0001193125-25-191242 | 10-K | XBRL Viewer

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2025

Schedule of components of Income (loss) before provision for income taxes on the accompanying statements of operations and comprehensive loss

Income (loss) before provision for income taxes on the accompanying statements of operations and comprehensive loss included the following components (in thousands):


	Years Ended June 30,
	2025			2024
Domestic	$	(12,908	)	$	(25,184	)
Foreign		14,042			13,364
Total income (loss) before provision for income taxes	$	1,134		$	(11,820	)

Schedule of provision for income taxes

The provision for income taxes consisted of the following (in thousands):


	Years Ended June 30,
	2025		2024
Current:
Federal	$	—	$	—
State		4		133
Foreign		2,565		2,190
Total current	$	2,569	$	2,323
Deferred:
Federal		—		—
State		—		—
Foreign		156		1,402
Total deferred		156		1,402
Total provision for income taxes	$	2,725	$	3,725

Schedule of reconciliation of income taxes at the statutory federal income tax rate to the provision for income taxes included in the accompanying consolidated statements of operations and comprehensive loss

A reconciliation of income taxes at the statutory federal income tax rate to the provision for income taxes included in the accompanying consolidated statements of operations and comprehensive loss is as follows (in thousands):


	Years Ended June 30,
	2025			2024
U.S. federal taxes (benefit):
At federal statutory rate	$	238		$	(2,482	)
State tax, net of federal benefit		4			133
Share-based compensation expense		1,028			629
Research and development credits		(14	)		(209	)
Foreign taxes		203			219
Deferred tax on foreign earnings		558			952
Global intangible low-taxed income		1,471			1,335
Equity in earnings of unconsolidated affiliates		(990	)		(386	)
Chane in valuation of warrants		105			—
Change in valuation allowance		(113	)		3,202
Other non-deductible permanent items		235			332
Total provision for income taxes	$	2,725		$	3,725

Schedule of significant components of net deferred tax assets (liabilities)

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred tax assets (liabilities) were as follows (in thousands):


	June 30,
	2025			2024
Deferred tax assets:
Federal and state net operating losses	$	61,745		$	66,463
Accrued expenses and reserves		3,128			4,523
Lease liability		6,475			6,332
Deferred revenue		3,681			3,269
Research and development credits		26,678			26,669
Share-based compensation expense		1,416			1,405
Capitalized research and development		23,795			19,464
Unicap		527			541
Fixed assets and intangibles		250			644
Section 163(j) interest		3,244			2,776
Other		374			6
Total deferred tax assets		131,313			132,092
Deferred tax liabilities:
Contract acquisition costs		(857	)		(1,228	)
Right of use assets		(5,124	)		(5,288	)
Deferred tax on foreign earnings		(2,120	)		(2,499	)
Total deferred tax liabilities		(8,101	)		(9,015	)
Valuation allowance		(125,287	)		(125,944	)
Net deferred tax liabilities	$	(2,075	)	$	(2,867	)

Schedule of aggregate changes in the balance of gross unrecognized tax benefits

The aggregate changes in the balance of gross unrecognized tax benefits were as follows (in thousands):


	Years Ended June 30,
	2025			2024
Balance at beginning of year	$	22,044		$	21,565
Tax positions related to current year:
Additions		1,165			1,064
Tax positions related to prior years:
Additions		—			—
Reductions		(560	)		(585	)
Balance at end of year	$	22,649		$	22,044

Fair Value Measurements - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Financial assets
Fair value of the warrants issued	$ 499,000	$ 0
Fair value of warrants issued with debt	12,822,000
Black Scholes Method
Financial assets
Fair value of warrants issued with debt	12,800,000
Term Loan Facility
Financial assets
Fair value of the warrants issued	21,000,000
Forward Currency Exchange Contracts
Financial assets
Outstanding forward currency exchange contracts	43,468,000	87,956,000
Forward Currency Exchange Contracts \| Level 2
Financial assets
Outstanding forward currency exchange contracts	43,500,000	88,000,000
Fair value of currency contract based on exchange rate	$ 43,300,000	$ 87,700,000

Joint Venture - Summary of Financial Information of Joint Ventures (Operations Data) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2024	Mar. 31, 2024
Schedule Of Equity Method Investments [Line Items]
Revenue	$ 458,505		$ 446,551
Gross profit	146,967		142,921
Net income	$ (1,591)		$ (15,545)
CNNC Accuray (Tianjin) Medical Technology Co. Ltd.
Schedule Of Equity Method Investments [Line Items]
Revenue		$ 160,213		$ 114,942
Gross profit		29,438		22,137
Net income		9,617		3,750
Net income attributable to the Company		$ 4,714		$ 1,838

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount of Net Income (Loss) attributable to noncontrolling interest.

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- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Commitments and Contingencies

12 Months Ended

Jun. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 8. Commitments and Contingencies

Debt Commitments

The Company is required to make semi‑annual interest payments on the Convertible Notes, principal and interest payments on the Term Loan Facility. Future minimum principal payments and interest on the Convertible Notes and Term Loan Facility (as defined in Note 7. Debt), as of June 30, 2025, are as follows (in thousands):


Year Ending June 30,	Long-Term Debt (1)
2026	$	33,943
2027		21,787
2028		21,650
2029		21,403
2030		172,186
Total	$	270,969

(1)

These amounts represent principal and interest cash payments over the contractual life of the debt obligations, including anticipated interest payments that are not recorded on the Company’s consolidated balance sheet. Any conversion, premium, redemption or purchase of the Convertible Notes that would impact cash payments is noted in the preceding table.

Purchase Commitments

The Company’s purchase commitments and obligations include all open purchase orders and contractual obligations in the ordinary course of business, including commitments with contract manufacturers and suppliers, for which the Company has not received the goods or services and acquisition and licensing of intellectual property. A majority of these purchase obligations are due within a year. Although open purchase orders are considered enforceable and legally binding, the terms generally allows the Company the option to cancel, reschedule, and adjust its requirements based on the Company’s business needs prior to the delivery of goods or performance of services, and hence, these purchase orders have not been included in the table above.

Indemnities and Commitments

The Company enters into standard indemnification agreements with its landlords and all superior mortgages and their respective directors, officers’ agents, and employees in the ordinary course of business. Pursuant to these agreements, the Company will indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally the landlords, in connection with any loss, accident, injury, or damage by any third‑party with respect to the leased facilities. The term of these indemnification agreements is from the commencement of the lease agreements until termination of the lease agreements. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, historically, the Company has not incurred claims or costs to defend lawsuits or settle claims related to these indemnification agreements. The Company has not recorded any liability associated with its indemnification agreements as it is not aware of any pending or threatened actions that represent probable losses as of June 30, 2025.

Guarantees

As of June 30, 2025 and June 30, 2024, the Company had various bank guarantees totaling approximately $1.5 million and $1.1 million, respectively, primarily related to a bidding process with customers.

Royalty Agreements

The Company enters into software license agreements with third parties that may require royalty payments for each license used. The Company records royalty costs in cost of revenue or deferred cost of revenue. The Company had approximately $3.1 million and $2.9 million accrued liabilities as of June 30, 2025 and 2024, respectively, related to this agreement. The following table provides information about the Company’s royalty expense and royalty payments (in thousands):


	Years Ended June 30,
	2025		2024
Royalty expense	$	1,716	$	1,913
Royalty payments		1,573		1,371

Software License Indemnity

Under the terms of the Company’s agreements with its customers, the Company agrees that in the event the certain Company software sold under such agreement infringes upon any patent, copyright, trademark, or any other proprietary right of a third‑party, it will indemnify its customer licensees against any loss, expense, or liability from any damages that may be awarded against its customer. The Company includes this infringement indemnification in its agreements with customers where Company software is licensed. In the event the customer cannot use the software or service due to infringement and the Company cannot obtain the right to use, replace or modify the license in a commercially feasible manner so that it no longer infringes, then the Company may terminate the license and provide the customer a refund of the fees paid by the customer for the infringing license or service. The Company has not recorded any liability associated with this indemnification, as it is not aware of any pending or threatened actions that represent probable losses as of June 30, 2025.

Litigation

From time to time, the Company is involved in legal proceedings, including claims, investigations, and inquiries, arising in the ordinary course of its business. The Company records a provision for a loss when it believes that it is both probable that a loss has been incurred and the amount can be reasonably estimated. To the extent that there is a reasonable possibility that a loss exceeding amounts already recognized may be incurred and the amount of such additional loss would be material, we will either disclose the estimated additional loss or state that such an estimate cannot be made. Currently, management believes the Company does not have any probable and reasonably estimable material losses related to any current legal proceedings and claims. Although occasional adverse decisions or settlements may occur, management does not believe that an adverse determination with respect to any of these claims would individually, or in the aggregate, materially and adversely affect the Company’s financial condition or operating results. Litigation is inherently unpredictable and is subject to significant uncertainties, some of which are beyond the Company’s control. Should any of these estimates and assumptions change or prove to have been incorrect, the Company could incur significant charges related to legal matters that could have a material impact on its results of operations, financial position, and cash flows.

Supplemental Financial Information - Schedule of Prepaid and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Prepaid Expense and Other Assets [Abstract]
Value added tax receivables	$ 11,381	$ 4,026
Prepaid commissions	4,388	5,288
Capitalized contract costs	1,949	1,876
Income tax receivable	841	368
Debt financing costs	470	0
Dividend receivable from JV	2,453	2,460
Other prepaid assets	5,560	5,018
Other current assets	6,459	3,970
Total prepaid and other current assets	$ 33,501	$ 23,006

The Company and its Significant Accounting Policies

12 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The Company and its Significant Accounting Policies

Note 1. The Company and its Significant Accounting Policies

The Company

Accuray Incorporated (together with its subsidiaries, the “Company” or “Accuray”) designs, develops and sells advanced radiosurgery and radiation therapy systems for the treatment of tumors throughout the body. The Company is incorporated in Delaware and is headquartered in Madison, Wisconsin. The Company has primary offices in the United States, Switzerland, China, Hong Kong, and Japan, and conducts its business worldwide.

Basis of Presentation and Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”), pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”).

Reclassifications

Certain amounts in the notes to consolidated financial statements have been reclassified to conform to current year presentation. Such reclassifications had no impact on the Company’s consolidated financial statements.

Risks and Uncertainties

The Company is subject to risks and uncertainties caused, directly or indirectly, by events with significant geopolitical and macroeconomic impacts, including, but not limited to, inflation; actions taken to counter inflation, including high interest rates; foreign currency exchange rate fluctuations; uncertainty and volatility in the banking and financial services sector; tightening credit markets; geopolitical concerns, such as the Russia-Ukraine and Middle East conflicts and increasing tension between China and the U.S., including with respect to Taiwan; uncertainty caused by the China anti-corruption campaign and timing of the China stimulus program; changes in government administration policy positions; recent executive orders to impose new tariffs on global imports and uncertainties regarding impact, retaliations and further escalation, including against other countries; and other factors that may emerge. The Company is also continuing to navigate supply chain and inflation challenges, both of which continues to be a significant headwind that affects the Company’s results of operations.

The Company expects that the business of its customers and its own business will continue to be adversely impacted, directly or indirectly, by these macroeconomic and geopolitical issues. In addition, ongoing supply chain challenges and logistics costs, including difficulties in obtaining a sufficient supply of component materials and increased component costs, have adversely affected the Company's gross margins and net income (loss), and the Company currently expects that gross margins and net income (loss) will continue to be adversely affected by increased material costs and freight and logistics expenses through at least calendar year 2025, and potentially longer. In addition, the Company expects inflation and the ongoing supply chain challenges and logistics costs to impact its cash from operations through at least calendar year 2025. In addition, reduced budgets and lower capital deployment priority for radiotherapy equipment, along with longer customer installation timelines, in the United States have negatively impacted net revenue since fiscal year 2024, and the Company expects this will continue to have an impact through fiscal year 2026. The extent of the ongoing impact of these macroeconomic events on our business, our markets and on global economic activity, however, is uncertain and the related financial impact cannot be reasonably estimated with any certainty at this time. The Company’s past results may not be indicative of its future performance, and historical trends, including conversion of backlog to revenue, income (loss) from operations, net income (loss), net income (loss) per share and cash flows may differ materially.

The Company continues to critically review its liquidity and anticipated capital requirements in light of the significant uncertainty created by geopolitical and macroeconomic conditions. Based on the balance of the Company’s cash and cash equivalents, available debt facilities, current business plan and revenue prospects, the Company believes that it will have sufficient cash resources and anticipated cash flows to fund its operations for at least the next 12 months. The Company, however, is unable to predict with certainty the impact that geopolitical and macroeconomic conditions, including their effect

on the global supply chain, inflation and foreign currency exchange rates, will have on its ability to maintain compliance with the covenants contained in the Financing Agreement (as defined below), including financial covenants regarding the consolidated fixed charge coverage ratio, consolidated leverage ratio and minimum liquidity requirements.

Failing to comply with the covenants to the Financing Agreement could adversely affect the Company’s ability to finance its future operations or capital needs, withstand a future downturn in its business or the economy in general, engage in business activities, including future opportunities that may be in its interest, and plan for or react to market conditions or otherwise execute its business strategies. The Company’s ability to comply with the covenants and other terms governing the Financing Agreement will depend in part on its future operating performance. In addition, because substantially all of the Company’s assets are pledged as collateral under the Financing Agreement, if the Company is not able to cure any default or repay outstanding borrowings, such assets are subject to the risk of foreclosure by the Company’s lenders. Failure to satisfy the covenants and other terms governing the Financing Agreement in the future could cause the Company to be in default and the maturity of the related debt could be accelerated and become immediately payable. This may require the Company to obtain waivers or additional amendments to the Financing Agreement in order to maintain compliance and there can be no certainty that any such waiver or amendment will be available, or what the cost of such waiver or amendment, if obtained, would be. If the Company is unable to obtain necessary waivers or amendments and the debt under such credit facility is accelerated, the Company would be required to obtain replacement financing. There can be no assurance that the Company would be able to obtain replacement financing on acceptable terms, or at all, on a timely basis. There can be no assurance that the Company would be able to satisfy its obligations if any of its indebtedness is extended. There is no guarantee that the Company would be able to satisfy its obligations if any of its indebtedness is accelerated.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures at the date of the financial statements. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company. Actual results could differ materially from those estimates.

Foreign Currency

The Company’s international subsidiaries use their local currencies as their functional currencies. For those subsidiaries, assets and liabilities are translated at exchange rates in effect at the balance sheet date and income and expense accounts at the average exchange rate. Resulting translation adjustments are excluded from the determination of net income or loss and are recorded in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity. Net foreign currency exchange transaction gains or losses are included as a component of other expense, net, in the Company’s consolidated statements of operations and comprehensive income (loss).

Cash, Cash Equivalents and Restricted Cash

The Company considers currency on hand, demand deposits, time deposits, and all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. Cash and cash equivalents are held in various financial institutions in the United States and internationally.

Restricted cash primarily consists of cash held in bank accounts which are for certificates of deposit held as guarantees in connection with customer contracts and corporate leases, and funds held as guarantees for Value‑Added Tax (“VAT”) obligations in a foreign jurisdiction.

Fair Value Measurements

The carrying values of the Company’s financial instruments including cash equivalents, restricted cash, accounts receivable, and accounts payable, are approximately equal to their respective fair values due to the relatively short‑term nature of these instruments. The Company’s Term Loan Facilities approximated fair value due to variable interest rate charged on the borrowings, which reprice frequently. The Company’s convertible debt is measured on a recurring basis. The Company’s Premium Warrants were recorded at their relative fair value in additional paid-in capital at the time of issuance,

and its warrant liabilities are remeasured to their respective fair value each reporting period. See Note 6, Fair Value Measurements, of the notes to consolidated financial statements for further information.

Concentration of Credit Risk and Other Risks and Uncertainties

The Company’s cash and cash equivalents are primarily deposited with several major financial institutions. At times, deposits in these institutions exceed the amount of insurance provided on such deposits. The Company has not experienced any losses in such accounts and believes that it is not exposed to any significant risk on these balances.

The Company had one customer that represented 10% or more of total net revenue for the years ended June 30, 2025 and 2024, respectively. The Company had one customer as of June 30, 2025 and 2024, respectively, that accounted for more than 10% of accounts receivable, net.

Single‑source suppliers presently provide the Company with several components. In most cases, if a supplier was unable to deliver these components, the Company believes that it would be able to find other sources for these components subject to any regulatory qualifications, if required.

Accounts Receivable

Accounts receivable consist of amounts billed and unbilled from customers and are recorded at the invoiced amount. The Company performs ongoing credit evaluations of its customers and maintains reserves for potential credit losses based upon the expected collectability of all accounts receivable. Accounts receivable are deemed past due in accordance with the contractual terms of the agreement. The Company writes off accounts receivable when they are determined to be uncollectible.

Inventories

Inventories are stated at the lower of cost (on a first‑in, first‑out basis) or net realizable value. Excess and obsolete inventories are written down based on historical sales and forecasted demand, as judged by management.

Revenue Recognition

The Company’s revenue consists of product revenue resulting from the sale of systems, system upgrades and service revenue. The Company accounts for a contract with a customer when there is a legally enforceable contract between the Company and its customer, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. The Company’s revenues are measured based on the consideration specified in the contract with each customer, net of any discounts and taxes collected from customers that are remitted to government authorities.

The Company’s revenue is primarily derived from sales of CyberKnife and TomoTherapy platforms and services, which include post-contract customer support (“PCS”), installation services, training and other professional services.

The majority of the Company's revenue arrangements consist of multiple performance obligations, which can include system, upgrades, installation, training, services, construction, and consumables. For bundled arrangements, the Company accounts for individual products and services separately if a product or service is separately identifiable from other items in the bundled package and if a customer can benefit from it on its own or with other resources that are readily available to the customer.

The Company’s products are generally sold without a right of return, and the Company’s contracts generally provide a fixed transaction price. The Company may offer incentives in the form of discounts, including volume system discounts, which are included in the contract and used to calculate the final fixed price of the arrangement. These discounts may pertain to all performance obligations in a specific contract or may be allocated to a specific performance obligation. The Company reviews payment terms extending beyond one year. If it is determined that a material financing component exists, we recognize this as interest income over time. The Company applies the practical expedient to not adjust for a material

financing component if the gap between payment and delivery was expected, at the contract inception, to be less than one year.

The Company offers customers the opportunity to trade in their older systems for a discount off the purchase of a new system. The Company generally does not provide specific trade-in prices or upgrade rights at the time of purchase of the original system. Trade-in or upgrade transactions are based on the fair value of the products when sold and are separately negotiated, taking into consideration circumstances existing at the time the trade-in or upgrade is delivered. Accordingly, implied trade-ins and upgrades discounts are not considered separate performance obligations in system sales agreements. During fiscal years 2025 and 2024, no fair value has been assigned to any of the systems that were traded-in.

The stand-alone selling price ("SSP") of performance obligations is determined based on observable prices at which the Company separately sells the products and services. If the SSP is not directly observable, then the Company estimates the SSP considering market conditions, entity-specific factors, and information about the customer or class of customer that is reasonably available. The contract consideration allocation is based on the SSP at contract inception and updated should a significant contract modification occur. The consideration (net of any discounts) is allocated among separate products and services in a bundle based on their relative SSPs. Contract modifications typically add additional goods or services or change pricing. For such modifications, the most recent SSP is used for reallocation to the remaining performance obligations.

The Company recognizes revenue for certain performance obligations at the point in time when control is transferred, such as the delivery and right to use the products and upgrades occurs. Service revenue is recognized over the term of the service period as the customer benefits from the services throughout the service period. Revenue related to services that are not part of a service contract and performed on a time-and-materials basis are recognized when performed. Service contracts comprise a single stand-ready performance obligation satisfied over time as our customers simultaneously receive and consume benefits from the Company's performance. This performance obligation constitutes a series of services that are substantially the same and provided over time using the same measure of progress. Revenues derived from these arrangements are recognized over time using an output method based upon the passage of time as this provides a faithful depiction of the pattern of transfer of control.

The Company recognizes an asset for the incremental costs of obtaining a contract with a customer when the Company expects to generate future economic benefits from the related revenue-generating contracts. The Company capitalizes incremental contract acquisition costs, and amortizes such costs over a five year period, the period which the Company expects to benefit, based on historical service renewal rates, and expectations of future customer renewals. Most of the Company’s contract costs are associated with its internal sales force compensation program and a portion of its employee bonus program. The Company capitalizes and amortizes the incremental costs of obtaining a contract, primarily related to certain bonuses and sales commissions. The capitalized bonuses and sales commissions are amortized over a period of five years commencing upon the initial transfer of control of the system to the customer. The pattern of amortization is commensurate with the pattern of transfer of control of the performance obligations to the customer. The amortization of these contract assets is included in cost of sales, research and development, sales and marketing, and general and administrative expenses based on department headcount allocations in the consolidated statements of operations. The Company elected to use the practical expedient and expense as incurred commissions related to service renewals and upgrades because the amortization period is one year or less.

The Company invoices its customers based on the billing schedules in its sales arrangements. Payment terms vary from 30 to 90 days, or longer, from the date of invoice. Contract assets for the periods presented primarily represent the difference between the revenue that was recognized based on the relative standalone selling price of the related performance obligations satisfied, and the contractual billing terms. Deferred revenue for periods presented primarily relates to service contracts where the service fees are billed up-front, generally quarterly or annually, prior to services being performed. The associated deferred revenue is generally recognized over the term of the service period. The Company did not have any significant impairment losses on its contract assets for any period presented.

Deferred Revenue and Customer Advances

Deferred revenue represents the amount billed under an arrangement in excess of the amount of revenue recognized. It primarily consists of unfulfilled obligations from open contracts for which performance has already started including short-shipped items, deferred warranty, training, maintenance services and other unperformed or incomplete performance obligations. Service contracts outside of the warranty period, for maintenance services, in general, are considered

month-to-month contracts. Deferred revenue includes deferred warranty expected to be recognized over the remaining warranty period for systems already installed.

Customer advances represent payments made by customers in advance of product shipment per the agreed upon contract terms.

Property and Equipment

Property and equipment are stated at cost and are depreciated using the straight‑line method over the estimated useful lives of the related assets. Leasehold improvements are depreciated on a straight‑line basis over the remaining term of the lease or the estimated useful life of the asset, whichever is shorter. Machinery and equipment are depreciated over five years. Furniture and fixtures are depreciated over four years. Computer and office equipment and computer software are depreciated over three years. Repairs and maintenance costs, which are not considered improvements and do not extend the useful life of the property and equipment, are expensed as incurred.

Software Capitalization Costs

Certain costs for the development of new software products and the substantial enhancements to existing software products for internal use are capitalized when it is considered probable that the software will be fully developed and used to perform its intended function. Capitalized costs for the development of internal use software are included in property, plant and equipment, net on the consolidated balance sheets. Capitalized costs for internal use software are amortized on a straight-line basis over its estimated useful life, which is generally five years. Costs related to the preliminary project stage, post-implementation, training and maintenance are expensed as incurred.

Certain costs for the development of software the Company plans to sell, lease or market on its own or as part of another product is capitalized once technological feasibility is achieved. The Company will capitalize costs until the product is ready to be sold, at which time, it will amortize the capitalized costs over the estimated useful life. Costs for the development of software the Company plans to sell is recorded in Other assets on the consolidated balance sheets.

Impairment of Long‑Lived Assets

The Company reviews long-lived assets, including intangible assets, equity method investment in the JV, property and equipment, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable using pretax undiscounted cash flows. Impairment, if any, is measured as the amount by which the carrying value of a long-lived asset exceeds its fair value.

