statements and notes to unaudited condensed consolidated financial statements have been reclassified to conform to current year presentation. Risks and Uncertainties The Company is subject to risks and uncertainties caused, directly or indirectly, by events with significant geopolitical and macroeconomic impacts, including, but not limited to, inflation; actions taken to counter inflation, including high interest rates; foreign currency exchange rate fluctuations; uncertainty and volatility in the banking and financial services sector; tightening credit markets; geopolitical concerns, such as the Russia-Ukraine and Middle East conflicts and increasing tension between China and the U.S., including with respect to Taiwan; uncertainty caused by the China anti-corruption campaign and timing of the China stimulus program; the change in the U.S. presidential administration; recent executive orders to impose new tariffs on imports from Canada, Mexico and China and uncertainties regarding impact, retaliations and further escalation, including against other countries; and other factors that may emerge. The Company is also continuing to navigate supply chain and inflation challenges, and adverse foreign currency exchange rate fluctuations, all of which continues to be a significant headwind that affects the Company’s results of operations. The Company expects that the business of its customers and its own business will continue to be adversely impacted, directly or indirectly, by these macroeconomic and geopolitical issues. In addition, ongoing supply chain challenges and logistics costs, including difficulties in obtaining a sufficient supply of component materials and increased component costs, have adversely affected the Company's gross margins and net income (loss), and the Company’s current expectations are that gross margins and net income (loss) will continue to be adversely affected by increased material costs and freight and logistic expenses through fiscal year 2025. In addition, the Company expects inflation and the ongoing supply chain challenges and logistics costs to impact its cash from operations through fiscal year 2025. In addition, reduced budgets and lower capital deployment priority for radiotherapy equipment, along with longer customer installation timelines, in the United States have negatively impacted net revenue since fiscal year 2024, and the Company expects this will continue to have an impact through fiscal year 2026. The extent of the ongoing impact of these macroeconomic events on our business, our markets and on global economic activity, however, is uncertain and the related financial impact cannot be reasonably estimated with any certainty at this time. The Company’s past results may not be indicative of its future performance, and historical trends, including conversion of backlog to revenue, income (loss) from operations, net income (loss), net income (loss) per share and cash flows may differ materially. The Company continues to critically review its liquidity and anticipated capital requirements in light of the significant uncertainty created by geopolitical and macroeconomic conditions. Based on the Company’s cash and cash equivalents balance, available debt facilities, current business plan and revenue prospects, the Company believes that it will have sufficient cash resources and anticipated cash flows to fund its operations for at least the next 12 months. The Company, however, is unable to predict with certainty the impact of geopolitical and macroeconomic conditions, including its effect on the global supply chain, inflation and foreign currency exchange rates, will have on its ability to maintain compliance with the debt covenants contained in the credit agreement related to its Credit Facilities (the "Credit Agreement"), including financial covenants regarding the consolidated fixed charge coverage ratio and consolidated senior net leverage ratio. On September 12, 2024, the Company entered into the Fourth Amendment (the "Fourth Amendment") to the Credit Agreement to (i) change the requirements of certain financial maintenance covenants under the Credit Agreement for the fiscal quarter ending September 30, 2024, (ii) add a minimum liquidity covenant to the Credit Agreement and (iii) reduce the available revolving commitments available under the Credit Agreement to no more than $20.0 million. Failing to comply with the covenants to the Credit Agreement, as amended, could adversely affect the Company’s ability to finance its future operations or capital needs, withstand a future downturn in its business or the economy in general, engage in business activities, including future opportunities that may be in its interest, and plan for or react to market conditions or otherwise execute its business strategies. The Company’s ability to comply with the covenants and other terms governing the Credit Facilities will depend in part on its future operating performance. In addition, because substantially all of the Company’s assets are pledged as a security under the Credit Facilities, if the Company is not able to cure any default or repay outstanding borrowings, such assets are subject to the risk of foreclosure by the Company’s lenders. Failure to meet the covenant requirements in the future could cause the Company to be in default and the maturity of the related debt could be accelerated and become immediately payable. This may require the Company to obtain waivers or additional amendments to the Credit Agreement in order to maintain compliance and there can be no certainty that any such waiver or amendment will be available, or what the cost of such waiver or amendment, if obtained, would be. If the Company is unable to obtain necessary waivers or amendments and the debt under such credit facility is accelerated, the Company would be required to obtain replacement financing at prevailing market rates, which may not be favorable to the Company. There is no guarantee that the Company would be able to satisfy its obligations if any of its indebtedness is accelerated . Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures at the date of the financial statements. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company. A ctual results could differ materially from those estimates. Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies during the six months ended December 31, 2024, compared to the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended June 30, 2024 . Accounting Pronouncements - Adopted In November 2023, the FASB issued ASU 2023-07 to improve reportable segment disclosures. The ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The ASU also requires all annual disclosures to be disclosed in interim periods. The update will be effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 on July 1, 2024. The Company assessed the impact of this update and expects it will not have a material impact on its consolidated financial statement disclosure requirements. Accounting Pronouncements - Not Yet Effective In November 2024, the Financial Accounting Standards Board (“FASB”) issued accounting standard update (“ASU”) 2024-03 requiring additional disclosure of the nature of expenses included in the income statement. The new standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. The update is effective for fiscal years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. Early adoption is permitted. The Company is currently assessing the impact of adopting the updated provisions. In December 2023, the FASB issued ASU 2023-09 to improve the transparency and usefulness of income tax disclosures. The accounting standard expands disclosures to the entity’s income tax rate reconciliation table and requires cash taxes paid disaggregated by jurisdiction. These changes will be applied on a prospective basis. The update is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company plans to adopt ASU 2023-09 on July 1, 2025. The ASU requires retrospective application to all prior periods presented in the financial statements. The Company is currently assessing the timing and impact of adopting the updated provisions.

Revenue

Revenue	6 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Note 2. Revenue Contract Balances The timing of revenue recognition, billings, and cash collections results in trade receivables, unbilled receivables, and deferred revenues on the unaudited condensed consolidated balance sheets. The Company may offer longer or extended payment terms of more than one year for qualified customers in some circumstances. At times, revenue recognition occurs before the billing, resulting in an unbilled receivable, which represents a contract asset. The contract asset is a component of accounts receivable and other assets for the current and non-current portions, respectively. When the Company receives advances or deposits from customers before revenue is recognized, this results in a contract liability. It can take two or more years from the time of order to revenue recognition due to the Company’s long sales cycle. Changes in the contract assets and liabilities are as follows (dollars in thousands): Change December 31, June 30, $ % Contract Assets: Unbilled accounts receivable – current (1) $ 20,584 $ 19,131 1,453 8 % Interest receivable – current (2) 268 305 ( 37 ) ( 12 %) Long-term accounts receivable (3) 3,254 2,859 395 14 % Interest receivable – non-current (3) 352 432 ( 80 ) ( 19 %) Contract Liabilities: Customer advances 12,959 13,988 ( 1,029 ) ( 7 %) Deferred revenue – current 72,088 71,649 439 1 % Deferred revenue – non-current 24,616 24,114 502 2 % (1) Included in accounts receivable on the unaudited condensed consolidated balance sheets. (2) Included in prepaid expenses and other current assets on the unaudited condensed consolidated balance sheets. (3) Included in other assets on the unaudited condensed consolidated balance sheets. During the six months ended December 31, 2024, contract assets changed primarily due to changes in the timing of billings that occurred after revenues were recognized and changes in transactions with payment terms exceeding 12 months. During the six months ended December 31, 2024, contract liabilities changed due to changes in the timing of revenue recognition as a result of changes in shipping timing, modifications to the transaction price, reduced customer deposits for system sales, and for which the warranty was deferred. During the three and six months ended December 31, 2024, the Company recognized revenue of $ 16.7 million and $ 44.2 million, which was included in the deferred revenue balances at June 30, 2024. During the three and six months ended December 31, 2023, the Company recognized revenue of $ 21.2 million and $ 51.2 million, which was included in the deferred revenue balances at June 30, 2023. Remaining Performance Obligations Remaining performance obligations represent deferred revenue from open contracts for which performance has already started and the transaction price from executed contracts for which performance has not yet started. Service contracts in general are considered month-to-month contracts. As of December 31, 2024, total remaining performance obligations amounted to $ 886.7 million. Of this total amount, $ 60.3 million related to long-term warranty and non-cancellable post-warranty services, which is the estimated revenue expected to be recognized over the remaining service period and warranty period for systems that have been delivered (the time bands reflect management’s best estimate of when the Company will transfer control to the customer and may change based on timing of shipment, readiness of customers’ facilities for installation, installation requirements, and availability of products). The Company has elected the practical expedient to not disclose the unsatisfied performance obligations of contracts with an original expected duration of one year or less. The following table represents the Company's remaining performance obligations related to long-term warranty and non-cancellable post-warranty services as of December 31, 2024 (in thousands): Fiscal years of revenue recognition 2025 2026 2027 Thereafter Long-term warranty and non-cancellable post-warranty services $ 13,751 $ 24,892 $ 15,714 $ 5,925 For the remaining $ 826.4 million of performance obligations (i.e., open systems sales, upgrades, training and other miscellaneous items), the Company estimates 28 % to 36 % will be recognized in the next 12 months, and the remaining portion will be recognized thereafter. The Company’s historical experience indicates that some of its customers will cancel or renegotiate contracts as economic conditions change or when product offerings change during the long sales cycle. The Company anticipates a portion of its open contracts may never result in revenue recognition primarily due to the long sales cycle and factors outside of its control, including changes to its customers' needs or financial condition, changes in government or health insurance reimbursement policies, or changes to regulatory requirements. Based on historical experience and management's best estimate, approximately 26 % of the Company’s $ 781.9 million open system sales contracts as of December 31, 2024 may never result in revenue. Capitalized Contract Costs As of December 31, 2024 and June 30, 2024, the balance of capitalized costs to obtain a contract was $ 10.0 million and $ 9.6 million, respectively. The Company has classified the capitalized costs to obtain a contract as a component of prepaid expenses and other current assets and other assets with respect to the current and non-current portions of capitalized costs, respectively, on the unaudited condensed consolidated balance sheets. Expenses related to capitalized costs to obtain a contract consisted of the following (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Amortization of capitalized contract costs $ 840 $ 771 $ 1,620 $ 1,643 Impairment loss on capitalized contracts 81 45 181 76

