ViewRay's revenue plummets in Q3

By staff writers

November 6, 2020 -- Image-guided radiation therapy vendor ViewRay announced its revenue for the third quarter was nearly half of what it was a year ago.

For the quarter (end-September 30), the firm posted revenue of $10.1 million, down 52% compared with revenue of $20.9 million in the same period the year before. The company's net loss for the most recent period was $28.1 million, compared with a net loss of $20.8 million in the third quarter of fiscal 2019.

Despite the results, ViewRay's President and CEO Scott Drake said the company was pleased with the third-quarter results in light of the economic backdrop. In part, that's because ViewRay received its first order from the U.S. Department of Veterans Affairs in the third quarter.

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