Goodwill

Goodwill is not amortized but is evaluated for impairment on an annual basis and when impairment indicators are present. The Company has assessed that it has one operating segment and one reporting unit, and the consolidated net assets, including existing goodwill and other intangible assets, are considered to be the carrying value of the reporting unit. The Company estimates the fair value of the reporting unit based on the Company’s closing stock price on the trading day closest to the annual review date multiplied by the outstanding shares on that date. If the carrying value of the reporting unit is in excess of its fair value, an impairment may exist, and the Company must perform the second step of the analysis, in which the estimated fair value of the goodwill is compared to its carrying value to determine the impairment charge, if any. If the estimated fair value of the reporting unit exceeds the carrying value of the reporting unit, goodwill is not impaired and no further analysis is required. There was no impairment of goodwill identified in the fiscal years ended June 30, 2025 and 2024.

Shipping and Handling

The Company’s billings for shipping and handling for product shipments to customers are included in cost of products. Shipping and handling costs incurred for inventory purchases are capitalized in inventory and expensed in cost of products.

Research and Development Costs

Costs related to research, design and development of products are charged to research and development expense as incurred. These costs include direct compensation, benefits, and other headcount related costs for research and development personnel, costs for materials used in research and development activities, costs for outside services, and allocated portions of facilities and other corporate costs. The Company has entered into research and clinical study arrangements with selected hospitals, cancer treatment centers, academic institutions and research institutions worldwide. These agreements support the Company’s internal research and development capabilities.

Share‑Based Compensation

The Company issues share‑based compensation awards to employees and directors in the form of stock options, restricted stock units (“RSUs”), performance units (“PSUs”) and employee stock purchase plan (“ESPP”) awards (collectively, “awards”).

The exercise price of stock options granted is equal to the market value of the Company’s common stock on the date of grant. Share‑based compensation for stock options and ESPP awards are measured on the date of grant using a Black‑Scholes option pricing model. Share‑based compensation expense for RSUs and PSUs is measured based on the value of the Company’s common stock on the date of grant.

The Company measures and recognizes compensation expense for all stock‑based awards based on the awards’ fair value. Share‑based compensation expense for stock options, RSUs, and the ESPP awards is recognized on a straight‑line basis over the service period of the award. Share-based compensation expense for PSUs is recognized on a straight-line basis over the period of time for the performance conditions to be satisfied and only for those awards expected to vest. Forfeitures are recorded as they occur.

Warrants

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Distinguishing Liabilities from Equity ASC 480 (“ASC 480”) and Derivatives and Hedging ASC 815, (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued warrants that meet all of the criteria for equity classification, the warrants are recorded at their relative fair value in additional paid-in capital at the time of issuance. For issued warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and remeasured at each balance sheet date thereafter. In accordance with the guidance contained in ASC 815, the Premium Warrants (as defined in Note 7) qualify for equity treatment. The fair value of the Premium Warrants was estimated using a Black-Scholes method (see Note 9 “Stockholders’ Equity” for more information). The Penny Warrants (as defined in Note 7) do not qualify as equity and are recorded as a liability at fair value. Changes in the estimated fair value of the Penny Warrants are recognized as a non-cash gain or loss on the statements of operations and comprehensive income (loss).

Loss Contingencies

The Company is involved in various lawsuits, claims and proceedings that arise in the ordinary course of business. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred and the amount can be reasonably estimated. Significant judgment is required to determine both probability and the estimated amount. The Company reviews these provisions quarterly and adjusts these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information.

Earnings Per Common Share

Basic earnings per share is computed based on the weighted average number of shares of common stock and warrants outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period. Dilutive potential common shares include outstanding share awards. Potentially dilutive shares of the Company’s common stock are excluded from the computation of diluted net loss per share for loss periods presented because including them would have been anti-dilutive. Dilutive earnings per share is the same as basic earnings per share for the periods in which the Company had a net loss because the inclusion of outstanding common stock would be anti-dilutive.

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share attributable to stockholders is as follows (in thousands):


	Years Ended June 30,
	2025			2024
Numerator:
Net loss used to compute basic and diluted loss per share	$	(1,591	)	$	(15,545	)
Denominator:
Weighted average shares used to compute basic and diluted loss per share		102,768			98,272
Basic and dilutive net loss per share	$	(0.02	)	$	(0.16	)
Anti-dilutive share-based awards, excluded		12,236			14,052
Anti-dilutive warrants		17,181			—

Warrants Issued in Connection with the Long-term Debt

The Company issued approximately 6.2 million detachable warrants with an exercise price of $0.01 per share (“Penny Warrants”) and 17.2 million detachable warrants with an exercise price of $1.68 per share (“Premium Warrants”) to the lenders of our long-term debt (See Note 9. Stockholders’ Equity, for more information). Accounting guidance dictates that shares issuable for little or no cash consideration upon the satisfaction of certain conditions shall be considered outstanding common shares and included in the computation of basic earnings per share. Since the Penny Warrants are issuable for little or no consideration, they are considered outstanding and are included in the weighted average shares to calculate basic and diluted earnings per share for the year ended June 30, 2025.

Outstanding Convertible Notes—Diluted Share Impact

Due to the optional cash settlement feature and management’s intent to settle the principal amount thereof, in cash, the shares of common stock issuable upon conversion of the outstanding principal amount of the 3.75% Convertible Senior Notes due 2026 (the “Notes”) are included in the calculation of diluted net income (loss) per share only if their inclusion is dilutive for periods during which the Notes were outstanding. The shares of common stock issuable upon conversion of the outstanding principal amount of the Notes as of June 30, 2025, and 2024 were 3.1 million, and 17.1 million, respectively, and were not included in the basic and diluted net loss per common share as the effect of adding the shares were anti-dilutive (See Note 7. Debt, for more information).

Leases

The Company is the lessee in a lease contract when the Company obtains the right to use the asset. Operating leases are included in the line items right-of-use assets, lease liabilities, current, and lease liabilities, long-term in the consolidated balance sheet. Right-of-use asset represents the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligations to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded on the consolidated balance sheet and are expensed on a straight-line basis over the lease term in the consolidated statements of operations. The Company determines the lease term by agreement with lessor, including lease renewal and extension. As the leases do not provide an implicit interest rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the

present value of future payments. The Company elected a practical expedient to account for lease and non-lease components together as a single lease component.

Equity Method Investment

The Company has an equity investment in CNNC Accuray (Tianjin) Medical Technology Co. Ltd., the Company’s JV. The Company applies the equity method of accounting to its ownership interest in the JV as the Company has the ability to exercise significant influence over the JV but lacks controlling financial interest and is not the primary beneficiary. The Company's investment in the JV is measured at cost and adjusted for the Company’s share of the JV's income or loss, intra-entity profits, dividend distributions, currency translation adjustments, and impairments, if any. The Company recognizes its proportionate share of income or loss from the JV on a one-quarter lag due to the timing of the availability of the JV’s financial records. Profit earned by the Company from the JV is eliminated through cost of goods sold until it is realized; such profits would generally be considered realized when the inventory has been sold through to third parties.

The JV's equity method goodwill is not amortized but is evaluated for impairment on an annual basis and when impairment indicators are present. Our impairment analysis considers qualitative and quantitative factors that may have a significant impact on the JV's fair value. Qualitative factors include the investee's financial condition and business outlook, industry and sector performance, operational and financing cash flow activities, and other relevant factors affecting the JV. When indicators of impairment exist, we prepare quantitative assessments of the fair value of our non-marketable equity investments, which require judgment and the use of estimates, including discount rates, investee revenue and costs, and comparable market data, among others.

Income Taxes

The Company is required to estimate its income taxes in each of the tax jurisdictions in which it operates prior to the completion and filing of tax returns for such periods. This process involves estimating actual current tax expense together with assessing temporary differences in the treatment of items for tax purposes versus financial accounting purposes that may create net deferred tax assets and liabilities. The Company accounts for income taxes under the asset and liability method, which requires, among other things, that deferred income taxes be provided for temporary differences between the tax bases of the Company’s assets and liabilities and their financial statement reported amounts. In addition, deferred tax assets are recorded for the future benefit of utilizing net operating losses, research and development credit carryforwards and other deferred tax assets.

The Company records a valuation allowance to reduce its deferred tax assets to the amount the Company believes is more likely than not to be realized. Because of the uncertainty of the realization of the deferred tax assets, the Company has recorded a full valuation allowance against its domestic and certain foreign net deferred tax assets.

Accumulated Other Comprehensive Income (Loss)

The components of comprehensive income (loss) consist of net income (loss), changes in foreign currency exchange rate translation and net changes related to a defined benefit pension plan. The changes in foreign currency exchange rate translation and net changes related to the defined benefit pension plan are excluded from earnings and reported as a component of stockholders’ equity. The foreign currency translation adjustment results from those subsidiaries not using the United States dollar as their functional currency since the majority of their economic activities are denominated in their applicable local currency. Accordingly, all assets and liabilities related to these operations are translated at the current exchange rates at the end of each period, whereas revenues and expenses are translated at average exchange rates in effect during the period. The resulting cumulative translation adjustments are recorded directly to the accumulated other comprehensive loss account in stockholders’ equity.

Recent Accounting Pronouncements

Accounting Pronouncements - Adopted

In November 2023, the FASB issued ASU 2023-07 to improve reportable segment disclosures. The ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The ASU also requires all annual disclosures to be disclosed in interim periods. The update is effective for annual periods beginning after December 15, 2023 and interim periods within annual periods beginning after December 15, 2024. The Company adopted ASU 2023-07 on July 1, 2024. The Company assessed the impact of this update and it did not have a material impact on its consolidated financial statement disclosure requirements.

Accounting Pronouncements - Not Yet Effective

In November 2024, the Financial Accounting Standards Board (“FASB”) issued accounting standard update (“ASU”) 2024-03 requiring additional disclosure of the nature of expenses included in the income statement. The new standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. The update is effective for annual periods beginning after December 15, 2026. The Company plans to adopt ASU 2024-03 on July 1, 2027. The requirements will be applied prospectively with the option for retrospective application. Early adoption is permitted. The Company is currently assessing the impact of adopting the updated provisions.

In December 2023, the FASB issued ASU 2023-09 to improve the transparency and usefulness of income tax disclosures. The accounting standard expands disclosures to the entity’s income tax rate reconciliation table and requires cash taxes paid disaggregated by jurisdiction. These changes will be applied on a prospective basis. The update is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company plans to adopt ASU 2023-09 on July 1, 2025. The ASU requires retrospective application to all prior periods presented in the financial statements. The Company is currently assessing the timing and impact of adopting the updated provisions.

Debt - Summary of Weighted Average Effective Interest Rate (Details)	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Prior Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average effective interest rate	9.10%	9.50%
Convertible Senior Notes due June 1, 2026
Debt Instrument [Line Items]
Weighted average effective interest rate	4.30%	4.30%
Term Loan Facilities due 2030
Debt Instrument [Line Items]
Weighted average effective interest rate	22.00%	0.00%
Prior Term Loan Facility
Debt Instrument [Line Items]
Weighted average effective interest rate	8.60%	8.60%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
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-Name Accounting Standards Codification
-Section 55
-Paragraph 8
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.12-04(a))
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1B
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1B
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

+ Details

Segment Disclosure - Schedule of Geographic Areas in Which the Company has Long-Lived Assets, Property and Equipment Net and Operating Lease Right of Use Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Segment Information
Long lived tangible assets	$ 61,773	$ 58,547
Americas
Segment Information
Long lived tangible assets	49,466	46,570
EIMEA
Segment Information
Long lived tangible assets	9,220	9,327
China
Segment Information
Long lived tangible assets	1,577	1,211
Japan
Segment Information
Long lived tangible assets	999	1,304
Asia Pacific
Segment Information
Long lived tangible assets	$ 511	$ 135

Retirement Plans - Obligations and Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Change in benefit obligation:
Benefit obligation—beginning of fiscal year	$ 24,059	$ 19,388
Service cost	1,553	1,245
Interest cost	322	381
Plan participants’ contributions	1,806	3,548
Actuarial loss	1,493	2,236
Foreign currency changes	3,275	(124)
Settlements	0	(2,434)
Amendments	(131)	0
Benefit and expense payments	(1,436)	(181)
Benefit obligation—end of fiscal year	30,941	24,059
Change in plan assets:
Plan assets—beginning of fiscal year	21,329	18,761
Employer contributions	1,353	1,265
Actual return on plan assets	2,502	467
Plan participants’ contributions	1,806	3,548
Foreign currency changes	2,996	(97)
Settlements	0	(2,434)
Benefit and expense payments	(1,437)	(181)
Plan assets—end of fiscal year	28,549	21,329
Funded status	(2,392)	(2,730)
Amounts recognized within the consolidated balance sheets:
Long-term other liabilities	(2,392)	(2,730)
Net amount recognized	$ (2,392)	$ (2,730)

Fair Value Measurements - Changes in Fair Value of Penny Warrants (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value	$ 499	$ 0
Penny Warrants \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at the beginning of the period	0	0
Issuance of Penny warrants on June 6, 2025	7,998	0
Change in fair value	499	0
Balance at the end of the period	$ 8,497	$ 0

Stock Incentive Plan and Employee Stock Purchase Plan

12 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Stock Incentive Plan and Employee Stock Purchase Plan

Note 10. Stock Incentive Plan and Employee Stock Purchase Plan

As of June 30, 2025, the Company had two outstanding stock incentive plans: the 2016 Equity Incentive Plan (“2016 Plan”) and the 2007 Incentive Award Plan (“2007 Plan”). The 2016 Plan permits the granting of stock options, stock appreciation rights, restricted stock awards, performance shares, performance units, and RSUs. The vesting of RSUs granted under the 2016 Plan are primarily service‑based (over the requisite service period) while the vesting of performance units granted under the 2016 Plan consist of PSUs. Only employees of the Company are eligible to receive incentive stock options. Non‑employees may be granted non‑qualified stock options.

Stock options granted under the 2016 Plan have an exercise price of at least 100% of the fair market value of the underlying stock on the grant date. The stock options have 10-year contractual terms and generally become exercisable for 25% of the option shares one year from the date of grant and then ratably over the following 36 months. Service‑based RSUs granted generally vest 25% of the share units covered by the grant on each of the first through fourth anniversaries of the date of the grant, subject to the continued service of the grantee through each such date. RSUs granted to the Board of Directors vest over one year. PSUs granted generally vest at the end of a three year performance period and the amount of shares that vest are based on the Company's actual performance relative to predefined performance conditions. The Board of Directors

has the discretion to use different vesting schedules. As of June 30, 2025, the 2007 Plan continued to remain in effect; however, the Company can no longer grant equity awards under such plans.

The following table summarizes the share‑based compensation charges included in the Company’s consolidated statements of operations and comprehensive loss (in thousands):


	Years ended June 30,
	2025		2024
Cost of revenue - product	$	634	$	866
Cost of revenue - service		709		509
Research and development		1,508		1,456
Selling and marketing		2,167		1,905
General and administrative		5,183		4,748
Total	$	10,201	$	9,484

The following table summarizes the share‑based compensation charges for the Company’s equity awards (in thousands):


	Years ended June 30,
	2025		2024
Stock options	$	344	$	741
Restricted stock units		7,948		7,307
Performance stock units		1,166		386
Employee stock purchase plan		743		1,050
Total	$	10,201	$	9,484

Stock Options

The Company did not grant any stock options during the years ended June 30, 2025 and June 30, 2024.

The fair value of stock options grants are determined by using the Black‑Scholes option‑pricing model. This fair value is then amortized over the requisite service periods of the awards. The Company estimates the expected term of stock option by taking the average of the vesting term and the contractual term of the option. The expected volatility is derived from the Company’s historical stock volatility over a period approximately equal to the expected term of the options. The risk‑free interest rate is based on the U.S. Treasury constant maturity rate on the date of grant. The dividend yield assumption is based on the Company’s history and expectation of no dividend payouts.

A summary of option activity under the Company’s incentive plan is presented below (in thousands except per share and term amounts):


	Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (In Years)		Aggregate Intrinsic Value (1)
Balance at June 30, 2024		5,270		$	3.40		2.95	$	—
Options granted		—			—
Options exercised		—			—
Options forfeited/expired		(3,431	)	$	3.59
Balance at June 30, 2025		1,839		$	3.03		5.62	$	—
Vested or expected to vest at June 30, 2025		1,839		$	3.03		5.62	$	—
Exercisable at June 30, 2025		1,662		$	3.13		5.48	$	—

The aggregate intrinsic value represents the total pre-tax intrinsic value, which is computed based on the difference between the exercise price and the closing price of Accuray common stock of $1.37 and $1.82 on June 30, 2025 and June 30, 2024,

respectively, The amount represents what would have been received by the option holders had all option holders exercised their options and sold the shares received upon exercise as of that date.

There were no options exercised during the year ended June 30, 2025. The total intrinsic value of options exercised during the year ended June 30, 2024 was not material. The total cash received from option exercises during the year ended June 30, 2024 was $0.3 million. Tax benefits from tax deductions for exercised options and disqualifying dispositions in excess of the deferred tax asset, attributable to share compensation costs for such options was zero for the years ended June 30, 2025, and 2024. As of June 30, 2025, there was $0.2 million of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of 0.5 years.

The following table summarizes information about outstanding and exercisable options at June 30, 2025 (in thousands, except years and exercise price):


	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number Outstanding		Weighted Average Exercise Price
$1.96 – $1.96		200		7.00	$	1.96		150	$	1.96
$2.08 – $2.08		556		6.92	$	2.08		429	$	2.08
$2.60 – $2.60		397		4.34	$	2.60		397	$	2.60
$4.10 – $4.46		553		4.64	$	4.32		553	$	4.32
$4.52 – $4.52		133		6.00	$	4.52		133	$	4.52
Total outstanding		1,839		5.62	$	3.03		1,662	$	3.13

Restricted Stock and Performance Stock

The following table summarizes the activity of RSUs and PSUs (in thousands, except fair value per share):


Unvested Restricted Stock	Restricted Stock Units			Performance Stock Units			Total Number of Shares Underlying Stock Awards			Weighted Average Grant Date Fair Value Per Share
Unvested at June 30, 2024		5,969			2,813			8,782		$	2.66
Granted		4,343			1,235			5,578		$	2.13
Vested		(2,752	)		—			(2,752	)	$	2.68
Cancelled/forfeited		(394	)		(817	)		(1,211	)	$	3.39
Unvested at June 30, 2025		7,166			3,231			10,397		$	2.29

Restricted Stock Units

The grant date fair value of the RSUs granted was $9.2 million and $9.7 million during the years ended June 30, 2025 and 2024, respectively. The aggregate fair market value of the RSUs that vested during the years ended June 30, 2025 and 2024, was $5.5 million and $5.9 million, respectively. As of June 30, 2025, there was $11.5 million of unrecognized compensation cost related to the RSUs, which is expected to be recognized over a weighted average period of 1.4 years.

Performance Stock Units

The grant date fair value of PSUs granted was $2.8 million and $3.3 million during the years ended June 30, 2025 and 2024, respectively. There were no PSUs that vested during the year ended June 30, 2025 because the performance conditions were not met. The aggregate fair value of the PSUs that vested during the year ended June 30, 2024, was $0.4 million. As of June 30, 2025, there was $2.9 million of unrecognized compensation cost related to the PSUs, which is expected to be recognized over a weighted average period of 1.7 years.

Employee Stock Purchase Plan

Under the Company’s Amended and Restated 2007 Employee Stock Purchase Plan, or ESPP, qualified employees are permitted to purchase the Company’s common stock at 85% of the lower of the fair market value of the common stock on the commencement date of each six month offering period, or the fair market value on the specified purchase date. Employees’ payroll deductions may not exceed 10% of their salaries. Employees may purchase up to 2,500 shares per each six month offering period, provided that the value of the shares purchased in any calendar year may not exceed $25,000, as calculated pursuant to the purchase plan.

The Company estimates the fair value of ESPP shares at the date of grant using the Black‑Scholes option pricing model. The weighted average assumptions were as follows:


	Years Ended June 30,
	2025	2024
Risk–free interest rate	4.12% -4.43%	5.05% - 5.39%
Dividend yield	—%	—%
Expected term	0.5 - 1.0	0.5 - 1.0
Expected volatility	44.02% - 83.32%	37.22% - 61.48%

The risk‑free rate for the expected term of the ESPP option was based on the U.S. Treasury constant maturity rate for each offering period; expected volatility was based on the historical volatility of the Company’s common stock; and the expected term was based upon the offering period of the ESPP.

The Company issued 1.2 million and 1.1 million shares under the ESPP during the years ended June 30, 2025 and 2024, respectively, at a weighted average purchase price per share of $1.37 and $1.79, respectively. As of June 30, 2025, total unrecognized compensation cost related to the ESPP plan was $0.6 million, which the Company expects to recognize over a weighted average period of 0.9 years.

Common Stock Available For Issuance

In November 2024, the Company’s stockholders approved to increase the number of shares of common stock available for issuance by 5.0 million shares under its Amended and Restated 2016 Equity Incentive Plan, and to increase the number of shares of common stock available for issuance by 2.5 million shares under its Amended and Restated Accuray Incorporated 2007 Employee Stock Purchase Plan. At June 30, 2025, the Company had 5.2 million shares of common stock reserved for issuance under the stock incentive plans and 2.6 million shares of common stock reserved for issuance under the employee stock purchase plan.

