ARAY — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• In fiscal year 2026, the Company announced a comprehensive strategic, operational, and organizational, transformation plan (the "Transformation Plan”). The Transformational Plan initiatives are designed to increase operating margins, enhance organizational responsiveness and agility, and position th…

• The actions also included a restructuring of the Company’s workforce (the “FY26 Restructuring Plan”) that resulted in the elimination of approximately 3% of the global workforce during the three months ended September 30, 2025, and the elimination of approximately 15% of the global workforce during …

• In March 2026, as part of the Company’s cost-management efforts under the Transformation Plan, the Compensation Committee of the Board of Directors approved the discontinuation of cash compensation for non-employee directors during the fourth quarter of fiscal year 2026.

• Includes sales of products to the joint venture, an equity method investment, of $11,083 and $32,716 during the three and nine months ended March 31, 2026, and $17,967 and $76,333 during the three and nine months ended March 31, 2025, respectively. See Note 12.

• Services net revenue decreased by $0.8 million during the three months ended March 31, 2026, as compared to the same period in the prior fiscal year, primarily due to a $1.2 million negative impact to service revenue as a result of the Middle East conflict, partially offset by an increase in contrac…

Text removed vs the prior filing · source: 10-Q · 2026-02-17

• In fiscal year 2026, the Company implemented a comprehensive strategic, operational, and organizational, transformation plan (“FY26 Restructuring Plan”). The FY26 Restructuring Plan includes the elimination of approximately 3% of the global workforce during the three months ended September 30, 2025,…

• Three Months Ended December 31, Six Months Ended December 31,

• Includes sales of products to the joint venture, an equity method investment, of $12,786 and $21,633 during the three and six months ended December 31, 2025, and $29,722 and $58,366 during the three and six months ended December 31, 2024, respectively. See Note 12.

• Services net revenue increased by $2.2 million and $5.8 million during the three and six months ended December 31, 2025, respectively, as compared to the same periods in the prior fiscal year, primarily due to higher contract revenues as a result of an increase in our installed base and revenues fro…

• Research and development expenses decreased by $2.9 million and $3.9 million during the three and six months ended December 31, 2025, respectively, as compared to the same periods in the prior fiscal year, primarily due to $1.5 million and $3.1 million in capitalized labor costs for software develop…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• We do not utilize derivative commodity instruments or other market risk sensitive instruments, positions or transactions, but we may in the future. However, we do use foreign currency forward contracts to hedge our exposure to foreign exchange risk. See Note 5, “Derivative Financial Instruments,” to…

Text removed vs the prior filing · source: 10-Q · 2026-02-17

• We do not utilize derivative commodity instruments or other market risk sensitive instruments, positions or transactions, but we may in the future.

• Single-source suppliers presently provide us with several components. In most cases, if a supplier was unable to deliver these components, we believe that we would be able to find other sources for these components subject to any regulatory qualifications, if required.

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Our global business has been and could continue to be negatively affected by uncertainty or volatility in trade policy as well as trade barriers and other governmental protectionist measures, any of which can be imposed or modified suddenly and unpredictably. There is currently significant uncertain…

• In addition, the U.S. presidential administration has indicated its intent to modify U.S. trade policy and in some cases to renegotiate, or potentially terminate, certain existing bilateral or multi-lateral trade agreements. It has also imposed or announced enhanced international tariffs ranging fro…

• With respect to tariff refund claims, there can be no assurance that we will receive any tariff refunds on a timely basis or at all, or that any such refunds, if received, will fully offset amounts previously paid or accrued. For example, in April 2026, the Company submitted approximately $9.0 milli…

• In addition, our competitors, including domestic Chinese manufacturers and multinational companies that manufacture in countries not subject to the same tariffs, may not face equivalent cost increases, which could result in a relative competitive disadvantage for our products in affected markets, pa…

• Tariffs increase the cost of our products and the components and raw materials that go into making them. An increase in our costs adversely impacts the gross margin that we earn on our products and we have been unable to fully pass tariff-related cost increases to our customers, particularly because…

Text removed vs the prior filing · source: 10-Q · 2026-02-17

• Our global business has been and could continue to be negatively affected by trade barriers and other governmental protectionist measures, any of which can be imposed or modified suddenly and unpredictably. There is currently significant uncertainty about the future relationship between the U.S. and…

• These tariffs are subject to a number of uncertainties as they are implemented, including future adjustments and changes. The ultimate reaction of other countries and the impact of these tariffs or other actions on the U.S., the global economy and our business, financial condition and results of ope…

• In addition, economic sanctions imposed by the United States and other countries could negatively affect our global business. For example, following Russia’s invasion of Ukraine, the United States and other countries imposed economic sanctions and severe export control restrictions against Russia an…

• effects of and uncertainties caused by the United Kingdom’s withdrawal from the European Union;

• We currently depend on single source suppliers for some of the critical components necessary to assemble the CyberKnife and TomoTherapy platforms, including, with respect to the CyberKnife platform, the robot, couch and magnetron and, with respect to the TomoTherapy platforms, the couch, solid state…