Accuray Incorporated (ARAY) stock gained in the after-hours trading session when the company announced its results for the second quarter of 2022. ARAY values at $4.35, gaining more than 7% from the previously closed value. At the end of the last trading session, the stock closed at around $4.10. The stock volume traded in the last trading session was around 780.47K shares.
Highlights of Q2 2022
Accuray Incorporated’s (ARAY) revenue in the second quarter of 2022 is $116.3 million. The revenue for the same period in 2021 was around $97.5 million.
Accuray Incorporated (ARAY) reported a gross profit of $42.6 million in Q2 2022. It is around 36.7% of the revenue. The gross profit for the same period in 2021 was $40.8 million or 41.9%.
The operating expenses in Q2 2022 are $38.6 million. It is a gain of more than 18% from the same period of 2021. Previously operating expenses were $32.6 million.
Accuray Incorporated (ARAY) reported a net income of $0.2 million Q2 2022. In Q2 2021, the company’s net income was $4.8 million.
As of the second quarter of 2022, Accuray Incorporated (ARAY) has around $123.4 million in cash and cash equivalents.
Highlights of the first half of 2022
Accuray Incorporated’s (ARAY) revenue in the first half of 2022 is $223.7 million. The revenue for the same period in 2021 was around $182.8 million.
Accuray Incorporated (ARAY) reported a gross profit of $82.2 million in the first half of 2022. It is around 36.7% of the revenue. The gross profit for the same period in 2021 was $76.2 million, or 41.7%.
The operating expenses in the first half of 2022 are $75.8 million. It is a gain of more than 21% from the same period of 2021. Previously operating expenses were $62.6 million.
Accuray Incorporated (ARAY) reported a net income of $0.8 million first half of 2022. In the first half of 2021, the company’s net income was $5.2 million.
The effect on the stock
Investors are responding positively to the results of the company’s second-quarter results. The after-hours market is volatile as most investors prefer to trade in the regular trading session.
Conclusion
The outlook of the company seems promising. The company aims to achieve a revenue goal of $420 million to $430 million.
