Earnings call transcript Q3 2023

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Operator

Good day, and welcome to the Accuray Third Quarter Fiscal 2023 Financial Results Conference Call.

All participants will be in listen-only mode for the duration of the call. [Operator Instructions] After today’s presentation there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded today.

I would now like to turn the conference over to Chief Legal Officer, Jesse Chew. ahead. go Please

Jesse Chew

and call operator quarter everyone. to XX, Welcome fiscal Thank review good financial conference XXXX. March ended to XXXX, third results Accuray’s year you, which afternoon, for of the

management afternoon this call our will recent corporate review developments. During

Suzanne call Executive Ali Chief Joining Accuray’s President Officer. and Accuray’s are on and Winter, us Pervaiz, Financial today’s Chief Officer;

these cause press may we these Commission. forward-looking or includes forward-looking Exchange today as begin, our that with after call contemplated could that I Before Factors those close Actual to statements. would in results filings differ materially and afternoon, differ release the results you outlined are this implied from well like the our Securities by to just as remind in we issued materially the market statements.

the result to events, on We obligation assume us you this information call any We statements laws. undue securities forward-looking new no a forward-looking should future required of on information date. not Accordingly, on reliance except statements as put today’s base the available forward-looking extent as by of applicable any statements. to update to or

few for housekeeping call. A today’s items

and we during to questions First, participants any then follow-ups. limit re-queue Session that two with themselves the request Q&A

quarter specific to a to the year references quarters. all prepared remarks are in fiscal Second, our

quarter For quarter example, third statements regarding fiscal refer third our XXXX. to our ended March XX,

at Accuray’s page accompany which can call, investor deck be this will going there to Additionally, by directly a supplemental to slide be accessed investors.accuray.com.

Chief Officer, that let the Suzanne? With Suzanne Winter. to turn over Executive me call Accuray’s

Suzanne Winter

call. thank for the Good and Jesse. afternoon you you, Thank joining

market. the I discipline, main forth I to a just meaningful which of therapy above role in efficiencies long-term more our effectively pricing saying priorities: when enormously third are me the compete proud revenue assuming am pleased on profitability under expanding results, set very operational the the who market that achieving in by with ago. start and Let agenda global progress year leveraging demonstrate driving through strategic and growth, Accuray our that I’m laser-focused radiation CEO team of partnerships quarter

quarter, revenue we XX% During year-over-year. grew by this global

We and unit the growth systems manufactured also within representing achieved to a new prior the milestone year a quarter, in period. XX% compared shipped

continue we installation had negative chain, TomoTherapy CyberKnife, our Systems Radixact margins, a for on impact the from demand which face supply customer Although of is headwinds to the and robust.

are customer with ensure Our organization to to to our closely regional their minimize have operations is installations working patients. highest chain and of and converting care collaborating Accuray teams backlog installation. and that disruptions at performing delivery advanced supplier so to more deliver The to into our consistently partners rallied orders levels, our supply institutions with the customers products timely around access

We as for SX. innovations, Accuray are product CyberKnife on experiencing Clear Radixact, demand Synchrony the new fueled and by RT as including products well strong our

Our installed positioning commercial the aging on tools high have to systems customers customers of our performance the precision, base help competitive strong, priority our latest converting and care therapy of their achieve helical is recent robotic radiation and provide in advanced to market. so most the capabilities, generation

product number revenue achieved Japan, product product revenue XXX% XX% by delivered share. almost global America’s revenue than year-over-year, quarter, in product more we In we grew in EIMEA and driven developed XX% the where growth growth markets. market are revenue the doubled, two

their executed systems, in our where increased of China a expanding contracts service Service in revenue. XX% like growth, number driving Expanding significant resulting role installed revenue APAC in revenue markets a by in a base the for Accuray, our growth. strong pillar played critical our Emerging And revenue Global X%. service service CNNC particularly growth team, JV grew is QX, of in in

a system and of consistent book-to-bill year-over-year with our performance. new XX X% with solid X.X growth target units were orders, Orders representing in

to future the to ago, quarter same QX orders some a continued in U.S. delays backlog saw X% purchasing indicating cycles, in Although the we quarters demand U.S. period to order growing within customers. out due of compared U.S. the year push grew region from

