Image-guided radiotherapy developer ViewRay's revenues jumped in its fourth quarter and for the full fiscal year (end-December 31) as the firm converted order backlog into revenue.
Total revenue in the fourth quarter of 2015 was $4.6 million, compared with $500,000 in the fourth quarter of 2014, as the firm installed its MRIdian system at two sites in the most recent period.
Total revenue for the year increased 62.4% to $10.4 million, as ViewRay recognized product revenue on two higher-priced MRIdian systems in the second half of 2015, compared with two lower-priced systems in 2014.
Also, as of December 31, total order backlog was $84.4 million -- 15 signed sales contracts -- compared with a total order backlog of $54.7 million at December 31, 2014 -- 10 signed sales contracts.
In other company news, ViewRay's common stock will now be listed on the Nasdaq.