Stockholders' Equity - Summary of Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 45,084	$ 53,659
Balance	81,169	45,084
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(4,777)	(2,332)
Other comprehensive loss	1,557	(2,445)
Balance	(3,220)	(4,777)
Defined Pension Benefit Obligation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	555	2,754
Other comprehensive loss	828	(2,199)
Balance	1,383	555
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(4,222)	422
Other comprehensive loss	2,385	(4,644)
Balance	$ (1,837)	$ (4,222)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 3
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 1
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (c)
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Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Retirement Plans (Tables)

12 Months Ended

Jun. 30, 2025

Defined Benefit Pension Obligation Disclosure [Abstract]

Schedule of funded status

The following table presents the funded status of the defined benefit pension plan (in thousands):


	June 30,
	2025			2024
Change in benefit obligation:
Benefit obligation—beginning of fiscal year	$	24,059		$	19,388
Service cost		1,553			1,245
Interest cost		322			381
Plan participants’ contributions		1,806			3,548
Actuarial loss		1,493			2,236
Foreign currency changes		3,275			(124	)
Settlements		—			(2,434	)
Amendments		(131	)		—
Benefit and expense payments		(1,436	)		(181	)
Benefit obligation—end of fiscal year	$	30,941		$	24,059
Change in plan assets:
Plan assets—beginning of fiscal year	$	21,329		$	18,761
Employer contributions		1,353			1,265
Actual return on plan assets		2,502			467
Plan participants’ contributions		1,806			3,548
Foreign currency changes		2,996			(97	)
Settlements		—			(2,434	)
Benefit and expense payments		(1,437	)		(181	)
Plan assets—end of fiscal year	$	28,549		$	21,329
Funded status	$	(2,392	)	$	(2,730	)
Amounts recognized within the consolidated balance sheets:
Long-term other liabilities	$	(2,392	)	$	(2,730	)
Net amount recognized	$	(2,392	)	$	(2,730	)

Schedule of amounts recognized in accumulated other comprehensive income (loss) (before tax)

The following table presents the amounts recognized in accumulated other comprehensive loss (before tax) for the defined benefit pension plan (in thousands):


	June 30,
	2025		2024
Net actuarial gain	$	1,128	$	428
Prior service credit		254		127
Total gain recognized in accumulated other comprehensive loss	$	1,382	$	555

Schedule of projected benefit obligations, accumulated benefit obligation and fair value of plan assets where accumulated benefit obligation exceeded fair value of plan assets

The following table presents the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for this defined benefit pension plan where accumulated benefit obligation exceeded the fair value of plan assets (in thousands):


	June 30,
	2025		2024
Projected benefit obligation	$	30,941	$	24,059
Accumulated benefit obligation	$	22,747	$	20,946
Fair value of plan assets	$	28,549	$	21,329

Schedule Of Net Benefit Costs And Other Amounts Recognized In Other Comprehensive Income Loss Table Text Block

The following table shows the components of the Company’s net periodic benefit costs and the other amounts recognized in other comprehensive loss, before tax, related to the Company’s defined benefit pension plan (in thousands):


	Year ended June 30,
	2025			2024
Net Periodic Benefit Costs:
Service cost	$	1,553		$	1,245
Interest cost		322			381
Expected returns on assets		(330	)		(284	)
Amortization of prior service credit		(24	)		(24	)
Amortization of net gain		—			(92	)
Gain on settlement		—			(65	)
Net periodic benefit costs		1,521			1,161
Other Amounts Recognized in Other Comprehensive Loss:
Net (gain) loss arising during the year		(715	)		2,019
Prior service credit		26			24
Amortization of prior service credit		(139	)		—
Amortization of net gain		—			91
Effect of settlement		—			65
Total (gain) loss recognized in other comprehensive loss		(828	)		2,199
Total recognized in net periodic benefit costs and other comprehensive loss	$	693		$	3,360

Schedule of amounts in accumulated other comprehensive loss that are expected to be recognized

The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during fiscal year 2026 related to the Company’s defined benefit pension plan are as follows (in thousands):


	2026
Net loss	$	—
Prior service cost		32
Accumulated other comprehensive income	$	32

Schedule of assumptions used to determine net periodic benefit cost and benefit obligation

The assumptions used to determine net periodic benefit cost and to compute the expected long‑term return on assets for the Company’s defined benefit pension plan were as follows:


	Fiscal Years
	2025			2024
Net Periodic Benefit Costs:
Discount rate		1.20	%		1.30	%
Rate of compensation increase		1.75	%		1.75	%
Expected long-term return on assets		1.50	%		1.50	%

The assumptions used to measure the benefit obligation for the Company’s defined benefit pension plan were as follows:


	June 30,
	2025			2024
Benefit Obligation:
Discount rate		1.20	%		1.30	%
Rate of compensation increase		1.75	%		1.75	%

Schedule of estimated future benefit payments

Estimated future benefit payments expected to be paid by the defined benefit pension plan at June 30, 2025 are as follows (in thousands):


Year Ending June 30,	Future Benefits
2026	$	1,745
2027		1,530
2028		1,580
2029		1,648
2030		2,564
Thereafter		10,841
Total estimated future benefit payments	$	19,908

Stockholders' Equity

12 Months Ended

Jun. 30, 2025

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Note 9. Stockholders’ Equity

Common Stock

The Company has 200.0 million shares authorized as of June 30, 2025 and 2024 and 112.6 million and 100.2 million shares issued and outstanding as of June 30, 2025 and 2024, respectively.

Common stock purchase warrants issued in connection with long-term debt

On June 6, 2025, concurrently with its entry into the Financing Agreement, the Company issued detachable warrants to purchase the Company’s common stock to certain of its Warrant Holders under the Financing Agreement. The Warrant Holders were issued warrants to purchase 17,180,710 Premium Warrants with an exercise price of $1.68 per share, exercisable on and after December 7, 2025 and expiring on June 6, 2032 and 6,247,531 Penny Warrants with an exercise price of $0.01 per share exercisable immediately and expiring on June 6, 2032. No Penny Warrants were exercised as of June 30, 2025. Pursuant to the terms of the Financing Agreement, if the Company uses the Delay Draw Facility, the Company will be obligated to issue additional detachable warrants on terms substantially similar to the Warrants to certain of its lenders under the Financing Agreement.

The Warrants have certain anti-dilution protection provisions, including price protection anti-dilution protection in the event that we sell stock at a price below $1.00 in the case of the Penny Warrants and $1.25 in the case of the Premium Warrants. We agreed to issue the Warrants in connection with, and to induce the lenders to enter into, the Financing Agreement.

The Warrants and the shares of common stock issuable upon the exercise of such Warrants have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be sold absent registration or an applicable exemption from the registration requirements of the Securities Act. Based in part upon the representations of each holder in each warrant, the offering and sale of each warrant is exempt from registration under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated under the Securities Act.

The Premium Warrants were valued at $13.1 million using a relative fair value method and is recorded in additional paid-in capital. Further, $0.3 million in financing fees incurred in connection with the issuance of the Premium Warrants is recorded in a contra-equity account.

Common shares issued to Convertible Note holders

On June 5, 2025, the Convertible Noteholders agreed to Exchange approximately $82.0 million aggregate principal amount of the Convertible Noteholders’ existing Convertible Notes for (i) an aggregate of 8,881,579 Shares, valued at $1.52 per share based on the closing stock price on June 5, 2025, or $13.5 million in the aggregate and (ii) an aggregate cash payment of approximately $68.5 million. On June 11, 2025, the Exchange was consummated and the Company issued the Shares to the Convertible Noteholders. On their issuance date, the Shares were valued at $1.25 per share based on the closing stock price on June 11, 2025, or $11.1 million in the aggregate. The decrease in stock price from the agreement date to the issuance date resulted in a $2.4 million gain, which was recorded as a gain on extinguishment of debt. The Company paid approximately $0.4 million in fees to issue the common shares which was recorded as a permanent adjustment to paid-in-capital.

Treasury Stock

The Company records treasury stock at cost. Treasury stock is comprised of shares of common stock purchased by the Company in the secondary market. As of June 30, 2025, and June 30, 2024, the Company had 3.1 million shares of treasury stock valued at $14.1 million. Treasury stock is included in Additional paid-in capital on the consolidated balance sheets.

Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in accumulated other comprehensive income (loss) by component (in thousands):


	Cumulative Translation Adjustment			Defined Pension Benefit Obligation			Total
Balance at June 30, 2023	$	(2,332	)	$	2,754		$	422
Other comprehensive loss		(2,445	)		(2,199	)		(4,644	)
Balance at June 30, 2024	$	(4,777	)	$	555		$	(4,222	)
Other comprehensive loss		1,557			828			2,385
Balance at June 30, 2025	$	(3,220	)	$	1,383		$	(1,837	)

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 235
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
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-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Leases - Schedule of Operating Leases (Details) - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2025

Jun. 30, 2024

Leases [Abstract]

Operating lease costs

^[1]

$ 8,980

$ 9,146

Short-term operating lease costs

286

305

Cash paid for amounts included in the measurement of lease liabilities

$ 8,011

$ 9,013

[1]	Excludes expenses related to short-term lease operating costs.

Leases - Schedule of Operating Lease Right-of-use Assets and Operating Lease Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Leases [Abstract]
Beginning balance operating lease right-of-use assets	$ 33,773	$ 25,853
Lease assets added	4,624	14,389
Amortization for the year	(5,282)	(6,469)
Ending balance operating lease right-of-use assets	33,115	33,773
Beginning balance operating lease obligations	38,591	27,753
Lease liabilities added	5,726	16,775
Repayment and interest accretion	(4,460)	(5,937)
Ending balance operating lease obligations	39,857	38,591
Current portion of operating lease obligations	7,375	6,218
Noncurrent portion of operating lease obligations	$ 32,482	$ 32,373

Joint Venture (Tables)

12 Months Ended

Jun. 30, 2025

Equity Method Investments and Joint Ventures [Abstract]

Summary of Reconciliation Between the Carrying Value of Investment and Proportional Share of Underlying Equity in Net Assets of Joint Ventures

The following table shows the reconciliation between the carrying value of the Company's investment in the JV and its proportional share of the underlying equity in net assets of the JV (in thousands):


	June 30, 2025			June 30, 2024
Carrying value of investment in joint venture	$	4,612		$	9,826
Deferred intra-entity profit margin		17,501			9,835
Dividend declared		2,453			-
Equity method goodwill		(4,720	)		(4,720	)
Proportional share of equity investment in joint venture	$	19,846		$	14,941

Summary of Financial Information of Joint Ventures (Operations Data)

Summarized financial information of the JV is as follows (in thousands):


Statement of Operations Data:	Twelve Months Ended March 31, 2025		Twelve Months Ended March 31, 2024
Revenue	$	160,213	$	114,942
Gross profit	$	29,438	$	22,137
Net income	$	9,617	$	3,750
Net income attributable to the Company	$	4,714	$	1,838

Summary of Financial Information of Joint Ventures (Balance Sheet Data)


Summarized Balance Sheet Data:	As of March 31, 2025		As of March 31, 2024
Assets
Current assets	$	172,109	$	102,500
Non current assets		16,426		12,425
Total assets	$	188,535	$	114,925
Liabilities and Stockholders' Equity
Current liabilities	$	146,587	$	79,300
Non current liabilities		1,334		113
Stockholder's equity		40,614		35,512
Total liabilities and stockholders' equity	$	188,535	$	114,925

Schedule of Deferred Intra Entity Profit Margin from Sales to the Joint Ventures

The following table shows the activity of the Company’s deferred intra-entity profit margin from sales to the JV (in thousands):


	Years Ended June 30,
	2025			2024
Deferred gross profit recognized on sales to the JV	$	(16,738	)	$	(9,061	)
Deferred gross profit on sales to the JV		24,404			13,159
Net deferred gross profit on sales to the JV (1)	$	7,666		$	4,098

(1)

Profit earned by the Company from the JV is eliminated through cost of goods sold until it is realized; such profits would generally be considered realized when the inventory has been sold through to third parties.

Derivative Financial Instruments

12 Months Ended

Jun. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Note 5. Derivative Financial Instruments

The Company utilizes foreign currency forward contracts with reputable financial institutions to manage its exposure of fluctuations in foreign currency exchange rates on certain intercompany balances and foreign currency denominated cash, customer receivables and liabilities. The Company does not use derivative financial instruments for speculative or trading purposes. These forward contracts are not designated as hedging instruments for accounting purposes. Principal hedged currencies primarily include the Japanese Yen, Swiss Franc, and Euro. The periods of these forward contracts range up to approximately three months and the notional amounts are intended to be consistent with changes in the underlying exposures. The Company intends to exchange foreign currencies for U.S. Dollars at maturity. The Company enters into forward currency exchange contracts to hedge its overseas operating expenses and other liabilities when deemed appropriate.

The notional amount of the Company's outstanding forward currency exchange contracts consisted of the following (in thousands):


	As of June 30,
	2025		2024
Swiss Franc	$	7,438	$	59,392
Japanese Yen		8,700		7,762
Euro		11,431		2,755
Indian Rupee		7,485		8,916
Chinese Yuan		5,491		5,156
Korean Won		1,306		1,735
Canadian Dollar		—		1,510
British Pound		1,617		730
Total outstanding forward currency exchange contracts	$	43,468	$	87,956

The Company entered into the foreign currency forward contracts on June 30, 2025 and June 30, 2024. There is no significant change in our mark-to-market analysis, and therefore, there was no amount recorded on the balance sheets.

Gains and losses on the Company's foreign currency forward contracts are recorded in Other expense, net, on the Company's consolidated statements of operations and comprehensive income (loss). The following table provides information about the gain or loss associated with the Company’s derivative financial instruments not designated as hedging instruments (in thousands):


	Years ended June 30,
	2025		2024
Foreign currency exchange gain (loss) on forward contracts	$	655	$	(613	)

Supplemental Financial Information - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Accrued Liabilities and Other Liabilities [Abstract]
Value added tax liabilities	$ 12,408	$ 5,048
Commissions due to third parties	573	5,202
Refunds due to customers	3,581	6,079
Accrued royalties	3,082	2,939
Accrued consulting	1,648	1,238
Interest payable	967	485
Income tax payable	973	1,206
Other liabilities	6,129	6,311
Total other accrued liabilities	$ 29,361	$ 28,508

Supplemental Financial Information - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Other Assets [Abstract]
Capitalized software costs to be sold	$ 10,252	$ 4,683
Capitalized contract costs	5,359	7,768
Long-term accounts receivable	3,777	2,859
Purchased intangible assets, net	15	59
Deferred tax asset	756	659
Debt financing costs	669	0
Other long-term assets	3,615	1,981
Total other assets	$ 24,443	$ 18,009

Retirement Plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Defined Benefit Pension Obligation
Employer's contribution to the 401(k) Plan	$ 2,200	$ 2,100
Employer contributions	1,353	$ 1,265
Expected total contributions to defined benefit pension plan for fiscal year 2024	$ 1,500
Copre Foundation
Defined Benefit Pension Obligation
Expected interest rate for mandatory retirement savings (as a percent)	1.50%	1.50%
Defined benefit pension plan
Defined Benefit Pension Obligation
Employer contributions	$ 1,400	$ 1,300

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2023
Income Taxes [Line Items]
Valuation allowance percentage established for domestic and foreign net assets	100.00%
Undistributed earnings of foreign subsidiaries	$ 11,800
Tax expected to be paid on the remittance of unrepatriated distributable reserves	2,100
Gross unrecognized tax benefits	22,649	$ 22,044	$ 21,565
Unrecognized tax benefits that would not affect income tax expense	$ 21,800
Minimum
Income Taxes [Line Items]
Statutes of limitations with respect to jurisdictions (in years)	3 years
Maximum
Income Taxes [Line Items]
Statutes of limitations with respect to jurisdictions (in years)	10 years
Federal
Income Taxes [Line Items]
Net operating loss carryforwards	$ 260,900
Tax credits	28,500
State
Income Taxes [Line Items]
Net operating loss carryforwards	119,900
State \| Research and development
Income Taxes [Line Items]
Tax credits	$ 22,800

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Jun. 30, 2025

Jun. 30, 2024

Net revenue:

Revenue

$ 458,505

$ 446,551

Cost of revenue:

Total cost of revenue

^[1]

311,538

303,630

Gross profit

146,967

142,921

Operating expenses:

Research and development

^[2]

47,942

49,732

Selling and marketing

43,315

42,619

General and administrative

47,871

50,066

Total operating expenses

139,128

142,417

Income from operations

7,839

504

Income from equity method investment

4,714

1,838

Interest expense

(12,954)

(11,624)

Gain on extinguishment of debt

1,475

Loss from change in fair value of warrant liability

(499)

Other income (expense), net

559

(2,538)

Income (loss) before provision for income taxes

1,134

(11,820)

Provision for income taxes

2,725

3,725

Net loss

$ (1,591)

$ (15,545)

Net loss per share, Basic

$ (0.02)

$ (0.16)

Net loss per share, Diluted

$ (0.02)

$ (0.16)

Weighted average common shares used in computing net loss per share:

Basic

102,768

98,272

Diluted

102,768

98,272

Net Income (Loss)

$ (1,591)

$ (15,545)

Foreign currency translation adjustment

1,557

(2,445)

Change in defined benefit pension obligation

828

(2,199)

Comprehensive income (loss)

794

(20,189)

Products

Net revenue:

Revenue

^[3]

237,580

234,164

Cost of revenue:

Total cost of revenue

162,569

161,061

Services

Net revenue:

Revenue

^[4]

220,925

212,387

Cost of revenue:

Total cost of revenue

$ 148,969

$ 142,569

[1]	Includes cost of revenue from sales to the joint venture, an equity method investment, of $74,421 during the year ended June 30, 2025, and $59,853 during the year ended June 30, 2024. See Note 11.
[2]	Includes charge backs to the joint venture, an equity method investment, related to research and development of $1,482 during the year ended June 30, 2025 and $942 during the year ended June 30, 2024.
[3]	Includes sales of products to the joint venture, an equity method investment, of $101,563 during the year ended June 30, 2025, and $77,497 during the year ended June 30, 2024. See Note 11.
[4]	Includes sales of services to the joint venture, an equity method investment, of $18,521 during the year ended June 30, 2025, and $15,039 during the year ended June 30, 2024. See Note 11.

Stock Incentive Plan and Employee Stock Purchase Plan - Summary of Activity of RSUs and PSUs (Details)	12 Months Ended
	Jun. 30, 2025 $ / shares shares
Restricted Stock Units
Total Number of Shares Underlying
Unvested at the beginning of the year (in shares)	5,969,000
Granted (in shares)	4,343,000
Vested (in shares)	(2,752,000)
Cancelled/forfeited (in shares)	(394,000)
Unvested at the end of the year (in shares)	7,166,000
Performance Stock Units
Total Number of Shares Underlying
Unvested at the beginning of the year (in shares)	2,813,000
Granted (in shares)	1,235,000
Vested (in shares)	0
Cancelled/forfeited (in shares)	(817,000)
Unvested at the end of the year (in shares)	3,231,000
Restricted Stock Units Performance Shares
Total Number of Shares Underlying
Unvested at the beginning of the year (in shares)	8,782,000
Granted (in shares)	5,578,000
Vested (in shares)	(2,752,000)
Cancelled/forfeited (in shares)	(1,211,000)
Unvested at the end of the year (in shares)	10,397,000
Weighted Average Grant Date Fair Value Per Share
Unvested at the beginning of the year (in dollars per share) \| $ / shares	$ 2.66
Granted (in dollars per share) \| $ / shares	2.13
Vested (in dollars per share) \| $ / shares	2.68
Cancelled/Forfeited (in dollars per share) \| $ / shares	3.39
Unvested at the end of the year (in dollars per share) \| $ / shares	$ 2.29

Revenue - Summary of Expenses Related to Capitalized Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Capitalized contract costs	$ 852	$ 2,958
Amortization of capitalized contract costs	2,726	4,068
Impairment loss on capitalized contracts	$ 421	$ 128

Income Taxes - Schedule of Reconciliation of Income Taxes at the Statutory Federal Income Tax Rate to the Provision for Income Taxes Included in the Accompanying Consolidated Statements of Operations and Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
U.S. federal taxes (benefit):
At federal statutory rate	$ 238	$ (2,482)
State tax, net of federal benefit	4	133
Share-based compensation expense	1,028	629
Research and development credits	(14)	(209)
Foreign taxes	203	219
Deferred Tax on foreign earnings	558	952
Global intangible low-taxed income	1,471	1,335
Equity in earnings of unconsolidated affiliates	(990)	(386)
Chane in valuation of warrants	105	0
Change in valuation allowance	(113)	3,202
Other non-deductible permanent items	235	332
Total provision for income taxes	$ 2,725	$ 3,725

Retirement Plans - Estimated Contributions and Future Benefit Payments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Future Benefit Payments
2026	$ 1,745
2027	1,530
2028	1,580
2029	1,648
2030	2,564
Thereafter	10,841
Total estimated future benefit payments	$ 19,908

Segment Disclosure - Summary of Countries Represents More Than Ten Percent of Company's Revenue (Details) - Revenue, Segment Benchmark [Member] - Geographic Concentration Risk [Member]	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Revenue, Major Customer [Line Items]
Total net revenues	100.00%	100.00%
United States
Revenue, Major Customer [Line Items]
Total net revenues	16.00%	18.00%
China
Revenue, Major Customer [Line Items]
Total net revenues	27.00%	23.00%
Japan
Revenue, Major Customer [Line Items]
Total net revenues	12.00%	12.00%
Rest of world
Revenue, Major Customer [Line Items]
Total net revenues	45.00%	47.00%

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Loss Contingencies [Line Items]
Royalty costs	$ 1,716	$ 1,913
Royalty amount accrued	3,082	2,939
License agreement \| WARF (Wisconsin Alumni Research Foundation)
Loss Contingencies [Line Items]
Royalty amount accrued	3,100	2,900
Financial Guarantee \| Various Customers
Loss Contingencies [Line Items]
Bank guarantees	$ 1,500	$ 1,100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

The Company and its Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2025

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Basis of Presentation and Principles of Consolidation

Reclassifications

Risks and Uncertainties

Use of Estimates

Foreign Currency

Cash, Cash Equivalents and Restricted Cash

Fair Value Measurements

Concentration of Credit Risk and Other Risks and Uncertainties

Accounts Receivable

Inventories

Revenue Recognition

financing component if the gap between payment and delivery was expected, at the contract inception, to be less than one year.

Deferred Revenue and Customer Advances

month-to-month contracts. Deferred revenue includes deferred warranty expected to be recognized over the remaining warranty period for systems already installed.

Customer advances represent payments made by customers in advance of product shipment per the agreed upon contract terms.

Property and Equipment

Software Capitalization Costs

Impairment of Long-Lived Assets

Impairment of Long‑Lived Assets

Goodwill

Shipping and Handling

Research and Development Costs

Share-Based Compensation

Share‑Based Compensation

Warrants

Loss Contingencies

Earnings Per Common Share

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share attributable to stockholders is as follows (in thousands):


	Years Ended June 30,
	2025			2024
Numerator:
Net loss used to compute basic and diluted loss per share	$	(1,591	)	$	(15,545	)
Denominator:
Weighted average shares used to compute basic and diluted loss per share		102,768			98,272
Basic and dilutive net loss per share	$	(0.02	)	$	(0.16	)
Anti-dilutive share-based awards, excluded		12,236			14,052
Anti-dilutive warrants		17,181			—

Warrants Issued in Connection with the Long-term Debt

Outstanding Convertible Notes—Diluted Share Impact

Leases

present value of future payments. The Company elected a practical expedient to account for lease and non-lease components together as a single lease component.

Equity Method Investment

Income Taxes

Accumulated Other Comprehensive Income (Loss)

Accounting Pronouncement Recently Adopted

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Recent Accounting Pronouncements

Accounting Pronouncements - Adopted

Accounting Pronouncements Not Yet Effective

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Recent Accounting Pronouncements

Accounting Pronouncements - Not Yet Effective

Debt - Summary of Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Debt Disclosure [Abstract]
Contractual interest coupon	$ 10,221	$ 10,552
Accrued paid-in-kind interest	(616)	0
Amortization of debt financing costs and discount for warrants issued to lenders	1,439	956
Total interest expense on debt	$ 12,276	$ 11,508

The Company and its Significant Accounting Policies - Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per common share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Numerator:
Net loss used to compute basic and diluted loss per share	$ (1,591)	$ (15,545)
Denominator:
Weighted average shares used to compute basic loss per share	102,768	98,272
Weighted average shares used to compute diluted loss per share	102,768	98,272
Basic net loss per share	$ (0.02)	$ (0.16)
Diluted net loss per share	$ (0.02)	$ (0.16)
Anti-dilutive share-based awards, excluded	12,236	14,052
Warrant
Denominator:
Anti-dilutive share-based awards, excluded	17,181	0

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Joint Venture - Summary of Financial Information of Joint Ventures (Balance Sheet Data) (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023
Schedule Of Equity Method Investments [Line Items]
Current assets	$ 317,465		$ 323,236
Total assets	470,239		468,627
Liabilities and Stockholders' Equity
Current liabilities	192,579		195,267
Stockholder's equity	81,169		45,084		$ 53,659
Total liabilities and stockholders’ equity	$ 470,239		$ 468,627
Joint venture
Schedule Of Equity Method Investments [Line Items]
Current assets		$ 172,109		$ 102,500
Non current assets		16,426		12,425
Total assets		188,535		114,925
Liabilities and Stockholders' Equity
Current liabilities		146,587		79,300
Non current liabilities		1,334		113
Stockholder's equity		40,614		35,512
Total liabilities and stockholders’ equity		$ 188,535		$ 114,925

Revenue

12 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue

Note 2. Revenue

Contract Balances

The timing of revenue recognition, billings, and cash collections results in trade receivables, unbilled receivables, and deferred revenues on the consolidated balance sheets. The Company may offer longer or extended payment terms of more than one year for qualified customers in some circumstances. At times, revenue recognition occurs before the billing, resulting in an unbilled receivable, which represents a contract asset. The contract asset is a component of accounts receivable and other assets for the current and non-current portions, respectively.

