ViewRay also announced the following financial highlights for the fourth quarter and full year ended December 31, 2016:
four new orders for MRIdian Systems in the fourth quarter of 2016, totaling $24.3 million, and 13 new orders for MRIdian Systems in 2016, totaling $77.0 million;
total backlog of $133.2 million as of December 31, 2016, representing 23 signed sales contracts;
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revenue of $16.1 million in the fourth quarter of 2016, primarily from sales of three MRIdian Systems, and $22.2 million for the full year 2016, primarily from sales of four MRIdian Systems;
net loss of $11.0 million in the fourth quarter of 2016 and $50.6 million for the full year 2016; and
cash and cash equivalents of $14.2 million as of December 31, 2016.
"Our strong performance in 2016, combined with the $26.1 million we raised this January, positions us well for the launch and commercialization of MRIdian Linac," said Ajay Bansal, chief financial officer of ViewRay.
About ViewRay
ViewRay®, Inc. (Nasdaq: VRAY), designs, manufactures and markets the MRIdian® radiation therapy system. MRIdian integrates MRI technology, radiation delivery and proprietary software to locate, target and track the position and shape of soft-tissue tumors during radiation. ViewRay believes this combination of enhanced visualization and accuracy will significantly improve outcomes for patients.
ViewRay and MRIdian are registered trademarks of ViewRay, Inc.
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