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%.
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.
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.