Supplemental Financial Informat

Supplemental Financial Information	6 Months Ended
	Dec. 31, 2024
Supplemental Financial Information Disclosure [Abstract]
Supplemental Financial Information	Note 3. Supplemental Financial Information Balance Sheet Components Financing receivables A financing receivable is a contractual right to receive money, on demand or on fixed or determinable dates, that is recognized as an asset on the Company’s balance sheets. The Company’s financing receivables, consisting of its accounts receivable with contractual maturities of more than one year are included in other assets on the unaudited condensed consolidated balance sheets. The Company evaluates the credit quality of a customer at contract inception and monitors credit quality over the term of the underlying transactions. The Company performs a credit analysis for all new orders and reviews payment history, current order backlog, financial performance of the customers and other variables that augment or mitigate the inherent credit risk of a particular transaction. Such variables include the underlying value and liquidity of the collateral, the essential use of the equipment, the contract term and the inclusion of credit enhancements, such as guarantees, letters of credit or security deposits. The Company classifies accounts as high risk when it considers the financing receivable to be impaired or when management believes there is a significant near-term risk of non‑payment. The Company performs an assessment each quarter of the allowance for credit losses related to its financing receivables. A summary of the Company’s financing receivables is presented as follows (in thousands): December 31, June 30, Financing receivables $ 3,481 $ 2,871 Allowance for credit losses — — Total, net $ 3,481 $ 2,871 Reported as: Current $ 1,236 $ 1,340 Non-current 2,245 1,531 Total, net $ 3,481 $ 2,871 Inventories, net Inventories consisted of the following (in thousands): December 31, June 30, Raw materials $ 61,007 $ 57,699 Work-in-process 13,949 13,629 Finished goods 73,870 66,996 Inventories, net $ 148,826 $ 138,324 The Company's inventories on the unaudited condensed consolidated balance sheets are net of reserves. Prepaid and Other Current Assets Prepaid and other current assets consisted of the following (in thousands): December 31, June 30, Value added tax receivables $ 6,607 $ 4,026 Prepaid commissions 4,894 5,288 Capitalized contract costs 1,835 1,876 Income tax receivable 953 368 Dividend receivable from JV — 2,460 Other prepaid assets 6,572 5,018 Other current assets 4,579 3,970 Total prepaid and other current assets $ 25,440 $ 23,006 Property and equipment, net Property and equipment, net, consisted of the following (in thousands): December 31, June 30, Machinery and equipment $ 46,596 $ 45,539 Leasehold improvements 31,652 30,994 Software 11,333 11,308 Computer and office equipment 6,430 6,347 Furniture and fixtures 2,102 1,719 Construction in progress 4,121 2,550 102,234 98,457 Less: Accumulated depreciation ( 75,353 ) ( 73,683 ) Property and equipment, net $ 26,881 $ 24,774 Depreciation expense related to property and equipment was $ 1.5 million and $ 3.0 million during the three and six months ended December 31, 2024, and $ 1.5 million and $ 2.7 million during the three and six months ended December 31, 2023, respectively. Goodwill Activity related to goodwill consisted of the following (in thousands): December 31, June 30, Balance at the beginning of the period $ 57,672 $ 57,681 Currency translation ( 29 ) ( 9 ) Balance at the end of the period $ 57,643 $ 57,672 The Company performed its annual goodwill impairment test in the quarter ended December 31, 2024, and determined that there was no impairment to goodwill. The Company will continue to monitor its recorded goodwill for indicators of impairment every fiscal quarter. Other Assets Other assets consisted of the following (in thousands): December 31, June 30, Capitalized contract costs $ 8,195 $ 7,768 Long-term accounts receivable 3,254 2,859 Capitalized software costs 6,976 4,683 Purchased intangible assets, net 37 59 Deferred tax asset 662 659 Other long-term assets 2,919 1,981 Total other assets 22,043 18,009 The Company did no t identify any triggering events that would indicate a potential impairment of its definite-lived intangible and long-lived assets as of December 31, 2024. There was no amortization expense or amounts written down to net realizable value for the capitalized software costs to be sold during the three and six months ended December 31, 2024 and 2023. Other Accrued Liabilities Other accrued liabilities consisted of the following (in thousands): December 31, June 30, Value added tax liabilities $ 8,016 $ 5,048 Commissions due to third parties 2,283 5,202 Refunds due to customers 3,876 6,079 Accrued consulting 1,730 1,238 Accrued royalties 2,974 2,939 Interest payable 448 485 Income tax payable 1,014 1,206 Other liabilities 7,646 6,311 Total other accrued liabilities $ 27,987 $ 28,508 Treasury Stock The Company records treasury stock at cost. Treasury stock is comprised of shares of common stock purchased by the Company in the secondary market. As of December 31, 2024 and June 30, 2024 , the Company had 3.1 million shares of treasury stock valued at $ 14.1 million. Treasury stock is included in Additional paid-in capital on the unaudited condensed consolidated balance sheets. Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss are excluded from earnings and reported as a component of stockholders’ equity. The foreign currency translation adjustment results from those subsidiaries not using the U.S. Dollar as their functional currency since the majority of their economic activities are primarily denominated in their applicable local currency. Accordingly, all assets and liabilities related to these operations are translated to the U.S. Dollar at the current exchange rates at the end of each period. Revenues and expenses are translated at average exchange rates in effect during the period. The components of accumulated other comprehensive income (loss) in the stockholders' equity section of the Company’s unaudited condensed consolidated balance sheets are as follows (in thousands): December 31, June 30, Cumulative foreign currency translation adjustment $ ( 5,956 ) $ ( 4,777 ) Defined benefit pension obligation 555 555 Accumulated other comprehensive loss $ ( 5,401 ) $ ( 4,222 ) Statements of Operations Other income (expense), net, consisted of the following (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Interest income $ 278 $ 267 $ 581 $ 653 Foreign currency exchange gain (loss) 177 ( 1,278 ) 2,351 ( 2,234 ) Costs for hedging activities $ ( 626 ) $ ( 403 ) $ ( 1,196 ) $ ( 688 ) Other, net ( 25 ) ( 16 ) ( 85 ) 80 Total other income (expense), net $ ( 196 ) $ ( 1,430 ) $ 1,651 $ ( 2,189 )

Leases

Leases	6 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Note 4. Leases The Company has operating leases for corporate offices and warehouse facilities worldwide. Additionally, the Company leases cars and copy machines that are considered operating leases. Some of the Company’s leases are non-cancellable operating lease agreements with various expiration dates through June 2035. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore, are not factored into the determination of lease payments. The following table provides information related to the Company’s operating leases (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Operating lease costs (1) $ 2,189 $ 2,456 $ 4,420 $ 5,010 Short-term operating lease costs 80 72 120 133 Cash paid for amounts included in the measurement of lease liabilities 2,062 2,536 4,092 5,025 (1) Excludes e xpenses related to short-term lease operating costs. Operating lease right-of-use assets and operating lease liabilities consisted of the following (in thousands): December 31, June 30, Operating lease right-of-use assets Balance at the beginning of period $ 33,773 $ 25,853 Lease assets added 1,028 14,389 Amortization for the period ( 3,085 ) ( 6,469 ) Balance at the end of period $ 31,716 $ 33,773 Operating lease liabilities Balance at the beginning of period $ 38,591 $ 27,753 Lease liabilities added 2,086 16,775 Repayment and interest accretion ( 2,700 ) ( 5,937 ) Balance at the end of period $ 37,977 $ 38,591 Current portion of operating lease liabilities $ 7,518 $ 6,218 Non-current portion of operating lease liabilities 30,459 32,373 Maturities of operating lease liabilities as of December 31, 2024 are presented in the table below (dollars in thousands): Amount 2025 (remaining six months) $ 3,648 2026 7,627 2027 7,600 2028 6,451 2029 4,585 Thereafter 24,649 Total operating lease payments 54,560 Less: imputed interest ( 16,583 ) Present value of operating lease liabilities $ 37,977 Weighted average remaining lease term (in years) 7.9 Weighted average discount rate 10.4 %

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 5. Derivative Financial Instruments The Company utilizes foreign currency forward contracts with reputable financial institutions to manage its exposure of fluctuations in foreign currency exchange rates on certain intercompany balances and foreign currency denominated cash, customer receivables and liabilities. The Company does not use derivative financial instruments for speculative or trading purposes. These forward contracts are not designated as hedging instruments for accounting purposes. Principal hedged currencies primarily include the Japanese Yen, Swiss Franc, and Euro. The periods of these forward contracts range up to approximately three months and the notional amounts are intended to be consistent with changes in the underlying exposures. The notional amount of the Company's outstanding forward currency exchange contracts consisted of the following (in thousands): December 31, June 30, Swiss Franc $ 23,850 $ 59,392 Japanese Yen 10,353 7,762 Euro 18,899 2,755 Indian Rupee 12,209 8,916 Chinese Yuan 10,303 5,156 Korean Won 2,084 1,735 Canadian Dollar 1,199 1,510 British Pound 718 730 Total outstanding forward currency exchange contracts $ 79,615 $ 87,956 Gains and losses on the Company's foreign currency forward contracts are recorded in Other income (expense), net, o n the Company's unaudited condensed consolidated statements of operations. The following table provides information about the gain or loss associated with the Company’s derivative financial instruments not designated as hedging instruments (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Foreign currency exchange gain (loss) on forward contracts $ ( 618 ) $ 959 $ 818 $ 141

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 6. Fair Value Measurements Fair value is an exit price representing the amount that would be received to sell an asset or paid to transfer a liability, in the principal or most advantageous market, for the asset or liability, in an orderly transaction between market participants on the measurement date. The fair value hierarchy contains three levels of inputs that may be used to measure fair value, as follows: • Level 1— Unadjusted quoted prices that are available in active markets for the identical assets or liabilities at the measurement date. • Level 2— Other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets in non-active markets; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by other observable market data. • Level 3— Unobservable inputs that cannot be corroborated by observable market data and require the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions. Assets and Liabilities That Are Measured at Fair Value As of December 31, 2024, the Company had open currency forward contracts to purchase or sell foreign currencies with a stated or notional value of $ 79.6 million. The fair value of the underlying currency, based upon the December 31, 2024 exchange rate, was $ 79.5 million, which it considers to be a Level 2 fair value measurement. As of June 30, 2024, the Company had open currency forward contracts to purchase or sell foreign currencies with a stated or notional value of $ 88.0 million. The fair value of the underlying currency, based upon the June 30, 2024 exchange rate, was $ 87.7 million, which it considers to be a Level 2 fair value measurement. The Company’s convertible debt is measured on a recurring basis using Level 2 based upon observable inputs. The Company's Revolving Credit Facility and Term Loan Facility (as defined in Note 8) collectively (the “Credit Facilities”) reflect the bank quoted market rates, which the Company considers to be a Level 2 fair value measurement. The Company believes that the carrying value of the Credit Facilities approximates its estimated fair value based on the effective interest rate, compared to the current market rate available to the Company at quarter-end. The table below summarizes the carrying value and estimated fair value of the 3.75 % Convertible Senior Notes due 2026, Term Loan Facility, and the Revolving Credit Facility (in thousands): December 31, June 30, Carrying Fair Carrying Fair 3.75 % Convertible Notes due 2026 $ 99,091 $ 91,573 $ 98,782 $ 85,762 Term Loan Facility 59,422 59,422 63,374 63,374 Revolving Credit Facility 17,000 17,000 10,000 10,000 Total $ 175,513 $ 167,995 $ 172,156 $ 159,136

