ViewRay, Inc.
viewray.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2023 10-Q, filed May 11, 2023. Its latest SEC filing is a SC 13G/A from Feb 14, 2024.
10-Q for Q1 FY2023, filed May 11, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Builds and sells MRI-guided radiation therapy systems for hospitals, cancer centers and medical practices.
10-K for FY2022, filed Feb 28, 2023
How Did They Make Money?
ViewRay sells MRIdian systems, with system sales tied to shipment or delivery and inspection, or customer acceptance; installation is earned as the work is done. Maintenance support is earned over the service term, while an exclusive Japanese distribution-rights fee is earned over its agreement term.
10-K for FY2022, filed Feb 28, 2023Certain revenue contracts have terms that result in the control of the system transferring to the customer upon delivery and inspection, as…View ↗
Certain customer contracts with distributors do not require ViewRay installation at the ultimate user site, and the distributors may either…View ↗
Service revenue is derived primarily from maintenance services. The maintenance and support service is a stand-ready obligation which is…View ↗
In December 2014, the Company entered into a distribution agreement with Itochu Corporation pursuant to which it appointed Itochu as its…View ↗
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10-K for FY2022, filed Feb 28, 2023
FY2022 revenue by product or service ↗
$102.2M
-
10-K for FY2022, filed Feb 28, 2023
$102.2M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product
Sold outright
10-K for FY2022, filed Feb 28, 2023 |
78%
FY2019: 91%
|
Product, FY2022
$79.3M Sources
|
Sold outright |
|
Service
Recurring
10-K for FY2022, filed Feb 28, 2023 |
22%
FY2019: 8.9%
|
Service, FY2022
$22.4M Sources
|
Recurring |
|
Distribution rights
Recurring
|
0.5%
FY2019: 0.5%
|
Distribution rights, FY2022
$513K Sources
|
Recurring |
Who Were Their Customers?
Hospitals, medical practices and cancer centers buy MRIdian through direct sales in the United States and a mix of direct sales and distributors elsewhere.
10-K for FY2022, filed Feb 28, 2023
Did Revenues Turn Into Profits?
No. It lost $107.3M in FY2022.
10-K for FY2022, filed Feb 28, 2023
−$107.1MView ↗
10-K for FY2022, filed Feb 28, 2023
−$107.3MView ↗
10-K for FY2022, filed Feb 28, 2023
−$95.6MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q1 FY2023, filed May 12, 2023
−$28.9MView ↗
- ▲ +12% (Loss)
- vs −$25.8M in Q1 FY2022
10-Q for Q1 FY2023, filed May 11, 2023
Open tableView ↗
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Jul 21, 2023
Nasdaq notified ViewRay that its stock would be delisted
Sources
8-K, filed Jul 21, 2023
On July 17, 2023, ViewRay, Inc. (the “Company”) was notified by The Nasdaq Stock Market (“Nasdaq”) that the Company’s common stock will be…View ↗
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Jul 17, 2023
ViewRay filed for Chapter 11 and plans an asset sale
Scott Drake was replaced as CEO by Paul Ziegler before the filing.
Sources
8-K, filed Jul 17, 2023
On July 16, 2023 (the “Petition Date”), ViewRay, Inc. (the “Company”) and its subsidiary, ViewRay Technologies, Inc. (together with the…View ↗
Grew. Revenue grew 26% in 4 years, from $81M in FY2018 to $102.2M in FY2022, about 6% a year.
Cobalt-based system
The earlier report described both cobalt-based and linear-accelerator MRIdian systems; the latest says the cobalt-based system is no longer commercially available.
10-K for FY2019, filed Mar 12, 2020 10-K for FY2022, filed Feb 28, 2023We design, manufacture and market the ViewRay MRIdian®. The MRIdian is an innovative system that integrates high quality radiation therapy…View ↗
ViewRay, Inc. designs, manufactures, and markets the MRIdian MRI-guided Radiation Therapy System. MRIdian is built upon a proprietary…View ↗
Who Did They Compete With?
Competes with Accuray, Elekta, Siemens Healthineers, MagnetTX, and RefleXion Medical
10-K for FY2022, filed Feb 28, 2023Our major competitors with devices approved for distribution in the U.S. or globally include Accuray Incorporated (“Accuray”), Elekta AB…View ↗
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