Accuray (ARAY) 10-Q 4 Nov 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2020	Nov. 02, 2020
Cover [Abstract]
Entity Registrant Name	ACCURAY INCORPORATED
Entity Central Index Key	0001138723
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
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		91,273,683
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity File Number	001-33301
Entity Tax Identification Number	20-8370041
Entity Address, Address Line One	1310 Chesapeake Terrace
Entity Address, City or Town	Sunnyvale
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94089
City Area Code	408
Local Phone Number	716-4600
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		Sep. 30, 2020	Jun. 30, 2020
Current assets:
Cash and cash equivalents		$ 89,955	$ 107,577
Restricted cash		5,531	997
Accounts receivable, net of allowance for doubtful accounts of $596 and $1,268 as of September 30, 2020 and June 30, 2020, respectively	[1]	75,034	90,599
Inventories, net		141,017	134,374
Prepaid expenses and other current assets		18,139	21,227
Deferred cost of revenue		2,800	2,712
Total current assets		332,476	357,486
Property and equipment, net		14,540	15,349
Investment in joint venture		15,591	13,929
Operating lease right-of-use assets, net		27,377	28,647
Goodwill		57,834	57,717
Intangible assets, net		606	663
Restricted cash		1,315	1,337
Other assets		14,971	15,799
Total assets		464,710	490,927
Current liabilities:
Accounts payable		17,841	23,126
Accrued compensation		19,618	17,963
Operating lease liabilities, current		8,381	8,224
Other accrued liabilities		19,047	27,180
Customer advances		16,712	22,571
Deferred revenue		81,344	83,207
Short-term debt		6,162
Total current liabilities		169,105	182,271
Long-term liabilities:
Operating lease liabilities, non-current		22,588	24,173
Long-term other liabilities		7,644	7,416
Deferred revenue		24,406	24,125
Long-term debt		173,527	189,307
Total liabilities		397,270	427,292
Commitments and contingencies (Note 9)
Stockholders' equity:
Common stock, $0.001 par value; authorized: 200,000,000 shares as of September 30, 2020 and June 30, 2020, respectively; issued and outstanding: 91,273,683 and 91,178,108 shares at September 30, 2020 and June 30, 2020, respectively		91	91
Additional paid-in-capital		547,651	545,741
Accumulated other comprehensive income (loss)		1,009	(484)
Accumulated deficit		(481,311)	(481,713)
Total stockholders' equity		67,440	63,635
Total liabilities and stockholders' equity		$ 464,710	$ 490,927
[1]	Includes accounts receivable from the China joint venture of $2,015 and $3,039 at September 30, 2020 and June 30, 2020, respectively. See Note 14.

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Statement Of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 596	$ 1,268
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	91,273,683	91,178,108
Common stock, outstanding shares	91,273,683	91,178,108
Accounts receivable from joint venture	$ 2,015	$ 3,039

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2020	Sep. 30, 2019
Net revenue:
Total net revenue	[1]	$ 85,332	$ 89,577
Cost of revenue:
Total cost of revenue	[2]	49,929	56,634
Gross profit		35,403	32,943
Operating expenses:
Research and development		12,148	13,341
Selling and marketing		8,898	13,266
General and administrative		8,889	10,616
Total operating expenses		29,935	37,223
Income (loss) from operations		5,468	(4,280)
Loss on equity method investment, net		(28)
Other expense, net		(4,694)	(4,439)
Income (loss) before provision for income taxes		746	(8,719)
Provision for income taxes		344	637
Net income (loss)		$ 402	$ (9,356)
Net income (loss) per share - basic		$ 0	$ (0.11)
Net income (loss) per share - diluted		$ 0	$ (0.11)
Weighted average common shares used in computing net income (loss) per share:
Basic		91,194	88,772
Diluted		91,681	88,772
Net income (loss)		$ 402	$ (9,356)
Foreign currency translation adjustment		1,493	(1,018)
Comprehensive income (loss)		1,895	(10,374)
Products
Net revenue:
Total net revenue		31,258	37,605
Cost of revenue:
Total cost of revenue		18,426	21,570
Services
Net revenue:
Total net revenue		54,074	51,972
Cost of revenue:
Total cost of revenue		$ 31,503	$ 35,064
[1]	Includes sales to the China joint venture, an equity method investment of $4,951 and $3,817 for three months ended September 30, 2020 and 2019, respectively. See Note 14.
[2]	Includes cost of revenue from sales to the China joint venture, an equity method investment of $1,944 and $2,491 for the three months ended September 30, 2020 and 2019, respectively. See Note 14.

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2020	Sep. 30, 2019
Total net revenue	[1]	$ 85,332	$ 89,577
Total cost of revenue	[2]	49,929	56,634
Revenue from Joint Venture
Total net revenue		4,951	3,817
Total cost of revenue		$ 1,944	$ 2,491
[1]	Includes sales to the China joint venture, an equity method investment of $4,951 and $3,817 for three months ended September 30, 2020 and 2019, respectively. See Note 14.
[2]	Includes cost of revenue from sales to the China joint venture, an equity method investment of $1,944 and $2,491 for the three months ended September 30, 2020 and 2019, respectively. See Note 14.

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, 2019	$ 49,871	$ 89	$ 535,332	$ (10)	$ (485,540)
Balance (in shares) at Jun. 30, 2019		88,521,511
Issuance of restricted stock	(207)		(207)
Issuance of restricted stock (in shares)		356,999
Share-based compensation	1,684		1,684
Net income (loss)	(9,356)				(9,356)
Cumulative translation adjustment	(1,018)			(1,018)
Balance at Sep. 30, 2019	40,974	$ 89	536,809	(1,028)	(494,896)
Balance (in shares) at Sep. 30, 2019		88,878,510
Balance at Jun. 30, 2020	$ 63,635	$ 91	545,741	(484)	(481,713)
Balance (in shares) at Jun. 30, 2020	91,178,108	91,178,108
Issuance of restricted stock (in shares)		95,575
Share-based compensation	$ 1,910		1,910
Net income (loss)	402				402
Cumulative translation adjustment	1,493			1,493
Balance at Sep. 30, 2020	$ 67,440	$ 91	$ 547,651	$ 1,009	$ (481,311)
Balance (in shares) at Sep. 30, 2020	91,273,683	91,273,683

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net income (loss)	$ 402	$ (9,356)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	1,660	1,865
Share-based compensation	2,244	1,700
Amortization of debt issuance costs	357	329
Accretion of interest on debt	1,241	965
Change in (recovery of) allowance for doubtful accounts	(660)	22
Non-cash revenue transactions - Joint Venture	(1,365)
Provision for write-down of inventories	1,520	992
Loss on disposal of property and equipment	2
Loss on equity method investment	28
Deferral of equity method investment intra-entity profit on sales	(326)
Changes in assets and liabilities:
Accounts receivable	17,953	6,785
Inventories	(7,671)	(10,479)
Prepaid expenses and other assets	3,973	2,049
Deferred cost of revenue	(88)	(2)
Accounts payable	(5,202)	(5,704)
Operating lease liabilities, net	(157)	(82)
Accrued liabilities	(7,281)	(14,086)
Customer advances	(6,134)	(1,707)
Deferred revenues	(3,366)	2,088
Net cash used in operating activities	(2,870)	(24,621)
Cash flows from investing activities
Purchases of property and equipment	(569)	(1,267)
Net cash used in investing activities	(569)	(1,267)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards		(207)
Proceeds from debt, net of costs		24,716
Paydown on term loan	(10,000)
Loan amendment cost	(500)
Borrowings (repayments) under Revolving Credit Facility, net	(659)	2,941
Net cash (used in) provided by financing activities	(11,159)	27,450
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1,488	(1,852)
Net decrease in cash, cash equivalents and restricted cash	(13,110)	(290)
Cash, cash equivalents and restricted cash at beginning of period	109,911	88,178
Cash, cash equivalents and restricted cash at end of period	$ 96,801	$ 87,888