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7. Commitments and Contingencies Litigation From time to time, the Company is involved in legal proceedings, including claims, investigations, and inquiries, arising in the ordinary course of its business. The Company records a provision for a loss when it believes that it is both probable that a loss has been incurred and the amount can be reasonably estimated. To the extent there is a reasonable possibility that a loss exceeding amounts already recognized may be incurred and the amount of such additional loss would be material, we will either disclose the estimated additional loss or state that such an estimate cannot be made. Currently, management believes the Company does not have any probable and reasonably estimable material losses related to any current legal proceedings and claims. Although occasional adverse decisions or settlements may occur, management does not believe that an adverse determination with respect to any of these claims would individually, or in the aggregate, materially and adversely affect the Company’s financial condition or operating results. Litigation is inherently unpredictable and is subject to significant uncertainties, some of which are beyond the Company’s control. Should any of these estimates and assumptions change or prove to have been incorrect, the Company could incur significant charges related to legal matters that could have a material impact on its results of operations, financial position and cash flows. Indemnities Under the terms of the Company’s software license agreements with its customers, the Company agrees that in the event the software sold infringes upon any patent, copyright, trademark, or any other proprietary right of a third‑party, it will indemnify its customer licensees against any loss, expense, or liability from any damages that may be awarded against its customer. The Company includes this infringement indemnification in all of its software license agreements and selected managed services arrangements. In the event the customer cannot use the software or service due to infringement and the Company cannot obtain the right to use, replace or modify the license or service in a commercially feasible manner so that it no longer infringes, then the Company may terminate the license and provide the customer a refund of the fees paid by the customer for the infringing license or service. The Company has not recorded any liability associated with this indemnification, as it is not aware of any pending or threatened actions that represent probable losses as of December 31, 2024. The Company enters into standard indemnification agreements with its landlords and all superior mortgagees and their respective directors, officers, agents, and employees in the ordinary course of business. Pursuant to these agreements, the Company will indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally the landlords, in connection with any loss, accident, injury, or damage by any third‑party with respect to the leased facilities. The term of these indemnification agreements is from the commencement of the lease agreements until termination of the lease agreements. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, historically, the Company has not incurred claims or costs to defend lawsuits or settle claims related to these indemnification agreements. The Company has not recorded any liability associated with its indemnification agreements as it is not aware of any pending or threatened actions that represent probable losses as of December 31, 2024. Guarantees As of December 31, 2024 and June 30, 2024, the Company had various bank guarantees totaling $ 1.3 million and $ 1.1 million, respectively, primarily related to bidding processes with customers. Royalty Agreement The Company enters into software license agreements with third parties that require royalty payments for each license used. In connection with such agreements, the Company records royalty costs in cost of revenue or deferred cost of revenue. The Company had approximately $ 3.0 million and $ 2.9 million in accrued royalty payments as of December 31, 2024, and June 30, 2024, respectively, related to royalty agreements. The following table provides information about the Company’s royalty expense and royalty payments (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Royalty expense $ 552 $ 428 $ 795 $ 937 Royalty payments 57 794 759 $ 817

Debt

Debt	6 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Note 8. Debt The Company's outstanding debt as of December 31, 2024 and June 30, 2024, is as follows (in thousands): December 31, 2024 June 30, 2024 Principal Amount Unamortized Debt Costs Net Carrying Amount Principal Amount Unamortized Debt Costs Net Carrying Amount 3.75% Convertible Senior Notes due 2026 $ 100,000 $ ( 909 ) $ 99,091 $ 100,000 $ ( 1,218 ) $ 98,782 Term Loan Facility 60,000 ( 578 ) 59,422 64,000 ( 626 ) 63,374 Revolving Credit Facility 17,000 — 17,000 10,000 — 10,000 Total debt $ 177,000 $ ( 1,487 ) $ 175,513 $ 174,000 $ ( 1,844 ) $ 172,156 Reported as: Short-term debt $ 7,560 $ 7,756 Long-term debt 167,953 164,400 Total debt $ 175,513 $ 172,156 3.75% Convertible Senior Notes due June 2026 In May 2021, the Company issued $ 100.0 million aggregate principal amount of its 3.75 % Convertible Senior Notes due June 2026 (the “ 3.75 % Convertible Notes due 2026”) under an indenture agreement between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. As of December 31, 2024 , the if-converted value of its 3.75 % Convertible Notes due 2026 did not exceed the outstanding principal amount. Credit Facilities The Company has a $ 40.0 million revolving credit facility (the “Revolving Credit Facility”) and a five-year $ 80.0 million term loan ( the “Term Loan Facility ” and together with the Revolving Credit Facility, the “Credit Facilities”). Interest on the borrowings under the Credit Facilities is payable in arrears on the applicable interest payment date, at an annual interest rate of reserve-adjusted, 90-day term Secured Overnight Financing Rate ( subject to a 0.50 % floor) plus a margin between 2.50 % and 3.25 % margin, determined by the Consolidated Senior Net Leverage Ratio (as defined in the Credit Agreement). On September 12, 2024, the Company entered into the Fourth Amendment to (i) change the requirements of certain financial maintenance covenants under the Credit Agreement for the fiscal quarter ending September 30, 2024, (ii) add a minimum liquidity covenant to the Credit Agreement and (iii) reduce the available revolving commitments available under the Credit Agreement to no more than $ 20.0 million through end of the agreement. The Credit Agreement requires the Company to pay the lenders an unused commitment fee equal to the average unused portion of the Revolving Credit Facilit y. The Company pays a rate of 0.25 % to 0.40 % per annum of the average unused portion of the Revolving Credit Facility, determined by the Consolidated Senior Net Leverage Ratio (as defined in the Credit Agreement). If all or a portion of the loans under the Term Loan Facility are prepaid, then the Company will be required to pay a fee equal to 1 % of the aggregate amount of the loans so prepaid, subject to certain exceptions. The Credit Agreement contains restrictions and covenants applicable to the Company and its subsidiaries. Among other requirements, the Company may not permit the Fixed Charge Coverage Ratio (as defined in the Credit Agreement) to be less than a certain specified ratio for each fiscal quarter during the term of the Credit Agreement or the consolidated senior net leverage ratio to be greater than a certain specified ratio for each fiscal quarter during the term of the Credit Agreement. A summary of interest expense on the 3.75% Convertible Notes due 2026, the Revolving Credit Facility, and the Term Loan Facility is as follows (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Interest expense related to contractual interest coupon $ 2,495 $ 2,653 $ 5,120 $ 5,322 Interest expense related to amortization of debt issuance costs 275 237 529 475 Total $ 2,770 $ 2,890 $ 5,649 $ 5,797

Stock Incentive Plan and Employ

Stock Incentive Plan and Employee Stock Purchase Plan	6 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock Incentive Plan and Employee Stock Purchase Plan	Note 9. Stock Incentive Plan and Employee Stock Purchase Plan The following table presents details of share-based compensation expenses, by functional line item, noted within the Company's operating expenses (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Cost of revenue - products $ 186 $ 233 $ 403 $ 466 Cost of revenue - services 186 157 340 160 Research and development 343 280 725 681 Selling and marketing 553 437 923 845 General and administrative 1,016 1,207 2,246 2,554 Total share-based compensation $ 2,284 $ 2,314 $ 4,637 $ 4,706 In November 2024, the Company’s stockholders approved to increase the number of shares of common stock available for issuance by 5.0 million shares under its Amended and Restated 2016 Equity Incentive Plan, and to increase the number of shares of common stock available for issuance by 2.5 million shares under its Amended and Restated Accuray Incorporated 2007 Employee Stock Purchase Plan.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	6 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Note 10. Net Income (Loss) Per Common Share Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period. Dilutive potential common shares include outstanding share awards. A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per common share is as follows (in thousands, except for per share amounts): Three Months Ended Six Months Ended 2024 2023 2024 2023 Numerator: Net income (loss) $ 2,537 $ ( 9,621 ) $ ( 1,417 ) $ ( 12,590 ) Denominator: Weighted average shares outstanding - basic 101,405 97,776 100,796 97,165 Dilutive effect of potential common shares 2,341 — — — Weighted average shares outstanding - diluted 103,746 97,776 100,796 97,165 Basic net income (loss) per share $ 0.03 $ ( 0.10 ) $ ( 0.01 ) $ ( 0.13 ) Diluted net income (loss) per share $ 0.02 $ ( 0.10 ) $ ( 0.01 ) $ ( 0.13 ) Anti-dilutive share-based awards, excluded 4,225 14,601 12,923 14,601 The potentially dilutive shares of the Company’s common stock are excluded from the computation of diluted net income (loss) per share when their effect would have been anti‑dilutive. Additionally, the outstanding 3.75 % Convertible Notes due 2026 are included in the calculation of diluted net income (loss) per share only if their inclusion is dilutive for periods during which the 3.75 % Convertible Notes due 2026 were outstanding. The shares of common stock issuable upon conversion of the outstanding principal amount of the 3.75 % Convertible Notes due 2026 as of three and six months ended December 31, 2024 and 2023 totaled approximately 17.1 million shares and were not included in the basic and diluted net income (loss) per common share as the effect of adding the shares were anti-dilutive.

