On October 15, 2019 ViewRay, Inc. (NASDAQ: VRAY) reported preliminary results for the third quarter 2019 (Press release, ViewRay, OCT 15, 2019, View Source [SID1234542281]). The preliminary results have not been audited and are subject to change.
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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."
Conference Call and Webcast
ViewRay will hold a conference call to discuss results on Tuesday, November 12, 2019 at 4:30 p.m. ET / 1:30 p.m. PT. The dial-in numbers are (844) 277-1426 for domestic callers and (336) 525 -7129 for international callers. The conference ID number is 8250536. A live webcast of the conference call will be available on the investor relations page of ViewRay’s corporate website at www.viewray.com.
After the live webcast, a replay of the webcast will remain available online on the investor relations page of ViewRay’s corporate website, www.viewray.com, for 14 days following the call. In addition, a telephonic replay of the call will be available until November 19, 2019. The replay dial-in numbers are (855) 859-2056 for domestic callers and (404) 537-3406 for international callers. Please use the conference ID number 8250536.