The Company and its Significant

The Company and its Significant Accounting Policies	3 Months Ended
	Sep. 30, 2020
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 has its principal place of business in Sunnyvale, California. 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 inter-company 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 (“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 months ended September 30, 2020 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2021, 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, 2020 included in the Company’s Annual Report on Form 10-K filed with the SEC on August 25, 2020. Risks and Uncertainties The Company is subject to risks and uncertainties as a result of the coronavirus disease 2019 (“COVID-19”) pandemic. The extent of the impact of the COVID-19 pandemic on the Company's business is highly uncertain and difficult to predict, as the effects of and response to the pandemic are rapidly evolving and new information is regularly coming to light. The Company's customers are diverting resources to treat COVID-19 patients and deferring non-urgent and elective procedures, both of which are likely to impact customers' ability to meet their other financial obligations, including to the Company. Some customers, which include hospitals, major academic medical centers, and other related entities, have incurred significant losses during the COVID-19 pandemic due to reduced patient volume. Furthermore, the Company is also anticipating a global economic slowdown due to disruptions caused by the COVID-19 pandemic, which may result in an incremental adverse impact on revenue, net income and cash flow and may require significant additional expenditures to mitigate such impacts. Policymakers around the globe have responded with fiscal policy actions to support the healthcare industry and economy as a whole. The magnitude and overall effectiveness of these actions remain uncertain. The Company’s financial results have also been affected by the COVID-19 pandemic in various ways. The COVID-19 pandemic is adversely impacting the pace at which the backlog converts to revenue in the near-term. This is primarily the result of delays in the timing of deliveries and installations in fiscal 2020 and into the first quarter of fiscal 2021 due to timing delays caused by the COVID-19 pandemic, which resulted in a decline in revenue for the same period. The Company expects that such delays in deliveries and installations will continue through fiscal 2021, which could continue to have a negative impact on revenue during such period. The Company has experienced disruptions in its sales and revenue cycle as well as increases in customer defaults, delays in payment and planned installations and service agreements as a result of the effect of the COVID-19 pandemic on the Company’s customers as well as restrictions imposed on travel. The Company also received requests from a few customers to extend payment terms or temporarily suspend service and corresponding payment obligations. While the Company has only received a small number of requests thus far, there can be no guarantee that more customers will not ask for the same if the effects of the COVID-19 pandemic deepen or worsen. As a result, the Company is carefully monitoring the pandemic and the resulting length and depth of the economic impact on our financial condition and results of operations. Given the uncertainty regarding the spread and resurgence of COVID-19 and how long the pandemic will last, the related financial impact cannot be reasonably estimated at this time, although the impacts are expected to continue and may also significantly affect the Company’s business. The Company continues to critically review its liquidity and anticipated capital requirements in light of the significant uncertainty created by the COVID-19 pandemic. 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. However, the Company is unable to predict with certainty the impact of the COVID-19 pandemic on its ability to maintain compliance with the debt covenants contained in the credit and security agreements related to its Revolving Credit Facility and Term Loan (as such terms are defined in Note 10 below), including financial covenants regarding the fixed charge coverage ratio, minimum net revenue, minimum consolidated cash balance and minimum consolidated domestic cash balance tests. The Company was in compliance with such covenants for the quarter ended September 30, 2020, as amended. 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 amendments to the applicable credit and security 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 amendment 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 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 and the unknown future impacts of the COVID-19 pandemic. Key estimates and assumptions made by the Company relate to revenue recognition, assessment of recoverability of goodwill and intangible assets, valuation of our equity method investment in the JV, valuation of inventories, share based compensation expense, convertible notes, income taxes, allowance for doubtful accounts and loss contingencies. Actual results could differ materially from those estimates. Significant Accounting Policies Other than the policy adoption discussed below under Accounting Pronouncements Recently Adopted, .

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recent Accounting Pronouncements	Note 2. Recent Accounting Pronouncements Accounting Pronouncement Recently Adopted In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company adopted this update effective July 1, 2020 and the implementation of this update did not have a material impact on its consolidated financial position, results of operations or cash flows. In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808) to clarify revenue accounting for collaborative arrangements entered into with customers. The Company adopted this standard effective July 1, 2020. The adoption of this standard had no impact on our condensed consolidated financial statements and disclosure. Accounting Pronouncements Not Yet Effective In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying Accounting for Income Taxes (“ASU 2019-12”). The amendments in ASU 2019-12 are intended to simplify various aspects related to accounting for income taxes and reduce the cost of accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning July 1, 2021 with early adoption permitted. The Company is evaluating the impact of adopting this standard to its consolidated financial statements and related disclosures. In January 2020, the FASB issued ASU 2020-01 Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. This guidance addresses accounting for the transition into and out of the equity method and provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities. This standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2020-01, which is effective for the Company in its fiscal year and interim periods beginning on July 1, 2021, to its consolidated financial statements and related disclosures. In March 2020, the FASB issued an update (“ASU 2020-04”) establishing Accounting Standards Codification (“ASC”) Topic 848, Reference Rate Reform. ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The Company is currently evaluating the impact of the guidance and our options related to the practical expedients.

Revenue

Revenue	3 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenue	Note 3. Revenue Contract Balances The Company offers payment terms of more than one year for qualified customers and transactions in rare circumstances. At times, revenue recognition occurs before 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. Customer advances represent deposits from customers for shipments of systems. Deferred revenue balances represent active and non-active warranties and services, which are recognized based on contract terms. When the Company receives advances or deposits from customers before revenue is recognized, this results in a contract liability. It can take up to two and half years from the time of order to revenue recognition due to the Company’s long sales cycle. Changes in the contract assets and contract liabilities are as follows: September 30, 2020 June 30, 2020 (Dollars in thousands) Amount Amount Contract Assets: Unbilled accounts receivable – current (1) $ 12,093 $ 11,739 Interest receivable – current (2) 583 493 Long-term accounts receivable (3) 3,429 3,810 Interest receivable – non-current (3) 1,286 1,342 Contract Liabilities: Customer advances 16,712 22,571 Deferred revenue – current 81,344 83,207 Deferred revenue – non-current 24,406 24,125 (1) Included in accounts receivable on the Company’s consolidated balance sheet (2) Included in prepaid expenses and other current assets on the Company’s consolidated balance sheet ( 3 ) Included in other assets on the Company’s consolidated balance sheet During the quarter ended September 30, 2020, contract assets changed primarily due changes in the timing of billings that occurred after revenues were recognized and changes in transactions with payment terms exceeding 12 months. Contract liabilities changed due to changes in the timing of recognition of revenue for system sales for which the warranty has not yet started and was deferred and due to changes in transaction price. During the three months ended September 30, 2020 and 2019, the Company recognized revenues of $8.8 million, and $11.2 million, respectively, which were included in the deferred revenue balances at June 30, 2020 and 2019, respectively. Remaining Performance Obligations Remaining performance obligations represent deferred revenue from open contracts for which performance has already started and the transaction price from executed and non-cancellable contracts for which performance has not yet started. Service contracts in general are considered month-to-month contracts, and therefore, the Company has elected the practical expedient to not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. As of September 30, 2020, total remaining performance obligations amounted to $984.9 million. Of this total amount, $78.7 million related to long-term warranty and service, which is expected to be recognized over the remaining warranty period for systems that have been delivered. For systems that have been delivered but not yet installed, management estimates the timing of installation since warranty starts upon installation. The following table represents the Company's remaining performance obligations related to long-term warranty and service as of September 30, 2020 and the estimated revenue expected to be recognized: Fiscal years of revenue recognition (Dollars in thousands) 2021 2022 2023 Thereafter Long-term warranty and service $ 29,526 $ 25,530 $ 13,054 $ 10,550 For the remaining $906.2 million of performance obligations, the Company estimates 21% to 28% will be recognized in the next 12 months, and the remaining portion will be recognized in the 30 months 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. Based on historical cancellations, approximately 23% of the Company’s contracts may never result in revenue due to cancellation. 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. Capitalized Contract Costs The Company capitalizes and amortizes the incremental costs of obtaining a contract, primarily related to certain bonuses and sales commissions. The capitalized bonuses and sales commissions are amortized over a period of five years commencing upon the initial transfer of control of the system to the customer following the pattern of transfer of control of the performance obligations to the customer. The balance of capitalized costs to obtain a contract was $7.4 million and $7.9 million as of September 30, 2020 and June 30, 2020, 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 consolidated balance sheets. During the three months period ended September 30, 2020 and 2019, the Company recognized $0.7 million and $0.5 million, respectively in expense related to the amortization of the capitalized contract costs. Included in the amortization expense, the Company booked $0.1 million in impairment loss for each of the three month period ended September 30, 2020 and 2019, respectively.