Segment Information

Segment Information	6 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	Note 11. Segment Information The Company has one operating and reporting segment (oncology systems group), which develops, manufactures and markets proprietary medical devices used in radiation therapy for the treatment of cancer patients. The Company’s Chief Executive Officer, its Chief Operating Decision Maker, reviews financial information presented on a consolidated basis for purposes of making operating decisions and assessing financial performance. The Company does not assess the performance of its individual product lines on measures of profit or loss, or asset-based metrics, therefore, the information below is presented only for total net revenues and long-lived assets by geographic area. The Company reports its customer revenues in five geographic regions: the Americas, EIMEA, Japan, China and Asia Pacific. The Americas region primarily includes the United States, Canada, and Latin America. The EIMEA region includes Europe, India, the Middle East and Africa. The Asia Pacific region consists of Asia (excluding Japan and China), Australia and New Zealand. Disaggregation of Revenues The Company disaggregates its revenues from contracts by geographic region, as the Company believes this best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by economic factors. Revenues attributed to a country or region are based on the shipping address of the Company’s customers. Additionally, the Company typically recognizes revenue at a point in time for product revenue and recognizes revenue over time for service revenue. The following summarizes net revenue by geographic region (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Americas $ 17,135 $ 23,742 $ 38,005 $ 44,299 EIMEA 38,924 43,800 64,818 83,333 China 35,974 23,375 69,950 49,590 Japan 14,983 10,648 24,848 23,240 Asia Pacific 9,158 5,673 20,098 10,668 Total $ 116,174 $ 107,238 $ 217,719 $ 211,130 Disaggregation of Long-Lived Assets Information regarding geographic areas in which the Company has long-lived assets, which consists of property, plant and equipment, net, and operating lease right-of-use assets are as follows (in thousands): December 31, June 30, 2024 2024 Americas $ 47,050 $ 46,570 EIMEA 8,340 9,327 China 1,555 1,211 Japan 1,089 1,304 Asia Pacific 563 135 Total $ 58,597 $ 58,547 The long-lived assets in the Americas region are located in the United States as of December 31, 2024 and June 30, 2024.

Joint Venture

Joint Venture	6 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Joint Venture	Note 12. Joint Venture In January 2019, the Company’s wholly-owned subsidiary, Accuray Asia Limited (“Accuray Asia”), entered into an agreement with CNNC High Energy Equipment (Tianjin) Co., Ltd. (the “CIRC Subsidiary”), a wholly-owned subsidiary of China Isotope & Radiation Corporation, to form a joint venture, CNNC Accuray (Tianjin) Medical Technology Co. Ltd. (the “JV”), to manufacture and sell radiation oncology systems in China. As of December 31, 2024 , the Company owned a 49 % interest in the JV, which is reported as an investment in joint venture on the Company’s unaudited condensed consolidated balance sheets. The Company applies the equity method of accounting to its ownership interest in the JV as the Company has the ability to exercise significant influence over the JV but lacks controlling financial interest and is not the primary beneficiary. The Company recognizes the 49 % proportionate share of the JV income (loss) on a one-quarter lag due to the timing of the availability of the JV’s financial records. The Company recognizes revenue on sales to the JV in the current period and defers a portion of gross profit to the extent goods sold have not been sold through by the JV to an end customer at the end of such reporting period. With the receipt of the necessary permits and licenses to operate, the JV has begun to manufacture and sell a locally branded “Made in China” radiotherapy device, the Tomo C radiation therapy system, in the Class B license category. The following table shows the reconciliation between the carrying value of the Company's investment in the JV and its proportional share of the underlying equity in net assets of the JV (in thousands): December 31, June 30, Carrying value of investment in joint venture $ 12,837 $ 9,826 Deferred intra-entity gross profit (1) 8,942 9,835 Equity method goodwill ( 4,720 ) ( 4,720 ) Proportional share of equity investment in joint venture $ 17,059 $ 14,941 (1) As of December 31, 2024, $ 2.9 million of the deferred intra-entity gross profit balance was related to the Tomo C radiation therapy system as compared to $ 4.2 million as of June 30, 2024. As of December 31, 2024, the Company’s carrying value of the investment in the JV for the Company's proportional share of the JV's currency translation adjustment was not material. As of June 30, 2024, the Co mpany’s carrying value of the investment in the JV was decreased for the Company's proportional share of the JV's currency translation adjustment by $ 0.6 million. In June 2024, the JV declared a $ 2.5 million dividend to the Company which was paid in July 2024. Summarized financial information of the JV is as follows (in thousands): Three Months Ended Six Months Ended Statement of Operations Data: 2024 2023 2024 2023 Revenue $ 33,582 $ 22,457 $ 55,416 $ 54,312 Gross profit 6,591 2,800 11,441 8,613 Net income (loss) 3,273 ( 872 ) 3,125 7 Net income (loss) attributable to the Company 1,604 ( 427 ) 1,532 4 Summarized Balance Sheet Data: As of As of Assets Current assets $ 140,059 $ 94,504 Non-current assets 15,005 13,576 Total assets $ 155,064 $ 108,080 Liabilities and Stockholders' Equity Current liabilities $ 118,754 $ 76,338 Non-current liabilities 1,497 174 Stockholders' equity 34,813 31,568 Total liabilities and stockholders' equity $ 155,064 $ 108,080 The following table shows the activity of the Company’s net revenue recognized from intra-entity gross profit from sales (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Deferred intra-entity gross profit recognized on sales to the JV $ 11,745 $ 4,728 $ 14,459 $ 6,313 Deferred intra-entity gross profit on sales to the JV ( 7,232 ) ( 2,858 ) ( 13,565 ) ( 6,019 ) Net recognized gross profit on sales to the JV (1) $ 4,513 $ 1,870 $ 894 $ 294 (1) Profit earned by the Company from the JV is eliminated through cost of goods sold until it is realized; such profits would generally be considered realized when the inventory has been sold through to third parties. For the three and six months ended December 31, 2024, $ 3.3 million and $ 1.3 million of the net recognized gross profit on sales to the JV were related to the Tomo C radiation therapy system as compared to $ 1.7 million and $ 2.2 million of the net deferred gross prof it on sales to the JV for the three and six months ended December 31, 2023 .

Income Tax

Income Tax	6 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Tax	Note 13. Income Tax The following summarizes the provision for income taxes (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Provision for income taxes $ 695 $ 878 $ 1,320 $ 2,810 On a quarterly basis, the Company provides for income taxes based upon an estimated annual effective income tax rate. The Company recognized income tax expense, which were primarily related to foreign taxes for the periods presented. Starting in fiscal year 2019, certain income earned by controlling foreign corporations (“CFCs”) must be included in the gross income of the CFC’s U.S. shareholder. The income required to be included in gross income is referred to as global intangible low tax income (“GILTI”) and is defined under IRC Section 951A as the excess of the shareholder’s net CFC tested income over the net deemed tangible income return. The GILTI inclusion amount is expected to be fully absorbed by net operating losses carryforward and is not expected to cause the Company to be in a U.S. taxable income position for fiscal year 2025. There is no material impact on the Company’s unaudited condensed consolidated financial statements for fiscal year 2025 relating to the change in U.S. tax law that requires capitalization and amortization of research and experimental expenditures incurred after July 1, 2022 which has been fully offset by pre-2018 net operating loss carryforwards. The Company will continue to evaluate the impact of this tax law change in future periods. As of December 31, 2024, the Company’s gross unrecognized tax benefits w ere $ 22.0 million, of which $ 21.6 millio n wou ld not affect income tax expense before consideration of any valuation allowance. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months . Interest and penalties accrued on unrecognized tax benefits are recorded as a component of income tax expense.

The Company and its Significa_2

The Company and its Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2024
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”), pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures have been condensed or omitted pursuant to such rules and regulations. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair presentation of the periods presented. The results for the three and six months ended December 31, 2024 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2025, or for any other future interim period or fiscal year. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes for the fiscal year ended June 30, 2024 included in the Company’s Annual Report on Form 10-K filed with the SEC on September 19, 2024.
Reclassifications	Reclassifications Amounts in the prior year unaudited condensed financial statements and notes to unaudited condensed consolidated financial statements have been reclassified to conform to current year presentation.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to risks and uncertainties caused, directly or indirectly, by events with significant geopolitical and macroeconomic impacts, including, but not limited to, inflation; actions taken to counter inflation, including high interest rates; foreign currency exchange rate fluctuations; uncertainty and volatility in the banking and financial services sector; tightening credit markets; geopolitical concerns, such as the Russia-Ukraine and Middle East conflicts and increasing tension between China and the U.S., including with respect to Taiwan; uncertainty caused by the China anti-corruption campaign and timing of the China stimulus program; the change in the U.S. presidential administration; recent executive orders to impose new tariffs on imports from Canada, Mexico and China and uncertainties regarding impact, retaliations and further escalation, including against other countries; and other factors that may emerge. The Company is also continuing to navigate supply chain and inflation challenges, and adverse foreign currency exchange rate fluctuations, all of which continues to be a significant headwind that affects the Company’s results of operations. The Company expects that the business of its customers and its own business will continue to be adversely impacted, directly or indirectly, by these macroeconomic and geopolitical issues. In addition, ongoing supply chain challenges and logistics costs, including difficulties in obtaining a sufficient supply of component materials and increased component costs, have adversely affected the Company's gross margins and net income (loss), and the Company’s current expectations are that gross margins and net income (loss) will continue to be adversely affected by increased material costs and freight and logistic expenses through fiscal year 2025. In addition, the Company expects inflation and the ongoing supply chain challenges and logistics costs to impact its cash from operations through fiscal year 2025. In addition, reduced budgets and lower capital deployment priority for radiotherapy equipment, along with longer customer installation timelines, in the United States have negatively impacted net revenue since fiscal year 2024, and the Company expects this will continue to have an impact through fiscal year 2026. The extent of the ongoing impact of these macroeconomic events on our business, our markets and on global economic activity, however, is uncertain and the related financial impact cannot be reasonably estimated with any certainty at this time. The Company’s past results may not be indicative of its future performance, and historical trends, including conversion of backlog to revenue, income (loss) from operations, net income (loss), net income (loss) per share and cash flows may differ materially. The Company continues to critically review its liquidity and anticipated capital requirements in light of the significant uncertainty created by geopolitical and macroeconomic conditions. Based on the Company’s cash and cash equivalents balance, available debt facilities, current business plan and revenue prospects, the Company believes that it will have sufficient cash resources and anticipated cash flows to fund its operations for at least the next 12 months. The Company, however, is unable to predict with certainty the impact of geopolitical and macroeconomic conditions, including its effect on the global supply chain, inflation and foreign currency exchange rates, will have on its ability to maintain compliance with the debt covenants contained in the credit agreement related to its Credit Facilities (the "Credit Agreement"), including financial covenants regarding the consolidated fixed charge coverage ratio and consolidated senior net leverage ratio. On September 12, 2024, the Company entered into the Fourth Amendment (the "Fourth Amendment") to the Credit Agreement to (i) change the requirements of certain financial maintenance covenants under the Credit Agreement for the fiscal quarter ending September 30, 2024, (ii) add a minimum liquidity covenant to the Credit Agreement and (iii) reduce the available revolving commitments available under the Credit Agreement to no more than $20.0 million. Failing to comply with the covenants to the Credit Agreement, as amended, could adversely affect the Company’s ability to finance its future operations or capital needs, withstand a future downturn in its business or the economy in general, engage in business activities, including future opportunities that may be in its interest, and plan for or react to market conditions or otherwise execute its business strategies. The Company’s ability to comply with the covenants and other terms governing the Credit Facilities will depend in part on its future operating performance. In addition, because substantially all of the Company’s assets are pledged as a security under the Credit Facilities, if the Company is not able to cure any default or repay outstanding borrowings, such assets are subject to the risk of foreclosure by the Company’s lenders. Failure to meet the covenant requirements in the future could cause the Company to be in default and the maturity of the related debt could be accelerated and become immediately payable. This may require the Company to obtain waivers or additional amendments to the Credit Agreement in order to maintain compliance and there can be no certainty that any such waiver or amendment will be available, or what the cost of such waiver or amendment, if obtained, would be. If the Company is unable to obtain necessary waivers or amendments and the debt under such credit facility is accelerated, the Company would be required to obtain replacement financing at prevailing market rates, which may not be favorable to the Company. There is no guarantee that the Company would be able to satisfy its obligations if any of its indebtedness is accelerated .
Use of Estimates	Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures at the date of the financial statements. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company. A ctual results could differ materially from those estimates.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies during the six months ended December 31, 2024, compared to the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended June 30, 2024 .
Accounting Pronouncements	Accounting Pronouncements - Adopted In November 2023, the FASB issued ASU 2023-07 to improve reportable segment disclosures. The ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The ASU also requires all annual disclosures to be disclosed in interim periods. The update will be effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 on July 1, 2024. The Company assessed the impact of this update and expects it will not have a material impact on its consolidated financial statement disclosure requirements.
Accounting Pronouncements Not Yet Effective
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accounting Pronouncements	Accounting Pronouncements - Not Yet Effective In November 2024, the Financial Accounting Standards Board (“FASB”) issued accounting standard update (“ASU”) 2024-03 requiring additional disclosure of the nature of expenses included in the income statement. The new standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. The update is effective for fiscal years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. Early adoption is permitted. The Company is currently assessing the impact of adopting the updated provisions. In December 2023, the FASB issued ASU 2023-09 to improve the transparency and usefulness of income tax disclosures. The accounting standard expands disclosures to the entity’s income tax rate reconciliation table and requires cash taxes paid disaggregated by jurisdiction. These changes will be applied on a prospective basis. The update is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company plans to adopt ASU 2023-09 on July 1, 2025. The ASU requires retrospective application to all prior periods presented in the financial statements. The Company is currently assessing the timing and impact of adopting the updated provisions.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Contract with Customer, Asset and Liability	Changes in the contract assets and liabilities are as follows (dollars in thousands): Change December 31, June 30, $ % Contract Assets: Unbilled accounts receivable – current (1) $ 20,584 $ 19,131 1,453 8 % Interest receivable – current (2) 268 305 ( 37 ) ( 12 %) Long-term accounts receivable (3) 3,254 2,859 395 14 % Interest receivable – non-current (3) 352 432 ( 80 ) ( 19 %) Contract Liabilities: Customer advances 12,959 13,988 ( 1,029 ) ( 7 %) Deferred revenue – current 72,088 71,649 439 1 % Deferred revenue – non-current 24,616 24,114 502 2 % (1) Included in accounts receivable on the unaudited condensed consolidated balance sheets. (2) Included in prepaid expenses and other current assets on the unaudited condensed consolidated balance sheets. (3) Included in other assets on the unaudited condensed consolidated balance sheets.
Schedule of Remaining Performance Obligations related to Warranty	The following table represents the Company's remaining performance obligations related to long-term warranty and non-cancellable post-warranty services as of December 31, 2024 (in thousands): Fiscal years of revenue recognition 2025 2026 2027 Thereafter Long-term warranty and non-cancellable post-warranty services $ 13,751 $ 24,892 $ 15,714 $ 5,925
Summary of Expenses Related to Capitalized Costs	Expenses related to capitalized costs to obtain a contract consisted of the following (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Amortization of capitalized contract costs $ 840 $ 771 $ 1,620 $ 1,643 Impairment loss on capitalized contracts 81 45 181 76