Our EBITDA XX% negative which last $X.X line FX, impact despite is our which adjusted In our impacted by versus to $X.X grew strategic profitability margins and a had QX expansion. year-over-year priority next top million driving inflation, million. year

we we average still pricing in the future in we revenue expansion stages quarters. impact for and sales the While our already gross expect reflected prices are early strategic margin in of our orders, higher being seeing of new are actions initiatives, our which margin will results

where headwinds reduce Additionally, Ali capital. areas of are and and helping and our us these efficiencies, current inflation we and in the All improve. accelerate reduce are our positioning profitability us I driving the term when conditions business, and build long environment, FX navigate volatility these term area on from actions improve to while operational waste, review spotlighting in every can of the rigor return macro the to short

worldwide a where of part Accuray’s low. regions is vision, penetration currently technologies in particularly Expanding is technology patient Accuray fundamental access to

In APAC grew the in X% systems China QX, by compared number systems of of its base at grew QX over the region. large installations installed base our install of customers part to last in year. global the by XX end driven by

a calendar market Products with our National the B approval the Regulatory Our Type strong. feature activities in Accuray the for commercial has of product been has C Medical set the is response the designation. year executing CNNC China Tomo from team and for to in been “Made end expected China” at Tomo the product pre-launch Administration KOLs by targeted C

participants year-over-year our of service will systems in help to our The direct. base attending In South very competitive to build XXX operations our to and the commitment go service closer users quarter this XX the target get support we X% believe we to installing replacements were reference technical Six in of new QX we up and by In where improve base. out meeting to indirect from installed to direct in our Japan, growing local Korea, were markets our in transitioning base. decision systems a South clinical first with Korea and XX systems. aligns our busy conducted installed can customers these we commercial over with since XXX

highly This Accuray the the cancer Although, Japan early in in is using course led Chief the a course by a for SBRT prostate in our U.S. from expect Royal Tokyo, tremendous of hands-on Japanese Seth with the a for additional received shorter response, market. course compared interactive Marsden, will with developed which cancer technology and world-class Officer, or NYU and Western adoption faculty phase Medical it Blacksburg. demand Dr. Accuray we along generate penetrated market, treatments In dedicated for is considered prostate SBRT held still Europe. March,

take achieving course We are advanced as of on and customer base, China to clinicians support year-over-year our road next with use committed we EIMEA education the the SBRT largest to X% treatments and driving installed stop. continues be growing milestones. to base the worldwide the care, the plan to to XXX advance on

year solid our in platforms. mentioned demand As the differentiated earlier, for to U.S., ago product compared with doubled customer a revenue

fact, was life. Engineering as in Journal of Society your featured that In seven recently the one robots the CyberKnife save of can of Mechanical

commercial priority and improving our of partnerships strategic scale our Our value customers. leveraging goal final solution for with commercial a is our increasing

teams quarter, joint Healthcare GE joint the together, continues we in with EIMEA U.S. innovation a on workshop In held building oncology commercial working partnership the to multiple customer fronts. our our region Our in are advance strategies. commercial and

and a commercial activities. are funnel seeing We momentum are in building from growth sales combined our

the commitment place Additionally, taking interoperability progressing of of the regions in therapy patient ESTRO and to partnership goal target our radiation Vienna, between well. am the beyond collaboration themes Oncology, in May, at we the the ensuring access available best U.S. early Society open to in I will see excited the And marketing are of each phases expanding unique Radiation areas is other technologies we align companies. our with to within expanding promote finally, to a department our as for of to European treatment.

turn to I performance. Ali, who speak over will our more about financial it will now

Ali Pervaiz

despite our challenges, executed dedication cross-functional Thank chain teams macroeconomic deliver and begin inflationary afternoon an global supply you, of to XXXX, fiscal I third with ongoing everyone. Suzanne the thanking the strong global XX% robust was by and headwinds reported company’s including Net and the the who highest third our a was pressure, unwavering markets. million, quarter FX to good shortages, innovations. our to year in demand revenue up for history, exhibiting for fiscal which quarter quarter in prior compared want revenue non-U.S. $XXX

was Net on a the currency versus $XX a from million, was quarter constant $XXX up same million, period basis basis. up year fiscal constant year. increase revenue prior and on a XX% currency prior for XX% the which third the XX% the Product revenue in represents

last Like this history, chain As work it’s this XX to shipments new of cross-functional the continuing systems, quarter’s in navigate teams. we system of units. shipments achieved XX mentioned, speaks product is the that revenue record to commitment system important of number supply company’s and our to included which ongoing last breaking the Suzanne note which while issues, hard quarter,

