Amendment to Annual Report (Form 10-K/A)

Accuray Incorporated (the "Company") originally filed its Annual Report on Form 10-K for the year ended June 30, 2025 (the "Form 10-K" or the "Original Filing") with the Securities and Exchange Commission (the "SEC") on August 28, 2025 (the "Original Filing Date"). This Form 10-K/A is being filed to restate the Company's previously issued consolidated financial statements as of and for the fiscal year ended June 30, 2025, as well as to provide restated interim financial information as of September 30, 2024, December 31, 2024, and March 31, 2025 (collectively, the "Affected Periods"), contained in the Original Form 10-K and the Company's Form 10-Q's for quarterly periods in the fiscal year ended June 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 consolidated financial statements within Part II, Item 8 of the Original Filing.

The errors were primarily related to the Company's previous methodology 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 these balances within the RPO footnote primarily because 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. In addition, the Company also identified certain immaterial errors in Note 2, Revenue, in transferring the information from the supporting schedules to the Original Filing. The Company corrected these errors, reducing the amount of gross RPO balances included in the previously filed financial statements to $60.9 million (from $818.2 million), $56.9 million (from $886.1 million), $55.4 million from ($886.7 million) and $58.8 million (from $902.4 million) as of June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, respectively.

The errors did not impact the audited or unaudited Balance Sheets, Statements of Operations and Comprehensive Loss, Statements of Stockholders' Equity and Statements of Cash Flows included in the previously filed Form 10-K and 10-Q in any of the Affected Periods.

On February 8, 2026, the Audit Committee of the Company's Board of Directors, after discussion with management, concluded that the previously issued financial statements for the Affected Periods should no longer be relied upon due to these errors and require restatement. This Form 10-K/A reflects the changes discussed above, as well as provides restated annual consolidated financial statements and restated unaudited interim financial information for the Affected Periods.

Internal Control Considerations

The Company also reevaluated its previous conclusions with respect to internal control over financial reporting ("ICFR") and disclosure controls and procedures ("DCP") in light of the identified errors and determined that ICFR were not effective as of June 30, 2025 and DCP were not effective as of the period end of each Affected Financial Statements. 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 is described in more detail in Part II, Item 9A, Controls and Procedures.