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	6 Months Ended
	Dec. 31, 2024
Supplemental Financial Information Disclosure [Abstract]
Schedule of Financing Receivables	A summary of the Company’s financing receivables is presented as follows (in thousands): December 31, June 30, Financing receivables $ 3,481 $ 2,871 Allowance for credit losses — — Total, net $ 3,481 $ 2,871 Reported as: Current $ 1,236 $ 1,340 Non-current 2,245 1,531 Total, net $ 3,481 $ 2,871
Schedule of Inventories	Inventories consisted of the following (in thousands): December 31, June 30, Raw materials $ 61,007 $ 57,699 Work-in-process 13,949 13,629 Finished goods 73,870 66,996 Inventories, net $ 148,826 $ 138,324
Schedule of Prepaid and Other Current Assets	Prepaid and other current assets consisted of the following (in thousands): December 31, June 30, Value added tax receivables $ 6,607 $ 4,026 Prepaid commissions 4,894 5,288 Capitalized contract costs 1,835 1,876 Income tax receivable 953 368 Dividend receivable from JV — 2,460 Other prepaid assets 6,572 5,018 Other current assets 4,579 3,970 Total prepaid and other current assets $ 25,440 $ 23,006
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following (in thousands): December 31, June 30, Machinery and equipment $ 46,596 $ 45,539 Leasehold improvements 31,652 30,994 Software 11,333 11,308 Computer and office equipment 6,430 6,347 Furniture and fixtures 2,102 1,719 Construction in progress 4,121 2,550 102,234 98,457 Less: Accumulated depreciation ( 75,353 ) ( 73,683 ) Property and equipment, net $ 26,881 $ 24,774
Schedule of Goodwill	Activity related to goodwill consisted of the following (in thousands): December 31, June 30, Balance at the beginning of the period $ 57,672 $ 57,681 Currency translation ( 29 ) ( 9 ) Balance at the end of the period $ 57,643 $ 57,672
Schedule of Other Assets	Other assets consisted of the following (in thousands): December 31, June 30, Capitalized contract costs $ 8,195 $ 7,768 Long-term accounts receivable 3,254 2,859 Capitalized software costs 6,976 4,683 Purchased intangible assets, net 37 59 Deferred tax asset 662 659 Other long-term assets 2,919 1,981 Total other assets 22,043 18,009
Schedule of Other Accrued Liabilities	Other accrued liabilities consisted of the following (in thousands): December 31, June 30, Value added tax liabilities $ 8,016 $ 5,048 Commissions due to third parties 2,283 5,202 Refunds due to customers 3,876 6,079 Accrued consulting 1,730 1,238 Accrued royalties 2,974 2,939 Interest payable 448 485 Income tax payable 1,014 1,206 Other liabilities 7,646 6,311 Total other accrued liabilities $ 27,987 $ 28,508
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) in the stockholders' equity section of the Company’s unaudited condensed consolidated balance sheets are as follows (in thousands): December 31, June 30, Cumulative foreign currency translation adjustment $ ( 5,956 ) $ ( 4,777 ) Defined benefit pension obligation 555 555 Accumulated other comprehensive loss $ ( 5,401 ) $ ( 4,222 )
Schedule of Statements of Operations	Other income (expense), net, consisted of the following (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Interest income $ 278 $ 267 $ 581 $ 653 Foreign currency exchange gain (loss) 177 ( 1,278 ) 2,351 ( 2,234 ) Costs for hedging activities $ ( 626 ) $ ( 403 ) $ ( 1,196 ) $ ( 688 ) Other, net ( 25 ) ( 16 ) ( 85 ) 80 Total other income (expense), net $ ( 196 ) $ ( 1,430 ) $ 1,651 $ ( 2,189 )

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Operating Leases	The following table provides information related to the Company’s operating leases (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Operating lease costs (1) $ 2,189 $ 2,456 $ 4,420 $ 5,010 Short-term operating lease costs 80 72 120 133 Cash paid for amounts included in the measurement of lease liabilities 2,062 2,536 4,092 5,025 (1) Excludes e xpenses related to short-term lease operating costs.
Schedule of Operating Lease Right-of-use Assets and Operating Lease Liabilities	Operating lease right-of-use assets and operating lease liabilities consisted of the following (in thousands): December 31, June 30, Operating lease right-of-use assets Balance at the beginning of period $ 33,773 $ 25,853 Lease assets added 1,028 14,389 Amortization for the period ( 3,085 ) ( 6,469 ) Balance at the end of period $ 31,716 $ 33,773 Operating lease liabilities Balance at the beginning of period $ 38,591 $ 27,753 Lease liabilities added 2,086 16,775 Repayment and interest accretion ( 2,700 ) ( 5,937 ) Balance at the end of period $ 37,977 $ 38,591 Current portion of operating lease liabilities $ 7,518 $ 6,218 Non-current portion of operating lease liabilities 30,459 32,373
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities as of December 31, 2024 are presented in the table below (dollars in thousands): Amount 2025 (remaining six months) $ 3,648 2026 7,627 2027 7,600 2028 6,451 2029 4,585 Thereafter 24,649 Total operating lease payments 54,560 Less: imputed interest ( 16,583 ) Present value of operating lease liabilities $ 37,977 Weighted average remaining lease term (in years) 7.9 Weighted average discount rate 10.4 %

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Activity related to goodwill consisted of the following (in thousands): December 31, June 30, Balance at the beginning of the period $ 57,672 $ 57,681 Currency translation ( 29 ) ( 9 ) Balance at the end of the period $ 57,643 $ 57,672

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Outstanding Forward Currency Exchange Contracts	The notional amount of the Company's outstanding forward currency exchange contracts consisted of the following (in thousands): December 31, June 30, Swiss Franc $ 23,850 $ 59,392 Japanese Yen 10,353 7,762 Euro 18,899 2,755 Indian Rupee 12,209 8,916 Chinese Yuan 10,303 5,156 Korean Won 2,084 1,735 Canadian Dollar 1,199 1,510 British Pound 718 730 Total outstanding forward currency exchange contracts $ 79,615 $ 87,956
Schedule of Gain (loss) Associated With the Company's Derivative Financial Instruments	The following table provides information about the gain or loss associated with the Company’s derivative financial instruments not designated as hedging instruments (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Foreign currency exchange gain (loss) on forward contracts $ ( 618 ) $ 959 $ 818 $ 141

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Summary of Carrying Values and Estimated Fair Values of Short-Term and Long-Term Debt	The table below summarizes the carrying value and estimated fair value of the 3.75 % Convertible Senior Notes due 2026, Term Loan Facility, and the Revolving Credit Facility (in thousands): December 31, June 30, Carrying Fair Carrying Fair 3.75 % Convertible Notes due 2026 $ 99,091 $ 91,573 $ 98,782 $ 85,762 Term Loan Facility 59,422 59,422 63,374 63,374 Revolving Credit Facility 17,000 17,000 10,000 10,000 Total $ 175,513 $ 167,995 $ 172,156 $ 159,136

