ViewRay (VRAY) Misses Q2 EPS by 10c, Revenues Beat; Offers FY18 Revenue Outlook

ViewRay (NASDAQ: VRAY) reported Q2 EPS of ($0.30), $0.10 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $16.4 million versus the consensus estimate of $13.7 million.

Second Quarter 2018 Highlights:

• Total revenue of $16.4 million, primarily from 3 revenue units, up from $0.7 million in 2Q 2017.
• Received new orders for MRIdian Systems totaling $34.6 million.
• Total backlog grew year-over-year to approximately $200 million as of June 30, 2018, up from approximately $182 million as of June 30, 2017.

Recent Highlights:

• Installed MRIdian Linac System at first community hospital in the United States.
• 510(k) filed for MRIdian's SmartVISION™­, the latest advances to further improve tumor and soft tissue visualization.
• MRIdian System featured in 55 abstracts at the 2018 Annual Meeting of the American Association of Physicists in Medicine (AAPM).

Scott Drake, President and Chief Executive Officer stated, "I am excited to join the ViewRay team. With compelling early clinical data and our breakthrough MRIdian technology, we have a tremendous opportunity in front of us. We need to build infrastructure and organizational scale to progress from initial installations to seamless operations as we strive to better serve customers and treat cancer patients around the world."

GUIDANCE:

ViewRay sees Q3 2018 revenue of $80-90 million, versus the consensus of $85 million.

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

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