When the Company receives advances or deposits from customers before revenue is recognized, this results in a contract liability. It can take two or more years from the time of order to revenue recognition due to the Company’s long sales cycle.

Changes in the contract assets and contract liabilities are as follows (dollars in thousands):


					Change
	June 30, 2025		June 30, 2024		$			%
Contract assets:
Unbilled accounts receivable – current (1)	$	11,823	$	19,131		(7,308	)		(38	)
Interest receivable – current (2)		284		305		(21	)		(7	)
Long-term accounts receivable (3)		3,777		2,859		918			32
Interest receivable – non-current (3)		172		432		(260	)		(60	)
Contract liabilities:
Customer advances		12,197		13,988		(1,791	)		(13	)
Deferred revenue – current		82,306		71,649		10,657			15
Deferred revenue – non-current		26,566		24,114		2,452			10

(1)

Included in accounts receivable on the consolidated balance sheets

(2)

Included in prepaid expenses and other current assets on the consolidated balance sheets

(3)

Included in other assets on the consolidated balance sheets

During the year ended June 30, 2025, contract assets changed primarily due to changes in the timing of billings that occurred after revenues were recognized, and changes in transactions with payment terms exceeding 12 months. During the year ended June 30, 2025, contract liabilities changed due to changes in the timing of revenue recognition as a result of changes in shipping timing, modifications to the transaction price, reduced customer deposits for system sales, and for which the warranty was deferred.

During the years ended June 30, 2025 and June 30, 2024, the Company recognized revenues of $62.4 million and $75.3 million, respectively, which were included in the deferred revenue balances at June 30, 2024, and June 30, 2023, respectively.

Remaining Performance Obligations

Remaining performance obligations represent deferred revenue from open contracts, for which performance has already started and the transaction price from executed contracts, for which performance has not yet started. Service contracts in general are considered month-to-month contracts.

As of June 30, 2025, total remaining performance obligations amounted to $818.2 million. Of this total amount, $64.1 million related to long-term warranty and non-cancellable post-warranty services, which is the estimated revenue expected to be recognized over the remaining service period and warranty period for systems that have been delivered (the time bands reflect management’s best estimate of when the Company will transfer control to the customer and may change based on timing of shipment, readiness of customers’ facilities for installation, installation requirements, and availability of products). The Company has elected the practical expedient to not disclose the unsatisfied performance obligations of contracts with an original expected duration of one year or less.

The following table represents the Company's expected revenue recognition based on the remaining performance obligations related to long-term warranty and non-cancellable post-warranty services as of June 30, 2025 (in thousands):


	Fiscal years
	2026		2027		2028		Thereafter
Long-term warranty and service	$	28,029	$	22,559	$	10,369	$	3,160

For the remaining $64.1 million of performance obligations (open systems sales, upgrades, training and other miscellaneous items), the Company estimates 32% to 38% will be recognized in the next 12 months, and the remaining portion will be recognized thereafter. The Company’s historical experience indicates that some of its customers will cancel or renegotiate contracts as economic conditions change or when product offerings change during the long sales cycle. The Company anticipates a portion of its open contracts may never result in revenue recognition, primarily due to the long sales cycle and factors outside of its control, including changes in customers' needs or financial condition, changes in government or health insurance reimbursement policies, or changes to regulatory requirements. Based on historical experience and management's best estimate, approximately 26% of the Company’s $776.9 million open system sales contracts may never result in revenue.

Capitalized Contract Costs

As of June 30, 2025, and 2024, the balance of capitalized costs to obtain a contract was $7.3 million and $9.6 million, respectively. The Company has classified the capitalized costs to obtain a contract as a component of prepaid expenses and other current assets and other assets with respect to the current and non-current portions of capitalized costs, respectively, on the consolidated balance sheets.


	Years Ended June 30,
	2025		2024
Capitalized contract costs	$	852	$	2,958
Amortization of capitalized contract costs		2,726		4,068
Impairment loss on capitalized contracts		421		128

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Derivative Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Outstanding Forward Currency Exchange Contracts

The notional amount of the Company's outstanding forward currency exchange contracts consisted of the following (in thousands):


	As of June 30,
	2025		2024
Swiss Franc	$	7,438	$	59,392
Japanese Yen		8,700		7,762
Euro		11,431		2,755
Indian Rupee		7,485		8,916
Chinese Yuan		5,491		5,156
Korean Won		1,306		1,735
Canadian Dollar		—		1,510
British Pound		1,617		730
Total outstanding forward currency exchange contracts	$	43,468	$	87,956

The Company entered into the foreign currency forward contracts on

Schedule of Gain (loss) Associated With the Company's Derivative Financial Instruments

The following table provides information about the gain or loss associated with the Company’s derivative financial instruments not designated as hedging instruments (in thousands):


	Years ended June 30,
	2025		2024
Foreign currency exchange gain (loss) on forward contracts	$	655	$	(613	)

Stock Incentive Plan and Employee Stock Purchase Plan - Summary of Information about Outstanding and Exercisable Options (Details) - Employee Stock Option shares in Thousands	12 Months Ended
	Jun. 30, 2025 $ / shares shares
Options Outstanding
Number Outstanding \| shares	1,839
Weighted-Average Remaining Contractual Life (Years)	5 years 7 months 13 days
Weighted-Average Exercise Price (in dollars per share)	$ 3.03
Options Exercisable
Number Outstanding \| shares	1,662
Weighted-Average Exercise Price (in dollars per share)	$ 3.13
$1.96 - $1.96
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, low end of range (in dollars per share)	1.96
Exercise price, high end of range (in dollars per share)	$ 1.96
Options Outstanding
Number Outstanding \| shares	200
Weighted-Average Remaining Contractual Life (Years)	7 years
Weighted-Average Exercise Price (in dollars per share)	$ 1.96
Options Exercisable
Number Outstanding \| shares	150
Weighted-Average Exercise Price (in dollars per share)	$ 1.96
$2.08 - $2.08
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, low end of range (in dollars per share)	2.08
Exercise price, high end of range (in dollars per share)	$ 2.08
Options Outstanding
Number Outstanding \| shares	556
Weighted-Average Remaining Contractual Life (Years)	6 years 11 months 1 day
Weighted-Average Exercise Price (in dollars per share)	$ 2.08
Options Exercisable
Number Outstanding \| shares	429
Weighted-Average Exercise Price (in dollars per share)	$ 2.08
$2.60 - $2.60
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, low end of range (in dollars per share)	2.6
Exercise price, high end of range (in dollars per share)	$ 2.6
Options Outstanding
Number Outstanding \| shares	397
Weighted-Average Remaining Contractual Life (Years)	4 years 4 months 2 days
Weighted-Average Exercise Price (in dollars per share)	$ 2.6
Options Exercisable
Number Outstanding \| shares	397
Weighted-Average Exercise Price (in dollars per share)	$ 2.6
$4.10 - $4.46
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, low end of range (in dollars per share)	4.1
Exercise price, high end of range (in dollars per share)	$ 4.46
Options Outstanding
Number Outstanding \| shares	553
Weighted-Average Remaining Contractual Life (Years)	4 years 7 months 20 days
Weighted-Average Exercise Price (in dollars per share)	$ 4.32
Options Exercisable
Number Outstanding \| shares	553
Weighted-Average Exercise Price (in dollars per share)	$ 4.32
$4.52 - $4.52
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, low end of range (in dollars per share)	4.52
Exercise price, high end of range (in dollars per share)	$ 4.52
Options Outstanding
Number Outstanding \| shares	133
Weighted-Average Remaining Contractual Life (Years)	6 years
Weighted-Average Exercise Price (in dollars per share)	$ 4.52
Options Exercisable
Number Outstanding \| shares	133
Weighted-Average Exercise Price (in dollars per share)	$ 4.52

Retirement Plans - Amounts Recognized (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Amounts recognized in accumulated other comprehensive loss (before tax)
Net actuarial gain	$ 1,128	$ 428
Prior service credit	254	127
Total gain recognized in accumulated other comprehensive loss	1,382	555
Accumulated benefit obligations in excess of fair value of plan assets:
Projected benefit obligation	30,941	24,059
Accumulated benefit obligation	22,747	20,946
Fair value of plan assets	$ 28,549	$ 21,329

Segment Disclosure - Additional Information (Details)	12 Months Ended
Segment Disclosure - Additional Information (Details)	Jun. 30, 2025 Segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	srt:ChiefExecutiveOfficerMember
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description	The CODM evaluates performance based on net revenues, gross profit, and operating income which are consistent with what is reported on the consolidated statements of comprehensive income (loss). Significant segment expenses regularly provided to the CODM are consolidated research and development expenses, sales and marketing, and general and administrative expenses as reported on the consolidated financial statements.

Supplemental Financial Information - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Balance at the beginning of the period	$ 57,672	$ 57,681
Currency translation adjustment	130	(9)
Balance at the end of the period	$ 57,802	$ 57,672

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Revenue - Additional Information (Details1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-07-01	Jun. 30, 2025
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations recognized period	12 months
Minimum
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations percentage	32.00%
Maximum
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations percentage	38.00%

Revenue - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Recognition of deferred revenue	$ 62.4	$ 75.3
Remaining performance obligations amount	$ 818.2
Percentage of changes in operating results on entity's revenue	26.00%
Capitalized costs to obtain a contract	$ 7.3	$ 9.6
Long-term Warranty and Service
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations amount	64.1
Performance Obligations Other Than Warrant
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations amount	64.1
Performance Obligations Service Contracts
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations amount	$ 776.9

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands				12 Months Ended
	Jun. 11, 2025	Jun. 06, 2025	Jun. 05, 2025	Jun. 30, 2025	Jun. 30, 2024
Class of Stock [Line Items]
Common stock, authorized shares				200,000,000	200,000,000
Common stock, issued shares				112,643,852	100,194,932
Common stock, outstanding shares				112,643,852	100,194,932
Treasury stock, shares				3,100,000	3,100,000
Treasury stock, Value				$ 14,100	$ 14,100
Value of premium warrants				8,497	0
Aggregate cash payment				68,500	0
Gain on extinguishment of debt				$ 1,475	$ 0
Convertible Note Holders
Class of Stock [Line Items]
Convertible notes, aggregate principal amount			$ 82,000
Number of shares issued			8,881,579
Conversion price	$ 1.25		$ 1.52
Debt conversion, shares amount	$ 11,100		$ 13,500
Payment of stock issuance fees	400
Aggregate cash payment			$ 68,500
Gain on extinguishment of debt	$ 2,400
Premium Warrants
Class of Stock [Line Items]
Number of warrants		17,180,710
Warrants, exercise price		$ 1.68
Warrants, exercisable date		Dec. 07, 2025
Warrants, expiration date		Jun. 06, 2032
Value of premium warrants		$ 13,100
Financing fees		$ 300
Penny Warrants
Class of Stock [Line Items]
Number of warrants		6,247,531		0
Warrants, exercise price		$ 0.01
Warrants, expiration date		Jun. 06, 2032
Minimum \| Premium Warrants \| Warrant
Class of Stock [Line Items]
Warrants, exercise price				$ 1.25
Minimum \| Penny Warrants \| Warrant
Class of Stock [Line Items]
Warrants, exercise price				$ 1

Revenue - Schedule of Remaining Performance Obligations related to Warranty (Details) - Long-term Warranty and Service $ in Thousands	Jun. 30, 2025 USD ($)
2026	$ 28,029
2027	22,559
2028	10,369
Thereafter	$ 3,160

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at Jun. 30, 2023	$ 53,659	$ 97	$ 555,276	$ 422	$ (502,136)
Balance (in shares) at Jun. 30, 2023		96,535,000
Issuance of common stock to employees	2,247	$ 3	2,244
Issuance of common stock to employees, (In shares)		3,707,000
Tax withholding upon vesting of restricted stock units	(117)		(117)
Tax withholding upon vesting of restricted stock units (in shares)		(47,000)
Share-based compensation	9,484		9,484
Net Income (Loss)	(15,545)				(15,545)
Cumulative translation adjustment	(2,445)			(2,445)
Change in defined benefit pension obligation	(2,199)			(2,199)
Balance at Jun. 30, 2024	$ 45,084	$ 100	566,887	(4,222)	(517,681)
Balance (in shares) at Jun. 30, 2024	100,194,932	100,195,000
Issuance of common stock to employees	$ 1,627	$ 4	1,623
Issuance of common stock to employees, (In shares)		3,612,000
Tax withholding upon vesting of restricted stock units	(90)		(90)
Tax withholding upon vesting of restricted stock units (in shares)		(45,000)
Fair value of warrants issued with debt	12,822		12,822
Stock issued to settle Convertible Notes, Shares		8,882,000
Stock issued to settle Convertible Notes	10,731	$ 9	10,722
Share-based compensation	10,201		10,201
Net Income (Loss)	(1,591)				(1,591)
Cumulative translation adjustment	1,557			1,557
Change in defined benefit pension obligation	828			828
Balance at Jun. 30, 2025	$ 81,169	$ 113	$ 602,165	$ (1,837)	$ (519,272)
Balance (in shares) at Jun. 30, 2025	112,643,852	112,644,000

Debt (Tables)

12 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Schedule of carrying values of all Debt

The Company's outstanding debt as of June 30, 2025 and June 30, 2024 is as follows (in thousands):


	As of June 30,
	2025			2024
Term Loan Facilities due 2030	$	150,000		$	—
Convertible Senior Notes due June 1, 2026		18,000			100,000
Prior Term Loan Facility		-			64,000
Prior Revolving Credit Facility		-			10,000
Total debt		168,000			174,000
Paid-in-kind interest		616			-
Unamortized debt financing costs		(11,101	)		(1,844	)
Unamortized discount for warrants issued to lenders		(20,995	)		-
Total debt, net		136,520			172,156
Reported as:
Short-term debt, net	$	12,734		$	7,756
Long-term debt, net		123,786			164,400
Total debt, net	$	136,520		$	172,156

Summary of Interest Expense

A summary of interest expense on the Company’s outstanding debt is as follows (in thousands):


	Year ended June 30,
	2025		2024
Contractual interest coupon	$	10,221	$	10,552
Accrued paid-in-kind interest		616		-
Amortization of debt financing costs and discount for warrants issued to lenders		1,439		956
Total interest expense on debt	$	12,276	$	11,508

Summary of Weighted Average Effective Interest Rate

A summary of weighted average effective interest rate on the Company’s debt is as follows:


	Year ended June 30,
	2025			2024
Term Loan Facility due 2030		22.0	%		—
Convertible Senior Notes due June 1, 2026		4.3	%		4.3	%
Prior Term Loan Facility		8.6	%		8.6	%
Prior Revolving Credit Facility		9.1	%		9.5	%

Income Taxes

12 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Note 12. Income Taxes

Income (loss) before provision for income taxes on the accompanying statements of operations and comprehensive loss included the following components (in thousands):


	Years Ended June 30,
	2025			2024
Domestic	$	(12,908	)	$	(25,184	)
Foreign		14,042			13,364
Total income (loss) before provision for income taxes	$	1,134		$	(11,820	)

The provision for income taxes consisted of the following (in thousands):


	Years Ended June 30,
	2025		2024
Current:
Federal	$	—	$	—
State		4		133
Foreign		2,565		2,190
Total current	$	2,569	$	2,323
Deferred:
Federal		—		—
State		—		—
Foreign		156		1,402
Total deferred		156		1,402
Total provision for income taxes	$	2,725	$	3,725


	Years Ended June 30,
	2025			2024
U.S. federal taxes (benefit):
At federal statutory rate	$	238		$	(2,482	)
State tax, net of federal benefit		4			133
Share-based compensation expense		1,028			629
Research and development credits		(14	)		(209	)
Foreign taxes		203			219
Deferred tax on foreign earnings		558			952
Global intangible low-taxed income		1,471			1,335
Equity in earnings of unconsolidated affiliates		(990	)		(386	)
Chane in valuation of warrants		105			—
Change in valuation allowance		(113	)		3,202
Other non-deductible permanent items		235			332
Total provision for income taxes	$	2,725		$	3,725


	June 30,
	2025			2024
Deferred tax assets:
Federal and state net operating losses	$	61,745		$	66,463
Accrued expenses and reserves		3,128			4,523
Lease liability		6,475			6,332
Deferred revenue		3,681			3,269
Research and development credits		26,678			26,669
Share-based compensation expense		1,416			1,405
Capitalized research and development		23,795			19,464
Unicap		527			541
Fixed assets and intangibles		250			644
Section 163(j) interest		3,244			2,776
Other		374			6
Total deferred tax assets		131,313			132,092
Deferred tax liabilities:
Contract acquisition costs		(857	)		(1,228	)
Right of use assets		(5,124	)		(5,288	)
Deferred tax on foreign earnings		(2,120	)		(2,499	)
Total deferred tax liabilities		(8,101	)		(9,015	)
Valuation allowance		(125,287	)		(125,944	)
Net deferred tax liabilities	$	(2,075	)	$	(2,867	)

As of June 30, 2025, the Company had $260.9 million and $119.9 million in federal and state net operating loss carryforwards, respectively. The federal and state carryforwards expire in varying amounts beginning in 2029 for federal and 2026 for state purposes.

In addition, as of June 30, 2025, the Company had federal and state research and development tax credits of $28.5 million and $22.8 million, respectively. If not utilized, the federal research credits will begin to expire in 2026, the California research credits have no expiration date and the other state research credits will begin to expire in 2026.

Under the Internal Revenue Code (“IRC”) Sections 382 and 383, annual use of our net operating loss and research tax credit carryforwards to offset taxable income may be limited based on cumulative changes in ownership. Although ownership changes have occurred in the prior years, the carryovers should be available for utilization by the Company before they expire, provided the Company generates sufficient future taxable income. An analysis of the impact of this provision through March 31, 2022 has been performed and it was determined that no ownership change has occurred after December 2009.

Based on the available objective evidence and history of losses, the Company has established a 100% valuation allowance against its combined domestic net deferred tax assets because of uncertainty surrounding the realization of such deferred tax assets.

Certain income earned by controlled foreign corporations (“CFCs”) must be included currently in the gross income of the CFCs United States shareholder. The income required to be included in gross income is referred to as global intangible low tax income (“GILTI”) and is defined under IRC Section 951A as the excess of the shareholder’s net CFC tested income over the net deemed tangible income return. The GILTI inclusion amount has been absorbed by net operating loss carryforwards. The Company has made a policy decision to record GILTI tax as a current-period expense when incurred.

One of the provisions under the Tax Cuts and Jobs Act that became effective in tax years beginning after December 31, 2021 required the capitalization and amortization of research and experimental expenditures. The change in this United States tax law did not have an impact on the Company's consolidated financial statements. The Company will continue to evaluate the impact of this tax law change on future periods.

At June 30, 2025, the Company has $2.1 million of deferred tax liability related to withholding tax expected to be paid on the remittance of unrepatriated distributable reserves in France, Japan and Switzerland. At June 30, 2025, the Company has undistributed earnings of certain foreign subsidiaries of $11.8 million that it has indefinitely invested, and on which it has not recognized deferred taxes.

The aggregate changes in the balance of gross unrecognized tax benefits were as follows (in thousands):


	Years Ended June 30,
	2025			2024
Balance at beginning of year	$	22,044		$	21,565
Tax positions related to current year:
Additions		1,165			1,064
Tax positions related to prior years:
Additions		—			—
Reductions		(560	)		(585	)
Balance at end of year	$	22,649		$	22,044

The calculation of unrecognized tax benefits involves dealing with uncertainties in the application of complex global tax regulations. Management regularly assesses the Company’s tax positions with respect to legislative, bilateral tax treaty, regulatory and judicial developments in the countries in which the Company does business. The reduction in prior year's tax positions primarily relates to lapses of applicable statutes of limitations. The Company anticipates there will be no material changes in uncertain tax positions in the next 12 months. As of June 30, 2025, the amount of gross unrecognized tax benefits was $22.6 million, of which $21.8 million would not affect income tax expense before consideration of any valuation allowance.

The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. As of June 30, 2025 and 2024, the Company’s cumulative accrued interest and penalties related to uncertain tax positions, was not material.

The Company files income tax returns in the United States federal, various states, and foreign jurisdictions. Due to tax attributes being carried forward and utilized during open years, the statute of limitations remains open for the U.S. federal jurisdiction and domestic states for tax years from 2006 and forward. The statutes of limitation with respect to the foreign jurisdictions where the Company files income tax returns vary from jurisdiction to jurisdiction and range from 3 to 10 years and the material foreign jurisdictions are France, Switzerland and Japan.

The Company is also subject to examination of its income tax returns by the Internal Revenue Service (“IRS”) and other foreign tax authorities, and in some cases the Company has received additional tax assessments which have not been significant. The Company is under audit by the Indian tax authorities for the fiscal year 2021 and we do not expect a material impact on the consolidated financial statements.

