Revenues for the first quarter (end-March 31) for radiation therapy vendor ViewRay dipped on lower system sales.
For the period, ViewRay reported sales of $20.3 million, down 29% compared with $26.2 million in the first quarter of 2019. The company said it sold three systems and one system upgrade during the most recent period, compared with four systems and one upgrade in the same quarter the year before.
The company posted a net loss of $33.4 million in the quarter, compared with a net loss of $7.5 million for the same period last year.
ViewRay affirmed its financial guidance for the full year 2019, anticipating 2019 total revenue to be in the range of $111 million to $124 million, while total cash usage will be in the range of $65 million to $75 million. The company had total cash and cash equivalents on hand of $145.8 million as of March 31.