Service prior $XX the approximately negative line on target. quarter represented for impact third of X.X impact foreign for X% book-to-bill a X% the and $X.X revenue from a which quarter consistent the million, $XX million, exchange, the with year was in million the which were up for once orders adjusted of up top QX. ratio had our Gross

a period. book-to-bill period ratio the the gross divided for for by defined as orders As is revenue reminder, our product

to to growth Gross We teams our focus of constant to revenue profitable a continue months. ensure backlog basis were $XX convert metric that orders a approximately to orders monitor as the on will our book-to-bill XX within and ratio currency to right million. healthy book

million, we $XX XX% XX representing of orders lower that third within backlog, quarter, aged QX, $XXX representing the year the million ended within had quarter. quarter the months nine of backlog to the to orders. is we beyond than which five $XX back In revenue aged with Moving approximately approximately prior a million into orders due

quarter quarter approximately to the low two cancellations cancellations Finally, with we million. within $X continue see order for

$X.X year-over-year inflationary XX.X% gross gross overall to translates continued X.X of million, the approximately to headwinds, XX.X% the which to of line, gross pressure. with top year compared was pressure quarter $X.X roughly and which impact the prior a in driven decline, pressure for X.X margin points FX translates mainly which had to by of margin million points Our margin

Adjusting for the FX impact of inflation. and

restructuring non-recurring with in fiscal of ERP were charges million million quarter for expenses prior rates third prior margin prior $XX.X in and of line $XX.X gross $X.X and quarter. of Operating are expenditures, to year and ERP included $X.X the the the compared year. Our in million million, which charges third related quarter

expenses same the cost as continue return prioritize total focused we to Excluding investment. were to on to non-recurring down Showcasing the operating teams previous X% push our year. control charges, compared period of

XX% representing period, million was EBITDA for $X.X the compared the Adjusted issued despite growth our the GAAP $X.X We year. negative described and in EBITDA for adjusted million line for today. income the which impacted prior quarter to quarter year reconciliation FX by compared earnings QX. to income $X.X year-over-year the the in prior million headwinds, between Operating was top release from million $X.X $X.X net million our

the reflecting receivable at substantial the Net equivalents million cash were amounted million to from we million, approximately and optimizing $XX million compared regional total of end an and of our last which accounts capital. to restricted $XX balance collections $XX focus is $XX on increase million Turning focused on timely working collections. cash quarter $XX sheet, teams quarter, short to cash, as term last down

our down $XXX improve our cash $X inventory prior drive as bring net was back quarter from balance we inventory million, to position. to levels healthier actions Our to million

EBITDA. in QX strong would’ve which we our a constraints. associated to exchange headwinds to supply XXXX, The have most While had top of million results foreign continue year-to-date down fiscal impact in flowed $XX chain and with navigate adjusted deliver to line

with range FX range that The our million do in of guidance of We and chain full the adjusted end revenue of the $XXX $XX to to an lower $XX headwinds improve supply are reiterating EBITDA not million materially million year QX. $XXX range in over million. assumes

close to continue will as monitor currencies key QX and we out We FY XXXX.

key I’d to to Suzanne. the call Those like are back hand financial highlights that, with and our

Suzanne Winter

Thank Ali. you,

am and I of Accuray in represents position while steady another for teams healthcare believe the are strong still long-term more and in of proud discipline, extremely remain focused of laser we matched highly our innovative our innings quarter all We progress and period making serve radiotherapy operational the demand This effectively journey, teams the we goals. strongest providers for and our against will meaningful while solutions. financial to improving investments on our best-in-class execution team on put a worldwide. strongly customers with early the to making and transform are Accuray the focusing that execution, patients

for operator Q&A. over I it now to will back turn the

Operator

[Operator ahead take first your from question. Lake We’ll go Instructions] Street our Markets. with question, O’Neil Brooks with Capital comes which Please

Brooks O’Neil

just first of to there. us I’m on congratulations you little drill bit just of market quarter. for you little Good Talk the a partner. sort B hoping terrific understand afternoon the that a a environment Type and with macro like in give down your and little about Type I China your the a could would overview growth in just the more a sort little and bit bit joint to what then time schedule A help market you of venture us about the in see expect

