ViewRay, Inc. (Nasdaq: VRAY) (the "Company") today provided a business update and announced preliminary financial results for the quarter ended March 31, 2023. The preliminary results have not been audited and are subject to change.
First Quarter 2023 Preliminary Results and Key Points (Unaudited)
Received 13 new orders for MRIdian systems totaling approximately $68 million, compared to seven new orders totaling approximately $41 million in the first quarter of 2022.
Total backlog increased to approximately $411 million as of March 31, 2023, compared to approximately $331 million as of March 31, 2022.
Total revenue for the first quarter 2023 was approximately $23 million, primarily from three revenue units, compared to approximately $19 million, primarily from three revenue units in the first quarter of 2022.
Net loss for the first quarter 2023 was approximately $29 million, compared to a net loss of approximately $26 million in the first quarter of 2022.
Adjusted EBITDA was a loss of approximately $25 million in the first quarter 2023 compared to an adjusted EBITDA loss of approximately $21 million in the first quarter 2022.
The Company's Board of Directors has retained Goldman Sachs and Co. LLC as a financial advisor to undertake an evaluation of strategic alternatives, including a corporate sale, merger, or business combination.
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