Supplemental Financial Informat

Supplemental Financial Information	3 Months Ended
	Sep. 30, 2020
Supplemental Financial Information Disclosure [Abstract]
Supplemental Financial Information	Note 4. 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 in the Company’s balance sheet. The Company’s financing receivables, consisting of its accounts receivable with contractual maturities of more than one year, totaled $3.5 million and $3.8 million at September 30, 2020 and June 30, 2020, respectively, and are included in Other Assets in the unaudited condensed consolidated balance sheet. The Company evaluates the credit quality of an obligor at contract inception and monitors credit quality over the term of the underlying transactions. The Company performs a credit analysis for all new customers 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 performed an assessment of the allowance for credit losses and impairments related to its financing receivables as of September 30, 2020 and June 30, 2020. Based upon such assessment, the Company recorded an allowance for credit losses related to such financing receivables of $4.4 million at each of the periods ended September 30, 2020 and June 30, 2020, respectively. A summary of the Company’s financing receivables is presented as follows (in thousands): September 30, 2020 June 30, 2020 Gross $ 13,042 $ 13,019 Residual value — — Unearned income (1,805 ) (1,774 ) Allowance for credit loss (4,380 ) (4,369 ) Total, net $ 6,857 $ 6,876 Reported as: Current $ 3,337 $ 3,084 Non-current 3,520 3,792 Total, net $ 6,857 $ 6,876 Inventories, net Inventories, net consisted of the following (in thousands): September 30, 2020 June 30, 2020 Raw materials $ 57,168 $ 48,037 Work-in-process 17,722 17,798 Finished goods 66,127 68,539 Inventories, net $ 141,017 $ 134,374 Property and equipment, net Property and equipment, net consisted of the following (in thousands): September 30, 2020 June 30, 2020 Furniture and fixtures $ 1,869 $ 1,961 Computer and office equipment 10,486 10,896 Software 11,493 11,606 Leasehold improvements 26,082 26,206 Machinery and equipment 48,524 48,830 Construction in progress 800 623 99,254 100,122 Less: Accumulated depreciation (84,714 ) (84,773 ) Property and equipment, net $ 14,540 $ 15,349 Depreciation expense related to property and equipment for the three months ended September 30, 2020 and 2019 was $1.6 million and $1.8 million, respectively. Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (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 equity section of the Company’s condensed consolidated balance sheet are as follows (in thousands): September 30, 2020 June 30, 2020 Cumulative foreign currency translation adjustment $ 2,240 $ 752 Defined benefit pension obligation (1,231 ) (1,236 ) Accumulated other comprehensive income (loss) $ 1,009 $ (484 )

Leases

Leases	3 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Note 5. Leases The Company has operating leases for corporate offices and warehouse facilities worldwide. Additionally, the Company leases cars, copy machines and laptops through various operating leases. For some leases the Company has entered into non-cancelable operating lease agreements with various expiration dates through June 2025. 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. Operating lease costs for the three months ended September 30, 2020 were $2.4 million not including $0.1 million short-term operating lease costs. For the three months ended September 30, 2020, cash paid for amounts included in the measurement of operating lease liabilities was approximately $2.4 million. Operating lease liabilities arising from obtaining operating right-of-use assets totaled $0.2 million for the three months ended September 30, 2020. Maturities of operating lease liabilities as of September 30, 2020 are presented in the table below (in thousands): Year Ending June 30, Amount 2021 (remaining 9 months) $ 7,171 2022 9,311 2023 8,676 2024 5,922 2025 3,032 Thereafter — Total operating lease payments 34,112 Less: imputed interest (3,136 ) Present value of operating lease liabilities $ 30,976 Weighted average remaining lease term (in years) 3.88 Weighted average discount rate 5.28 %

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 6. Goodwill and Intangible Assets Goodwill Activity related to goodwill consisted of the following (in thousands): September 30, 2020 June 30, 2020 Balance at the beginning of the period $ 57,717 $ 57,770 Currency translation 117 (53 ) Balance at the end of the period $ 57,834 $ 57,717 In fiscal 2020, the Company performed its annual goodwill impairment test and determined that there was no impairment to goodwill. In addition, during the first quarter of fiscal year 2021, the Company reviewed for possible triggering events due to circumstances surrounding the COVID-19 pandemic and no impairment loss was recorded as a result of such review. The Company will continue to monitor its recorded goodwill for indicators of impairment. Intangible Assets The Company’s carrying amount of acquired intangible assets, net, is as follows (in thousands): September 30, 2020 June 30, 2020 Useful Lives Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount (in years) Patent license 2 - 7 $ 1,170 $ (564 ) $ 606 $ 1,170 $ (507 ) $ 663 During fiscal 2017, the Company purchased a patent license with a useful life of seven years. During the quarter ending March 31, 2020, the Company purchased a patent license for $170 thousand with a useful life of two years. The Company did not identify any triggering events that would indicate potential impairment of its definite-lived intangible and long-lived assets as of September 30, 2020 and June 30, 2020. Amortization expense related to intangible assets for the three months ended September 30, 2020 and 2019 was $0.06 million and $0.04 million, respectively. The estimated future amortization expense of acquired intangible assets as of September 30, 2020 is as follows (in thousands): Year Ending June 30, Amount 2021 (remaining 9 months) $ 171 2022 185 2023 143 2024 107 $ 606

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Sep. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 7. Derivative Financial Instruments The Company manages some of its foreign currency risk through the purchase of foreign currency forward contracts that hedge against the short-term effect of currency fluctuations. These foreign currency forward contracts have a monthly maturity that mitigates the effect of rate fluctuations on certain local currency denominated intercompany balances, cash, and customer receivables. 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 include the Euro, Japanese Yen, Swiss Franc, and U.S. Dollar. There were no outstanding foreign currency forward contracts at the end of September 30, 2020 and June 30, 2020. The following table provides information about gain (loss) associated with the Company’s derivative financial instruments (in thousands): Three Months Ended September 30, Three Months Ended September 30, 2020 2019 Foreign currency exchange gain (loss) on foreign contracts $ (910 ) $ 118 Foreign currency transactions gain (loss) 404 (538 )

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8. 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. The Company had a cash balance of $90.0 million and $107.6 million at September 30, 2020 and June 30, 2020, respectively. Assets and Liabilities That Are Measured at Fair Value on a Nonrecurring Basis The Company’s debt is measured on a non-recurring basis using Level 2 inputs based upon observable inputs of the Company’s underlying stock price and the time value of the conversion option since an observable quoted price of the 3.75% The following table summarizes the carrying value and estimated fair value of the Credit Facilities and the 3.75% Convertible Notes (in thousands): September 30, 2020 June 30, 2020 Carrying Value Fair Value Carrying Value Fair Value 3.75% Convertible Notes $ 77,374 $ 73,746 $ 76,398 $ 65,272 Term Loan Facility 74,972 74,972 84,908 84,908 Revolving Credit Facility 27,343 27,343 28,001 28,001 Total $ 179,689 $ 176,061 $ 189,307 $ 178,181

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9. Commitments and Contingencies Litigation From time to time, the Company is involved in legal proceedings 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 September 30, 2020. 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 September 30, 2020. Guarantees As of September 30, 2020 and June 30, 2020, the Company had various bank guarantees totaling approximately $1.3 million and $1.0 million, respectively, related to bidding processes with customers.

