ViewRay (VRAY) Misses Q4 EPS by 6c, Revenues Miss; Offers FY20 Revenue Guidance Below Consensus

ViewRay (NASDAQ: VRAY) reported Q4 EPS of ($0.31), $0.06 worse than the analyst estimate of ($0.25). Revenue for the quarter came in at $16.5 million versus the consensus estimate of $18.05 million.

Fourth Quarter 2019 Summary:

• Total revenue was $16.5 million in the quarter, primarily from three revenue units including one system upgrade, compared to $20.7 million, primarily from four revenue units including one system upgrade, for the same period last year.
• Received four new orders for MRIdian systems totaling approximately $21.2 million in the fourth quarter of 2019, compared to eight new orders for MRIdian systems totaling approximately $48.7 million for the same period last year.

"In 2019 we built significant organizational expertise, made progress on our innovation and clinical pipelines, and fortified our balance sheet," said Scott Drake, President and CEO. "As we look at 2020, our commercial and operational activities are being impacted by the coronavirus and may be further impacted depending upon how the situation unfolds. As we look beyond the coronavirus uncertainty, we are confident in the capabilities we have built and how MRIdian is positioned to improve the paradigm of care."

GUIDANCE:

ViewRay sees FY2020 revenue of $58-95 million, versus the consensus of $110.15 million.

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

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