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Information about the Company's Royalty Expense and Royalty Payments	The following table provides information about the Company’s royalty expense and royalty payments (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Royalty expense $ 552 $ 428 $ 795 $ 937 Royalty payments 57 794 759 $ 817

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Carrying Values of all Debt	The Company's outstanding debt as of December 31, 2024 and June 30, 2024, is as follows (in thousands): December 31, 2024 June 30, 2024 Principal Amount Unamortized Debt Costs Net Carrying Amount Principal Amount Unamortized Debt Costs Net Carrying Amount 3.75% Convertible Senior Notes due 2026 $ 100,000 $ ( 909 ) $ 99,091 $ 100,000 $ ( 1,218 ) $ 98,782 Term Loan Facility 60,000 ( 578 ) 59,422 64,000 ( 626 ) 63,374 Revolving Credit Facility 17,000 — 17,000 10,000 — 10,000 Total debt $ 177,000 $ ( 1,487 ) $ 175,513 $ 174,000 $ ( 1,844 ) $ 172,156 Reported as: Short-term debt $ 7,560 $ 7,756 Long-term debt 167,953 164,400 Total debt $ 175,513 $ 172,156
Summary of Interest Expense on Notes and the Revolving Credit Facility, and the Term Loan Facility	A summary of interest expense on the 3.75% Convertible Notes due 2026, the Revolving Credit Facility, and the Term Loan Facility is as follows (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Interest expense related to contractual interest coupon $ 2,495 $ 2,653 $ 5,120 $ 5,322 Interest expense related to amortization of debt issuance costs 275 237 529 475 Total $ 2,770 $ 2,890 $ 5,649 $ 5,797

Stock Incentive Plan and Empl_2

Stock Incentive Plan and Employee Stock Purchase Plan (Tables)	6 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Share-based Compensation Expenses by Functional Line Item Noted Within Company's Operating Expenses	The following table presents details of share-based compensation expenses, by functional line item, noted within the Company's operating expenses (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Cost of revenue - products $ 186 $ 233 $ 403 $ 466 Cost of revenue - services 186 157 340 160 Research and development 343 280 725 681 Selling and marketing 553 437 923 845 General and administrative 1,016 1,207 2,246 2,554 Total share-based compensation $ 2,284 $ 2,314 $ 4,637 $ 4,706

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	6 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per common share	A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per common share is as follows (in thousands, except for per share amounts): Three Months Ended Six Months Ended 2024 2023 2024 2023 Numerator: Net income (loss) $ 2,537 $ ( 9,621 ) $ ( 1,417 ) $ ( 12,590 ) Denominator: Weighted average shares outstanding - basic 101,405 97,776 100,796 97,165 Dilutive effect of potential common shares 2,341 — — — Weighted average shares outstanding - diluted 103,746 97,776 100,796 97,165 Basic net income (loss) per share $ 0.03 $ ( 0.10 ) $ ( 0.01 ) $ ( 0.13 ) Diluted net income (loss) per share $ 0.02 $ ( 0.10 ) $ ( 0.01 ) $ ( 0.13 ) Anti-dilutive share-based awards, excluded 4,225 14,601 12,923 14,601

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Summary of Net Revenue by Geographic Region	The following summarizes net revenue by geographic region (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Americas $ 17,135 $ 23,742 $ 38,005 $ 44,299 EIMEA 38,924 43,800 64,818 83,333 China 35,974 23,375 69,950 49,590 Japan 14,983 10,648 24,848 23,240 Asia Pacific 9,158 5,673 20,098 10,668 Total $ 116,174 $ 107,238 $ 217,719 $ 211,130
Schedule of Geographic Areas in Which the Company has Long-Lived Assets, Property, Plant and Equipment Net, and Operating Lease Right of Use Assets	Information regarding geographic areas in which the Company has long-lived assets, which consists of property, plant and equipment, net, and operating lease right-of-use assets are as follows (in thousands): December 31, June 30, 2024 2024 Americas $ 47,050 $ 46,570 EIMEA 8,340 9,327 China 1,555 1,211 Japan 1,089 1,304 Asia Pacific 563 135 Total $ 58,597 $ 58,547

Joint Venture (Tables)

Joint Venture (Tables)	6 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Summary of Reconciliation Between the Carrying Value of Investment and Proportional Share of Underlying Equity in Net Assets of Joint Ventures	The following table shows the reconciliation between the carrying value of the Company's investment in the JV and its proportional share of the underlying equity in net assets of the JV (in thousands): December 31, June 30, Carrying value of investment in joint venture $ 12,837 $ 9,826 Deferred intra-entity gross profit (1) 8,942 9,835 Equity method goodwill ( 4,720 ) ( 4,720 ) Proportional share of equity investment in joint venture $ 17,059 $ 14,941 (1) As of December 31, 2024, $ 2.9 million of the deferred intra-entity gross profit balance was related to the Tomo C radiation therapy system as compared to $ 4.2 million as of June 30, 2024.
Summary of Financial Information of Joint Ventures (Operations Data)	Summarized financial information of the JV is as follows (in thousands): Three Months Ended Six Months Ended Statement of Operations Data: 2024 2023 2024 2023 Revenue $ 33,582 $ 22,457 $ 55,416 $ 54,312 Gross profit 6,591 2,800 11,441 8,613 Net income (loss) 3,273 ( 872 ) 3,125 7 Net income (loss) attributable to the Company 1,604 ( 427 ) 1,532 4
Summary of Financial Information of Joint Ventures (Balance Sheet Data)	Summarized Balance Sheet Data: As of As of Assets Current assets $ 140,059 $ 94,504 Non-current assets 15,005 13,576 Total assets $ 155,064 $ 108,080 Liabilities and Stockholders' Equity Current liabilities $ 118,754 $ 76,338 Non-current liabilities 1,497 174 Stockholders' equity 34,813 31,568 Total liabilities and stockholders' equity $ 155,064 $ 108,080
Schedule of Net Revenue Recognized From Intra Entity Gross Profit	The following table shows the activity of the Company’s net revenue recognized from intra-entity gross profit from sales (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Deferred intra-entity gross profit recognized on sales to the JV $ 11,745 $ 4,728 $ 14,459 $ 6,313 Deferred intra-entity gross profit on sales to the JV ( 7,232 ) ( 2,858 ) ( 13,565 ) ( 6,019 ) Net recognized gross profit on sales to the JV (1) $ 4,513 $ 1,870 $ 894 $ 294 (1) Profit earned by the Company from the JV is eliminated through cost of goods sold until it is realized; such profits would generally be considered realized when the inventory has been sold through to third parties. For the three and six months ended December 31, 2024, $ 3.3 million and $ 1.3 million of the net recognized gross profit on sales to the JV were related to the Tomo C radiation therapy system as compared to $ 1.7 million and $ 2.2 million of the net deferred gross prof it on sales to the JV for the three and six months ended December 31, 2023 .

Income Tax (Tables)

Income Tax (Tables)	6 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Summary of Provision for Income Taxes	The following summarizes the provision for income taxes (in thousands): Three Months Ended Six Months Ended 2024 2023 2024 2023 Provision for income taxes $ 695 $ 878 $ 1,320 $ 2,810

Revenue - Summary of Contract w

Revenue - Summary of Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands		6 Months Ended
		Dec. 31, 2024	Jun. 30, 2024
Contract Assets:
Unbilled accounts receivable - current	[1]	$ 20,584	$ 19,131
Interest receivable - current	[2]	268	305
Long-term accounts receivable	[3]	3,254	2,859
Interest receivable - non-current	[3]	352	432
Contract Liabilities:
Customer advances		12,959	13,988
Deferred revenue – current		72,088	71,649
Deferred revenue – non-current		24,616	$ 24,114
Change in assets, value:
Change in unbilled accounts receivable – current, value	[1]	1,453
Change in interest receivable – current, value	[2]	(37)
Change in long-term accounts receivable, value	[3]	395
Change in Interest receivable – non-current, value	[3]	(80)
Change in liabilities, value:
Change in customer advances, value		(1,029)
Change in deferred revenue – current, value		439
Change in deferred revenue – non-current, value		$ 502
Change in assets, percentage:
Change in unbilled accounts receivable – current, percentage	[1]	8%
Change in interest receivable – current, percentage	[2]	(12.00%)
Change in long-term accounts receivable, percentage	[3]	14%
Change in Interest receivable – non-current, percentage	[3]	(19.00%)
Change in liabilities, percentage:
Change in customer advances, percentage		(7.00%)
Change in deferred revenue – current, percentage		1%
Change in deferred revenue – non-current, percentage		2%
[1] Included in accounts receivable on the unaudited condensed consolidated balance sheets. Included in prepaid expenses and other current assets on the unaudited condensed consolidated balance sheets. Included in other assets on the unaudited condensed consolidated balance sheets.

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Recognition of deferred revenue	$ 16.7	$ 21.2	$ 44.2	$ 51.2
Remaining performance obligations amount	886.7		$ 886.7
Percentage of changes in operating results on entity's revenue			26%
Capitalized costs to obtain a contract	10		$ 10		$ 9.6
Long-term Warranty and Service
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations amount	60.3		60.3
Performance Obligations Other Than Warrant
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations amount	826.4		826.4
Performance Obligations Service Contracts
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations amount	$ 781.9		$ 781.9

Revenue - Schedule of Remaining

Revenue - Schedule of Remaining Performance Obligations related to Warranty (Details) - Long-term Warranty and Service $ in Thousands	Dec. 31, 2024 USD ($)
2025	$ 13,751
2026	24,892
2027	15,714
Thereafter	$ 5,925

Revenue - Additional Informat_2

Revenue - Additional Information (Details1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01	Dec. 31, 2024
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations recognized period	12 months
Minimum
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations percentage	28%
Maximum
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations percentage	36%

Revenue - Summary of Expenses R

Revenue - Summary of Expenses Related to Capitalized Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Amortization of capitalized contract costs	$ 840	$ 771	$ 1,620	$ 1,643
Impairment loss on capitalized contracts	$ 81	$ 45	$ 181	$ 76

Supplemental Financial Inform_3

Supplemental Financial Information - Additional Information (Details) - USD ($) shares in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Property and equipment, net
Depreciation expense	$ 1,500,000	$ 1,500,000	$ 3,000,000	$ 2,700,000
Prepaid Expense and Other Assets [Abstract]
Impairment of definite lived intangible assets			0
Amortization expense	$ 0	$ 0	$ 0	$ 0
Treasury Stock
Treasury stock, shares			3.1		3.1
Treasury stock, Value			$ 14,100,000		$ 14,100,000