On July 4, 2025, new federal tax legislation was enacted, introducing significant changes to U.S. corporate income tax law. Key provisions include the optional expensing of domestic research and development costs under Section 174, modifications to business interest deductions under Section 163(j), and changes to international tax rules such as GILTI. Some provisions are effective retroactively to January 1, 2025, while others phase in through 2027. As the legislation was

enacted after the balance sheet date, its effects are not reflected in the financial statements for the fiscal period ended June 30, 2025. The Company is currently evaluating the potential impact, including implications for deferred tax assets and related disclosures in the subsequent period.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Income Taxes - Schedule of Components of Loss Before Provision for Income Taxes on the Accompanying Statements of Operations and Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Components of income (loss) before provision for income taxes
Domestic	$ (12,908)	$ (25,184)
Foreign	14,042	13,364
Income (loss) before provision for income taxes	$ 1,134	$ (11,820)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

+ Details

Revenue - Summary of Contract with Customer, Asset and Liability (Details) - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2025

Jun. 30, 2024

Contract assets:

Unbilled accounts receivable – current

^[1]

$ 11,823

$ 19,131

Interest receivable – current

^[2]

284

305

Long-term accounts receivable

^[3]

3,777

2,859

Interest receivable – non-current

^[3]

172

432

Contract liabilities:

Customer advances

12,197

13,988

Deferred revenue – current

82,306

71,649

Deferred revenue – non-current

26,566

$ 24,114

Change in assets, value:

Change in unbilled accounts receivable – current, value

^[1]

(7,308)

Change in interest receivable – current, value

^[2]

(21)

Change in long-term accounts receivable, value

^[3]

918

Change in Interest receivable – non-current, value

^[3]

(260)

Change in liabilities, value:

Change in customer advances, value

(1,791)

Change in deferred revenue – current, value

10,657

Change in deferred revenue – non-current, value

$ 2,452

Change in assets, percentage:

Change in unbilled accounts receivable – current, percentage

^[1]

(38.00%)

Change in interest receivable – current, percentage

^[2]

(7.00%)

Change in long-term accounts receivable, percentage

^[3]

32.00%

Change in Interest receivable – non-current, percentage

^[3]

(60.00%)

Change in liabilities, percentage:

Change in customer advances, percentage

(13.00%)

Change in deferred revenue – current, percentage

15.00%

Change in deferred revenue – non-current, percentage

10.00%

[1]	Included in accounts receivable on the consolidated balance sheets
[2]	Included in prepaid expenses and other current assets on the consolidated balance sheets
[3]	Included in other assets on the consolidated balance sheets

Derivative Financial Instruments - Summary of Outstanding Forward Currency Exchange Contracts (Details) - Forward Currency Exchange Contracts - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Outstanding forward currency exchange contracts	$ 43,468,000	$ 87,956,000
Swiss Franc
Outstanding forward currency exchange contracts	7,438,000	59,392,000
Japanese Yen
Outstanding forward currency exchange contracts	8,700,000	7,762,000
Euro
Outstanding forward currency exchange contracts	11,431,000	2,755,000
Indian Rupee
Outstanding forward currency exchange contracts	7,485,000	8,916,000
Chinese Yuan
Outstanding forward currency exchange contracts	5,491,000	5,156,000
Korean Won
Outstanding forward currency exchange contracts	1,306,000	1,735,000
Canadian Dollar
Outstanding forward currency exchange contracts	0	1,510,000
British Pound
Outstanding forward currency exchange contracts	$ 1,617,000	$ 730,000

Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Current:
Federal	$ 0	$ 0
State	4	133
Foreign	2,565	2,190
Total current	2,569	2,323
Deferred:
Federal	0	0
State	0	0
Foreign	156	1,402
Total deferred	156	1,402
Total provision for income taxes	$ 2,725	$ 3,725

Income Taxes - Schedule of Aggregate Changes in the Balance of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Aggregate changes in the balance of gross unrecognized tax benefits
Balance at beginning of year	$ 22,044	$ 21,565
Tax positions related to current year: Additions	1,165	1,064
Tax positions related to prior years: Additions	0	0
Tax positions related to prior years: Reductions	(560)	(585)
Balance at end of year	$ 22,649	$ 22,044

Derivative Financial Instruments - Additional Information (Details)	12 Months Ended
	Jun. 30, 2025
Maximum
Length of forward contracts	three months

Stock Incentive Plan and Employee Stock Purchase Plan - Summary of Share-based Compensation Charges Included in the Company's Equity Awards (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Payment Arrangement, Expense	$ 10,201	$ 9,484
Employee stock purchase plan \| Market Stock Units
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Payment Arrangement, Expense	743	1,050
Stock options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Payment Arrangement, Expense	344	741
Restricted Stock Units
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Payment Arrangement, Expense	7,948	7,307
Performance Stock Units
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-Based Payment Arrangement, Expense	$ 1,166	$ 386

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Goodwill and Purchased Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill

Activity related to goodwill consisted of the following (in thousands):


	As of June 30,
	2025		2024
Balance at the beginning of the period	$	57,672	$	57,681
Currency translation adjustment		130		(9	)
Balance at the end of the period	$	57,802	$	57,672

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Accounts receivable, allowance for credit losses (in dollars)	$ 369	$ 2,251
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized shares	200,000,000	200,000,000
Common stock, issued shares	112,643,852	100,194,932
Common stock, outstanding shares	112,643,852	100,194,932
Accounts Receivable \| Corporate Joint Venture [Member]
Accounts receivable from joint venture	$ 28,452	$ 25,339
Prepaid Expenses and Other Current Assets \| Corporate Joint Venture [Member]
Accounts receivable from joint venture	$ 377	$ 743

Cybersecurity Risk Management, Strategy and Governance	12 Months Ended
Cybersecurity Risk Management, Strategy and Governance	Jun. 30, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Item 1C. CYBERSECURITY Risk Management and Strategy We recognize the importance of cybersecurity in safeguarding sensitive information, maintaining operational integrity, and working to ensure the safety and efficacy of our products. We evaluate and monitor cybersecurity risk as part of our overall enterprise risk management program, which considers cybersecurity risks alongside other company risks as part of our overall risk assessment process. In addition, the risk oversight responsibility of our Board of Directors and its committees is supported by our cybersecurity risk assessment program, which includes policies and processes that are designed to provide visibility and information about the identification, assessment, and management of critical risks and management’s risk mitigation strategies to our Board of Directors and personnel that are responsible for risk assessment. These policies also govern the security of our products and the protection of customer and patient data and provide for vulnerability remediation, regular system updates and patches, employee training on cybersecurity and HIPAA best practices, incident reporting, and the use of encryption to secure sensitive information. To identify, assess, and manage material cybersecurity risks, our team uses a cybersecurity risk assessment process aligned with leading frameworks such as the National Institute of Standards and Technology’s Cyber Security Framework and HIPAA. Our cybersecurity risk assessment program provides the underlying basis for the activities of our team to identify and mitigate risks from, as well as develop risk management and response strategies for, evolving and emerging cybersecurity threats. Our cybersecurity program includes a variety of processes to assess, identify and manage risks from cybersecurity threats arising from our own and third-party provided systems, including annual training requirements, simulation exercises, threat monitoring and detection tools (including those using artificial intelligence and machine learning), threat containment methods, risk assessments, third-party penetration testing and security requirements for our suppliers and other third parties. We have established processes providing for review of identified cybersecurity incidents by a cross-functional cybersecurity incident response team who monitors and manages the detection, assessment, mitigation and remediation of cybersecurity incidents and escalates incidents to the Chief Information and Security Officer and to our disclosure review board, which evaluates such incidents for materiality and potential disclosure, and works to ensure that members of management responsible for overseeing the operation of our disclosure controls and procedures are informed of such cybersecurity risks and incidents. Our cybersecurity incident response team and disclosure review board are comprised of subject matter experts, including employees in cybersecurity, information technology and other areas, to evaluate potential security, financial, operational, reputational and other risks, and to address our process. We also engage third parties to enhance and strengthen our cybersecurity program, to provide additional capabilities and support and to provide periodic independent assessments and evaluations of our cybersecurity program. Third parties also provide managed services for security operations, incident response, and security remediation services. We monitor and periodically enhance our cybersecurity program, processes, techniques and procedures to combat evolving and adaptive cybersecurity threats. To this end, we engage in the periodic assessment of our policies, standards, processes, and practices that are designed to address cybersecurity threats and incidents, internally and through assessments by external providers. The results of such assessments, audits, and reviews are reported to the Audit Committee and the Board of Directors, and we adjust our cybersecurity policies, standards, processes, and practices as necessary based on the information provided by these assessments, audits, and reviews. We also monitor and test our safeguards and train all our employees on cybersecurity safeguards related to our information technology systems. Personnel at all levels and departments are made aware of our cybersecurity policies through periodic cybersecurity trainings and tests. Further, we are focused on building and maintaining a positive cybersecurity culture through a combination of trainings, educational tools, videos, and other cybersecurity awareness initiatives. Our security training incorporates awareness of cyber threats (including malware, ransomware, and social engineering attacks), password hygiene, the importance of multifactor authentication and our incident reporting process. In addition to the assessment of internal cybersecurity risks, we have implemented processes to oversee, identify and monitor material risks from cybersecurity threats relating to potential compromises of sensitive information at our third-party business partners where relevant and we reevaluate these risks periodically. These processes include vetting of certain service providers for security, reliability, and availability; execution of a Business Associate Agreement with relevant providers for compliant management, storage, or processing of PHI if necessary; and confirmation by each service provider that its SOC-2 reports, or equivalent reports, are current and available, where applicable. In the event a service provider does not have a current and available SOC-2 or equivalent report, we review the service provider’s cybersecurity risk management and advise relevant business stakeholders of any significant identified risks. While we regularly experience cybersecurity incidents, and we expect to continue to be subject to such incidents, as of the date of this report, we are not aware of any cybersecurity incidents that have had or are reasonably likely to have a material impact on our business or operations. However, we are subject to ongoing risks from cybersecurity threats that could materially affect us, including our business strategy, results of operations, or financial condition, as further described in Item 1A. Risk Factors in the risk factor entitled “Disruption of critical information technology systems, infrastructure and data or cyberattacks or other security breaches or incidents could harm our business and financial condition.” Governance Our Board of Directors, both directly and through the delegation of responsibilities to the Audit Committee, oversees the functioning of our cybersecurity risk management program and ensures strategic alignment and governance of our cybersecurity efforts at the highest level. Our Board of Directors receives periodic briefings on the outcome of our cybersecurity risk management program, including steps that we are taking to mitigate risks that the program identifies, and each quarter, the Audit Committee reviews cybersecurity incidents, metrics, and the state of the program. Our cybersecurity risk management program is principally managed by our Global Information Systems team, which is led by our Chief Information and Security Officer, who reports directly to our Chief Executive Officer, as well as our Deputy Chief Information Security Officer (Deputy CISO). Our Chief Information and Security Officer and Deputy CISO combined have more than 40 years of experience in cybersecurity and/or information technology risk management, have relevant certification, and are active in a variety of cybersecurity related boards and organizations. Our Chief Information and Security Officer also serves as the officer who reports directly to senior management and makes regular reports to the Audit Committee and Board of Directors as described in this Item 1C. Under the direction of our Chief Information and Security Officer and Deputy CISO, we monitor developments that could affect our long-term organizational cybersecurity strategy based on threats globally and work to enhance our cybersecurity program as needed in response to such developments.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	We recognize the importance of cybersecurity in safeguarding sensitive information, maintaining operational integrity, and working to ensure the safety and efficacy of our products. We evaluate and monitor cybersecurity risk as part of our overall enterprise risk management program, which considers cybersecurity risks alongside other company risks as part of our overall risk assessment process. In addition, the risk oversight responsibility of our Board of Directors and its committees is supported by our cybersecurity risk assessment program, which includes policies and processes that are designed to provide visibility and information about the identification, assessment, and management of critical risks and management’s risk mitigation strategies to our Board of Directors and personnel that are responsible for risk assessment. These policies also govern the security of our products and the protection of customer and patient data and provide for vulnerability remediation, regular system updates and patches, employee training on cybersecurity and HIPAA best practices, incident reporting, and the use of encryption to secure sensitive information. To identify, assess, and manage material cybersecurity risks, our team uses a cybersecurity risk assessment process aligned with leading frameworks such as the National Institute of Standards and Technology’s Cyber Security Framework and HIPAA. Our cybersecurity risk assessment program provides the underlying basis for the activities of our team to identify and mitigate risks from, as well as develop risk management and response strategies for, evolving and emerging cybersecurity threats.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	In addition, the risk oversight responsibility of our Board of Directors and its committees is supported by our cybersecurity risk assessment program, which includes policies and processes that are designed to provide visibility and information about the identification, assessment, and management of critical risks and management’s risk mitigation strategies to our Board of Directors and personnel that are responsible for risk assessment.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The results of such assessments, audits, and reviews are reported to the Audit Committee and the Board of Directors, and we adjust our cybersecurity policies, standards, processes, and practices as necessary based on the information provided by these assessments, audits, and reviews.
Cybersecurity Risk Role of Management [Text Block]	Our Board of Directors, both directly and through the delegation of responsibilities to the Audit Committee, oversees the functioning of our cybersecurity risk management program and ensures strategic alignment and governance of our cybersecurity efforts at the highest level. Our Board of Directors receives periodic briefings on the outcome of our cybersecurity risk management program, including steps that we are taking to mitigate risks that the program identifies, and each quarter, the Audit Committee reviews cybersecurity incidents, metrics, and the state of the program. Our cybersecurity risk management program is principally managed by our Global Information Systems team, which is led by our Chief Information and Security Officer, who reports directly to our Chief Executive Officer, as well as our Deputy Chief Information Security Officer (Deputy CISO). Our Chief Information and Security Officer and Deputy CISO combined have more than 40 years of experience in cybersecurity and/or information technology risk management, have relevant certification, and are active in a variety of cybersecurity related boards and organizations. Our Chief Information and Security Officer also serves as the officer who reports directly to senior management and makes regular reports to the Audit Committee and Board of Directors as described in this Item 1C. Under the direction of our Chief Information and Security Officer and Deputy CISO, we monitor developments that could affect our long-term organizational cybersecurity strategy based on threats globally and work to enhance our cybersecurity program as needed in response to such developments.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Under the direction of our Chief Information and Security Officer and Deputy CISO, we monitor developments that could affect our long-term organizational cybersecurity strategy based on threats globally and work to enhance our cybersecurity program as needed in response to such developments.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our Chief Information and Security Officer and Deputy CISO combined have more than 40 years of experience in cybersecurity and/or information technology risk management, have relevant certification, and are active in a variety of cybersecurity related boards and organizations.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Chief Information and Security Officer also serves as the officer who reports directly to senior management and makes regular reports to the Audit Committee and Board of Directors as described in this Item 1C
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 30, 2025 USD ($)
Leases [Abstract]
2026	$ 7,201
2027	8,257
2028	7,135
2029	5,515
2030	4,789
Thereafter	24,948
Total operating lease payments	57,845
Less: imputed interest	(17,988)
Present value of operating lease liabilities	$ 39,857

Consolidated Balance Sheets - USD ($)
$ in Thousands

Jun. 30, 2025

Jun. 30, 2024

Current assets:

Cash and cash equivalents

$ 57,416

$ 68,570

Restricted cash

574

485

Accounts receivable, net of allowance for credit losses of $369 and $2.251 as of June 30, 2025 and June 30, 2024, respectively

^[1]

83,192

92,001

Inventories

141,020

138,324

Prepaid expenses and other current assets

^[2]

33,501

23,006

Deferred cost of revenue

1,762

850

Total current assets

317,465

323,236

Noncurrent assets:

Property and equipment, net

28,658

24,774

Investment in joint venture

4,612

9,826

Operating lease right-of-use assets, net

33,115

33,773

Goodwill

57,802

57,672

Restricted cash

4,144

1,337

Other assets

24,443

18,009

Total assets

470,239

468,627

Current liabilities:

Accounts payable

34,033

50,020

Accrued compensation

14,573

17,128

Operating lease liabilities

7,375

6,218

Other accrued liabilities

29,361

28,508

Customer advances

12,197

13,988

Deferred revenue

82,306

71,649

Short-term debt, net

12,734

7,756

Total current liabilities

192,579

195,267

Noncurrent liabilities:

Operating lease liabilities

32,482

32,373

Long-term other liabilities

5,160

7,389

Warrant liability

8,497

Deferred revenue

26,566

24,114

Long-term debt, net

123,786

164,400

Total liabilities

389,070

423,543

Commitments and contingencies (Note 8)

Stockholders’ equity:

Common stock, $0.001 par value; authorized: 200,000,000 shares as of June 30, 2025 and June 30, 2024, respectively; issued and outstanding: 112,643,852 and 100,194,932 shares at June 30, 2025 and June 30, 2024, respectively

113

100

Additional paid-in-capital

602,165

566,887

Accumulated other comprehensive loss

(1,837)

(4,222)

Accumulated deficit

(519,272)

(517,681)

Total stockholders' equity

81,169

45,084

Total liabilities and stockholders’ equity

$ 470,239

$ 468,627

[1]	Included accounts receivable from the joint venture, an equity method investment, of $28,452 and $25,339 at June 30, 2025, and June 30, 2024, respectively. See Note 11.
[2]	Included other receivable from the joint venture, an equity method investment, of $377 and $743 at June 30, 2025, and June 30, 2024, respectively.

Supplemental Financial Information - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Property and equipment, net
Depreciation expense	$ 6,100,000	$ 5,800,000
Prepaid Expense and Other Assets [Abstract]
Impairment of goodwill	0	0
Amortization expense	$ 0	0
Amortization expense related to purchased intangible assets		$ 200,000
Amortized period	2026
Impairment of definite lived intangible assets	$ 0
Delayed Draw Term Loan Facility
Prepaid Expense and Other Assets [Abstract]
Credit facility borrowing capacity	20,000,000
Revolving Credit Facility
Prepaid Expense and Other Assets [Abstract]
Credit facility borrowing capacity	$ 20,000,000

Retirement Plans - Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2026
Net Periodic Benefit Costs:
Service cost	$ 1,553	$ 1,245
Interest cost	$ 322	381
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Expected returns on assets	$ (330)	(284)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Amortization of prior service credit	$ (24)	(24)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Amortization of net gain	$ 0	(92)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Gain on settlement	$ 0	(65)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Net periodic benefit costs	$ 1,521	1,161
Other Amounts Recognized in Other Comprehensive Loss:
Net (gain) loss arising during the year	(715)	2,019
Prior service credit	26	24
Amortization of prior service credit	(139)	0
Amortization of net gain	0	91
Effect of settlement	0	65
Total (gain) loss recognized in other comprehensive loss	(828)	2,199
Total recognized in net periodic benefit costs and other comprehensive loss	$ 693	$ 3,360
Scenario Forecast
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during fiscal year 2025
Net loss			$ 0
Prior service cost			32
Accumulated other comprehensive income			$ 32

Fair Value Measurements

12 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 6. Fair Value Measurements

Fair value is an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy contains three levels of inputs that may be used to measure fair value, as follows:

Level 1— Unadjusted quoted prices that are available in active markets for the identical assets or liabilities at the measurement date.

Level 2— Other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including:

•

Quoted prices for similar assets or liabilities in active markets;

•

Quoted prices for identical or similar assets in non-active markets;

•

Inputs other than quoted prices that are observable for the asset or liability; and

•

Inputs that are derived principally from or corroborated by other observable market data.

Level 3— Unobservable inputs that cannot be corroborated by observable market data and require the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions.

Items Measured at Fair Value on a Recurring Basis

Warrant Liabilities

The Penny Warrants (as defined in Note 7) are accounted for as a liability with the changes in fair value of the warrants are recognized in the statement of operations and comprehensive income (loss). The fair value of the Penny Warrants at issuance date was based on the closing listed stock price on June 6, 2025, and remeasured based on the listed market price of

such warrants at June 30, 2025. The estimated fair value of the Penny Warrants liabilities represent Level 2 measurements because the fair value of the warrant is being implied based on market trades of the stock.

The following table shows the changes in fair value of the Penny Warrants:


	Years Ended
	2025		2024
Balance at the beginning of the period	$	—	$	—
Issuance of Penny warrants on June 6, 2025		7,998		—
Change in fair value		499		—
Balance at the end of the period	$	8,497	$	—

Other Fair Value Disclosures

At June 30, 2025, the Company had open currency forward contracts to purchase or sell foreign currencies with a stated, or notional, value of $43.5 million. The fair value of the forward contract based upon the June 30, 2025 exchange rate was $43.3 million, which it considers to be a Level 2 fair value measurement. At June 30, 2024, the Company had open currency forward contracts to purchase or sell foreign currencies with a stated, or notional, value of $88.0 million. The fair value of the forward contract based upon the June 30, 2024 exchange rate was $87.7 million, which it considers to be a Level 2 fair value measurement.

The Company’s convertible debt is measured on a recurring basis using Level 2 based upon observable inputs. The Company's Term Loan Facilities due 2030 (as defined in Note 7) reflect the bank quoted market rates, which the Company considers to be a Level 2 fair value measurement. The Company believes that the carrying value of the Prior Term Loan Facility and Revolving Credit Facility approximates its estimated fair value based on the effective interest rate, compared to the current market rate available to the Company at quarter-end.

The following table summarizes the carrying value, net of debt financing costs, and the fair value of the 3.75% Convertible Senior Notes due 2026, Term Loan Facilities due 2030, the Prior Term Loan Facility, and the Prior Revolving Credit Facility, (in thousands):


	June 30, 2025				June 30, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value
3.75% Convertible Notes due June 1, 2026	$	17,893	$	17,322	$	98,782	$	85,762
Term Loan Facilities due 2030		118,627		118,627		—		—
Prior Term Loan Facility		—		—		63,374		63,374
Prior Revolving Credit Facility		—		—		10,000		10,000
Total	$	136,520	$	135,949	$	172,156	$	159,136

The carrying value and fair value of the Term Loan Facilities due 2030 excludes $21.0 million for the fair value of the warrants issued to the lenders to purchase the Company’s common stock.

The Premium Warrants (as defined in Note 7) met all of the criteria for equity classification and were recorded at their relative fair value in additional paid-in capital at the time of issuance. The fair value of $12.8 million is not subject to remeasurement and was estimated using a Black-Scholes method, which incorporates significant unobservable inputs, including expected volatility, risk-free interest rate and expected term. As these inputs are not observable in the market, the fair value measurement of the Premium Warrants represent a Level 3 measurement.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Summary of Changes in Fair Value of Penny Warrants

The following table shows the changes in fair value of the Penny Warrants:


	Years Ended
	2025		2024
Balance at the beginning of the period	$	—	$	—
Issuance of Penny warrants on June 6, 2025		7,998		—
Change in fair value		499		—
Balance at the end of the period	$	8,497	$	—

Summary of Carrying Values, Net of Debt Costs and Estimated Fair Values of Short-Term and Long-Term Debt


	June 30, 2025				June 30, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value
3.75% Convertible Notes due June 1, 2026	$	17,893	$	17,322	$	98,782	$	85,762
Term Loan Facilities due 2030		118,627		118,627		—		—
Prior Term Loan Facility		—		—		63,374		63,374
Prior Revolving Credit Facility		—		—		10,000		10,000
Total	$	136,520	$	135,949	$	172,156	$	159,136

Joint Venture - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Schedule Of Equity Method Investments [Line Items]
Currency translation adjustment	$ 130,000	$ (9,000)
Impairment of goodwill	$ 0	0
Joint venture
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest in joint venture	49.00%
Currency translation adjustment	$ 400,000	600,000
Dividend declared	$ 2,500,000	2,500,000
Accuray Asia
Schedule Of Equity Method Investments [Line Items]
Proportion of recognizing joint venture income (loss)	49.00%
Impairment of goodwill	$ 0	$ 0

Supplemental Financial Information - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Property and equipment, net
Property and equipment, gross	$ 106,569	$ 98,457
Less: Accumulated depreciation	(77,911)	(73,683)
Total property and equipment, net	28,658	24,774
Machinery and Equipment
Property and equipment, net
Property and equipment, gross	49,147	45,539
Leasehold Improvements
Property and equipment, net
Property and equipment, gross	32,491	30,994
Software
Property and equipment, net
Property and equipment, gross	11,534	11,308
Computer and Office Equipment
Property and equipment, net
Property and equipment, gross	6,797	6,347
Furniture and Fixtures
Property and equipment, net
Property and equipment, gross	1,959	1,719
Construction in Progress
Property and equipment, net
Property and equipment, gross	$ 4,641	$ 2,550

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,591)	$ (15,545)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Stockholders' Equity (Tables)

12 Months Ended

Jun. 30, 2025

Stockholders' Equity Note [Abstract]

Summary of Changes in Accumulated Other Comprehensive Income (Loss) by Component

The following table summarizes the changes in accumulated other comprehensive income (loss) by component (in thousands):


	Cumulative Translation Adjustment			Defined Pension Benefit Obligation			Total
Balance at June 30, 2023	$	(2,332	)	$	2,754		$	422
Other comprehensive loss		(2,445	)		(2,199	)		(4,644	)
Balance at June 30, 2024	$	(4,777	)	$	555		$	(4,222	)
Other comprehensive loss		1,557			828			2,385
Balance at June 30, 2025	$	(3,220	)	$	1,383		$	(1,837	)

Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Principal Payments and Interest on Notes and Term Loan Facility

Future minimum principal payments and interest on the Convertible Notes and Term Loan Facility (as defined in Note 7. Debt), as of June 30, 2025, are as follows (in thousands):


Year Ending June 30,	Long-Term Debt (1)
2026	$	33,943
2027		21,787
2028		21,650
2029		21,403
2030		172,186
Total	$	270,969

(1)

Schedule of Information about the Company's Royalty Expense and Royalty Payments

The following table provides information about the Company’s royalty expense and royalty payments (in thousands):


	Years Ended June 30,
	2025		2024
Royalty expense	$	1,716	$	1,913
Royalty payments		1,573		1,371

Supplemental Financial Information (Tables)

12 Months Ended

Jun. 30, 2025

Supplemental Financial Information Disclosure [Abstract]

Schedule of Financing Receivables

A summary of the Company’s financing receivables is presented as follows (in thousands):


	June 30, 2025		June 30, 2024
Financing receivable	$	3,842	$	2,871
Allowance for credit losses		—		—
Total, net	$	3,842	$	2,871
Reported as:
Current	$	1,082	$	1,340
Non-current		2,760		1,531
Total, net	$	3,842	$	2,871

