ViewRay reports preliminary Q1 new orders for $18.1M
ViewRay received 2 new orders for MRIdian Linac Systems in Q1, totaling $12.3M, vs. 2 orders totaling $11.2M in 1Q16. ViewRay also received 3 orders in Q1 totaling $5.8M to upgrade 3 installed Cobalt Systems to Linac Systems. Total backlog, as of March 31, was $144.9M representing 25 signed sales contracts. ViewRay did not recognize revenue from any new MRIdian installations or shipments in the three months ended March 31. ViewRay had total cash and cash equivalents of $49.3M at March 31, vs. $14.2M at December 31, 2016. This increase is a result of $26.1M raised in a private placement in January 2017 and $21.5M in aggregate net proceeds from the sale of common stock through "at the market offerings" in February and March.