Supplemental Financial Inform_4

Supplemental Financial Information - Summary of Financing Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Financing receivables
Financing receivables	$ 3,481	$ 2,871
Allowance for credit losses	0	0
Total, net	3,481	2,871
Current	1,236	1,340
Non-current	$ 2,245	$ 1,531

Supplemental Financial Inform_5

Supplemental Financial Information - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Inventory, Net [Abstract]
Raw materials	$ 61,007	$ 57,699
Work-in-process	13,949	13,629
Finished goods	73,870	66,996
Inventories, net	$ 148,826	$ 138,324

Supplemental Financial Inform_6

Supplemental Financial Information - Schedule of Prepaid and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Prepaid Expense and Other Assets [Abstract]
Value added tax receivables	$ 6,607	$ 4,026
Prepaid commissions	4,894	5,288
Capitalized contract costs	1,835	1,876
Income tax receivable	953	368
Dividend receivable from JV	0	2,460
Other prepaid assets	6,572	5,018
Other current assets	4,579	3,970
Total prepaid and other current assets	$ 25,440	$ 23,006

Supplemental Financial Inform_7

Supplemental Financial Information - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Property and equipment, net
Property and equipment, gross	$ 102,234	$ 98,457
Less: Accumulated depreciation	(75,353)	(73,683)
Property and equipment, net	26,881	24,774
Machinery and Equipment
Property and equipment, net
Property and equipment, gross	46,596	45,539
Leasehold Improvements
Property and equipment, net
Property and equipment, gross	31,652	30,994
Software
Property and equipment, net
Property and equipment, gross	11,333	11,308
Computer and Office Equipment
Property and equipment, net
Property and equipment, gross	6,430	6,347
Furniture and Fixtures
Property and equipment, net
Property and equipment, gross	2,102	1,719
Construction in Progress
Property and equipment, net
Property and equipment, gross	$ 4,121	$ 2,550

Supplemental Financial Inform_8

Supplemental Financial Information - Schedule of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 57,672	$ 57,681
Currency translation	(29)	(9)
Balance at the end of the period	$ 57,643	$ 57,672

Supplemental Financial Inform_9

Supplemental Financial Information - Schedule of Other assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Other Assets [Abstract]
Capitalized contract costs	$ 8,195	$ 7,768
Long-term accounts receivable	3,254	2,859
Capitalized software costs	6,976	4,683
Purchased intangible assets, net	37	59
Deferred tax asset	662	659
Other long-term assets	2,919	1,981
Total other assets	$ 22,043	$ 18,009

Supplemental Financial Infor_10

Supplemental Financial Information - Schedule of Other accrued liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Accrued Liabilities and Other Liabilities [Abstract]
Value added tax liabilities	$ 8,016	$ 5,048
Commissions due to third parties	2,283	5,202
Refunds due to customers	3,876	6,079
Accrued consulting	1,730	1,238
Accrued royalties	2,974	2,939
Interest payable	448	485
Income tax payable	1,014	1,206
Other liabilities	7,646	6,311
Total other accrued liabilities	$ 27,987	$ 28,508

Supplemental Financial Infor_11

Supplemental Financial Information - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss)
Cumulative foreign currency translation adjustment	$ (5,956)	$ (4,777)
Defined benefit pension obligation	555	555
Accumulated other comprehensive loss	$ (5,401)	$ (4,222)

Supplemental Financial Infor_12

Supplemental Financial Information - Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Supplemental Financial Information Disclosure [Abstract]
Interest income	$ 278	$ 267	$ 581	$ 653
Foreign currency exchange gain (loss)	177	(1,278)	2,351	(2,234)
Costs for hedging activities	(626)	(403)	(1,196)	(688)
Other, net	(25)	(16)	(85)	80
Total other income (expense), net	$ (196)	$ (1,430)	$ 1,651	$ (2,189)

Leases - Schedule of Operating

Leases - Schedule of Operating Leases (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease costs	[1]	$ 2,189	$ 2,456	$ 4,420	$ 5,010
Short-term operating lease costs		80	72	120	133
Cash paid for amounts included in the measurement of lease liabilities		$ 2,062	$ 2,536	$ 4,092	$ 5,025
[1] Excludes e xpenses related to short-term lease operating costs.

Leases - Schedule of Operatin_2

Leases - Schedule of Operating Lease Right-of-use Assets and Operating Lease Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Leases [Abstract]
Balance at the beginning of period-Operating lease right-of-use assets	$ 33,773	$ 25,853
Lease assets added	1,028	14,389
Amortization for the period	(3,085)	(6,469)
Balance at the end of period-Operating lease right-of-use assets	31,716	33,773
Balance at the beginning of period- Operating lease liabilities	38,591	27,753
Lease liabilities added	2,086	16,775
Repayment and interest accretion	(2,700)	(5,937)
Balance at the end of period-Operating lease liabilities	37,977	38,591
Current portion of operating lease liabilities	7,518	6,218
Non-current portion of operating lease liabilities	$ 30,459	$ 32,373

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025 (remaining six months)	$ 3,648
2026	7,627
2027	7,600
2028	6,451
2029	4,585
Thereafter	24,649
Total operating lease payments	54,560
Less: imputed interest	(16,583)
Present value of operating lease liabilities	$ 37,977
Weighted average remaining lease term (in years)	7 years 10 months 24 days
Weighted average discount rate	10.40%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense of Acquired Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Estimated future amortization expense of purchased intangible assets
Total estimated future amortization expense	$ 37	$ 59

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details)	6 Months Ended
	Dec. 31, 2024
Maximum
Length of forward contracts	three months

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Outstanding Forward Currency Exchange Contracts (Details) - Forward Currency Exchange Contracts - USD ($)	Dec. 31, 2024	Jun. 30, 2024
Outstanding forward currency exchange contracts	$ 79,615,000	$ 87,956,000
Swiss Franc
Outstanding forward currency exchange contracts	23,850,000	59,392,000
Japanese Yen
Outstanding forward currency exchange contracts	10,353,000	7,762,000
Euro
Outstanding forward currency exchange contracts	18,899,000	2,755,000
Indian Rupee
Outstanding forward currency exchange contracts	12,209,000	8,916,000
Chinese Yuan
Outstanding forward currency exchange contracts	10,303,000	5,156,000
Korean Won
Outstanding forward currency exchange contracts	2,084,000	1,735,000
Canadian Dollar
Outstanding forward currency exchange contracts	1,199,000	1,510,000
British Pound
Outstanding forward currency exchange contracts	$ 718,000	$ 730,000

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Gain (Loss) Associated with the Company's Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Foreign currency exchange gain (loss) on forward contracts	$ 177	$ (1,278)	$ 2,351	$ (2,234)
Other expense, net | Forward contracts
Foreign currency exchange gain (loss) on forward contracts	$ (618)	$ 959	$ 818	$ 141

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - Forward Currency Exchange Contracts - USD ($)	Dec. 31, 2024	Jun. 30, 2024
Financial assets
Outstanding forward currency exchange contracts	$ 79,615,000	$ 87,956,000
Level 2
Financial assets
Outstanding forward currency exchange contracts	79,600,000	88,000,000
Fair value of currency contract based on exchange rate	$ 79,500,000	$ 87,700,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Carrying Value and Estimated Fair Value of all Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Carrying Value
Fair value measurement
Long term debt	$ 175,513	$ 172,156
Fair Value
Fair value measurement
Long term debt	167,995	159,136
Non-recurring basis | Carrying Value | Level 2 | 3.75% Convertible Notes Due 2026
Fair value measurement
Long term debt	99,091	98,782
Non-recurring basis | Fair Value | Level 2 | 3.75% Convertible Notes Due 2026
Fair value measurement
Long term debt	91,573	85,762
Term Loan Facility | Non-recurring basis | Carrying Value | Level 2
Fair value measurement
Long term debt	59,422	63,374
Term Loan Facility | Non-recurring basis | Fair Value | Level 2
Fair value measurement
Long term debt	59,422	63,374
Revolving Credit Facility | Non-recurring basis | Carrying Value | Level 2
Fair value measurement
Long term debt	17,000	10,000
Revolving Credit Facility | Non-recurring basis | Fair Value | Level 2
Fair value measurement
Long term debt	$ 17,000	$ 10,000

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Carrying Value and Estimated Fair Value of all Debt (Parenthetical) (Details)	Dec. 31, 2024	Jun. 30, 2024	Dec. 31, 2023	May 31, 2021
3.75% Convertible Notes Due 2026
Fair value measurement
Interest rate (as a percent)	3.75%	3.75%	3.75%	3.75%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Loss Contingencies [Line Items]
Royalty amount accrued	$ 2,974	$ 2,939
License agreement | WARF (Wisconsin Alumni Research Foundation)
Loss Contingencies [Line Items]
Royalty amount accrued	3,000	2,900
Financial Guarantee | Various Customers
Loss Contingencies [Line Items]
Bank guarantees	$ 1,300	$ 1,100

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Information about the Company's Royalty Expense and Royalty Payments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Royalty expense	$ 552	$ 428	$ 795	$ 937
Royalty payments	$ 57	$ 794	$ 759	$ 817

Debt - Schedule of Carrying Val

Debt - Schedule of Carrying Values of All Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Debt Instrument [Line Items]
Principal amount of the Notes	$ 177,000	$ 174,000
Unamortized debt costs	(1,487)	(1,844)
Net carrying amount	175,513	172,156
Reported as:
Short-term debt	7,560	7,756
Long-term debt	167,953	164,400
Net carrying amount	175,513	172,156
Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount of the Notes	17,000	10,000
Unamortized debt costs	0	0
Net carrying amount	17,000	10,000
Reported as:
Net carrying amount	17,000	10,000
3.75% Convertible Notes Due 2026
Debt Instrument [Line Items]
Principal amount of the Notes	100,000	100,000
Unamortized debt costs	(909)	(1,218)
Net carrying amount	99,091	98,782
Reported as:
Net carrying amount	99,091	98,782
Term Loan Facility
Debt Instrument [Line Items]
Principal amount of the Notes	60,000	64,000
Unamortized debt costs	(578)	(626)
Net carrying amount	59,422	63,374
Reported as:
Net carrying amount	$ 59,422	$ 63,374