Schedule of Inventories

Inventories consisted of the following (in thousands):


	June 30, 2025		June 30, 2024
Raw materials	$	49,001	$	57,699
Work-in-process		14,844		13,629
Finished goods		77,175		66,996
Total inventories	$	141,020	$	138,324

Schedule of Prepaid and Other Current Assets

Prepaid and other current assets consisted of the following (in thousands):


	June 30, 2025		June 30, 2024
Value added tax receivables	$	11,381	$	4,026
Prepaid commissions		4,388		5,288
Capitalized contract costs		1,949		1,876
Income tax receivable		841		368
Debt financing costs		470		—
Dividend receivable from JV		2,453		2,460
Other prepaid assets		5,560		5,018
Other current assets		6,459		3,970
Total prepaid and other current assets	$	33,501	$	23,006

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	June 30, 2025			June 30, 2024
Machinery and equipment	$	49,147		$	45,539
Leasehold improvements		32,491			30,994
Software		11,534			11,308
Computer and office equipment		6,797			6,347
Furniture and fixtures		1,959			1,719
Construction in progress		4,641			2,550
		106,569			98,457
Less: Accumulated depreciation		(77,911	)		(73,683	)
Total property and equipment, net	$	28,658		$	24,774

Schedule of Goodwill

Activity related to goodwill consisted of the following (in thousands):


	As of June 30,
	2025		2024
Balance at the beginning of the period	$	57,672	$	57,681
Currency translation adjustment		130		(9	)
Balance at the end of the period	$	57,802	$	57,672

Schedule of Other Assets

Other assets consisted of the following (in thousands):


	June 30, 2025		June 30, 2024
Capitalized software costs to be sold	$	10,252	$	4,683
Capitalized contract costs		5,359		7,768
Long-term accounts receivable		3,777		2,859
Purchased intangible assets, net		15		59
Deferred tax asset		756		659
Debt financing costs		669		—
Other long-term assets		3,615		1,981
Total other assets	$	24,443	$	18,009

Schedule of Other Accrued Liabilities

Other accrued liabilities consisted of the following (in thousands):


	June 30, 2025		June 30, 2024
Value added tax liabilities	$	12,408	$	5,048
Commissions due to third parties		573		5,202
Refunds due to customers		3,581		6,079
Accrued royalties		3,082		2,939
Accrued consulting		1,648		1,238
Interest payable		967		485
Income tax payable		973		1,206
Other liabilities		6,129		6,311
Total other accrued liabilities	$	29,361	$	28,508

Summary of Changes in Accumulated Other Comprehensive Income (Loss) by Component

The following table summarizes the changes in accumulated other comprehensive income (loss) by component (in thousands):


	Cumulative Translation Adjustment			Defined Pension Benefit Obligation			Total
Balance at June 30, 2023	$	(2,332	)	$	2,754		$	422
Other comprehensive loss		(2,445	)		(2,199	)		(4,644	)
Balance at June 30, 2024	$	(4,777	)	$	555		$	(4,222	)
Other comprehensive loss		1,557			828			2,385
Balance at June 30, 2025	$	(3,220	)	$	1,383		$	(1,837	)

Schedule of Consolidated Statement of Operations

Interest expense consisted of the following (in thousands)


	Years Ended June 30,
	2025			2024
Contractual interest coupon	$	(10,221	)	$	(10,552	)
Accrued paid-in-kind interest		(616	)		-
Amortization for financing costs and discount for warrants issued to lenders		(1,439	)		(956	)
Other		(678	)		(116	)
Total interest expense	$	(12,954	)	$	(11,624	)

Other income (expense), net, consisted of the following (in thousands):


	Years Ended June 30,
	2025			2024
Interest income	$	1,192		$	1,231
Foreign currency exchange gain (loss)		1,573			(2,046	)
Costs for foreign currency forward contracts		(2,376	)		(1,811	)
Other, net		170			88
Total other income (expense), net	$	559		$	(2,538	)

Income Taxes - Schedule of Significant Components of Net Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Deferred tax assets:
Federal and state net operating losses	$ 61,745	$ 66,463
Accrued expenses and reserves	3,128	4,523
Lease liability	6,475	6,332
Deferred revenue	3,681	3,269
Research and development credits	26,678	26,669
Share-based compensation expense	1,416	1,405
Capitalized research and development	23,795	19,464
Unicap	527	541
Fixed assets and intangibles	250	644
Section 163(j) interest	3,244	2,776
Other	374	6
Total deferred tax assets	131,313	132,092
Deferred tax liabilities:
Contract acquisition costs	(857)	(1,228)
Right of use assets	(5,124)	(5,288)
Deferred tax on foreign earnings	(2,120)	(2,499)
Total deferred tax liabilities	(8,101)	(9,015)
Valuation allowance	(125,287)	(125,944)
Net deferred tax liabilities	$ (2,075)	$ (2,867)

Joint Venture - Schedule of Deferred Intra Entity Profit Margin from Sales to the Joint Ventures (Details) - Joint venture - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2025

Jun. 30, 2024

Schedule of Equity Method Investments [Line Items]

Deferred gross profit recognized on sales to the JV

$ (16,738)

$ (9,061)

Deferred gross profit on sales to the JV

24,404

13,159

Net deferred gross profit on sales to the JV

^[1]

$ 7,666

$ 4,098

[1]	Profit earned by the Company from the JV is eliminated through cost of goods sold until it is realized; such profits would generally be considered realized when the inventory has been sold through to third parties.

Leases (Tables)

12 Months Ended

Jun. 30, 2025

Leases [Abstract]

Schedule of Operating Leases

The following table provides information related to the Company’s operating leases (in thousands):


	Years Ended June 30,
	2025		2024
Operating lease costs (1)	$	8,980	$	9,146
Short-term operating lease costs		286		305
Cash paid for amounts included in the measurement of lease liabilities		8,011		9,013

(1)

Excludes expenses related to short-term lease operating costs.

Schedule of Operating Lease Right-of-use Assets and Operating Lease Obligation

Operating lease right-of-use assets and operating lease obligations are represented in the table below (in thousands):


	June 30, 2025			June 30, 2024
Beginning balance operating lease right-of-use assets	$	33,773		$	25,853
Lease assets added		4,624			14,389
Amortization for the year		(5,282	)		(6,469	)
Ending balance operating lease right-of-use assets	$	33,115		$	33,773

Beginning balance operating lease obligations	$	38,591		$	27,753
Lease liabilities added		5,726			16,775
Repayment and interest accretion		(4,460	)		(5,937	)
Ending balance operating lease obligations	$	39,857		$	38,591

Current portion of operating lease obligations	$	7,375		$	6,218
Noncurrent portion of operating lease obligations	$	32,482		$	32,373

Schedule of Maturities of Operating Lease Liabilities

The weighted-average remaining lease term and weighted-average discount rate for operating leases were as follows:


	June 30, 2025			June 30, 2024
Weighted average remaining lease term (in years)		7.8			8.2
Weighted average discount rate		10.4	%		10.4	%

Maturities of operating lease liabilities as of June 30, 2025, are presented in the table below (in thousands):


Year Ending June 30,	Amount
2026	$	7,201
2027		8,257
2028		7,135
2029		5,515
2030		4,789
Thereafter		24,948
Total operating lease payments		57,845
Less: imputed interest		(17,988	)
Present value of operating lease liabilities	$	39,857

Supplemental Financial Information - Consolidated Statements of Operations - Other Income (Expense), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Supplemental Financial Information Disclosure [Abstract]
Interest income	$ 1,192	$ 1,231
Foreign currency exchange gain (loss)	1,573	(2,046)
Costs for foreign currency forward contracts	(2,376)	(1,811)
Other, net	170	88
Total other income (expense), net	$ 559	$ (2,538)

Stock Incentive Plan and Employee Stock Purchase Plan - ESPP (Details) - Employee stock purchase plan	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate, Minimum (as a percent)	4.12%	5.05%
Risk-free interest rate, Maximum (as a percent)	4.43%	5.39%
Dividend yield	0.00%	0.00%
Expected volatility, Minimum (as a percent)	44.02%	37.22%
Expected volatility, Maximum (as a percent)	83.32%	61.48%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 months	6 months
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	1 year	1 year

Stock Incentive Plan and Employee Stock Purchase Plan - Schedule of Option Activity Under the Company's Incentive Plan (Details) - Employee Stock Option - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Jun. 30, 2025

Jun. 30, 2024

Options Outstanding

Balance at the beginning of the year (in shares)

5,270

Options granted (in shares)

Options exercised (in shares)

Options forfeited/expired (in shares)

(3,431)

Balance at the end of the year (in shares)

1,839

5,270

Vested or expected to vest at the end of the year (in shares)

1,839

Exercisable at the end of the year (in shares)

1,662

Weighted Average Exercise Price

Balance at the beginning of the year (in dollars per share)

$ 3.4

Options granted (in dollars per share)

Options exercised (in dollars per share)

Options forfeited/expired (in dollars per share)

3.59

Balance at the end of the year (in dollars per share)

3.03

$ 3.4

Vested or Expected to vest at the end of the year (in dollars per share)

3.03

Exercisable at the end of the year (in dollars per share)

$ 3.13

Weighted Average Remaining Contractual Life (In Years)

Balance

5 years 7 months 13 days

2 years 11 months 12 days

Vested or Expected to vest at the end of the year

5 years 7 months 13 days

Exercisable at the end of the year

5 years 5 months 23 days

Aggregate Intrinsic Value (in thousands)

Weighted average grant date fair value

^[1]

$ 0

Vested or Expected to vest at the end of the year

^[1]

Exercisable at the end of the year

^[1]

$ 0

[1]

respectively, The amount represents what would have been received by the option holders had all option holders exercised their options and sold the shares received upon exercise as of that date.

The Company and its Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per common share

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share attributable to stockholders is as follows (in thousands):


	Years Ended June 30,
	2025			2024
Numerator:
Net loss used to compute basic and diluted loss per share	$	(1,591	)	$	(15,545	)
Denominator:
Weighted average shares used to compute basic and diluted loss per share		102,768			98,272
Basic and dilutive net loss per share	$	(0.02	)	$	(0.16	)
Anti-dilutive share-based awards, excluded		12,236			14,052
Anti-dilutive warrants		17,181			—

Joint Venture - Summary of Reconciliation Between the Carrying Value of Investment and Proportional Share of Underlying Equity in Net Assets of Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]
Carrying value of investment in joint venture	$ 4,612	$ 9,826
Equity method goodwill	57,802	57,672	$ 57,681
Joint venture
Schedule of Equity Method Investments [Line Items]
Carrying value of investment in joint venture	4,612	9,826
Deferred intra-entity profit margin	17,501	9,835
Dividend declared	2,453	0
Dividend declared	2,500	2,500
Equity method goodwill	(4,720)	(4,720)
Proportional share of equity investment in joint venture	$ 19,846	$ 14,941

- Definition

+ References

+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Cash flows from operating activities
Net loss	$ (1,591)	$ (15,545)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	6,150	5,905
Share-based compensation	10,201	9,484
Amortization of debt financing costs and discount for warrants issued to lenders	1,439	955
Gain on extinguishment of debt	(1,475)	0
Non-cash interest paid-in-kind	616	0
Loss from change in fair value of warrant liability	499	0
Recovery from credit losses	(101)	(479)
Provision for write-down of inventories	2,216	6,022
Income on equity method investment	(4,714)	(1,838)
Net deferred profit margin on sales to the JV	7,666	4,098
Provision for deferred income taxes	156	1,402
Changes in assets and liabilities:
Accounts receivable	13,356	(15,826)
Inventories	(9,109)	(3,998)
Prepaid expenses and other assets	(2,542)	6,116
Deferred cost of revenue	(912)	(275)
Accounts payable	(18,674)	17,365
Operating lease liabilities, net of operating lease right-of-use assets	620	321
Accrued liabilities	(5,906)	(16,506)
Customer advances	(2,440)	(6,619)
Deferred revenues	7,405	(2,486)
Net cash provided by (used in) operating activities	2,860	(11,904)
Cash flows from investing activities
Purchases of property and equipment, net	(4,272)	(3,601)
Capitalized costs for software to be sold	(4,251)	0
Net cash used in investing activities	(8,523)	(3,601)
Cash flows from financing activities
Proceeds from the issuance of common stock to employees	1,627	2,247
Taxes paid related to net share settlement of equity awards	(90)	(117)
Proceeds from Term Loan due 2030	150,000	0
Debt issuance costs	(13,289)	(81)
Paydown of Prior Convertible Notes	(68,500)	0
Paydown of Prior Term Loan Facility	(64,000)	(6,000)
Borrowings under the Revolving Credit Facility	27,000	5,000
Repayments under the Revolving Credit Facility	(37,000)	(5,000)
Net cash used in financing activities	(4,252)	(3,951)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1,657	(1,354)
Net decrease in cash, cash equivalents and restricted cash	(8,258)	(20,810)
Cash, cash equivalents and restricted cash at beginning of period	70,392	91,202
Cash, cash equivalents and restricted cash at end of period	62,134	70,392
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	3,870	1,749
Cash paid for interest	9,737	10,520
Supplemental non-cash disclosure:
Fair value of stock issued to settle Convertible Notes	11,102	0
Fair value of warrants issued with debt	21,105	0
Unpaid purchase of property and equipment at end of year	888	445
Unpaid capitialized software costs at end of year	258	0
Transfers from inventory to property and equipment	3,709	3,438
Transfer of inventory to other assets	1,218	0
Transfer of Lease Liabilities to Leaseholds Improvement	1,251	2,593
Transfer of other assets to property and equipment	242	0
Dividend receivable from joint venture	$ 2,453	$ 2,460

Goodwill and Purchased Intangible Assets - Additional Information (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($)
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 0.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Leases - Schedule of Weighted-Average Remaining Lease Term And Discount Rate For Operating Leases (Details)	Jun. 30, 2025	Jun. 30, 2024
Leases [Abstract]
Weighted average remaining lease term (in years)	7 years 9 months 18 days	8 years 2 months 12 days
Weighted average discount rate	10.40%	10.40%

Revenue (Tables)

12 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

Summary of Contract with Customer, Asset and Liability

Changes in the contract assets and contract liabilities are as follows (dollars in thousands):


					Change
	June 30, 2025		June 30, 2024		$			%
Contract assets:
Unbilled accounts receivable – current (1)	$	11,823	$	19,131		(7,308	)		(38	)
Interest receivable – current (2)		284		305		(21	)		(7	)
Long-term accounts receivable (3)		3,777		2,859		918			32
Interest receivable – non-current (3)		172		432		(260	)		(60	)
Contract liabilities:
Customer advances		12,197		13,988		(1,791	)		(13	)
Deferred revenue – current		82,306		71,649		10,657			15
Deferred revenue – non-current		26,566		24,114		2,452			10

(1)

Included in accounts receivable on the consolidated balance sheets

(2)

Included in prepaid expenses and other current assets on the consolidated balance sheets

(3)

Included in other assets on the consolidated balance sheets

Schedule of Remaining Performance Obligations related to Warranty


	Fiscal years
	2026		2027		2028		Thereafter
Long-term warranty and service	$	28,029	$	22,559	$	10,369	$	3,160

Summary of Expenses Related to Capitalized Costs

The Company has classified the capitalized costs to obtain a contract as a component of prepaid expenses and other current assets and other assets with respect to the current and non-current portions of capitalized costs, respectively, on the consolidated balance sheets.


	Years Ended June 30,
	2025		2024
Capitalized contract costs	$	852	$	2,958
Amortization of capitalized contract costs		2,726		4,068
Impairment loss on capitalized contracts		421		128

Segment Disclosure (Tables)

12 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Summary of Net Revenue by Geographic Region

The following summarizes net revenue by geographic region (in thousands):


	Years ended June 30,
	2025		2024
Americas	$	88,768	$	90,156
EIMEA		144,264		168,611
China		124,475		103,412
Japan		53,622		55,682
Asia Pacific		47,376		28,690
Total net revenues	$	458,505	$	446,551

Summary of Countries Represents More Than Ten Percent of Company's Net Revenue

The following summarizes countries that represent more than ten percent of the Company’s net revenues (in thousands):


	Years ended June 30,
	2025			2024
United States		16	%		18	%
China		27	%		23	%
Japan		12	%		12	%
Rest of world		45	%		47	%
Total net revenues		100	%		100	%

Schedule of Geographic Areas in Which the Company has Long-Lived Assets, Property, Plant and Equipment Net, and Operating Lease Right of Use Assets

Information regarding geographic areas in which the Company has long-lived assets, which consists of property, plant and equipment, net, and operating lease right-of-use assets are as follows (in thousands):


	June 30, 2025		June 30, 2024
Americas	$	49,466	$	46,570
EIMEA		9,220		9,327
China		1,577		1,211
Japan		999		1,304
Asia Pacific		511		135
Total long-lived assets	$	61,773	$	58,547

Stock Incentive Plan and Employee Stock Purchase Plan - Summary of Share-based Compensation Charges Included in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Share-based compensation expenses
Share-based compensation expense	$ 10,201	$ 9,484
Cost of revenue \| Products
Share-based compensation expenses
Share-based compensation expense	634	866
Cost of revenue \| Services
Share-based compensation expenses
Share-based compensation expense	709	509
Research and development
Share-based compensation expenses
Share-based compensation expense	1,508	1,456
Selling and marketing
Share-based compensation expenses
Share-based compensation expense	2,167	1,905
General and administrative
Share-based compensation expenses
Share-based compensation expense	$ 5,183	$ 4,748

Stock Incentive Plan and Employee Stock Purchase Plan - Additional Information (Details)

12 Months Ended

Jun. 30, 2025

USD ($)

Plan

$ / shares

Jun. 30, 2024

USD ($)

$ / shares

Nov. 30, 2024

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Number of stock incentive plans | Plan

Employee stock purchase plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Weighted average period for recognition of compensation costs

10 months 24 days

Unrecognized compensation cost

$ 600,000

Purchase price expressed as percentage of fair market value of common stock

85.00%

Shares issued under the ESPP | shares

1,200,000

1,100,000

Weighted average fair value (in dollars per share) | $ / shares

$ 1.37

$ 1.79

Common Stock, Capital Shares Reserved for Future Issuance | shares

2,600,000

Maximum | Employee stock purchase plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Payroll deductions as percentage of salaries

10.00%

Number of shares per period up to which employees may purchase | shares

2,500

Value of shares up to which employees may purchase in any calendar year

$ 25,000

Employee Stock Option

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Options granted (in dollars per share) | $ / shares

$ 0

Cash received from option exercises

$ 300,000

Unrecognized compensation cost related to unvested stock options, net of estimated forfeitures

$ 200,000

Weighted average period for recognition of compensation costs

6 months

Weighted average grant date fair value

^[1]

$ 0

Restricted Stock Units

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Weighted average period for recognition of compensation costs

1 year 4 months 24 days

Unrecognized compensation cost

$ 11,500,000

Weighted average grant date fair value

9,200,000

9,700,000

Aggregate fair market value of units vested

$ 5,500,000

5,900,000

Vested (in shares) | shares

2,752,000

Performance Stock Units

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Weighted average period for recognition of compensation costs

1 year 8 months 12 days

Unrecognized compensation cost

$ 2,900,000

Weighted average grant date fair value

$ 2,800,000

3,300,000

Aggregate fair market value of units vested

$ 400,000

Vested (in shares) | shares

2007 Amended and Restated Plan | Employee Stock Option

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Contractual term

10 years

Percentage of the award vesting at first anniversary

25.00%

Vesting period for first 25% vesting rights

1 year

Remainder vesting period

36 months

2007 Amended and Restated Plan | Employee Stock Option | Minimum

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Exercise price of stock options as a percentage of fair market value on the grant date

100.00%

2007 Amended and Restated Plan | Time-based RSUs

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Annual vesting percentage

25.00%

Amended And Restated Two Thousand And Sixteen Equity Incentive Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Number of shares of stock authorized | shares

5,000,000

Amended And Restated Two Thousand And Seven Employee Stock Purchase Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Number of shares of stock authorized | shares

2,500,000

Stock Incentive Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Common Stock, Capital Shares Reserved for Future Issuance | shares

5,200,000

[1]

respectively, The amount represents what would have been received by the option holders had all option holders exercised their options and sold the shares received upon exercise as of that date.

Stock Incentive Plan and Employee Stock Purchase Plan (Tables)

12 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Summary of share-based compensation charges included in the Company's consolidated statements of operations and comprehensive income (loss)

The following table summarizes the share‑based compensation charges included in the Company’s consolidated statements of operations and comprehensive loss (in thousands):


	Years ended June 30,
	2025		2024
Cost of revenue - product	$	634	$	866
Cost of revenue - service		709		509
Research and development		1,508		1,456
Selling and marketing		2,167		1,905
General and administrative		5,183		4,748
Total	$	10,201	$	9,484

Summary of share-based compensation charges included in the Company's Equity Awards

The following table summarizes the share‑based compensation charges for the Company’s equity awards (in thousands):


	Years ended June 30,
	2025		2024
Stock options	$	344	$	741
Restricted stock units		7,948		7,307
Performance stock units		1,166		386
Employee stock purchase plan		743		1,050
Total	$	10,201	$	9,484

Schedule of option activity under the Company's Incentive Plan

A summary of option activity under the Company’s incentive plan is presented below (in thousands except per share and term amounts):


	Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (In Years)		Aggregate Intrinsic Value (1)
Balance at June 30, 2024		5,270		$	3.40		2.95	$	—
Options granted		—			—
Options exercised		—			—
Options forfeited/expired		(3,431	)	$	3.59
Balance at June 30, 2025		1,839		$	3.03		5.62	$	—
Vested or expected to vest at June 30, 2025		1,839		$	3.03		5.62	$	—
Exercisable at June 30, 2025		1,662		$	3.13		5.48	$	—

respectively, The amount represents what would have been received by the option holders had all option holders exercised their options and sold the shares received upon exercise as of that date.

Summary of information about outstanding and exercisable options

The following table summarizes information about outstanding and exercisable options at June 30, 2025 (in thousands, except years and exercise price):


	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number Outstanding		Weighted Average Exercise Price
$1.96 – $1.96		200		7.00	$	1.96		150	$	1.96
$2.08 – $2.08		556		6.92	$	2.08		429	$	2.08
$2.60 – $2.60		397		4.34	$	2.60		397	$	2.60
$4.10 – $4.46		553		4.64	$	4.32		553	$	4.32
$4.52 – $4.52		133		6.00	$	4.52		133	$	4.52
Total outstanding		1,839		5.62	$	3.03		1,662	$	3.13

Summary of activity of RSUs and PSUs

The following table summarizes the activity of RSUs and PSUs (in thousands, except fair value per share):


Unvested Restricted Stock	Restricted Stock Units			Performance Stock Units			Total Number of Shares Underlying Stock Awards			Weighted Average Grant Date Fair Value Per Share
Unvested at June 30, 2024		5,969			2,813			8,782		$	2.66
Granted		4,343			1,235			5,578		$	2.13
Vested		(2,752	)		—			(2,752	)	$	2.68
Cancelled/forfeited		(394	)		(817	)		(1,211	)	$	3.39
Unvested at June 30, 2025		7,166			3,231			10,397		$	2.29

Schedule of weighted average assumptions used for determining fair value of ESPP shares

The Company estimates the fair value of ESPP shares at the date of grant using the Black‑Scholes option pricing model. The weighted average assumptions were as follows:


	Years Ended June 30,
	2025	2024
Risk–free interest rate	4.12% -4.43%	5.05% - 5.39%
Dividend yield	—%	—%
Expected term	0.5 - 1.0	0.5 - 1.0
Expected volatility	44.02% - 83.32%	37.22% - 61.48%

Commitments and Contingencies - Schedule of Information about the Company's Royalty Expense and Royalty Payments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Royalty expense	$ 1,716	$ 1,913
Royalty payments	$ 1,573	$ 1,371

Retirement Plans

12 Months Ended

Jun. 30, 2025

Defined Benefit Pension Obligation Disclosure [Abstract]

Retirement Plans

Note 13. Retirement Plans

Employee Benefit Plan

The Company’s employee savings and retirement plan is qualified under Section 401(k) of the United States Internal Revenue Code. Employees may make voluntary, tax‑deferred contributions to the 401(k) Plan up to the statutorily prescribed annual limit. The Company makes discretionary matching contributions to the 401(k) Plan on behalf of employees up to the limit determined by the Board of Directors. The Company contributed $2.2 million and $2.1 million to the 401(k) Plan during the years ended June 30, 2025 and 2024, respectively.

