Business Context and Reporting Period
Company: Accuray Incorporated
Filing Type: Form 8-K (Current Report)
Date: May 7, 2007
Context: The filing clarifies previous disclosures regarding the installed base of CyberKnife Systems in connection with the announcement of third-quarter fiscal 2007 results and the milestone of reaching 100 installed systems.
Key Financial Metrics
This filing does not contain financial statements, revenue figures, profit data, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on operational data regarding system installations.
Material Changes and Clarifications
The Company corrected prior disclosures to distinguish between systems sold and systems actually installed and capable of treating patients:
- Q1 Fiscal 2007: Previously reported as 83 systems; corrected to 82 systems (excluded one decommissioned system in Japan).
- Q2 Fiscal 2007: Previously reported as 91 systems; corrected to 89 systems (excluded the Japan system and one system sold to an Italian distributor but not yet installed).
- Q3 Fiscal 2007: Eight new systems were installed. As of March 31, 2007, the corrected total is 97 systems installed and capable of treating patients.
Management Commentary and Impact
Management stated that the reclassification of certain systems from the installed base count will not result in any change to the Company's revenues for the third quarter of fiscal 2007 or any prior fiscal period. The adjustment is purely a clarification of operational status.
Investor Verification Points
- Verify the distinction between "sold" and "installed and operational" CyberKnife Systems in future reports.
- Confirm that the 97 installed systems as of March 31, 2007, align with the Company's revenue recognition policies.
- Monitor the status of the system sold to the Italian distributor to determine when it will be counted in the installed base.