ViewRay, Inc. has announced financial results for the first quarter ended March 31, 2019.
First Quarter 2019 Highlights:
“Our first quarter results are a solid start to the year and reflect progress on our commercial, innovation, and clinical pipelines,” said Scott Drake, President and CEO. “We are well-positioned to execute in 2019 and are focused on becoming the standard of care in radiation oncology.”
First Quarter 2019 Financial Results:
Total revenue for the three months was $20.3 million, compared to $26.2 million for the same period last year.
Total cost of revenue was $25.7 million, compared to $20.6 million for the same period last year. Total cost of revenue in the first quarter of 2019 was impacted by approximately $7.0 million of charges, primarily driven by higher than anticipated installation costs related to historical upgrade commitments. The $7.0 million includes $5.6 million of one-time charges and $1.4 million of expenses.
Total gross profit was $(5.4) million, compared to $5.6 million for the same period last year.
Total operating expenses were $25.0 million, compared to $16.9 million for the same period last year.
Net loss was $33.4 million, or $0.34 per share, compared to $7.5 million, or $0.11 per share, for the same period last year.
ViewRay had total cash and cash equivalents of $145.8 million at March 31, 2019.
The Company is reiterating its financial guidance for the full year 2019. The Company anticipates 2019 total revenue to be in the range of $111 million to $124 million, and total cash usage to be in the range of $65-$75 million.Back To Top
ViewRay reports first quarter 2019 results. Appl Rad Oncol.