Amendment to Quarterly Report (Form 10-Q/A)

Accuray Incorporated (the "Company") originally filed its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 (the "Form 10-Q" or the "Original Filing") with the Securities and Exchange Commission (the "SEC") on November 5, 2025 (the "Original Filing Date"). This Form 10-Q/A is being filed to restate the Company's previously issued interim financial information as of and for the three months ended September 30, 2025.

Background of Restatement

As described in Form 8-K filed on February 9, 2026, the Company recently discovered errors related to the remaining performance obligations ("RPO") included in Note 2, Revenue, to the unaudited condensed consolidated financial statements within Part I, Item 1 of the Original Filing.

The errors were related to the RPO included in Note 2, Revenue, and was primarily due to the Company's methodology applied for determining whether executed open system orders, upgrade sales orders, and customer credits represent RPO in accordance with ASC 606, Revenue from Contracts with Customers. Based on management's reevaluation, it was determined that the Company incorrectly included open system and upgrade sales order balances, net of historical cancellation rates, within the RPO footnote as the level of customer deposits at order inception relative to the total order value does not represent substantive termination penalties and therefore should be excluded from the RPO balances included within the disclosure. The Company corrected these errors, reducing the amount of the gross RPO balance to $59.3 million from $866.0 million as included in the previously filed quarterly Form 10-Q.

The errors did not impact the unaudited Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations and Comprehensive Loss, Condensed Consolidated Statements of Stockholders' Equity and Condensed Consolidated Statements of Cash Flows included in the previously filed Form 10-Q for the period ended September 30, 2025.

On February 8, 2026, the Audit Committee of the Company's Board of Directors, after discussion with management, concluded that the previously issued financial information included in the Form 10-Q as of and for the three months ended September 30, 2025 should no longer be relied upon due to these errors and require restatement. This Form 10-Q/A reflects the changes discussed above, as well as provides restated unaudited interim financial information as of and for the three months ended September 30, 2025.

Internal Control Considerations

The Company also reevaluated its previous conclusions with respect to internal control over disclosure controls and procedures ("DCP") in light of the identified errors and determined that DCP were not effective as of September 30, 2025. The Company has identified material weaknesses related to the review of the footnote schedules supporting financial statement disclosures and inadequate controls to appropriately analyze all relevant information required for complete and accurate presentation and disclosure under GAAP principally resulting from incorrect assessment during the initial adoption of ASC 606. The Company's remediation plan will be described in more detail in Part I, Item 4, Controls and Procedures.