- Accuray had a good quarter with respect to product revenue and orders, but gross margins were weak on supply chain issues.
- Supply chain issues led management to halve near-term EBITDA guidance, with margins and profits likely to retreat to multiyear lows.
- The financial shortfall masks real progress underway in terms of product capabilities and order/market share momentum in multiple markets.
- I believe the Street is tired of the ongoing disappointments from Accuray, leaving the shares at a low valuation provided that execution improves as supply pressures ease.
For further details see:
Accuray Once Again Hits The Reset Button On Its Progress