CLEVELAND, Oct. 15, 2019 /PRNewswire/ — ViewRay, Inc. (NASDAQ: VRAY) today announced preliminary results for the third quarter 2019. The preliminary results have not been audited and are subject to change.
Selected Third Quarter Preliminary Results:
-Total revenue of $20.9 million in the third quarter of 2019, primarily from three revenue units, compared to total revenue of $17.7 million, primarily from three revenue units, in the third quarter of 2018.
-Received 8 new orders for MRIdian systems, including 3 upgrades, totaling approximately $35 million in the third quarter of 2019, compared to orders totaling approximately $36 million in the third quarter of 2018.
-Total backlog grew to approximately $231 million as of September 30, 2019.
-Cash and cash equivalents were approximately $92 million as of September 30, 2019.
-The Company reaffirmed its full year 2019 guidance of revenue in the range of $80-95 million, and cash use in the range of $80-90 million.
“I am pleased with the progress our team is making on the commercial, clinical, and innovation fronts,” said Scott Drake, President and CEO. “With our customers, we are driving a paradigm shift in how radiation therapy is delivered and treating patients that, without MRIdian, had no other treatment options. Customers ranging from large academic centers to free-standing clinics are responding to our value proposition. We look forward to discussing our third quarter results on our November earnings call.”
