Accuray makes radiation therapy systems used by hospitals and cancer treatment centers to deliver precise, non-invasive radiation to destroy tumors. Accuray sells two core platforms: CyberKnife, a robotic radiosurgery system that mounts a linear accelerator on a six-axis robotic arm and uses the proprietary Synchrony AI system to track and compensate for tumor movement in real time; and Radixact, a helical radiation therapy platform that integrates a linear accelerator into a ring gantry and delivers radiation in continuous 360-degree rotations. Accuray has also launched Accuray Helix, a lower-cost system targeting emerging markets, and Tomo C, a helical system manufactured in China through a joint venture with CNNC for the Chinese market. Accuray sells systems directly to hospitals and cancer centers in most major markets, and through distributors elsewhere. The business model has two phases: upfront system sales, where Accuray sells premium capital equipment to hospitals, followed by recurring post-warranty service contracts tied to the installed base. Service contracts make up over 90% of service revenue and grow as more systems are installed globally. International markets represent roughly 80% of total revenue, and Accuray is targeting emerging markets — particularly China and India — as its primary growth drivers. The China JV creates margin timing complexity due to deferred margin accounting, and U.S.-China tariffs represent a cost headwind on China-bound shipments that Accuray is working to mitigate through a foreign trade zone designation and duty drawback program.