secwatch.observer — SEC 8-K summary
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Issuer:     ACCURAY INC (ARAY)
CIK:        0001138723
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0000950170-22-021223
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Accuray Q1 revenue falls 10%, loss widens; credit covenants relaxed through June 2023
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- Q1 revenue $96.5M, down 10% YoY; net loss $5.4M ($0.06 loss) vs loss $1.0M prior year.
- Gross orders $69.8M flat; constant currency growth 6.5%. Backlog $538.4M (-11% YoY).
- Adjusted EBITDA $1.9M vs $5.4M prior year. Cash $81.2M, down $7.7M from June.
- Credit agreement amended: senior net leverage relaxed to 3.50x for Q2 FY23; fixed charge coverage reduced to 1.10x through June 2023.
- Company reiterates full year fiscal 2023 guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1138723/000095017022021223/0000950170-22-021223-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1138723/000095017022021223/aray-20221028.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-021223

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer