Strong product revenue growth propelled radiation oncology firm Accuray to a 15% increase in revenue for its 2018 fiscal second quarter.
For the period (end-December 31), Accuray had revenue of $100.3 million, up from the $87.5 million recorded in the same quarter last year. The revenue gain was driven primarily by a 33% increase in product revenues, which President and CEO Joshua Levine credited to implementation of the firm's strategies to improve distributor order-to-revenue conversion, as well as greater contribution from its Radixact radiation therapy system.
Accuray had a second-quarter net loss of $4.7 million, compared with a net loss of $9.4 million in the 2017 fiscal second quarter. The company said it believes it's on track to meet its fiscal 2018 guidance.