Suzanne Winter

we lockdowns is calendar for the question. on commercial that back that of saw is we the milestones. we’re year. And major Tomo open ground. terms have Thank the in our so One, the to you, our continued China to COVID in up, joint of end Brooks would now I starting venture doing at see C to the that’s of get say at from developed Yes, China, product. normal looking joint normal venture Type to course, B back the approval, is get we’re Things efforts the

expecting our in P&L We’re the of back end as at impact result. and year approval FY of really the XXXX the a to calendar half still

Tomo the have that Medical very the They targeted February, floor. are show a major show presentation we’re though and doing say a or be May where China will activities. and sort launch and in we to the first marketing in pre-launch on Meeting KOLs will to out teams I our Equipment expecting the targeted C of did

excited very least set. our at feature from response, we’re And initially the on about KOLs so

business. So our that’ll be an part of important

what other that where A for looking of quotas that’s announcement we’re is the the B. Type The formal thing at us are five-year Type and XXth officially new for plan, the tell they

in A we I the think Type but more we’re want definitions Type B, for information of participate what on getting the both. products a little bit and to

will want you than strong Type market we have market more continue we high Tomo Type share. us effect C to we It’s really know, is but very the A think on to come get we when As not business, to only that. which with a share branding, greater and product. market the historical a halo help That end Type the A, B also XX%

designation, be will And ability is the the to product, Tomo C in made again, joint product, important other it be developed considered only because will our a China thing, venture which for compete.

about milestones that excited and again, two the for at acceleration. looking So, the in we’re those China we’re greater prospects are

Brooks O’Neil

FX Perfect. things could And forward? then Ali, ask if control, I your of just understand that are under three maybe of the expansion in for see margin or the you I what opportunity areas going but impact, two terms biggest

Ali Pervaiz

and up we’re product to obviously OpEx. COGS then really look in focused product out on we’re our mean really tackling expanding continues service getting a past Yes, And our the then of question. from for our Brooks, the in margins, standpoint, focus margins be we’ve and I service back thanks in laid this a our to at pricing, pre-COVID really on which, business and sort focused levels. we’re taking

positive so really indications that you on once those which in go will us expansion accretion on reflect And that’s our going really see putting to in we is our starting revenue. to pricing front are combination on orders we what journey, which backlog, margin are of I all to we’re the into will P&L seeing our help some orders I that think tell the

Brooks O’Neil

very congratulations. much. again, you Thank Great. And

You doing an amazing guys are job.

Suzanne Winter

Thanks, Brook.

Operator

question your Neil Please with question. B ahead from will Our next go Riley. Chatterji come with

Neil Chatterji

and there. for so thanks just taking Japan, on Maybe quarter. congrats and strong strong obviously questions afternoon the Good growth on our

wins successful sounded competitive and course. interactive like had You a the

to in the elaborate might shift that still just just you those could dynamics to SBRT, on maybe it kind early what’s of helping competitive and strength? be there drive while So, that

Suzanne Winter

of employed that have in of developed therapy. Japan, to for that radiation patients. making within clinical It is is Yes, have bringing a I opinion especially these team in Most sure with the that technology work a in radiation we exact fairly Japanese doing strategy the market. terms now, therapy the and tremendous they leaders key think Japan are market. our It associated is advanced advocacy wins, right are the getting penetrated competitive they and

is they in radiation of the shorter therapy. and duration, that’s were why future for think on good the radiation interested powered require advanced SBRT SBRT. incredibly be So does require education training. patients. and is that therapy it’s that We to We sessions, is system, think higher treatment it perform SBRT. but to the confidence reduced to able The supporting obviously clinical healthcare does data it’s reduced It cost

of and more And the little so SBRT application advanced terms do a U.S. the in is we cancer. think prostate of

It we course with year have that’s training, held specific form have incredibly We favors well. course. road and over – was it them adoption we by there we so basically package we course has a to worked China received. going And again, to lot in the every been NYU so demand have of here for the fashion to SBRT is brought well I the And some for take from U.S. fantastic and did really of be so like faculty where we’re a that support or to hands-on what markets practical a that we technology. for going other which it a our as in successful U.S. Accuray SBRT, Winthrop to discussion, that’s Japan think the it that on think high important was

Neil Chatterji

color. one Maybe follow just quick for Thanks that up. Great.