Debt

Debt	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	Note 10. Debt 3.75% Convertible Senior Notes due July 2022 In August 2017, the Company issued $85.0 million aggregate principal amount of its 3.75% Convertible Senior Notes due 2022 (the “3.75% Convertible Notes”) under an indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. Holders of the 3.75% Convertible Notes may convert their notes at any time on or after April 15, 2022 until the close of the business day immediately preceding the maturity date. Prior to April 15, 2022, holders of the 3.75% Convertible Notes may convert their notes only under certain circumstances. Upon conversion, the Company will have the right to pay cash, or deliver shares of common stock of the Company or a combination thereof, at the Company’s election. The initial conversion rate is 174.8252 shares of the Company’s common stock per $1,000 principal amount (which represents an initial conversion price of approximately $5.72 per share of the Company’s common stock). The conversion rate, and thus the conversion price, is subject to adjustment as further described below. Holders of the 3.75% Convertible Notes who convert their notes in connection with a “make-whole fundamental change,” as defined in the indenture, may be entitled to a make-whole premium in the form of an increase in the conversion rate. Additionally, in the event of a “fundamental change,” as defined in the indenture, holders of the 3.75% Convertible Notes may require the Company to purchase all or a portion of their note at a fundamental change repurchase price equal to 100% of the principal amount of the 3.75% Convertible Notes, plus accrued and unpaid interest, if any, to, but not including, the fundamental change repurchase date. As of September 30, 2020, $85.0 million of aggregate principal amount was outstanding. Revolving Credit Facility On June 14, 2017, the Company entered into a credit and security agreement with a lender (the “Credit Agreement”). The Credit Agreement provides the Company with a revolving credit facility in the initial amount of $52.0 million (the “Revolving Credit Facility”). Availability for borrowings under the Revolving Credit Facility is subject to a borrowing base that is calculated as a function of the value of the Company’s eligible accounts receivable and eligible inventory, and the Company is required to maintain a minimum drawn balance of at least 30% of such availability. Interest on the borrowings under the Revolving Credit Facility is payable monthly in arrears at an annual interest rate of reserve-adjusted, 90-day LIBOR plus 4.50% and had an initial maturity date of June 14, 2021. In December 2017, concurrently with the Term Loan Agreement described below, the Company entered into an amendment to the Credit Agreement (the “Amendment” and, collectively with the Credit Agreement, the “Amended Credit Agreement”). The Amendment reduced the maximum borrowings under the Revolving Credit Facility to $32.0 million and extended the maturity date of the Revolving Credit Facility to December 15, 2022. In May 2019, the Company amended the Amended Credit Agreement to, among other things, decrease the interest rate from 90-day LIBOR plus 4.50% to 90-day LIBOR plus 3.50% and extend the maturity date to May 30, 2024 and update the calculation of the deferred revolving loan origination fee such that it is based on the amount of time elapsed from the effective date of the May 2019 amendment. The Company accounted for the amendment as a modification of existing debt and deferred an insignificant amount of offering costs on its consolidated balance sheet. The Amended Credit Agreement was further amended in August 2019 to, among other things, revise or add financial covenants, including the fixed charge coverage ratio, minimum net revenue, minimum consolidated cash balance and minimum consolidated domestic cash balance tests. Other significant terms remain unchanged. The Company accounted for the amendment as a modification of existing debt and deferred an insignificant amount of offering costs on its consolidated balance sheet. In July 2020, the Company further amended the Amended Credit Agreement to which, among other things modified certain financial covenants related to the Fixed Charge Coverage Ratio, minimum consolidated Net Revenue and minimum consolidated cash balance. Other significant terms remain unchanged. The Company accounted for the amendment as a modification of existing debt and deferred an insignificant amount of offering costs on its consolidated balance sheet. The Company was in compliance with the covenants under the Amended Credit Agreement, as amended, as of September 30, 2020. As of September 30, 2020, approximately $27.3 million of aggregate principal amount was outstanding under the Revolving Credit Facility. Term Loan In December 2017, the Company entered into a credit and security agreement with a lender (the “Term Loan Agreement”). The Term Loan Agreement provides for an initial term loan of $40.0 million with an additional tranche of $20.0 million undrawn and available through December 31, 2018, if specified conditions are met (the “Term Loan”). In connection with the Amendment, the Company used a portion of the net proceeds from the initial advance to repay a portion of the outstanding borrowings under the Revolving Credit Facility. Interest on the Term Loan is payable monthly in arrears at an annual interest rate of 6.75% plus 90-day LIBOR. The Term Loan Agreement matures December 15, 2022 and, if prepaid, has fees equal to 3%, 2%, and 1% of the prepayment amount if such termination occurs within the first year, the second year, and the third year of funding, respectively. The term of the Term Loan is 60 months with interest only for the first 24 months followed by straight-line amortization of principal for the remaining months. In addition, the Company pays an annual administrative fee of 0.25% and is required to make a final payment of 4.0% of the Term Loan amount. In December 2018, the Company drew an additional $5.0 million under the Term Loan Agreement and in connection therewith amended the Term Loan Agreement to, among other things, (i) extended the term loan second tranche commitment termination date for the remaining $15.0 million unfunded commitment from December 31, 2018 to June 30, 2019; (ii) provided that term loan second tranche may be drawn in two separate advances; and (iii) updated the calculation of the prepayment fee such that it is based on the amount of time elapsed from the effective date of the December 2018 amendment. In May 2019, the Company amended the Term Loan Agreement to, among other things, increase the loan second tranche commitment by $0.5 million, extend the maturity date to May 30, 2024, decrease the annual interest rate from 6.75% plus 90-day LIBOR to 5.50% plus 90-day LIBOR, and modify the calculation of the prepayment fee such that it is based on the amount of time elapsed from the effective date of the May 2019 amendment. The Company accounted for the amendment as a modification of existing debt and recorded approximately $1.5 million of debt discount costs associated with the amendment against long-term debt on the consolidated balance sheets. In August 2019, the Company amended the Term Loan Agreement to, among other things, increase the loan commitment by $25 million in the form of a new tranche (“Tranche 3”), increase the annual interest rate from 5.50% plus 90-day LIBOR to 6.75% plus 90-day LIBOR, and revise or add financial covenants, including the fixed charge coverage ratio, minimum net revenue, minimum consolidated cash balance and minimum consolidated domestic cash balance tests. Other significant terms remain unchanged. The Company borrowed in full Tranche 3, or $25 million, on the date of the amendment. The Company accounted for the amendment as a modification of existing debt, at the same time, the Company recorded approximately $1.6 million of debt discount costs associated with the amendment against long-term debt. In July 2020, the Company further amended the Term Loan Agreement which, among other things modified certain financial covenants related to the Fixed Charge Coverage Ratio, minimum consolidated Net Revenue and minimum consolidated cash balance. Other significant terms remained unchanged. In addition, the Company agreed to prepay $10.0 million in principal with respect to the Term Loan. The Company accounted for the amendment as a modification of existing debt and, at the same time, the Company recorded approximately $0.5 million of debt amendment fee associated with the amendment. As of September 30, 2020, approximately $79.9 million aggregate principal amount of the Term Loan was outstanding. The following table presents the carrying value of the Revolving Credit Facility, the 3.75% Convertible Notes, and the Term Loan (together, the “Notes”) (in thousands): As of September 30, 2020 Revolving Credit Facility (1) 3.75% Convertible Notes Term Loan Facility Total Carrying amount of equity conversion component $ — $ 14,650 $ — $ 14,650 Principal amount of the Notes $ 27,343 $ 85,000 $ 79,948 $ 192,291 Unamortized debt costs — (1,713 ) (785 ) (2,498 ) Unamortized debt discount — (5,913 ) (4,191 ) (10,104 ) Net carrying amount $ 27,343 $ 77,374 $ 74,972 $ 179,689 Reported as: Short-term debt $ 6,162 Long-term debt 173,527 Total debt $ 179,689 (1) Unamortized debt costs of $0.8 million recorded in other assets on the consolidated balance sheet. June 30, 2020 Revolving Credit Facility 3.75% Convertible Notes Term Loan Facility Total Carrying amount of equity conversion component $ — $ 14,650 $ — $ 14,650 Principal amount of the Notes $ 28,001 $ 85,000 $ 89,093 $ 202,094 Unamortized debt costs — (1,922 ) (874 ) (2,796 ) Unamortized debt discount — (6,680 ) (3,311 ) (9,991 ) Net carrying amount $ 28,001 $ 76,398 $ 84,908 $ 189,307 Reported as: Short-term debt $ — Long-term debt 189,307 Total debt $ 189,307 A summary of interest expense on the Notes and Credit Facilities is as follows (in thousands): Three Months Ended September 30, 2020 2019 Interest expense related to contractual interest coupon $ 2,785 $ 2,862 Interest expense related to amortization of debt discount 1,241 965 Interest expense related to amortization of debt issuance costs 357 329 $ 4,383 $ 4,156

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 11. Share-Based Compensation The following table presents details of share-based compensation expenses by functional line item (in thousands): Three Months Ended September 30, 2020 2019 Cost of revenue $ 261 $ 374 Research and development 407 372 Selling and marketing 339 (24 ) General and administrative 1,237 978 $ 2,244 $ 1,700

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	3 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Note 12. Net Income (Loss) Per Common Share The Company reports both basic and diluted loss per share, which is based on the weighted average number of common shares outstanding during the period. A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per common share follows (in thousands): Three Months Ended September 30, 2020 2019 Numerator: Net income (loss) $ 402 $ (9,356 ) Denominator: Weighted average shares outstanding - basic 91,194 88,772 Dilutive effect of potential common shares 487 — Weighted average shares outstanding - diluted 91,681 88,772 Basic net income (loss) per share $ 0.00 $ (0.11 ) Diluted net income (loss) per share $ 0.00 $ (0.11 ) The potentially dilutive shares of the Company’s common stock resulting from the assumed exercise of outstanding stock options; the vesting of Restricted Stock Units (RSUs), Market Stock Units (MSUs) and Performance Stock Units (PSUs), and the purchase of shares under the Employee Stock Purchase Program (ESPP), as determined under the treasury stock method, are included in the calculation of diluted net income per share only if their inclusion is dilutive. Additionally, the 3.75% Convertible Notes are included in the calculation of diluted net income per share only if their inclusion is dilutive for periods during which the notes were outstanding. The following table sets forth all potentially dilutive securities excluded from the computation in the table above because their effect would have been anti-dilutive (in thousands): As of September 30, 2020 2019 Stock options 5,913 4,772 RSUs, PSUs and MSUs 3,092 3,083 9,005 7,855 3.75% Convertible Notes—Diluted Share Impact The 3.75% Convertible Notes have an optional physical (share), cash or combination settlement feature and contain certain conditional conversion features. Due to the optional cash settlement feature and management’s intent to settle the principal amount thereof in cash, the shares of our common stock issuable upon conversion of the outstanding principal amount of the 3.75% Convertible Notes as of September 30, 2020, totaling approximately 14.9 million shares of our common stock, were not included in the basic and diluted net loss per common share table above.

