Home Equities Score ViewRay Inc. (VRAY) stock flipped on Thursday after the recent announcement

ViewRay Inc. (VRAY) stock flipped on Thursday after the recent announcement

ViewRay Inc. (VRAY) shares gained 9.62% to trade at $5.24 in the after-market session on Thursday, May 6, 2021. Earlier, VRAY’s stock lost 0.42% to close Thursday’s session at $4.78. VRAY shares have soared 187.95% over the last 12 months, and they have moved down 3.04% in the past week. Over the past three months, the stock has lost 1.44%, while over the past six months, it has gained 58.80%.

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Let’s see what’s happening with ViewRay Inc.

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Financial results announcement

On May 6, 2021, ViewRay, Inc reported its financial results for the first quarter ended March 31, 2021.

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Q1 2021 financial highlights

  • ViewRay earned a total revenue of $15.5 million in Q1 2021compared to $14.3 million for the same period last year.
  • Total gross profit for the three months ended March 31, 2021, was $0.3 million, compared to $2.1 million in Q1 2020.
  • Q1 2021 total operating expenses were $25.0 million, compared to $27.9 million for the same quarter in 2020.
  • ViewRay suffered a net loss of $26.7 million, or $0.17per share in Q1 2021, compared to $27.5 million, or $0.19 per share, for the same quarter last year.
  • As of March 31, 2021, ViewRay had total cash and cash equivalents of $182 million.

CFO resignation

On March 15, 2021, ViewRay, Chief Operating OfficerShahriar Matinannounced to leave the company by March 31, 2021. The company hasn’t announced the new CFO yet.

Q4 & FY2020 financial results

On March 4, 2021, ViewRay, Inc. reported financial results for the fourth quarter and year ended December 31, 2020.

Q4 2020 financial results

  • ViewRay earned a total revenue of $18.5 million in Q4 2020compared to $16.5 million for the same quarter last year.
  • The total cost of revenue for Q4 2020 was $18.3 million compared to $20.4 million for Q4 2019.
  • Total gross margin $0.2 million for the reported quarter, compared to a gross margin of $3.9 million for the same period last year.
  • In Q4 2020, total operating expenses were $25.5 million, compared to $28.5 million for the same quarter last year.
  • The company suffered a net loss of $26.1 million, or $0.18per share in Q4 2020, compared to $35.2 million, or $0.31 per share in Q4 2019.

 

FY 2020 financial highlights

  • ViewRay total revenue was $57.0 million in FY 2020 compared to $87.8 million for the full year 2019.
  • The total cost of revenue was $61.1 million for the full year 2020 compared to $93.3 million for the full year 2019.
  • For FY 2020, the total gross margin was $4.1 million compared to $5.5million for FY 2019.
  • Total operating expenses were $101.9 million in 2020compared to $115.3 million in FY 2019.
  • The company suffered a net loss of $107.9 million, or $0.73per share in FY 2020, compared to $120.2 million, or $1.18 per share, in FY2019.

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Conclusion

Though the ViewRay reported a loss for Q1 2021 but it beat the revenue estimates which was the reason behind its surge in the after-hours session on Thursday.

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