Image-guided radiation therapy vendor ViewRay is reporting growth in revenue of about 8% for its fiscal 2019. Orders also fell 50% in its fourth quarter.
For the fiscal year (end-December 31, 2019), ViewRay reported total revenue of $87.8 million, up roughly 8% from $81 million in 2018. Revenues came primarily from sales of 15 systems, including two system upgrades in 2018 and 2019.
The company received 22 new orders for MRIdian systems, including three upgrades, totaling $118.5 million, which is one fewer than in 2018. ViewRay's 23 new orders in 2018 were worth $140.7 million.
In the fourth quarter, total revenue reached $16.5 million, down from $20.7 million in the same quarter the previous year. The company received only four new orders for MRIdian systems totaling $21.2 million in the fourth quarter of 2019, compared with eight new orders totaling $48.7 million in the same quarter of the prior year.