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	Note 13. 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 revenues and long-lived tangible assets by geographic area. 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. Additionally, the Company typically recognizes revenue at a point in time for product revenue and recognizes revenue over time for service revenue. Revenues attributed to a country or region is based on the shipping addresses of the Company’s customers. The following summarizes revenue by geographic region (in thousands): Three Months Ended September 30, 2020 2019 Americas $ 29,388 $ 29,429 Europe, Middle East, India and Africa 28,583 31,600 Asia Pacific 15,208 14,067 Japan 12,153 14,481 Total $ 85,332 $ 89,577 Information regarding geographic areas in which the Company has long-lived tangible assets is as follows (in thousands): September 30, June 30, 2020 2020 Americas $ 12,200 $ 12,807 Europe, Middle East, India and Africa 367 373 Asia Pacific 885 986 Japan 1,088 1,183 Total $ 14,540 $ 15,349

Joint Venture

Joint Venture	3 Months Ended
	Sep. 30, 2020
Equity Method Investments And Joint Ventures [Abstract]
Joint Venture	Note 14. 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. In exchange for a 49% equity interest in the JV, the Company, through Accuray Asia, made in-kind capital contributions of two full radiation oncology systems from the Company’s inventory in the quarter ended December 31, 2019 and one system upgrade, which was not to be sold and only be used for training purposes, in the quarter ended September 30, 2020. The investments are reported as an Investment in joint venture on the Company’s consolidated balance sheets. During the quarter ended December 31, 2019, the Company recognized non-operating gain of $13.0 million related to the value of the capital contribution made during the quarter ended December 31, 2019 to the JV, which was recorded in other income. The As of September 30, 2020, the Company had a carrying value of $15.6 million in the JV and owned a 49% interest in the entity. The Company’s proportional share of the underlying equity in net assets of the JV was approximately $12.3 million. The difference represents equity method goodwill. The carrying value of the Company’s investment in the JV was decreased by $1.5 million during the quarter ended September 30, 2020 as result of intra-entity profit that was not considered in the goodwill assessment. The difference between the carrying value of the JV and value of its underlying equity in net assets of the JV of $3.3 million increased by the $1.5 million of eliminated profit constitutes equity method goodwill of $4.8 million, which is subject to impairment analysis. No impairment was identified as of September 30, 2020.

Income Tax

Income Tax	3 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax	Note 15. Income Tax 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 of $0.3 million and $0.6 million for the three months ended September 30, 2020 and 2019, respectively, primarily related to foreign taxes. 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 2021. In addition to the GILTI provision, the Tax Act also enacted the Base Erosion and Anti-Abuse Tax (“BEAT”). The BEAT minimum tax under IRC Section 59A is applicable to the extent that the BEAT tax amount is greater than the regular corporate tax for a given year. This tax is applicable to companies with prior 3-year average annual gross receipts exceeding $500 million. The Company does not currently meet this threshold since its current average annual gross receipts are less than $500 million. The Company does not expect its gross unrecognized tax benefits of $17.0 million to change significantly over the next 12 months. In addition, these unrecognized tax benefits would not affect the Company’s income tax expense before consideration of any valuation allowance. Interest and penalties accrued on unrecognized tax benefits is recorded as a component of income tax expense.

The Company and its Significa_2

The Company and its Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
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 inter-company 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 (“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 months ended September 30, 2020 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2021, 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, 2020 included in the Company’s Annual Report on Form 10-K filed with the SEC on August 25, 2020.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to risks and uncertainties as a result of the coronavirus disease 2019 (“COVID-19”) pandemic. The extent of the impact of the COVID-19 pandemic on the Company's business is highly uncertain and difficult to predict, as the effects of and response to the pandemic are rapidly evolving and new information is regularly coming to light. The Company's customers are diverting resources to treat COVID-19 patients and deferring non-urgent and elective procedures, both of which are likely to impact customers' ability to meet their other financial obligations, including to the Company. Some customers, which include hospitals, major academic medical centers, and other related entities, have incurred significant losses during the COVID-19 pandemic due to reduced patient volume. Furthermore, the Company is also anticipating a global economic slowdown due to disruptions caused by the COVID-19 pandemic, which may result in an incremental adverse impact on revenue, net income and cash flow and may require significant additional expenditures to mitigate such impacts. Policymakers around the globe have responded with fiscal policy actions to support the healthcare industry and economy as a whole. The magnitude and overall effectiveness of these actions remain uncertain. The Company’s financial results have also been affected by the COVID-19 pandemic in various ways. The COVID-19 pandemic is adversely impacting the pace at which the backlog converts to revenue in the near-term. This is primarily the result of delays in the timing of deliveries and installations in fiscal 2020 and into the first quarter of fiscal 2021 due to timing delays caused by the COVID-19 pandemic, which resulted in a decline in revenue for the same period. The Company expects that such delays in deliveries and installations will continue through fiscal 2021, which could continue to have a negative impact on revenue during such period. The Company has experienced disruptions in its sales and revenue cycle as well as increases in customer defaults, delays in payment and planned installations and service agreements as a result of the effect of the COVID-19 pandemic on the Company’s customers as well as restrictions imposed on travel. The Company also received requests from a few customers to extend payment terms or temporarily suspend service and corresponding payment obligations. While the Company has only received a small number of requests thus far, there can be no guarantee that more customers will not ask for the same if the effects of the COVID-19 pandemic deepen or worsen. As a result, the Company is carefully monitoring the pandemic and the resulting length and depth of the economic impact on our financial condition and results of operations. Given the uncertainty regarding the spread and resurgence of COVID-19 and how long the pandemic will last, the related financial impact cannot be reasonably estimated at this time, although the impacts are expected to continue and may also significantly affect the Company’s business. The Company continues to critically review its liquidity and anticipated capital requirements in light of the significant uncertainty created by the COVID-19 pandemic. 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. However, the Company is unable to predict with certainty the impact of the COVID-19 pandemic on its ability to maintain compliance with the debt covenants contained in the credit and security agreements related to its Revolving Credit Facility and Term Loan (as such terms are defined in Note 10 below), including financial covenants regarding the fixed charge coverage ratio, minimum net revenue, minimum consolidated cash balance and minimum consolidated domestic cash balance tests. The Company was in compliance with such covenants for the quarter ended September 30, 2020, as amended. 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 amendments to the applicable credit and security 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 amendment 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 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 and the unknown future impacts of the COVID-19 pandemic. Key estimates and assumptions made by the Company relate to revenue recognition, assessment of recoverability of goodwill and intangible assets, valuation of our equity method investment in the JV, valuation of inventories, share based compensation expense, convertible notes, income taxes, allowance for doubtful accounts and loss contingencies. Actual results could differ materially from those estimates.
Significant Accounting Policies	Significant Accounting Policies Other than the policy adoption discussed below under Accounting Pronouncements Recently Adopted, .

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Sep. 30, 2020
Accounting Pronouncement Recently Adopted
Accounting Pronouncements	Accounting Pronouncement Recently Adopted In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company adopted this update effective July 1, 2020 and the implementation of this update did not have a material impact on its consolidated financial position, results of operations or cash flows. In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808) to clarify revenue accounting for collaborative arrangements entered into with customers. The Company adopted this standard effective July 1, 2020. The adoption of this standard had no impact on our condensed consolidated financial statements and disclosure.
Accounting Pronouncements Not Yet Effective
Accounting Pronouncements	Accounting Pronouncements Not Yet Effective In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying Accounting for Income Taxes (“ASU 2019-12”). The amendments in ASU 2019-12 are intended to simplify various aspects related to accounting for income taxes and reduce the cost of accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning July 1, 2021 with early adoption permitted. The Company is evaluating the impact of adopting this standard to its consolidated financial statements and related disclosures. In January 2020, the FASB issued ASU 2020-01 Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. This guidance addresses accounting for the transition into and out of the equity method and provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities. This standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2020-01, which is effective for the Company in its fiscal year and interim periods beginning on July 1, 2021, to its consolidated financial statements and related disclosures. In March 2020, the FASB issued an update (“ASU 2020-04”) establishing Accounting Standards Codification (“ASC”) Topic 848, Reference Rate Reform. ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The Company is currently evaluating the impact of the guidance and our options related to the practical expedients.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Summary of Contract with Customer, Asset and Liability	Changes in the contract assets and contract liabilities are as follows: September 30, 2020 June 30, 2020 (Dollars in thousands) Amount Amount Contract Assets: Unbilled accounts receivable – current (1) $ 12,093 $ 11,739 Interest receivable – current (2) 583 493 Long-term accounts receivable (3) 3,429 3,810 Interest receivable – non-current (3) 1,286 1,342 Contract Liabilities: Customer advances 16,712 22,571 Deferred revenue – current 81,344 83,207 Deferred revenue – non-current 24,406 24,125 (1) Included in accounts receivable on the Company’s consolidated balance sheet (2) Included in prepaid expenses and other current assets on the Company’s consolidated balance sheet ( 3 ) Included in other assets on the Company’s consolidated balance sheet
Schedule of Remaining Performance Obligations related to Warranty	The following table represents the Company's remaining performance obligations related to long-term warranty and service as of September 30, 2020 and the estimated revenue expected to be recognized: Fiscal years of revenue recognition (Dollars in thousands) 2021 2022 2023 Thereafter Long-term warranty and service $ 29,526 $ 25,530 $ 13,054 $ 10,550

