ViewRay provides Q4 revenue update
Recognized revenue on 4 MRIdian Linac Systems in Q4 2017. This resulted in total 2017 revenue of approximately $34 million primarily from 6 MRIdian Linac Systems. Received new orders for MRIdian Linac systems in Q4 2017 totaling approximately $34 million, compared to orders totaling $24.3 million in Q4 2016. Received new orders for MRIdian Linac systems in 2017 totaling over $110 million, compared to orders totaling $77.0 million in 2016. Total backlog grew to over $200 million, as of December 31, 2017, up from $133.2 million as of December 31, 2016. Total cash and cash equivalents of approximately $57 million at December 31, 2017. "In the fourth quarter we saw continued momentum in new orders for the MRIdian Linac," said Chris A. Raanes, president and CEO of ViewRay. "We completed the shipment or installation of 5 MRIdian Linac systems in the fourth quarter, but expect to recognize revenue of approximately $7 million on one of them in a subsequent period." Q4 revenue consensus $30.32M.