Defined Benefit Pension Obligation

The Company has established a defined benefit pension plan for its employees in its Switzerland subsidiary. The plan provides benefits to employees upon retirement, death or disability. The Company uses June 30 as the year‑end measurement date for this plan.

Obligations and Funded Status

The following table presents the funded status of the defined benefit pension plan (in thousands):


	June 30,
	2025			2024
Change in benefit obligation:
Benefit obligation—beginning of fiscal year	$	24,059		$	19,388
Service cost		1,553			1,245
Interest cost		322			381
Plan participants’ contributions		1,806			3,548
Actuarial loss		1,493			2,236
Foreign currency changes		3,275			(124	)
Settlements		—			(2,434	)
Amendments		(131	)		—
Benefit and expense payments		(1,436	)		(181	)
Benefit obligation—end of fiscal year	$	30,941		$	24,059
Change in plan assets:
Plan assets—beginning of fiscal year	$	21,329		$	18,761
Employer contributions		1,353			1,265
Actual return on plan assets		2,502			467
Plan participants’ contributions		1,806			3,548
Foreign currency changes		2,996			(97	)
Settlements		—			(2,434	)
Benefit and expense payments		(1,437	)		(181	)
Plan assets—end of fiscal year	$	28,549		$	21,329
Funded status	$	(2,392	)	$	(2,730	)
Amounts recognized within the consolidated balance sheets:
Long-term other liabilities	$	(2,392	)	$	(2,730	)
Net amount recognized	$	(2,392	)	$	(2,730	)

The following table presents the amounts recognized in accumulated other comprehensive loss (before tax) for the defined benefit pension plan (in thousands):


	June 30,
	2025		2024
Net actuarial gain	$	1,128	$	428
Prior service credit		254		127
Total gain recognized in accumulated other comprehensive loss	$	1,382	$	555


	June 30,
	2025		2024
Projected benefit obligation	$	30,941	$	24,059
Accumulated benefit obligation	$	22,747	$	20,946
Fair value of plan assets	$	28,549	$	21,329

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss


	Year ended June 30,
	2025			2024
Net Periodic Benefit Costs:
Service cost	$	1,553		$	1,245
Interest cost		322			381
Expected returns on assets		(330	)		(284	)
Amortization of prior service credit		(24	)		(24	)
Amortization of net gain		—			(92	)
Gain on settlement		—			(65	)
Net periodic benefit costs		1,521			1,161
Other Amounts Recognized in Other Comprehensive Loss:
Net (gain) loss arising during the year		(715	)		2,019
Prior service credit		26			24
Amortization of prior service credit		(139	)		—
Amortization of net gain		—			91
Effect of settlement		—			65
Total (gain) loss recognized in other comprehensive loss		(828	)		2,199
Total recognized in net periodic benefit costs and other comprehensive loss	$	693		$	3,360


	2026
Net loss	$	—
Prior service cost		32
Accumulated other comprehensive income	$	32

Assumptions

The assumptions used to determine net periodic benefit cost and to compute the expected long‑term return on assets for the Company’s defined benefit pension plan were as follows:


	Fiscal Years
	2025			2024
Net Periodic Benefit Costs:
Discount rate		1.20	%		1.30	%
Rate of compensation increase		1.75	%		1.75	%
Expected long-term return on assets		1.50	%		1.50	%

The assumptions used to measure the benefit obligation for the Company’s defined benefit pension plan were as follows:


	June 30,
	2025			2024
Benefit Obligation:
Discount rate		1.20	%		1.30	%
Rate of compensation increase		1.75	%		1.75	%

Contributions and Future Benefit Payments

The Company made contributions of approximately $1.4 million and $1.3 million to the defined benefit pension plan during fiscal years 2025 and 2024, respectively. The Company expects total contributions to the defined benefit pension plan for fiscal year 2026 will be approximately $1.5 million.

Estimated future benefit payments expected to be paid by the defined benefit pension plan at June 30, 2025 are as follows (in thousands):


Year Ending June 30,	Future Benefits
2026	$	1,745
2027		1,530
2028		1,580
2029		1,648
2030		2,564
Thereafter		10,841
Total estimated future benefit payments	$	19,908

Plan Assets

The plan assets are invested in insurance contracts with Copré Collective Foundation based in Lausanne, Switzerland at the end of fiscal years 2025 and 2024. In fiscal 2025 and 2024, the risks of death and disability are reinsured with Zurich Life Insurance. The Copré Foundation for Occupational Benefits (“Copré Foundation”) defines and is responsible for the asset strategy and invests the plan assets for the Company. The Copré Foundation invests the plan assets in insurance contracts which can be measured at Level 2 in the fair value hierarchy. In fiscal 2025 and 2024, the expected interest rate for mandatory retirement savings was 1.5% and 1.5%, respectively. The technical administration and management of the savings account are guaranteed by the Copré Foundation. Insurance benefits due are paid directly to the entitled persons by the Copré Foundation. Accuray International Sàrl has committed itself to pay the annual contributions and costs due under the pension fund regulations.

The contract of affiliation between the Company and the Copré Collective Foundation can be terminated by either side. In the event of a termination, recipients of retirement and survivors’ benefits would remain with the collective foundation. The Company commits itself to transfer its active insured members and recipients of disability benefits to the new employee benefits institution, thus releasing the Copré Collective Foundation from all obligations.

Stock Incentive Plan and Employee Stock Purchase Plan - Schedule of Option Activity Under the Company's Incentive Plan (Parenthetical) (Details) - $ / shares	Jun. 30, 2025	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Fair value of common stock (in dollars per share)	$ 1.37	$ 1.82

Supplemental Financial Information - Consolidated Statements of Operations - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Supplemental Financial Information Disclosure [Abstract]
Contractual interest coupon	$ (10,221)	$ (10,552)
Contractual interest coupon	(12,276)	(11,508)
Accrued paid-in-kind interest	(616)	0
Amortization for financing costs and discount for warrants issued to lenders	(1,439)	(956)
Other	(678)	(116)
Total interest expense	$ (12,954)	$ (11,624)

- Definition

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

+ References + Details

The Company and its Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Jun. 30, 2025 USD ($) Segment Customer shares	Jun. 30, 2024 USD ($) Customer shares	Jun. 06, 2025 $ / shares shares	May 31, 2021
Concentration Risk [Line Items]
Number of operating segments \| Segment	1
Number of reporting units \| Segment	1
Impairment of goodwill \| $	$ 0	$ 0
Common stock not included in the calculation of potentially diluted shares	3,100,000	17,100,000
Subsequent period within which no material changes in unrecognized tax benefits are expected	12 months
Penny Warrants
Concentration Risk [Line Items]
Detachable warrants	0		6,247,531
Warrants, exercise price \| $ / shares			$ 0.01
Premium Warrants
Concentration Risk [Line Items]
Detachable warrants			17,180,710
Warrants, exercise price \| $ / shares			$ 1.68
Machinery and equipment
Concentration Risk [Line Items]
Period over which property and equipment are depreciated	5 years
Furniture and fixtures
Concentration Risk [Line Items]
Period over which property and equipment are depreciated	4 years
Computer and office equipment
Concentration Risk [Line Items]
Period over which property and equipment are depreciated	3 years
Computer Software
Concentration Risk [Line Items]
Period over which property and equipment are depreciated	3 years
Total net revenue \| Customer concentration risk \| Minimum
Concentration Risk [Line Items]
Number of significant customers \| Customer	1	1
Total net revenue \| Customer one \| Customer concentration risk
Concentration Risk [Line Items]
Percentage of concentration risk	10.00%	10.00%
Total accounts receivable \| Credit concentration risk
Concentration Risk [Line Items]
Number of significant customers \| Customer	1	1
Total accounts receivable \| Customer one \| Credit concentration risk \| Minimum
Concentration Risk [Line Items]
Percentage of concentration risk	10.00%	10.00%
3.75% Convertible Notes Due 2026
Concentration Risk [Line Items]
Interest rate (as a percent)	3.75%			3.75%

Supplemental Financial Information

12 Months Ended

Jun. 30, 2025

Supplemental Financial Information Disclosure [Abstract]

Supplemental Financial Information

Note 3. Supplemental Financial Information

Consolidated Balance Sheets

Financing receivables

A financing receivable is a contractual right to receive money, on demand or on fixed or determinable dates, that is recognized as an asset on the Company’s balance sheets. The Company’s financing receivables, consisting of its accounts receivable with contractual maturities of more than one year, are included in other assets on the consolidated balance sheets. The Company evaluates the credit quality of a customer at contract inception and monitors credit quality over the term of the underlying transactions. The Company performs a credit analysis for all new orders and reviews payment history, current order backlog, financial performance of the customers and other variables that augment or mitigate the inherent credit risk of a particular transaction. Such variables include the underlying value and liquidity of the collateral, the essential use of the equipment, the contract term and the inclusion of credit enhancements, such as guarantees, letters of credit or security deposits. Actual cash collections may differ from the contracted maturities due to early customer buyouts, refinancing, or defaults. The Company classifies accounts as high risk when it considers the financing receivable to be impaired or when management believes there is a significant near‑term risk of non‑payment. The Company performs an assessment each quarter on the allowance for credit losses related to its financing receivables.

A summary of the Company’s financing receivables is presented as follows (in thousands):


	June 30, 2025		June 30, 2024
Financing receivable	$	3,842	$	2,871
Allowance for credit losses		—		—
Total, net	$	3,842	$	2,871
Reported as:
Current	$	1,082	$	1,340
Non-current		2,760		1,531
Total, net	$	3,842	$	2,871

Inventories

Inventories consisted of the following (in thousands):


	June 30, 2025		June 30, 2024
Raw materials	$	49,001	$	57,699
Work-in-process		14,844		13,629
Finished goods		77,175		66,996
Total inventories	$	141,020	$	138,324

The Company's inventories on the consolidated balance sheets are net of reserves.

Prepaid and Other Current Assets

Prepaid and other current assets consisted of the following (in thousands):


	June 30, 2025		June 30, 2024
Value added tax receivables	$	11,381	$	4,026
Prepaid commissions		4,388		5,288
Capitalized contract costs		1,949		1,876
Income tax receivable		841		368
Debt financing costs		470		—
Dividend receivable from JV		2,453		2,460
Other prepaid assets		5,560		5,018
Other current assets		6,459		3,970
Total prepaid and other current assets	$	33,501	$	23,006

Debt financing costs are related to the $20 million delayed draw term loan facility and the short-term financing costs related to the $20 million revolving credit facility included in the Financing Agreement (see Note 7. Debt, for more information).

Property and Equipment, net

Property and equipment, net consisted of the following (in thousands):


	June 30, 2025			June 30, 2024
Machinery and equipment	$	49,147		$	45,539
Leasehold improvements		32,491			30,994
Software		11,534			11,308
Computer and office equipment		6,797			6,347
Furniture and fixtures		1,959			1,719
Construction in progress		4,641			2,550
		106,569			98,457
Less: Accumulated depreciation		(77,911	)		(73,683	)
Total property and equipment, net	$	28,658		$	24,774

Depreciation expense related to property and equipment was $6.1 million, and $5.8 million during the years ended June 30, 2025, and 2024, respectively.

Goodwill

Activity related to goodwill consisted of the following (in thousands):


	As of June 30,
	2025		2024
Balance at the beginning of the period	$	57,672	$	57,681
Currency translation adjustment		130		(9	)
Balance at the end of the period	$	57,802	$	57,672

The Company performed its annual goodwill impairment test in the quarter ended December 31, 2024, and determined that there was no impairment to goodwill. The Company did not identify any triggering events that would indicate a potential impairment of its goodwill as of June 30, 2025. The Company will continue to monitor its recorded goodwill for indicators of impairment every fiscal quarter.

Other Assets

Other assets consisted of the following (in thousands):


	June 30, 2025		June 30, 2024
Capitalized software costs to be sold	$	10,252	$	4,683
Capitalized contract costs		5,359		7,768
Long-term accounts receivable		3,777		2,859
Purchased intangible assets, net		15		59
Deferred tax asset		756		659
Debt financing costs		669		—
Other long-term assets		3,615		1,981
Total other assets	$	24,443	$	18,009

There was no amortization expense or amounts written down to net realizable value for the capitalized software costs to be sold during the years ended June 30, 2025 and 2024, respectively. Amortization expense related to purchased intangible assets during the year ended June 30, 2025, was not material and during the year ended June 30, 2024, was $0.2 million. The Company’s purchased intangible assets at June 30, 2025, will be fully amortized in fiscal year 2026. The Company did not identify any triggering events that would indicate a potential impairment of its definite-lived intangible and long-lived assets as of June 30, 2025. Debt financing costs are related to the $20 million revolving credit facility included in the Financing Agreement (see Note 7. Debt, for more information).

Other Accrued Liabilities

Other accrued liabilities consisted of the following (in thousands):


	June 30, 2025		June 30, 2024
Value added tax liabilities	$	12,408	$	5,048
Commissions due to third parties		573		5,202
Refunds due to customers		3,581		6,079
Accrued royalties		3,082		2,939
Accrued consulting		1,648		1,238
Interest payable		967		485
Income tax payable		973		1,206
Other liabilities		6,129		6,311
Total other accrued liabilities	$	29,361	$	28,508

Consolidated Statements of Operations

Interest expense consisted of the following (in thousands)


	Years Ended June 30,
	2025			2024
Contractual interest coupon	$	(10,221	)	$	(10,552	)
Accrued paid-in-kind interest		(616	)		-
Amortization for financing costs and discount for warrants issued to lenders		(1,439	)		(956	)
Other		(678	)		(116	)
Total interest expense	$	(12,954	)	$	(11,624	)

Other income (expense), net, consisted of the following (in thousands):


	Years Ended June 30,
	2025			2024
Interest income	$	1,192		$	1,231
Foreign currency exchange gain (loss)		1,573			(2,046	)
Costs for foreign currency forward contracts		(2,376	)		(1,811	)
Other, net		170			88
Total other income (expense), net	$	559		$	(2,538	)

Derivative Financial Instruments - Schedule of Gain (Loss) Associated with the Company's Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Foreign currency exchange gain (loss) on forward contracts	$ 1,573	$ (2,046)
Other expense, net \| Forward contracts
Foreign currency exchange gain (loss) on forward contracts	$ 655	$ (613)

Debt - Additional Information (Details)			12 Months Ended
Debt - Additional Information (Details)	Jun. 06, 2025 USD ($) $ / shares shares	Jun. 05, 2025 USD ($) $ / shares shares	Jun. 30, 2025 USD ($) shares	Jun. 30, 2024 USD ($) shares	Sep. 30, 2025	Jun. 11, 2025 $ / shares	May 31, 2021 USD ($)
Debt Instrument [Line Items]
Principal amount			$ 168,000,000	$ 174,000,000
Aggregate cash payment			68,500,000	0
Unamortized debt issuance costs			11,101,000	1,844,000
Value of premium warrants			8,497,000	0
Change in fair value			$ 499,000	$ 0
Common stock, issued shares \| shares			112,643,852	100,194,932
Premium Warrants
Debt Instrument [Line Items]
Value of premium warrants	$ 13,100,000
Delayed Draw Term Loan Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity			$ 20,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity			$ 20,000,000
Prior Revolving Credit Facility
Debt Instrument [Line Items]
Reference rate (as a percent)			9.10%	9.50%
Principal amount			$ 0	$ 10,000,000
Weighted average effective interest rate			9.10%	9.50%
Convertible Note Holders
Debt Instrument [Line Items]
Conversion price (in dollars per share) \| $ / shares		$ 1.52				$ 1.25
Aggregate cash payment		$ 68,500,000
3.75% Convertible Notes Due 2026
Debt Instrument [Line Items]
Aggregate principal amount of debt issued							$ 100,000,000
Interest rate (as a percent)			3.75%				3.75%
Conversion rate, number of shares to be issued per $1000 of principal amount (in shares)		170.5611
Principal amount used for debt instrument conversion ratio		$ 1,000
Conversion price (in dollars per share) \| $ / shares		$ 5.86
Repurchase price, as a percentage of the principal amount, in the event of a fundamental change, as defined in Indenture		100.00%
Convertible notes exchanged		$ 82,000,000
Aggregate cash payment		13,500,000
Unamortized debt issuance costs		500,000
Principal payment		$ 18,000,000
Common stock, issued shares \| shares		8,881,579
Issued share price \| $ / shares		$ 1.52
3.75% Convertible Notes Due 2026 \| Convertible Note Holders
Debt Instrument [Line Items]
Aggregate cash payment		$ 68,500,000
Financing Agreement June 2025
Debt Instrument [Line Items]
Variable rate (as a percent)			8.50%
Debt Instrument, Interest Rate Terms			Interest on the borrowings under the Facilities is payable in arrears on the applicable interest payment date at an interest rate equal to, at the Company’s option, either: (i) a term SOFR-based rate (subject to a 2.00% per annum floor), plus an applicable margin of 8.50%, per annum or (ii) a reference rate (subject to a 3.00% per annum floor), plus an applicable margin of 7.50% per annum.
Debt instrument interest rate floor					2.00%
Applicable margin rate (as a percent)			1.00%
Unamortized debt issuance costs wrote-off	400,000
Leverage ratio			5.25
Unused commitment fee percentage per annum of average unused portion of the New Revolving Credit Facility			0.50%
Initial fair value of warrants on issuance		$ 8,000,000
Debt financing fees	13,100,000
Original Issue discount fee	$ 5,400,000
Financing Agreement June 2025 \| Premium Warrants
Debt Instrument [Line Items]
Warrants purchase shares (in Shares) \| shares	17,180,710
Warrants, exercise price \| $ / shares	$ 1.68
Financing Agreement June 2025 \| Penny Warrants
Debt Instrument [Line Items]
Warrants purchase shares (in Shares) \| shares	6,247,531
Warrants, exercise price \| $ / shares	$ 0.01
Financing Agreement June 2025 \| Floor Rate
Debt Instrument [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]			SOFR
Financing Agreement June 2025 \| Term Loan
Debt Instrument [Line Items]
Term of loan	5 years
Credit facility borrowing capacity	$ 150,000,000
Financing Agreement June 2025 \| Prior Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal amount of debt issued	80,000,000
Principal amount	58,000,000
Financing Agreement June 2025 \| Delayed Draw Term Loan Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity	20,000,000
Debt financing fees	1,200,000
Financing Agreement June 2025 \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity	20,000,000
Proceeds drawn from the Revolving Credit Facility	0
Debt financing fees	1,200,000
Financing Agreement June 2025 \| Prior Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity	40,000,000
Credit facility outanding amount	$ 17,000,000
Financing Agreement June 2025 \| Reference Rate
Debt Instrument [Line Items]
Variable rate (as a percent)			7.50%
Debt instrument interest rate floor			3.00%
Financing Agreement June 2025 \| 3.75% Convertible Notes Due 2026
Debt Instrument [Line Items]
Interest rate (as a percent)	3.75%
Aggregate cash payment	$ 68,500,000
Remaining outstanding amount			$ 18,000
Financing Agreement June 2025 \| PIK
Debt Instrument [Line Items]
Variable rate (as a percent)			6.00%
Applicable margin rate (as a percent)			1.00%

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jun. 30, 2025	Aug. 22, 2025	Dec. 31, 2024
Cover [Abstract]
Entity Registrant Name	ACCURAY INCORPORATED
Entity Central Index Key	0001138723
Document Type	10-K
Document Period End Date	Jun. 30, 2025
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Trading Symbol	ARAY
Entity Filer Category	Accelerated Filer
Document Financial Statement Error Correction [Flag]	false
Entity Public Float			$ 146,769,044
Entity Common Stock, Shares Outstanding		112,677,147
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity File Number	001-33301
Entity Tax Identification Number	20-8370041
Entity Address, Address Line One	1240 Deming Way
Entity Address, City or Town	Madison
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53717
City Area Code	608
Local Phone Number	824-2800
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.001 par value per share
Security Exchange Name	NASDAQ
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Proxy Statement for the Registrant’s 2025 Annual Meeting of stockholders to be filed within 120 days of our fiscal year end (the “2025 Proxy Statement”) are incorporated by reference in Part III of this Form 10‑K.
Auditor Name	GRANT THORNTON LLP
Auditor Location	San Jose, California
Auditor Firm ID	248
Auditor Opinion	Opinion on the financial statements We have audited the accompanying consolidated balance sheets of Accuray Incorporated (a Delaware corporation) and subsidiaries (the “Company”) as of June 30, 2025 and 2024, the related consolidated statements of operations and comprehensive income (loss), stockholders’ equity, and cash flows for each of the two years in the period ended June 30, 2025, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2025 and 2024, and the results of its operations and its cash flows for each of the two years in the period ended June 30, 2025, in conformity with accounting principles generally accepted in the United States of America. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the Company’s internal control over financial reporting as of June 30, 2025, based on criteria established in the 2013 Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”), and our report dated August 28, 2025 expressed an unqualified opinion.

Debt

12 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Debt

Note 7. Debt

The Company's outstanding debt as of June 30, 2025 and June 30, 2024 is as follows (in thousands):


	As of June 30,
	2025			2024
Term Loan Facilities due 2030	$	150,000		$	—
Convertible Senior Notes due June 1, 2026		18,000			100,000
Prior Term Loan Facility		-			64,000
Prior Revolving Credit Facility		-			10,000
Total debt		168,000			174,000
Paid-in-kind interest		616			-
Unamortized debt financing costs		(11,101	)		(1,844	)
Unamortized discount for warrants issued to lenders		(20,995	)		-
Total debt, net		136,520			172,156
Reported as:
Short-term debt, net	$	12,734		$	7,756
Long-term debt, net		123,786			164,400
Total debt, net	$	136,520		$	172,156

A summary of interest expense on the Company’s outstanding debt is as follows (in thousands):


	Year ended June 30,
	2025		2024
Contractual interest coupon	$	10,221	$	10,552
Accrued paid-in-kind interest		616		-
Amortization of debt financing costs and discount for warrants issued to lenders		1,439		956
Total interest expense on debt	$	12,276	$	11,508

A summary of weighted average effective interest rate on the Company’s debt is as follows:


	Year ended June 30,
	2025			2024
Term Loan Facility due 2030		22.0	%		—
Convertible Senior Notes due June 1, 2026		4.3	%		4.3	%
Prior Term Loan Facility		8.6	%		8.6	%
Prior Revolving Credit Facility		9.1	%		9.5	%

The weighted average effective interest rate includes coupon interest rates, paid-in-kind interest, the amortization of debt financing costs, and the amortization of the discount for warrants issued to lenders.