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	3 Months Ended
	Sep. 30, 2020
Supplemental Financial Information Disclosure [Abstract]
Schedule of financing receivables	A summary of the Company’s financing receivables is presented as follows (in thousands): September 30, 2020 June 30, 2020 Gross $ 13,042 $ 13,019 Residual value — — Unearned income (1,805 ) (1,774 ) Allowance for credit loss (4,380 ) (4,369 ) Total, net $ 6,857 $ 6,876 Reported as: Current $ 3,337 $ 3,084 Non-current 3,520 3,792 Total, net $ 6,857 $ 6,876
Schedule of inventories, net	Inventories, net consisted of the following (in thousands): September 30, 2020 June 30, 2020 Raw materials $ 57,168 $ 48,037 Work-in-process 17,722 17,798 Finished goods 66,127 68,539 Inventories, net $ 141,017 $ 134,374
Schedule of property and equipment, net	Property and equipment, net consisted of the following (in thousands): September 30, 2020 June 30, 2020 Furniture and fixtures $ 1,869 $ 1,961 Computer and office equipment 10,486 10,896 Software 11,493 11,606 Leasehold improvements 26,082 26,206 Machinery and equipment 48,524 48,830 Construction in progress 800 623 99,254 100,122 Less: Accumulated depreciation (84,714 ) (84,773 ) Property and equipment, net $ 14,540 $ 15,349
Schedule of accumulated other comprehensive income (loss) in the equity section	The components of accumulated other comprehensive income (loss) in the equity section of the Company’s condensed consolidated balance sheet are as follows (in thousands): September 30, 2020 June 30, 2020 Cumulative foreign currency translation adjustment $ 2,240 $ 752 Defined benefit pension obligation (1,231 ) (1,236 ) Accumulated other comprehensive income (loss) $ 1,009 $ (484 )

Leases (Tables)

Leases (Tables)	3 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities as of September 30, 2020 are presented in the table below (in thousands): Year Ending June 30, Amount 2021 (remaining 9 months) $ 7,171 2022 9,311 2023 8,676 2024 5,922 2025 3,032 Thereafter — Total operating lease payments 34,112 Less: imputed interest (3,136 ) Present value of operating lease liabilities $ 30,976 Weighted average remaining lease term (in years) 3.88 Weighted average discount rate 5.28 %

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Activity related to goodwill consisted of the following (in thousands): September 30, 2020 June 30, 2020 Balance at the beginning of the period $ 57,717 $ 57,770 Currency translation 117 (53 ) Balance at the end of the period $ 57,834 $ 57,717
Schedule of carrying amount of acquired intangible assets, net	The Company’s carrying amount of acquired intangible assets, net, is as follows (in thousands): September 30, 2020 June 30, 2020 Useful Lives Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount (in years) Patent license 2 - 7 $ 1,170 $ (564 ) $ 606 $ 1,170 $ (507 ) $ 663
Schedule of estimated future amortization expense of acquired intangible assets	The estimated future amortization expense of acquired intangible assets as of September 30, 2020 is as follows (in thousands): Year Ending June 30, Amount 2021 (remaining 9 months) $ 171 2022 185 2023 143 2024 107 $ 606

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Sep. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of gain (loss) associated with the Company's derivative financial instruments	The following table provides information about gain (loss) associated with the Company’s derivative financial instruments (in thousands): Three Months Ended September 30, Three Months Ended September 30, 2020 2019 Foreign currency exchange gain (loss) on foreign contracts $ (910 ) $ 118 Foreign currency transactions gain (loss) 404 (538 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of carrying values and estimated fair values of short-term and long-term debt	The following table summarizes the carrying value and estimated fair value of the Credit Facilities and the 3.75% Convertible Notes (in thousands): September 30, 2020 June 30, 2020 Carrying Value Fair Value Carrying Value Fair Value 3.75% Convertible Notes $ 77,374 $ 73,746 $ 76,398 $ 65,272 Term Loan Facility 74,972 74,972 84,908 84,908 Revolving Credit Facility 27,343 27,343 28,001 28,001 Total $ 179,689 $ 176,061 $ 189,307 $ 178,181

Debt (Tables)

Debt (Tables)	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of carrying values of all Debt	The following table presents the carrying value of the Revolving Credit Facility, the 3.75% Convertible Notes, and the Term Loan (together, the “Notes”) (in thousands): As of September 30, 2020 Revolving Credit Facility (1) 3.75% Convertible Notes Term Loan Facility Total Carrying amount of equity conversion component $ — $ 14,650 $ — $ 14,650 Principal amount of the Notes $ 27,343 $ 85,000 $ 79,948 $ 192,291 Unamortized debt costs — (1,713 ) (785 ) (2,498 ) Unamortized debt discount — (5,913 ) (4,191 ) (10,104 ) Net carrying amount $ 27,343 $ 77,374 $ 74,972 $ 179,689 Reported as: Short-term debt $ 6,162 Long-term debt 173,527 Total debt $ 179,689 (1) Unamortized debt costs of $0.8 million recorded in other assets on the consolidated balance sheet. June 30, 2020 Revolving Credit Facility 3.75% Convertible Notes Term Loan Facility Total Carrying amount of equity conversion component $ — $ 14,650 $ — $ 14,650 Principal amount of the Notes $ 28,001 $ 85,000 $ 89,093 $ 202,094 Unamortized debt costs — (1,922 ) (874 ) (2,796 ) Unamortized debt discount — (6,680 ) (3,311 ) (9,991 ) Net carrying amount $ 28,001 $ 76,398 $ 84,908 $ 189,307 Reported as: Short-term debt $ — Long-term debt 189,307 Total debt $ 189,307
Summary of interest expense on Notes and Credit Facilities	A summary of interest expense on the Notes and Credit Facilities is as follows (in thousands): Three Months Ended September 30, 2020 2019 Interest expense related to contractual interest coupon $ 2,785 $ 2,862 Interest expense related to amortization of debt discount 1,241 965 Interest expense related to amortization of debt issuance costs 357 329 $ 4,383 $ 4,156

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of share-based compensation expenses by functional line item	The following table presents details of share-based compensation expenses by functional line item (in thousands): Three Months Ended September 30, 2020 2019 Cost of revenue $ 261 $ 374 Research and development 407 372 Selling and marketing 339 (24 ) General and administrative 1,237 978 $ 2,244 $ 1,700

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	3 Months Ended
	Sep. 30, 2020
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 loss per common share follows (in thousands): Three Months Ended September 30, 2020 2019 Numerator: Net income (loss) $ 402 $ (9,356 ) Denominator: Weighted average shares outstanding - basic 91,194 88,772 Dilutive effect of potential common shares 487 — Weighted average shares outstanding - diluted 91,681 88,772 Basic net income (loss) per share $ 0.00 $ (0.11 ) Diluted net income (loss) per share $ 0.00 $ (0.11 )
Schedule of all potentially dilutive securities excluded from the computation of basic and diluted net income (loss) per common share	The following table sets forth all potentially dilutive securities excluded from the computation in the table above because their effect would have been anti-dilutive (in thousands): As of September 30, 2020 2019 Stock options 5,913 4,772 RSUs, PSUs and MSUs 3,092 3,083 9,005 7,855

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Summary of Revenue by Geographic Region	Revenues attributed to a country or region is based on the shipping addresses of the Company’s customers. The following summarizes revenue by geographic region (in thousands): Three Months Ended September 30, 2020 2019 Americas $ 29,388 $ 29,429 Europe, Middle East, India and Africa 28,583 31,600 Asia Pacific 15,208 14,067 Japan 12,153 14,481 Total $ 85,332 $ 89,577
Schedule of Geographic Areas in Which the Company has Long Lived Tangible Assets	Information regarding geographic areas in which the Company has long-lived tangible assets is as follows (in thousands): September 30, June 30, 2020 2020 Americas $ 12,200 $ 12,807 Europe, Middle East, India and Africa 367 373 Asia Pacific 885 986 Japan 1,088 1,183 Total $ 14,540 $ 15,349