Trial from of positive you’re or terms expect there? expecting PACE just what potential seeing in just the curious So you’re might impact Data, that

Suzanne Winter

Yes.

prostate from because out not it’s it data that the starting the it And tumor data more again but control is and of more also come sure impact making only use think are has there’s clinical long-term an important in long-term technology, on, are what on treated A SBRT again SBRT so pace I is cancer. CyberKnife life to is long-term was reduced patients. Accuray get removal we the time data side technologies. compared patients effects to prostatectomy, the This we quality trial clinical seeing to in particular on And this of prostate. every compared on to specifically, other impact of long-term

just are if their I diagnosed what for prostate more they with discussion options to understand choices really and their that are surgery partner. cancer patients think So and clinical have it with illuminates

Neil Chatterji

jump That’s Great. I’ll me. queue. the back it for in

Operator

BTIG. will with question come question. Please ahead your Marie Thibault next our And from with go

Marie Thibault

Hi, a great the for progress Ali. especially and the good on quarter taking work working questions. and the Suzanne see. Thank nice Congrats on you evening, good on to capital;

you’re I some bit start and little here about, a wanted if that more some a pushing a heard a hear bit a out wanted orders the was of quarter. on sort little the purchase think, that, trend, if to mention here situation what in ask anything one-time was seeing of to I there I about And wider that I delays, ground? or

Suzanne Winter

Thanks we’re in is see no, or we for Yes, is to if this the think the dynamic But watching something see for did I the a that some U.S. question, U.S. orders. more delays Marie. it it temporary proceeds whether in

I sales it little QX, longer think of in vendor that in of lots, taking still their process QX bit to a to we get customers saw but the pushed orders we’re approved. the some not choice

U.S. unique And to the that so was

seeing aren’t the in in We parts world other really that of general.

then of a place One, I there’s for IT different of are think they I there systems. is more that causing taking of off. sure I of think approvals cost sign there’s expensive in the Two, healthcare third, obviously think it, – do look And we at think different couple these so required. the but lot department I cybersecurity before a more areas And with are capital making couple the that a approvals delay. interaction and are more is

sure that little just a so – place longer And bit that that a is of timeframe. all in making put has

finish think I’m I getting line. across of some the these

Marie Thibault

Yes. to good revenue watching And result ask, wanted such strong given hear to a Absolutely. then and All quarter. makes it. you’re sense in the I

the the you’ve maintain outlook this making Just it decided certainly sustainable side. is to and a and been of revenue insulation curious the pushing like why sounds lot for you on progress year;

little maintenance the you help questions? thanks about understand how So to guidance, bit that us a for taking and came

Suzanne Winter

Yes. we I enormously we’re No, I what of where sort and already think are first proud we’ve of think absorbed. of all,

has pointed to As result of we year-to-date. our out, been Ali $XX held we’ve guidance. and a impact significant the FX a have million as top had had line just That

I if improve, FX was guidance. the QX think supply lower be in more heading mid- we’re and that things the the guidance. the end of If or to then in it more to continues think the chain issue then of as obviously I high-end same is an toward we’re QX,

So improve, but we’re cautiously that. optimistic to watch that things continue will we’ll

Marie Thibault

All right. Suzanne. Thank you,

Operator

come will question ahead with Please Josh question. from go next Jennings Cowen. your our And with

Josh Jennings

about showcase the and ASTRO Hi, taking good to at meeting. to month, next was the afternoon. Thanks for that Wanted questions. I ARTemis plan ask believe

– out to be adaptive wanted that it coming introduced internationally? Just know that half what the online be meeting. And year of we and calendar should will commercialized if be in platform of back to going the expecting is the

Suzanne Winter

Yes.

you floor you show ASTRO, see on So ARTemis will will Josh. our see at –

introductions big are full of the the at VitalHold really Our market. for a European launch ASTRO

collaboration so for be with online also We’ll our So hold, display. in with research ARTemis the showing will adaptive. our on breath the inspiration on collaboration that’ll be the deep major booth. be CRAD

In more CE a timeframe, being marked the launch the that first the terms of in will timing, end be the probably ASTRO by year. calendar really of clearance full

launch not until so product back the But And will I half think customers. we impact that of tremendous that’s from for that area will interest, of featuring our an expect XXXX. probably be I certainly we FY as see that

not discussing only panel PACE-B a leader in like technology, of like that PACE-A, be will breast SBRT highlighting having efficacy other opinion for be of of clinical to the that we’ll and a fractionation the going key research but symposium ultra be you’ll our And is we’ll see then hyper and prostate the at general. to use lot we’re where the specific having a demonstrates be show clinical that that that’ll the thing be