Financing Agreement June 2025

On June 6, 2025, the Company entered into a new five-year senior secured credit agreement, due June 6, 2030, (the “Financing Agreement”) by and among the Company, as borrower (the “Borrower”), TCW Asset Management Company LLC, a leading global asset manager (“TCW”), as collateral agent for the lenders (in such capacity, together with its successors and assigns in such capacity, the “Collateral Agent”) and as administrative agent for the lenders (in such capacity, together with its successors and assigns in such capacity, the “Administrative Agent”, and together with the Collateral Agent, each an “Agent” and collectively, the “Agents”), and certain other parties signatory thereto. The Financing Agreement provides for a $150 million term loan (the “Term Loan Facility”), a $20 million delayed draw term loan facility (the “Delayed Draw Facility”), and a $20 million revolving credit facility (“Revolving Credit Facility”). The proceeds of the Term Loan Facilities were used to fully refinance the Company’s existing senior secured indebtedness, which provided for a five-year $80 million term loan facility (the "Prior Term Loan Facility") and a $40 million revolving credit facility (the “Prior Revolving Credit Facility”), and which had $58.0 million and $17.0 million of outstanding balances of the Prior Term Loan

Facility and Prior Revolving Credit Facility, respectively, and to fund the aggregate cash payment of approximately $68.5 million as part of the Exchange (as defined below) of a portion of the Company’s 3.75% Convertible Senior Notes due 2026 (the “Convertible Notes”). The proceeds of the Delayed Draw Facility may be used to fund any future repurchases of outstanding Convertible Notes. The proceeds of loans drawn under the Revolving Credit Facility will be used to fund the general working capital needs and general corporate purposes of the Company and its subsidiaries. In connection with the repayment of the Prior Term Loan Facility and the Prior Revolving Credit Facility, the Company wrote-off $0.4 million in unamortized debt issuance costs which is recorded as a loss on extinguishment of debt.

As of June 30, 2025, no proceeds were drawn on the Revolving Credit Facility. The Company will be able to access the Delayed Draw Down Facility from the date financial reports are delivered under the Financing Agreement for the fiscal quarter ending December 31, 2025 through June 6, 2026, if certain the total leverage ratio of the Company is not greater than 5.25:1.00 and certain other conditions, as described in the Financing Agreement, are met. The proceeds from the Delayed Draw Facility may be used to fund the remaining $18.0 million outstanding Convertible Notes due June 1, 2026.

The Borrower’s obligations under the Financing Agreement are secured by first-priority liens on substantially all assets of the Borrower, subject to certain exceptions. The Financing Agreement requires the Borrower to cause certain of its direct and indirect subsidiaries to, within 90 days of the closing date of the Financing Agreement, grant first-priority liens on substantially all of their assets, in each case, subject to certain exceptions.

Interest on the borrowings under the Facilities is payable in arrears on the applicable interest payment date at an interest rate equal to, at the Company’s option, either: (i) a term SOFR-based rate (subject to a 2.00% per annum floor), plus an applicable margin of 8.50%, per annum or (ii) a reference rate (subject to a 3.00% per annum floor), plus an applicable margin of 7.50% per annum. The agreement provides the option for payment-in-kind interest (“PIK”) up to 6.00% per annum (subject to an increase in applicable margin of 1/3 of 1.00% per annum for each 1.00% per annum of interest elected to be paid in kind which PIK interest will be capitalized on the applicable interest payment date and will be added to the then-outstanding principal amount of the term loans. The Financing Agreement requires the Borrower to pay the lenders with commitments under the Revolving Credit Facility an unused commitment fee equal to 0.50% per annum of the average unused portion of the Revolving Credit Facility.

On June 6, 2025, concurrently with its entry into the Financing Agreement, the Company issued detachable warrants to purchase the Company’s common stock to certain of its lenders (the “Warrant Holders”) under the Financing Agreement. The Warrant Holders were issued warrants to purchase (i) 17,180,710 shares of common stock with an exercise price of $1.68 per share, exercisable on and after December 7, 2025 and expiring on June 6, 2032 (the “Premium Warrants”) and (ii) 6,247,531 shares of common stock with an exercise price of $0.01 per share (“Penny Warrants”) exercisable immediately and expiring on June 6, 2032.

The Company determined that the Premium Warrants qualified as freestanding instruments that met all of the criteria for equity classification. The Premium Warrants were valued at $13.1 million at the issuance date and were recorded as a debt discount to the Term Loan Facility (see Note 9. Stockholders’ Equity, for more information). The Company will amortize the debt discount using the effective interest rate method over the life of the Term Loan Facility as interest expense.

The Company determined that the Penny Warrants qualified for liability classification. The Company calculated the fair value of the Penny Warrants to be $8.0 million at the issuance date and were recorded as a debt discount (see Note 6. Fair value Measurements, for more information). The Company will amortize the debt discount using the effective interest rate method over the life of the Term Loan Facility as interest expense.

The Company paid $13.1 million in debt financing fees (including a $5.4 million Original Issue Discount Fee). Approximately $1.2 million of the debt financing fees are associated with the Delayed Draw Facility and Revolving Credit Facility and are included in prepaid and current assets and other assets on the consolidated balances sheets. The debt financing fees will be amortized using the effective interest rate method over the life of the Term Loan Facility as interest expense.

The Financing Agreement contains restrictions and covenants applicable to the Company and its subsidiaries. Among other requirements, the Company may not permit (i) the total leverage ratio (as defined in the Financing Agreement) to be greater than a certain specified ratio for each fiscal quarter during the term of the Financing Agreement, (ii) the fixed charge coverage ratio (as defined in the Financing Agreement) to be less than a certain specified ratio for each fiscal quarter during

the term of the Financing Agreement or (iii) liquidity (as defined in the Financing Agreement) to be less than a certain specified threshold for each month during the term of the Financing Agreement. The Company was in compliance with its covenants and other requirements of the Financing Agreement as of June 30, 2025.

The Financing Agreement also contains customary covenants that limit, among other things, the ability of the Company and its subsidiaries to (i) incur indebtedness, (ii) incur liens on their property, (iii) pay dividends or make other distributions, (iv) sell their assets, (v) make certain loans or investments, (vi) merge or consolidate, (vii) voluntarily repay or prepay certain indebtedness and (viii) enter into transactions with affiliates, in each case subject to certain exceptions. The Financing Agreement contains customary representations and warranties and events of default.

3.75% Convertible Senior Notes due June 1, 2026

In May 2021, the Company issued $100.0 million aggregate principal amount of its 3.75% Convertible Senior Notes due June 1, 2026 (the “Convertible Notes”) under an indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee.

On June 5, 2025, the Company entered into separate, privately-negotiated exchange agreements with a limited number of existing holders of the Convertible Notes (the “Convertible Noteholders”) to exchange (the “Exchange”) approximately $82.0 million aggregate principal amount of the Convertible Noteholders’ existing Convertible Notes for (i) an aggregate of 8,881,579 shares of the Company’s common stock (the “Shares”), valued at $1.52 per share based on the closing stock price on June 5, 2025, or $13.5 million in the aggregate and (ii) an aggregate cash payment of approximately $68.5 million. (See Note 9. Shareholders’ Equity, for more information). Holders of the remaining $18.0 million aggregate principal amount of the Convertible Notes did not receive cash or shares of common stock in the Exchange mentioned above and the original terms of such Convertible Notes were not modified. In connection with the repayment of the Convertible Notes in the Exchange, the Company wrote-off $0.5 million in unamortized debt issuance costs which is recorded as a loss on extinguishment of debt.

Holders of the remaining Convertible Notes may convert their notes at any time on or after March 6, 2026 until the close of the business day immediately preceding the maturity date. Prior to June 1, 2026, the remaining holders of the Convertible Notes may convert their notes only under certain circumstances. Upon conversion, the Company will have the right to pay cash, or deliver shares of common stock of the Company or a combination thereof, at the Company’s election. The initial conversion rate is 170.5611 shares of the Company’s common stock per $1,000 principal amount (which represents an initial conversion price of approximately $5.86 per share of the Company’s common stock). The conversion rate, and therefore, the conversion price, is subject to adjustment, as further described below.

Holders of the remaining Convertible Notes who convert their notes in connection with a “make-whole fundamental change,” as defined in the indenture, may be entitled to a make-whole premium in the form of an increase in the conversion rate. Additionally, in the event of a “fundamental change,” as defined in the indenture, holders of the remaining Convertible Notes may require the Company to purchase all or a portion of their note at a fundamental change repurchase price equal to 100% of the principal amount of the Convertible Notes, plus accrued and unpaid interest, if any, to, but not including, the fundamental change repurchase date. As of June 30, 2025 and June 30, 2024, the if-converted value of the remaining Convertible Notes did not exceed the outstanding principal amount.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2025

Jun. 30, 2024

Revenue

$ 458,505

$ 446,551

Total cost of revenue

^[1]

311,538

303,630

Research and development

^[2]

47,942

49,732

Products

Revenue

^[3]

237,580

234,164

Total cost of revenue

162,569

161,061

Services

Revenue

^[4]

220,925

212,387

Total cost of revenue

148,969

142,569

Revenue from Joint Venture

Total cost of revenue

74,421

59,853

Research and development

1,482

942

Revenue from Joint Venture | Products

Revenue

101,563

77,497

Revenue from Joint Venture | Services

Revenue

$ 18,521

$ 15,039

[1]	Includes cost of revenue from sales to the joint venture, an equity method investment, of $74,421 during the year ended June 30, 2025, and $59,853 during the year ended June 30, 2024. See Note 11.
[2]	Includes charge backs to the joint venture, an equity method investment, related to research and development of $1,482 during the year ended June 30, 2025 and $942 during the year ended June 30, 2024.
[3]	Includes sales of products to the joint venture, an equity method investment, of $101,563 during the year ended June 30, 2025, and $77,497 during the year ended June 30, 2024. See Note 11.
[4]	Includes sales of services to the joint venture, an equity method investment, of $18,521 during the year ended June 30, 2025, and $15,039 during the year ended June 30, 2024. See Note 11.

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

Joint Venture

12 Months Ended

Jun. 30, 2025

Equity Method Investments and Joint Ventures [Abstract]

Joint Venture

Note 11. Joint Venture

In January 2019, the Company’s wholly-owned subsidiary, Accuray Asia Limited (“Accuray Asia”), entered into an agreement with CNNC High Energy Equipment (Tianjin) Co., Ltd. (the “CIRC Subsidiary”), a wholly-owned subsidiary of China Isotope & Radiation Corporation, to form a joint venture, CNNC Accuray (Tianjin) Medical Technology Co. Ltd. (the “JV”), to manufacture and sell radiation oncology systems in China. As of June 30, 2025, the Company owned a 49% interest in the JV, which is reported as an investment in joint venture on the Company’s consolidated balance sheets.

The Company applies the equity method of accounting to its ownership interest in the JV as the Company has the ability to exercise significant influence over the JV but lacks controlling financial interest and is not the primary beneficiary. The Company recognizes the 49% proportionate share of the JV income or loss on a one-quarter lag due to the timing of the availability of the JV’s financial records. The Company recognizes revenue on sales to the JV in the current period of control transfer, eliminating a portion of profit to the extent goods sold have not been sold through by the JV to an end customer by the end of each reporting period. With the receipt of the necessary permits and licenses to operate, the JV has begun to manufacture and sell a locally branded “Made in China” radiotherapy device, the Tomo C radiation therapy system, in the Class B license category. The JV also distributes other Accuray treatment delivery systems like the Radixact and CyberKnife treatment delivery systems, including the Radixact SynC and CyberKnife S7 Systems, which received NMPA approval in

January 2025. The JV also distributes other Accuray treatment delivery systems like the Radixact and CyberKnife treatment delivery systems.


	June 30, 2025			June 30, 2024
Carrying value of investment in joint venture	$	4,612		$	9,826
Deferred intra-entity profit margin		17,501			9,835
Dividend declared		2,453			-
Equity method goodwill		(4,720	)		(4,720	)
Proportional share of equity investment in joint venture	$	19,846		$	14,941

As of June 30, 2025 and June 30, 2024, the Company’s carrying value of the investment in the JV for the Company's proportional share of the JV's currency translation adjustment was decreased by $0.4 million and $0.6 million, respectively. In June 2025, the JV declared a $2.5 million dividend to the Company that was paid in July 2025. In June 2024, the JV declared a $2.5 million dividend to the Company paid in fiscal year 2025. The Company records the dividends as a reduction to its carrying value in the JV. No impairment was identified as of June 30, 2025 and June 30, 2024.

Summarized financial information of the JV is as follows (in thousands):


Statement of Operations Data:	Twelve Months Ended March 31, 2025		Twelve Months Ended March 31, 2024
Revenue	$	160,213	$	114,942
Gross profit	$	29,438	$	22,137
Net income	$	9,617	$	3,750
Net income attributable to the Company	$	4,714	$	1,838


Summarized Balance Sheet Data:	As of March 31, 2025		As of March 31, 2024
Assets
Current assets	$	172,109	$	102,500
Non current assets		16,426		12,425
Total assets	$	188,535	$	114,925
Liabilities and Stockholders' Equity
Current liabilities	$	146,587	$	79,300
Non current liabilities		1,334		113
Stockholder's equity		40,614		35,512
Total liabilities and stockholders' equity	$	188,535	$	114,925

The following table shows the activity of the Company’s deferred intra-entity profit margin from sales to the JV (in thousands):


	Years Ended June 30,
	2025			2024
Deferred gross profit recognized on sales to the JV	$	(16,738	)	$	(9,061	)
Deferred gross profit on sales to the JV		24,404			13,159
Net deferred gross profit on sales to the JV (1)	$	7,666		$	4,098

(1)

Supplemental Financial Information - Summary of Financing Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Financing receivables
Financing receivable	$ 3,842	$ 2,871
Allowance for credit losses	0	0
Total, net	3,842	2,871
Current	1,082	1,340
Non-current	$ 2,760	$ 1,531

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-13

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
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-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-7A

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 29
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-29

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph a
-Subparagraph (1)
-Publisher SEC

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph a
-Subparagraph (2)
-Publisher SEC

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1404
-Paragraph a
-Publisher SEC

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
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-Name Accounting Standards Codification
-Section 55
-Paragraph 80
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-URI https://asc.fasb.org/1943274/2147479294/326-20-55-80

Reference 8: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 79
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479294/326-20-55-79

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479344/326-20-45-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-02(3)(b))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-14

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-5

+ Details

Retirement Plans - Assumptions (Details)	12 Months Ended
Retirement Plans - Assumptions (Details)	Jun. 30, 2025	Jun. 30, 2024
Net Periodic Benefit Costs:
Discount rate (as a percent)	1.20%	1.30%
Rate of compensation increase (as a percent)	1.75%	1.75%
Expected long-term return on assets (as a percent)	1.50%	1.50%
Benefit Obligation:
Discount rate (as a percent)	1.20%	1.30%
Rate of compensation increase (as a percent)	1.75%	1.75%

Fair Value Measurements - Summary of Carrying Value, Net of Debt Costs and Estimated Fair Value of all Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Carrying Value
Fair value measurement
Long term debt	$ 136,520	$ 172,156
Fair Value
Fair value measurement
Long term debt	135,949	159,136
Non-recurring basis \| Carrying Value \| Level 2 \| 3.75% Convertible Notes due June 1, 2026
Fair value measurement
Long term debt	17,893	98,782
Non-recurring basis \| Fair Value \| Level 2 \| 3.75% Convertible Notes due June 1, 2026
Fair value measurement
Long term debt	17,322	85,762
Prior Term Loan Facility \| Non-recurring basis \| Carrying Value \| Level 2
Fair value measurement
Long term debt	0	63,374
Prior Term Loan Facility \| Non-recurring basis \| Fair Value \| Level 2
Fair value measurement
Long term debt	0	63,374
Term Loan Facilities due 2030 \| Non-recurring basis \| Carrying Value \| Level 2
Fair value measurement
Long term debt	118,627	0
Term Loan Facilities due 2030 \| Non-recurring basis \| Fair Value \| Level 2
Fair value measurement
Long term debt	118,627	0
Prior Revolving Credit Facility \| Non-recurring basis \| Carrying Value \| Level 2
Fair value measurement
Long term debt	0	10,000
Prior Revolving Credit Facility \| Non-recurring basis \| Fair Value \| Level 2
Fair value measurement
Long term debt	$ 0	$ 10,000

Goodwill and Purchased Intangible Assets - Schedule of Carrying Amount of Acquired Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Finite Lived Intangible Assets [Line Items]
Net Amount	$ 15	$ 59

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value Measurements - Summary of Carrying Value, Net of Debt Costs and Estimated Fair Value of all Debt (Parenthetical) (Details)	Jun. 30, 2025	Jun. 30, 2024	May 31, 2021
3.75% Convertible Notes Due 2026
Fair value measurement
Interest rate (as a percent)	3.75%		3.75%
3.75% Convertible Notes due June 1, 2026
Fair value measurement
Interest rate (as a percent)	3.75%	3.75%

Goodwill and Purchased Intangible Assets - Schedule of Estimated Future Amortization Expense of Purchased Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Estimated future amortization expense of purchased intangible assets
Total estimated future amortization expense	$ 15	$ 59

Commitments and Contingencies - Schedule of Future Minimum Principal Payments and Interest on Notes and Term Loan Facility (Details)
$ in Thousands

Jun. 30, 2025

USD ($)

^[1]

Long-term principal and interest on Convertible Notes

$ 33,943

21,787

21,650

21,403

172,186

$ 270,969

[1]

Debt - Schedule of Carrying Values of All Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Debt Instrument [Line Items]
Total debt	$ 168,000	$ 174,000
Paid-in-kind interest	616	0
Unamortized debt financing costs	(11,101)	(1,844)
Unamortized discount for warrants issued to lenders	(20,995)	0
Total debt, net	136,520	172,156
Reported as:
Short-Term Debt	12,734	7,756
Long-term debt, net	123,786	164,400
Total debt, net	136,520	172,156
Prior Revolving Credit Facility
Debt Instrument [Line Items]
Total debt	0	10,000
Convertible Senior Notes due June 1, 2026
Debt Instrument [Line Items]
Total debt	18,000	100,000
Term Loan Facilities due 2030
Debt Instrument [Line Items]
Total debt	150,000	0
Prior Term Loan Facility
Debt Instrument [Line Items]
Total debt	$ 0	$ 64,000

Segment Disclosure - Summary of Net Revenue by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Segment Information
Total net revenues	$ 458,505	$ 446,551
Americas
Segment Information
Total net revenues	88,768	90,156
Europe, India, Middle East and Africa
Segment Information
Total net revenues	144,264	168,611
China
Segment Information
Total net revenues	124,475	103,412
Japan
Segment Information
Total net revenues	53,622	55,682
Asia Pacific
Segment Information
Total net revenues	$ 47,376	$ 28,690

- Definition

+ References

+ Details

Supplemental Financial Information - Summary of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024
Inventory, Net [Abstract]
Raw materials	$ 49,001	$ 57,699
Work-in-process	14,844	13,629
Finished goods	77,175	66,996
Total inventories	$ 141,020	$ 138,324

Goodwill and Purchased Intangible Assets - Schedule of Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 57,672	$ 57,681
Currency translation adjustment	130	(9)
Balance at the end of the period	$ 57,802	$ 57,672

- Definition

+ References

+ Details

Leases

12 Months Ended

Jun. 30, 2025

Leases [Abstract]

Leases

Note 4. Leases

The Company has operating leases for corporate offices and warehouse facilities worldwide. Additionally, the Company leases cars and copy machines that are considered operating leases. Some of the Company’s leases are non-cancellable operating lease agreements with various expiration dates through August 2035. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised, and therefore are not factored into the determination of lease payments.

The following table provides information related to the Company’s operating leases (in thousands):


	Years Ended June 30,
	2025		2024
Operating lease costs (1)	$	8,980	$	9,146
Short-term operating lease costs		286		305
Cash paid for amounts included in the measurement of lease liabilities		8,011		9,013

(1)

Excludes expenses related to short-term lease operating costs.

Operating lease right-of-use assets and operating lease obligations are represented in the table below (in thousands):


	June 30, 2025			June 30, 2024
Beginning balance operating lease right-of-use assets	$	33,773		$	25,853
Lease assets added		4,624			14,389
Amortization for the year		(5,282	)		(6,469	)
Ending balance operating lease right-of-use assets	$	33,115		$	33,773

Beginning balance operating lease obligations	$	38,591		$	27,753
Lease liabilities added		5,726			16,775
Repayment and interest accretion		(4,460	)		(5,937	)
Ending balance operating lease obligations	$	39,857		$	38,591

Current portion of operating lease obligations	$	7,375		$	6,218
Noncurrent portion of operating lease obligations	$	32,482		$	32,373

The weighted-average remaining lease term and weighted-average discount rate for operating leases were as follows:


	June 30, 2025			June 30, 2024
Weighted average remaining lease term (in years)		7.8			8.2
Weighted average discount rate		10.4	%		10.4	%

Maturities of operating lease liabilities as of June 30, 2025, are presented in the table below (in thousands):


Year Ending June 30,	Amount
2026	$	7,201
2027		8,257
2028		7,135
2029		5,515
2030		4,789
Thereafter		24,948
Total operating lease payments		57,845
Less: imputed interest		(17,988	)
Present value of operating lease liabilities	$	39,857

Segment Disclosure

12 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Segment Disclosure

Note 14. Segment Disclosure

The Company has one operating and reporting segment (oncology systems group), which develops, manufactures and markets proprietary medical devices used in radiation therapy for the treatment of cancer patients. The Company’s Chief Executive Officer, its Chief Operating Decision Maker (“CODM”), assesses financial performance by reviewing a reporting package based on consolidated results of the Company when making decisions about allocating resources and assessing performance. The CODM evaluates performance based on net revenues, gross profit, and operating income which are consistent with what is reported on the consolidated statements of comprehensive income (loss). Significant segment expenses regularly provided to the CODM are consolidated research and development expenses, sales and marketing, and general and administrative expenses as reported on the consolidated financial statements. In addition, the CODM regularly reviews the budget and forecast-to-actual variances to evaluate performance and to make decisions about allocating capital and other resources. The Company does not assess the performance of its individual product lines on measures of profit or loss, or asset-based metrics. Therefore, the information below is presented only for revenues and long‑lived tangible assets by geographic areas.

Disaggregation of Revenues

The Company disaggregates its revenues from contracts by geographic region, as the Company believes this best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by economic factors. The Company reports its customer revenues in five geographic regions: the Americas, EIMEA, Japan, China and Asia Pacific. The Americas region primarily includes the United States, Canada, and Latin America. The EIMEA region includes Europe, India, the Middle East and Africa. The Asia Pacific region consists of Asia (excluding Japan and China), Australia and New Zealand.

Additionally, the Company typically recognizes revenue at a point in time for product revenue and recognizes revenue over time for service revenue. Revenues attributed to a country or region are based on the shipping addresses of the Company’s customers.

The following summarizes net revenue by geographic region (in thousands):


	Years ended June 30,
	2025		2024
Americas	$	88,768	$	90,156
EIMEA		144,264		168,611
China		124,475		103,412
Japan		53,622		55,682
Asia Pacific		47,376		28,690
Total net revenues	$	458,505	$	446,551

The following summarizes countries that represent more than ten percent of the Company’s net revenues (in thousands):


	Years ended June 30,
	2025			2024
United States		16	%		18	%
China		27	%		23	%
Japan		12	%		12	%
Rest of world		45	%		47	%
Total net revenues		100	%		100	%

Disaggregation of long-lived assets


	June 30, 2025		June 30, 2024
Americas	$	49,466	$	46,570
EIMEA		9,220		9,327
China		1,577		1,211
Japan		999		1,304
Asia Pacific		511		135
Total long-lived assets	$	61,773	$	58,547

The long-lived assets in the Americas region are located in the United States as of June 30, 2025, and June 30, 2024.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
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-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

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+ Details