Exhibit 99.1

ViewRay Reports Third Quarter 2017 Financial Results

Strong Order Momentum in Q3, continuing in Q4

 

CLEVELAND, OH November 13, 2017

— ViewRay, Inc. (Nasdaq: VRAY) today announced financial results for the third quarter and nine months ended September 30, 2017.

 

Third Quarter & Recent Financial Highlights:

 

Total revenue of $12.2 million in Q3 2017, up from $0.4 million in Q3 2016.

 

Received new orders for MRIdian Linac systems in Q3 2017 totaling $29.9 million, compared to orders totaling $24.5 million in Q3 2016.

 

Total backlog grew to $194.8 million, as of September 30, 2017, up from $125.2 million as of September 30, 2016.  This is net of one cancellation received in Q3 2017.

 

Awarded a tender offer for two MRIdian Linacs in Copenhagen and one MRIdian Linac in Zurich in October.

 

Raised gross proceeds of approximately $50 million through sale of 8,382,643 shares of common stock in a direct registered offering in October.

 

Third Quarter 2017 MRIdian Clinical Highlights:

 

Completed first patient treatments on the MRIdian Linac at Henry Ford Hospital in Michigan

 

Strong presence at AAPM and ASTRO annual meetings with 51 presentations highlighting MRIdian's growing role in cancer care.

 

Announced multi-center prospective clinical trial for locally advanced unresectable pancreatic cancer following early retrospective clinical data suggesting nearly 2X prolonged median survival using MRIdian adaptive therapy.

 

Held inaugural meeting of ViewRay’s Clinical Cooperative Think Tank (C2T2), comprised of leading clinicians from 18 institutions around the world, focused on gathering evidence of the benefits of MR-guided radiation therapy.

 

“In the third quarter we completed the installation of 2 MRIdian Linac systems and saw strong momentum in new orders for the MRIdian Linac,” said Chris A. Raanes, president and chief executive officer of ViewRay. "This momentum has continued into Q4, including winning competitive tenders for 3 new MRIdian Linacs at two sites in Europe in October. We also strengthened our cash position by raising $50 million to support the expanding commercialization of the MRIdian Linac.”

  

Financial Results

 

Total revenue for the third quarter ended September 30, 2017 was $12.2 million, compared to $0.4 million for the same period last year, including the recognition of revenue from two new MRIdian systems in the third quarter of 2017. Total revenue for the nine months ended September 30, 2017 was $14.1 million, compared to $6.1 million for the same period last year.

 

Cost of product revenue was $9.7 million for the third quarter ended September 30, 2017, compared to $0.8 million for the same period last year. Total gross profit (loss) for the third quarter ended September 30, 2017 was $2.0 million, compared to $(0.8) million for the same period last year. Cost of product revenue was $10.3 million for the nine months ended September 30, 2017, compared to $6.9 million for the same period last year. Total gross profit (loss) for the nine months ended September 30, 2017 was $2.0 million, compared to $(2.5) million for the same period last year.

 

Total operating expenses for the third quarter ended September 30, 2017 were $13.6 million, compared to $10.1 million for the same period last year. Total operating expenses for the nine months ended September 30, 2017 were $37.4 million, compared to $31.2 million for the same period last year.

 

Net loss for the third quarter ended September 30, 2017 was $(11.2) million, or $(0.19) per share, compared to $(14.1) million, or $(0.35) per share, for the same period last year. Net loss for the nine months ended September 30, 2017 was


The following information was filed by Viewray, Inc. (VRAY) on Monday, November 13, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Viewray, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Viewray, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account