Josh Jennings

your And do represent a announcement just With of then, ViewRay, on the then, from expect the see Well you sales level, ask competitor disruption And represent in They of percentage year about could just, for wanted this do, Thanks that? that. kind fiscal funnel. quarter, mean there? any to a to taking and opportunity concurrency Great. small business the competitor you’re but earlier making all opportunity, a market, thanks orders basis their a from for questions. higher grow we the viewing just I the how for should full XXXX? any

Suzanne Winter

Great, thank you.

we’re So, of course, we segment. we in a always of serve look for opportunities, a or I specialty forward. would a going course, say that at different anyone MR-linac little academic we’re CyberKnife technology, be as who an if see they but premium opportunity move there’s I And evaluating to may be in mean, in in of general taking an ViewRay than either is to either opportunistic certainly, more think there. a And an are we look I

overall for an X.X booking, orders, we so Just we we are are at out last at what metric from to And year. unit ship us are important think from to the that that in look as going we an the expecting least we of ratio door. are be, I book-to-bill we of at the continue least in standpoint, standpoint, to terms a growth

strong So that, pull moving we’ve forward. from got backlog a to

Josh Jennings

you. Thank Great.

Operator

come Capital. will next question. Instructions] from your with Loop Wittes ahead Please with question go here Jason [Operator Our

Jason Wittes

for Thanks taking questions. the

solid And on congrats quarter, that.

guys. from while you So seen in I’ve a that’s one

see with on thus already it there are FX mentioned on you, chance the this there you’ve does you because covered that And headwinds. progresses? kind what that for supply also do you year What the there kind headwinds piece improvement of look the any So especially guidance, do – I the performance great topic, you? need still hurting And But are conservative of execution, navigated far. mean well. that quite as is to to issues. the given you

Suzanne Winter

question, Thanks the Jason. for

in QX. very And QX Ordinarily, of QX so me a the year. the year. being, of just our little QX And weaker yes, historically usually let fiscal We strongest of quarters had our we actually have be perspective. one put sort a of seen beginning bit strong a

that on into planned that several customers based of needing Some had brought spend due shipments that we to really to we QX money. for their be was QX

And given QX sort do the expectation, standpoint, we which we historical the year, I we significant show, shipped in watching. half from XX we’re that last actually hockey of back of think sort a XXXX. in stick FY units, is similar our going so, the expected to But, units we’re of to overall think be growth quarter over

And to be standpoint, have actually. continues it supply of it chain chain, suppliers we challenge. from continues something a navigated as be a move continues Supply It headwind, tremendously I handful micromanage, be but to that to think need a a we to forward. we

guidance. given of influenced our that what’s sort so And the

Jason Wittes

merge. Does think make merger That’s to basically Okay. and topic how even then something looking at it you look and you. kind you operate? they’re basically sell Thank sense a and would you’d look of Is the would at company helpful. business And the on potentially things ViewRay? between what of that ViewRay, they Accuray of have announced and, that that do

Suzanne Winter

can’t you, tell comment. that to we of we areas question we do the what’s stakeholders. I’ll And going laid executing really best no, focus very focused of are on sure out year. the we the to and course, our in that Yes, we’re always, interest strategic driving making it’s and, fiscal appreciate our business I are the and of for

Jason Wittes

the offered could kind that’s if how of there. versus give then especially the more C being is with and you pretty it’s if out is one discuss kind Tomo it us positioned just been, And going just of one, wonder set I sneak China. be much I of, Okay. last that kind in offerings, to in premium could the feature

Suzanne Winter

think B market. appealing I the very tuning is aspect fine they’re I product, positioning but for the way system will Type that mean, I the say they’re the still the of helical Yes.

is that major a differentiator. So

Jason Wittes

Okay, thank the back queue. Jump much. you in very

Operator

And this I any back would concludes remarks. for Suzanne conference turn our to the over question-and-answer Winter session. like closing to

Suzanne Winter

to for forward earnings everyone want I XXXX you just again And August with concludes look in our thank release. year This we speaking for fiscal final Great. attending. earnings call our to all of and

Operator

concluded. The conference for you today’s very attending now Thank has much presentation.

You your may lines. now disconnect

Accuray (ARAY) 26 Apr 232023 Q3 Earnings call transcript