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2024	Jun. 30, 2024	Dec. 31, 2023	May 31, 2021
New Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, aggregate commitments	$ 20
3.75% Convertible Notes Due 2026
Debt Instrument [Line Items]
Aggregate principal amount of debt issued				$ 100
Interest rate (as a percent)	3.75%	3.75%	3.75%	3.75%
Senior Secured Credit Agreement
Debt Instrument [Line Items]
Interest rate determination basis	90-day term Secured Overnight Financing Rate
Senior Secured Credit Agreement | Floor Rate
Debt Instrument [Line Items]
Variable rate (as a percent)	0.50%
Senior Secured Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity	$ 40
Senior Secured Credit Agreement | Term Loan
Debt Instrument [Line Items]
Term of loan	5 years
Credit facility borrowing capacity	$ 80
Senior Secured Credit Agreement | Credit Agreement | If all or Portion of Loans Under New Term Loan Facility are Prepaid
Debt Instrument [Line Items]
Unused commitment fee percentage per annum of average unused portion of the New Revolving Credit Facility	1%
Senior Secured Credit Agreement | Minimum
Debt Instrument [Line Items]
Variable rate (as a percent)	2.50%
Senior Secured Credit Agreement | Minimum | Credit Agreement | Consolidated Senior Net Leverage Ratio is Greater Than or Equal to 3.00:1.00
Debt Instrument [Line Items]
Unused commitment fee percentage per annum of average unused portion of the New Revolving Credit Facility	0.25%
Senior Secured Credit Agreement | Maximum
Debt Instrument [Line Items]
Variable rate (as a percent)	3.25%
Senior Secured Credit Agreement | Maximum | Credit Agreement | Consolidated Senior Net Leverage Ratio is Greater Than or Equal to 3.00:1.00
Debt Instrument [Line Items]
Unused commitment fee percentage per annum of average unused portion of the New Revolving Credit Facility	0.40%

Debt - Summary of Interest Expe

Debt - Summary of Interest Expense on Notes and the Revolving Credit Facility, and the Term Loan Facility (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Interest expense related to contractual interest coupon	$ 2,495	$ 2,653	$ 5,120	$ 5,322
Interest expense related to amortization of debt issuance costs	275	237	529	475
Total	$ 2,770	$ 2,890	$ 5,649	$ 5,797

Stock Incentive Plan and Empl_3

Stock Incentive Plan and Employee Stock Purchase Plan - Summary of Share-Based Compensation Expenses by Functional Line Item Noted Within Company's Operating Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Share-based compensation expenses
Share-based compensation expense	$ 2,284	$ 2,314	$ 4,637	$ 4,706
Cost of revenue | Products
Share-based compensation expenses
Share-based compensation expense	186	233	403	466
Cost of revenue | Services
Share-based compensation expenses
Share-based compensation expense	186	157	340	160
Research and development
Share-based compensation expenses
Share-based compensation expense	343	280	725	681
Selling and marketing
Share-based compensation expenses
Share-based compensation expense	553	437	923	845
General and administrative
Share-based compensation expenses
Share-based compensation expense	$ 1,016	$ 1,207	$ 2,246	$ 2,554

Stock Incentive Plan and Empl_4

Stock Incentive Plan and Employee Stock Purchase Plan - Additional Information (Details) shares in Millions	Nov. 30, 2024 shares
Amended And Restated 2016 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares of stock authorized	5
Amended And Restated 2007 Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares of stock authorized	2.5

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share - Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per common share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net income (loss)	$ 2,537	$ (3,954)	$ (9,621)	$ (2,969)	$ (1,417)	$ (12,590)
Denominator:
Weighted average shares outstanding - basic	101,405		97,776		100,796	97,165
Dilutive effect of potential common shares	2,341		0		0	0
Weighted average shares outstanding - diluted	103,746		97,776		100,796	97,165
Basic net income (loss) per share	$ 0.03		$ (0.1)		$ (0.01)	$ (0.13)
Diluted net income (loss) per share	$ 0.02		$ (0.1)		$ (0.01)	$ (0.13)
Anti-dilutive share-based awards, excluded	4,225		14,601		12,923	14,601

Net Income (Loss) Per Common _4

Net Income (Loss) Per Common Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024	May 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock not included in the calculation of potentially diluted shares	17.1	17.1	17.1	17.1
3.75% Convertible Notes Due 2026
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Interest rate (as a percent)	3.75%	3.75%	3.75%	3.75%	3.75%	3.75%
Convertible debt maturity period	2026	2026	2026	2026

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Dec. 31, 2024 Segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Segment Information - Summary o

Segment Information - Summary of Net Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Segment Information
Total net revenues	$ 116,174	$ 107,238	$ 217,719	$ 211,130
Americas
Segment Information
Total net revenues	17,135	23,742	38,005	44,299
Europe, India, Middle East and Africa
Segment Information
Total net revenues	38,924	43,800	64,818	83,333
China
Segment Information
Total net revenues	35,974	23,375	69,950	49,590
Japan
Segment Information
Total net revenues	14,983	10,648	24,848	23,240
Asia Pacific, excluding China
Segment Information
Total net revenues	$ 9,158	$ 5,673	$ 20,098	$ 10,668

Segment Information - Schedule

Segment Information - Schedule of Geographic Areas in Which the Company has Long-Lived Assets, Property and Equipment Net and Operating Lease Right of Use Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Segment Information
Long lived tangible assets	$ 58,597	$ 58,547
Americas
Segment Information
Long lived tangible assets	47,050	46,570
EIMEA
Segment Information
Long lived tangible assets	8,340	9,327
China
Segment Information
Long lived tangible assets	1,555	1,211
Japan
Segment Information
Long lived tangible assets	1,089	1,304
Asia Pacific, excluding China
Segment Information
Long lived tangible assets	$ 563	$ 135

Joint Venture - Additional Info

Joint Venture - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Schedule Of Equity Method Investments [Line Items]
Currency translation adjustment	$ (29)	$ (9)
Joint venture
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest in joint venture	49%
Currency translation adjustment		600
Dividend declared		$ 2,500
Accuray Asia
Schedule Of Equity Method Investments [Line Items]
Proportion of recognizing joint venture income (loss)	49%

Joint Venture - Summary of Reco

Joint Venture - Summary of Reconciliation Between the Carrying Value of Investment and Proportional Share of Underlying Equity in Net Assets of Joint Ventures (Details) - USD ($) $ in Thousands		Dec. 31, 2024	Jun. 30, 2024	Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]
Carrying value of investment in joint venture		$ 12,837	$ 9,826
Equity method goodwill		57,643	57,672	$ 57,681
Joint venture
Schedule of Equity Method Investments [Line Items]
Carrying value of investment in joint venture		12,837	9,826
Deferred intra-entity gross profit	[1]	8,942	9,835
Equity method goodwill		(4,720)	(4,720)
Proportional share of equity investment in joint venture		$ 17,059	$ 14,941
[1] As of December 31, 2024, $ 2.9 million of the deferred intra-entity gross profit balance was related to the Tomo C radiation therapy system as compared to $ 4.2 million as of June 30, 2024.

Joint Venture - Summary of Re_2

Joint Venture - Summary of Reconciliation Between the Carrying Value of Investment and Proportional Share of Underlying Equity in Net Assets of Joint Ventures (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Jun. 30, 2024
Tomo C Radiation Therapy System
Schedule of Equity Method Investments [Line Items]
Deferred intra-entity gross profit	$ 2.9	$ 4.2

Joint Venture - Summary of Fina

Joint Venture - Summary of Financial Information of Joint Ventures (Operations Data) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Schedule Of Equity Method Investments [Line Items]
Revenue	$ 116,174		$ 107,238		$ 217,719		$ 211,130
Gross profit	41,892		35,902		76,361		75,395
Net income (loss)	$ 2,537	$ (3,954)	$ (9,621)	$ (2,969)	$ (1,417)		$ (12,590)
CNNC Accuray (Tianjin) Medical Technology Co. Ltd.
Schedule Of Equity Method Investments [Line Items]
Revenue		33,582		22,457		$ 55,416		$ 54,312
Gross profit		6,591		2,800		11,441		8,613
Net income (loss)		3,273		(872)		3,125		7
Net income (loss) attributable to the Company		$ 1,604		$ (427)		$ 1,532		$ 4

Joint Venture - Summary of Fi_2

Joint Venture - Summary of Financial Information of Joint Ventures (Balance Sheet Data) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023
Schedule Of Equity Method Investments [Line Items]
Current assets	$ 325,891		$ 323,236
Total assets	478,382		468,627
Liabilities and Stockholders' Equity
Current liabilities	201,453		195,267
Stockholder's equity	47,891	$ 45,223	45,084	$ 47,653	$ 50,944	$ 53,659
Total liabilities and stockholders' equity	$ 478,382		$ 468,627
Joint venture
Schedule Of Equity Method Investments [Line Items]
Current assets		140,059			94,504
Non current assets		15,005			13,576
Total assets		155,064			108,080
Liabilities and Stockholders' Equity
Current liabilities		118,754			76,338
Non-current liabilities		1,497			174
Stockholder's equity		34,813			31,568
Total liabilities and stockholders' equity		$ 155,064			$ 108,080

Joint Venture - Schedule of Net

Joint Venture - Schedule of Net Revenue Recognized From Intra Entity Gross Profit (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Net recognized gross profit on sales to the JV (1)				$ 894	$ 294
Joint venture
Schedule of Equity Method Investments [Line Items]
Deferred intra-entity gross profit recognized on sales to the JV		$ 11,745	$ 4,728	14,459	6,313
Deferred intra-entity gross profit on sales to the JV		(7,232)	(2,858)	(13,565)	(6,019)
Net recognized gross profit on sales to the JV (1)	[1]	$ 4,513	$ 1,870	$ 894	$ 294
[1] Profit earned by the Company from the JV is eliminated through cost of goods sold until it is realized; such profits would generally be considered realized when the inventory has been sold through to third parties. For the three and six months ended December 31, 2024, $ 3.3 million and $ 1.3 million of the net recognized gross profit on sales to the JV were related to the Tomo C radiation therapy system as compared to $ 1.7 million and $ 2.2 million of the net deferred gross prof it on sales to the JV for the three and six months ended December 31, 2023 .

Joint Venture - Schedule of N_2

Joint Venture - Schedule of Net Revenue Recognized From Intra Entity Gross Profit (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Net recognized gross profit on sales to the JV			$ 894	$ 294
Tomo C Radiation Therapy System
Schedule of Equity Method Investments [Line Items]
Net deferred gross profit on sales to the JV		$ 1,700		$ 2,200
Net recognized gross profit on sales to the JV	$ 3,300		$ 1,300

Income Tax - Summary of Provisi

Income Tax - Summary of Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 695	$ 878	$ 1,320	$ 2,810

Income Tax - Additional Informa

Income Tax - Additional Information (Details) $ in Millions	6 Months Ended
	Dec. 31, 2024 USD ($)
Income Taxes [Line Items]
Gross unrecognized tax benefits	$ 22
Unrecognized tax benefits that would not affect income tax expense	$ 21.6
Subsequent period within which no material changes in unrecognized tax benefits are expected	12 months