Accuray Incorporated (NASDAQ:ARAY) Q3 2024 Earnings Call Transcript

Ali Pervaiz: That’s right.

Jason Wittes: Okay. And then – so if I think about the change in the outlook, that’s mostly U.S. driven? Can we assume that? Or is there other regions that are were calculated into your thinking when you’re looking at the fourth quarter?

Suzanne Winter: Predominantly the U.S.

Jason Wittes: Predominantly the U.S. Okay. And I guess we’ve asked enough, but I mean, is it – the order rates were actually healthy. Also, I think you mentioned that a lot of that was EMEA and Japan, I think. In terms of what the customers are telling you in terms of the orders or discussions you’re having? Is it really just they said it’s been thrown into the 2025 budgets? Or it’s just another just for the laser. I know you talked about this earlier, but how are they characterizing?

Suzanne Winter: Yes, I would say it differs by customer. Everyone’s process slightly different. I think the expectation is that there will be some improvement, in the back half of our fiscal year ’25. And we’ve heard some customers saying, listen, it’s going to take us until calendar year 2026, to get back to pre-COVID levels of budget. So, I think it’s going to be gradual, and we’re going to be monitoring it. We don’t have a crystal ball, but certainly, we’re going to be watching it very closely and again, double down here, so that we’re ready when things start to improve.

Jason Wittes: Got it. Thanks a lot. I’ll jump back in queue.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Ms. Suzanne Winter for any closing remarks. Please go ahead.

Suzanne Winter: I want to thank everyone for joining the call. This concludes our earnings call, and we look forward to speaking with you again in the summer for our fiscal 2024 fourth quarter earnings release.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.