Accuray Incorporated (ARAY) Revenue History
Annual and quarterly revenue from 2005 to present
ARAY Revenue Over Time (2005–2025)
ARAY Revenue Growth History
15 of 20 years with positive growth- FY2005 revenue growth
- N/A
- FY2006 revenue growth
- +136.4%
- FY2007 revenue growth
- +165.5%
- FY2008 revenue growth
- +49.8%
- FY2009 revenue growth
- +11.0%
- FY2010 revenue growth
- -5.1%
- FY2011 revenue growth
- +0.3%
- FY2012 revenue growth
- +84.1%
- FY2013 revenue growth
- -22.8%
- FY2014 revenue growth
- +16.9%
- FY2015 revenue growth
- +2.8%
- FY2016 revenue growth
- +5.0%
- FY2017 revenue growth
- -3.9%
- FY2018 revenue growth
- +5.6%
- FY2019 revenue growth
- +3.4%
- FY2020 revenue growth
- -8.6%
- FY2021 revenue growth
- +3.5%
- FY2022 revenue growth
- +8.5%
- FY2023 revenue growth
- +4.1%
- FY2024 revenue growth
- -0.2%
- FY2025 revenue growth
- +2.7%
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $104.8M | -7.4% |
| Q2 2026 | $102.2M | -12.0% |
| Q1 2026 | $93.9M | -7.5% |
| Q4 2025 | $127.5M | -5.0% |
| Q3 2025 | $113.2M | +12.0% |
| Q2 2025 | $116.2M | +8.3% |
| Q1 2025 | $101.5M | -2.3% |
| Q4 2024 | $134.3M | +13.5% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
ARAY's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
ARAY Revenue Analysis (2005–2025)
Current Revenue & Growth
As of June 22, 2026, Accuray Incorporated (ARAY) generated trailing twelve-month (TTM) revenue of $428.6 million, reflecting moderate decline in growth of -7.4% year-over-year. The most recent quarter (Q3 2026) recorded $104.8 million in revenue, up 2.5% sequentially.
Historical Growth Trajectory
ARAY's 5-year compound annual growth rate (CAGR) stands at +3.7%, indicating moderate growth over time. The 3-year CAGR of +2.2% is below the 5-year average, signalling a growth deceleration in recent years. Accuray Incorporated's highest annual revenue of $458.5 million was recorded in 2025, an all-time high.
Revenue by Segment
ARAY's revenue is primarily driven by Product (52%), and Service (48%). With over half of revenue concentrated in Product, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including ISRG (+21.4% YoY), NVCR (+8.5% YoY), and ABT (+6.4% YoY) — ARAY has underperformed the peer group in revenue growth. Compare ARAY vs ISRG →
ARAY Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ARAYCurrent | $429M | -7.4% | +3.7% | 1.7% | |
 ISRG | $10.1B | +21.4% | +18.2% | 29.3% | |
 NVCR | $655M | +8.5% | +5.8% | -23.5% | |
 ABT | $42.0B | +6.4% | +5.6% | 16.3% | |
 BSX | $20.1B | +19.9% | +15.2% | 19.8% | |
 MDT | $33.5B | +6.9% | +3.0% | 17.8% |
ARAY Historical Revenue Data (2005–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $458.5M | +2.7% | $147.0M | 32.1% | $7.8M | 1.7% |
| 2024 | $446.6M | -0.2% | $142.9M | 32.0% | $504K | 0.1% |
| 2023 | $447.6M | +4.1% | $154.0M | 34.4% | $2.4M | 0.5% |
| 2022 | $429.9M | +8.5% | $160.0M | 37.2% | $8.1M | 1.9% |
| 2021 | $396.3M | +3.5% | $159.5M | 40.3% | $22.2M | 5.6% |
| 2020 | $382.9M | -8.6% | $149.7M | 39.1% | $12.5M | 3.3% |
| 2019 | $418.8M | +3.4% | $162.7M | 38.8% | $-9,908,000 | -2.4% |
| 2018 | $404.9M | +5.6% | $161.7M | 39.9% | $-3,797,000 | -0.9% |
| 2017 | $383.4M | -3.9% | $141.3M | 36.9% | $-9,823,000 | -2.6% |
| 2016 | $398.8M | +5.0% | $158.7M | 39.8% | $-4,873,000 | -1.2% |
| 2015 | $379.8M | +2.8% | $145.4M | 38.3% | $-19,169,000 | -5.0% |
| 2014 | $369.4M | +16.9% | $142.8M | 38.7% | $-18,144,000 | -4.9% |
| 2013 | $316.0M | -22.8% | $97.6M | 30.9% | $-80,655,000 | -25.5% |
| 2012 | $409.2M | +84.1% | $137.3M | 33.5% | $-62,987,000 | -15.4% |
| 2011 | $222.3M | +0.3% | $107.2M | 48.2% | $-28,283,000 | -12.7% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
21+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
ARAY — Frequently Asked Questions
Quick answers to the most common questions about buying ARAY stock.
Is ARAY's revenue growth accelerating or slowing?
ARAY revenue is declining -7.4% year-over-year. TTM revenue fell to $429M, contrasting with the 5-year CAGR of +3.7%. The reversal reflects either macro headwinds or company-specific challenges.
What is ARAY's revenue history from 2005 to 2026?
Accuray Incorporated (ARAY) revenue history spans 2005 to 2026. TTM revenue as of 2026 is $429M, growing at -7.4% YoY. The 5-year CAGR is +3.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is ARAY's long-term revenue growth rate (CAGR)?
Accuray Incorporated's 5-year revenue CAGR of +3.7% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -7.4% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for ARAY.
Why does ARAY's quarterly revenue fluctuate?
ARAY quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Accuray Incorporated's revenue data from 2005 to 2026 shows full historical quarterly detail on this page.
How is ARAY's revenue distributed by segment?
ARAY reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does ARAY's revenue compare to industry peers?
Accuray Incorporated (ARAY) with TTM revenue of $429M and -7.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.