Image-guided radiotherapy developer ViewRay reported a drop in revenue for its third quarter (end-September 30), but the company noted it has received new orders for its MRIdian system.
Total revenue for the fiscal quarter was $400,000, compared with $5.3 million for the same period last year. The company's net loss for the quarter was $14.1 million, compared with a net loss of $10.3 million for the same period last year.
The firm received four new orders for its MRIdian system in the quarter, two of which were from existing customers ordering a second system, giving ViewRay nine new orders in the first nine months of 2016. The company recognized revenue on one system in the first quarter and anticipates recognizing revenue on two systems in the fourth quarter of this year.
The new orders total $24.5 million and are up from three orders in the second quarter and two orders in the first quarter.
Also, the company has a total backlog of $125.2 million, representing 22 signed sales contracts.
