ViewRay (VRAY) Tops Q1 EPS by 8c, Beats on Revenues; Offers FY18 Revenue Outlook Above Consensus

ViewRay (NASDAQ: VRAY) reported Q1 EPS of ($0.11), $0.08 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $26.2 million versus the consensus estimate of $12.13 million.

First Quarter 2018 Highlights:

• Total revenue of $26.2 million, primarily from 4 revenue units, up from $1.2 million in 1Q 2017.
• Received new orders for MRIdian Systems totaling $21.2 million, up from new orders totaling $12.3 million in 1Q 2017.
• Total backlog grew year over year to $195.0 million, as of March 31, 2018, up from $144.9 million as of March 31, 2017.
• Received Shonin approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) to market the MRIdian Linac System in Japan.
• Surpassed 50th MRIdian MR image-guided radiation therapy system order.
• Sponsored a global symposium attended by nearly 200 clinicians to discuss advanced applications of MR image-guided radiotherapy in Amsterdam.

Financial Guidance

The Company is reiterating its financial guidance for the full year 2018. The Company anticipates 2018 total revenue to be in the range of $80 million to $90 million.

For earnings history and earnings-related data on ViewRay (VRAY) click here.

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