Revenue -Summary of Contract wi

Revenue -Summary of Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Jun. 30, 2020
Contract Assets:
Unbilled accounts receivable - current	[1]	$ 12,093	$ 11,739
Interest receivable – current	[2]	583	493
Long-term accounts receivable	[3]	3,429	3,810
Interest receivable - non-current	[3]	1,286	1,342
Contract Liabilities:
Customer advances		16,712	22,571
Deferred revenue – current		81,344	83,207
Deferred revenue – non-current		$ 24,406	$ 24,125
[1]	Included in accounts receivable on the Company’s consolidated balance sheet
[2]	Included in prepaid expenses and other current assets on the Company’s consolidated balance sheet
[3]	Included in other assets on the Company’s consolidated balance sheet

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Recognition of deferred revenue	$ 8.8	$ 11.2
Remaining performance obligations amount	$ 984.9
Percentage of changes in operating results on entity's revenue	23.00%
Capitalized contract cost, amortization period	5 years
Capitalized costs to obtain a contract	$ 7.4		$ 7.9
Capitalized contract cost, amortization	0.7	0.5
Impairment loss	0.1	$ 0.1
Long-term Warranty and Service
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations amount	78.7
Performance Obligations Other Than Warrant
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations amount	$ 906.2

Revenue - Schedule of Remaining

Revenue - Schedule of Remaining Performance Obligations related to Warranty (Details) - Long-term Warranty and Service $ in Thousands	Sep. 30, 2020USD ($)
2021	$ 29,526
2022	25,530
2023	13,054
Thereafter	$ 10,550

Revenue - Additional Informat_2

Revenue - Additional Information (Details1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01	Sep. 30, 2020
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations recognized period	30 months
Minimum
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations percentage	21.00%
Maximum
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations percentage	28.00%

Supplemental Financial Inform_3

Supplemental Financial Information - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Financing receivables
Accounts receivable with contractual maturities of more than one year	$ 3,520		$ 3,792
Allowance for credit loss	4,380		$ 4,369
Property and equipment, net
Depreciation expense	$ 1,600	$ 1,800

Supplemental Financial Inform_4

Supplemental Financial Information - Summary of Financing Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Financing receivables
Gross	$ 13,042	$ 13,019
Unearned income	(1,805)	(1,774)
Allowance for credit loss	(4,380)	(4,369)
Total, net	6,857	6,876
Current	3,337	3,084
Non-current	$ 3,520	$ 3,792

Supplemental Financial Inform_5

Supplemental Financial Information - Summary of Inventories, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Inventory Net [Abstract]
Raw materials	$ 57,168	$ 48,037
Work-in-process	17,722	17,798
Finished goods	66,127	68,539
Inventories, net	$ 141,017	$ 134,374

Supplemental Financial Inform_6

Supplemental Financial Information - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Property and equipment, net
Property and equipment, gross	$ 99,254	$ 100,122
Less: Accumulated depreciation	(84,714)	(84,773)
Property and equipment, net	14,540	15,349
Furniture and Fixtures
Property and equipment, net
Property and equipment, gross	1,869	1,961
Computer and Office Equipment
Property and equipment, net
Property and equipment, gross	10,486	10,896
Software
Property and equipment, net
Property and equipment, gross	11,493	11,606
Leasehold Improvements
Property and equipment, net
Property and equipment, gross	26,082	26,206
Machinery and Equipment
Property and equipment, net
Property and equipment, gross	48,524	48,830
Construction in Progress
Property and equipment, net
Property and equipment, gross	$ 800	$ 623

Supplemental Financial Inform_7

Supplemental Financial Information - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss)
Cumulative foreign currency translation adjustment	$ 2,240	$ 752
Defined benefit pension obligation	(1,231)	(1,236)
Accumulated other comprehensive income (loss)	$ 1,009	$ (484)

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)
Leases [Abstract]
Operating lease costs	$ 2.4
Short-term operating lease costs	0.1
Cash paid for amounts included in the measurement of operating lease liabilities	2.4
Operating lease liabilities arising from obtaining operating right of-use assets	$ 0.2

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Sep. 30, 2020USD ($)
Leases [Abstract]
2021 (remaining 9 months)	$ 7,171
2022	9,311
2023	8,676
2024	5,922
2025	3,032
Total operating lease payments	34,112
Less: imputed interest	(3,136)
Present value of operating lease liabilities	$ 30,976
Weighted average remaining lease term (in years)	3 years 10 months 17 days
Weighted average discount rate	5.28%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 57,717	$ 57,770
Currency translation	117	(53)
Balance at the end of the period	$ 57,834	$ 57,717

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended			12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2020	Jun. 30, 2017
Finite Lived Intangible Assets [Line Items]
Impairment of goodwill				$ 0
Amortization expense	$ 60,000		$ 40,000
Patent license
Finite Lived Intangible Assets [Line Items]
Purchase of intangible assets		$ 170,000
Useful Lives		2 years			7 years
COVID-19 Pandemic
Finite Lived Intangible Assets [Line Items]
Impairment of goodwill	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Carrying Amount of Acquired Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Jun. 30, 2017	Jun. 30, 2020
Finite Lived Intangible Assets [Line Items]
Net Amount	$ 606			$ 663
Patent license
Finite Lived Intangible Assets [Line Items]
Useful Lives		2 years	7 years
Gross Carrying Amount	1,170			1,170
Accumulated Amortization	(564)			(507)
Net Amount	$ 606			$ 663
Patent license | Minimum
Finite Lived Intangible Assets [Line Items]
Useful Lives	2 years
Patent license | Maximum
Finite Lived Intangible Assets [Line Items]
Useful Lives	7 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Estimated future amortization expense of purchased intangible assets
2021 (remaining 9 months)	$ 171
2022	185
2023	143
2024	107
Net Amount	$ 606	$ 663

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) - contract	Sep. 30, 2020	Jun. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Outstanding foreign currency contracts (number of contracts)	0	0

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Gain (Loss) Associated with the Company's Derivative Financial Instruments (Details) - Other expense, net - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Foreign currency exchange gain (loss) on foreign contracts	$ 404	$ (538)
Foreign contracts
Foreign currency exchange gain (loss) on foreign contracts	$ (910)	$ 118

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Aug. 31, 2017
Financial assets
Cash and cash equivalents	$ 89,955	$ 107,577
3.75% Convertible Notes
Financial assets
Interest rate (as a percent)	3.75%	3.75%	3.75%

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Carrying Value and Estimated Fair Value of all Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Carrying Value
Fair value measurement
Long term debt	$ 179,689	$ 189,307
Fair Value
Fair value measurement
Long term debt	176,061	178,181
Non-recurring basis | Carrying Value | Level 2 | 3.75% Convertible Notes
Fair value measurement
Long term debt	77,374	76,398
Non-recurring basis | Fair Value | Level 2 | 3.75% Convertible Notes
Fair value measurement
Long term debt	73,746	65,272
Term loan | Non-recurring basis | Carrying Value | Level 2
Fair value measurement
Long term debt	74,972	84,908
Term loan | Non-recurring basis | Fair Value | Level 2
Fair value measurement
Long term debt	74,972	84,908
Revolving Credit Facility | Non-recurring basis | Carrying Value | Level 2
Fair value measurement
Long term debt	27,343	28,001
Revolving Credit Facility | Non-recurring basis | Fair Value | Level 2
Fair value measurement
Long term debt	$ 27,343	$ 28,001

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Carrying Value and Estimated Fair Value of all Debt (Parenthetical) (Details)	Sep. 30, 2020	Jun. 30, 2020	Aug. 31, 2017
3.75% Convertible Notes
Fair value measurement
Interest rate (as a percent)	3.75%	3.75%	3.75%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Financial Guarantee
Loss Contingencies [Line Items]
Bank guarantees	$ 1.3	$ 1

Debt - Additional Information (

Debt - Additional Information (Details)

Jun. 14, 2017USD ($)

Jul. 31, 2020USD ($)

Aug. 31, 2019USD ($)

Jul. 31, 2019

May 31, 2019USD ($)

Apr. 30, 2019

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Sep. 30, 2020USD ($)$ / shares

Sep. 30, 2019

Jun. 30, 2020USD ($)

Aug. 31, 2017USD ($)

Debt

Common stock value

$ 91,000

$ 91,000

Principal amount of the Notes

192,291,000

202,094,000

Debt discount costs

10,104,000

9,991,000

Principal prepayment of term loan

10,000,000

Term Loan Facility due December 2022

Debt

Principal amount of the Notes

79,948,000

89,093,000

Debt discount costs

4,191,000

3,311,000

Term Loan Agreement

Debt

Principal prepayment of term loan

$ 10,000,000

Amendment fee

$ 500,000

Revolving Credit Facility

Debt

Principal amount of the Notes

27,343,000

[1]

$ 28,001,000

Initial borrowing capacity

$ 52,000,000

Minimum drawn balance (as a percent)

30.00%

Outstanding revolving credit facility

27,300,000

Revolving Credit Facility | Revolving Credit Agreement

Debt

Reduced borrowing capacity

$ 32,000,000

Term loan

Debt

Principal amount of the Notes

$ 79,900,000

Term loan | Term Loan Facility due December 2022

Debt

Initial term loan borrowing capacity

40,000,000

Additional term loan borrowing capacity

$ 20,000,000

Loan prepayment fees for first year (percentage)

3.00%

Loan prepayment fees for second year (percentage)

2.00%

Loan prepayment fees for third year (percentage)

1.00%

Term Loan (in months)

60 months

Term of interest payable (in months)

24 months

Administrative fee payable on term loan as a percentage

0.25%

Final payment of administrative fee payable on term loan as a percentage

4.00%

Debt instrument amount withdrawn

$ 5,000,000

Debt instrument scheduled commitment extended termination date

Jun. 30, 2019

Debt instrument remaining unfunded commitment amount

$ 15,000,000

Term loan | Term Loan Facility Due May 2024

Debt

Debt instrument increased commitment amount

$ 25,000,000

$ 500,000

Debt discount costs

$ 1,600,000

$ 1,500,000

90-day LIBOR | Revolving Credit Facility

Debt

Interest rate determination basis

90-day LIBOR

Variable rate (as a percent)

4.50%

3.50%

4.50%

90-day LIBOR | Term loan | Term Loan Facility due December 2022

Debt

Interest rate determination basis

90-day LIBOR

Variable rate (as a percent)

6.75%

90-day LIBOR | Term loan | Term Loan Facility Due May 2024

Debt

Interest rate determination basis

90-day LIBOR

90-day LIBOR

Variable rate (as a percent)

6.75%

5.50%

5.50%

6.75%

3.75% Convertible Senior Notes due 2022

Debt

Interest rate (as a percent)

3.75%

3.75%

3.75%

Conversion rate, number of shares to be issued per $1000 of principal amount (in shares)

174.8252

Principal amount used for debt instrument conversion ratio

$ 1,000

Conversion price (in dollars per share) | $ / shares

$ 5.72

Aggregate principal amount of debt issued

$ 85,000,000

Repurchase price, as a percentage of the principal amount, in the event of a fundamental change, as defined in Indenture

100.00%

Principal amount of the Notes

$ 85,000,000

$ 85,000,000

Debt discount costs

$ 5,913,000

$ 6,680,000

[1]

Unamortized debt costs of $0.8 million recorded in other assets on the consolidated balance sheet.

Debt - Schedule of Carrying Val

Debt - Schedule of Carrying Values of All Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020		Jun. 30, 2020
Debt
Carrying amount of equity conversion component	$ 14,650		$ 14,650
Principal amount of the Notes	192,291		202,094
Unamortized debt costs	(2,498)		(2,796)
Unamortized debt discount	(10,104)		(9,991)
Net carrying amount	179,689		189,307
Reported as:
Short-term debt	6,162
Long-term debt	173,527		189,307
Net carrying amount	179,689		189,307
Revolving Credit Facility
Debt
Principal amount of the Notes	27,343	[1]	28,001
Net carrying amount	27,343	[1]	28,001
Reported as:
Net carrying amount	27,343	[1]	28,001
3.75% Convertible Senior Notes due 2022
Debt
Carrying amount of equity conversion component	14,650		14,650
Principal amount of the Notes	85,000		85,000
Unamortized debt costs	(1,713)		(1,922)
Unamortized debt discount	(5,913)		(6,680)
Net carrying amount	77,374		76,398
Reported as:
Net carrying amount	77,374		76,398
Term Loan Facility due December 2022
Debt
Principal amount of the Notes	79,948		89,093
Unamortized debt costs	(785)		(874)
Unamortized debt discount	(4,191)		(3,311)
Net carrying amount	74,972		84,908
Reported as:
Net carrying amount	$ 74,972		$ 84,908
[1]	Unamortized debt costs of $0.8 million recorded in other assets on the consolidated balance sheet.

Debt - Schedule of Carrying V_2

Debt - Schedule of Carrying Values of All Debt (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Debt
Unamortized debt costs	$ 2,498	$ 2,796
Revolving Credit Facility | Other Assets
Debt
Unamortized debt costs	$ 800

Debt - Summary of Interest Expe

Debt - Summary of Interest Expense on Notes and Credit Facilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Debt Disclosure [Abstract]
Interest expense related to contractual interest coupon	$ 2,785	$ 2,862
Interest expense related to amortization of debt discount	1,241	965
Interest expense related to amortization of debt issuance costs	357	329
Total	$ 4,383	$ 4,156

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Share-Based Compensation Expenses by Functional Line Item (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based compensation expenses
Share-based compensation expense	$ 2,244	$ 1,700
Cost of revenue
Share-based compensation expenses
Share-based compensation expense	261	374
Research and development
Share-based compensation expenses
Share-based compensation expense	407	372
Selling and marketing
Share-based compensation expenses
Share-based compensation expense	339	(24)
General and administrative
Share-based compensation expenses
Share-based compensation expense	$ 1,237	$ 978

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 income (loss) per common share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net income (loss)	$ 402	$ (9,356)
Denominator:
Weighted average shares outstanding - basic	91,194	88,772
Dilutive effect of potential common shares	487
Weighted average shares outstanding - diluted	91,681	88,772
Basic net income (loss) per share	$ 0	$ (0.11)
Diluted net income (loss) per share	$ 0	$ (0.11)

Net Income (Loss) Per Common _4

Net Income (Loss) Per Common Share - Additional Information (Details) - 3.75% Convertible Senior Notes due 2022 - shares shares in Millions	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Aug. 31, 2017
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Interest rate (as a percent)	3.75%	3.75%	3.75%
Common stock not included in the calculation of potentially diluted shares	14.9

Net Income (Loss) Per Common _5

Net Income (Loss) Per Common Share - Schedule of all potentially dilutive securities excluded from the computation of basic and diluted net income (loss) per common share (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted net income (loss) per share (in shares)	9,005	7,855
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted net income (loss) per share (in shares)	5,913	4,772
RSUs, PSUs and MSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted net income (loss) per share (in shares)	3,092	3,083

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
	Sep. 30, 2020segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Segment Information - Summary o

Segment Information - Summary of Revenue by Geographic Region (Details) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2020	Sep. 30, 2019
Segment Information
Total net revenue	[1]	$ 85,332	$ 89,577
Americas
Segment Information
Total net revenue		29,388	29,429
Europe, Middle East, India and Africa
Segment Information
Total net revenue		28,583	31,600
Asia Pacific
Segment Information
Total net revenue		15,208	14,067
Japan
Segment Information
Total net revenue		$ 12,153	$ 14,481
[1]	Includes sales to the China joint venture, an equity method investment of $4,951 and $3,817 for three months ended September 30, 2020 and 2019, respectively. See Note 14.

Segment Information - Schedule

Segment Information - Schedule of Geographic Areas in Which the Company has Long-Lived Tangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Segment Information
Long lived tangible assets	$ 14,540	$ 15,349
Americas
Segment Information
Long lived tangible assets	12,200	12,807
Europe, Middle East, India and Africa
Segment Information
Long lived tangible assets	367	373
Asia Pacific
Segment Information
Long lived tangible assets	885	986
Japan
Segment Information
Long lived tangible assets	$ 1,088	$ 1,183

Joint Venture - Additional Info

Joint Venture - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Jan. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Accumulated deficit	$ (481,311,000)		$ (481,713,000)
Goodwill	$ 57,834,000		57,717,000	$ 57,770,000
Impairment of goodwill			0
Accuray Asia
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest in joint venture	49.00%				49.00%
Gain on contribution to joint venture		$ 13,000,000
Non cash revenue recognized from joint venture	$ 1,400,000
Joint venture associated costs	200,000
Deferred of intra-entity profit margin	1,500,000		$ 1,800,000
Previously deferred intra-entity margin from system sales	1,000,000
Deferral of intra entity margin from system sales	700,000
Accumulated deficit	200,000
Equity method investment	15,600,000
Proportional share of underlying equity in net assets	12,300,000
Equity method investment, intra-entity profit	1,500,000
Difference in equity method investment	3,300,000
Elimination of equity method investment intra-entity profit on sales	1,500,000
Goodwill	4,800,000
Impairment of goodwill	$ 0

Income Tax - Additional Informa

Income Tax - Additional Information (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2020USD ($)Year	Sep. 30, 2019USD ($)
Income Taxes [Line Items]
Income tax expense	$ 344	$ 637
Number of prior years with gross receipt eligible for BEAT minimum tax | Year	3
Gross unrecognized tax benefits	$ 17,000
Subsequent period within which no material changes in unrecognized tax benefits are expected	12 months
Minimum
Income Taxes [Line Items]
Average annual prior gross receipts threshold amount for exemption from base erosion and anti abuse tax	$ 500,000
Foreign
Income Taxes [Line Items]
Income tax expense	$ 300	$ 600