ViewRay (VRAYQ) Stock Price

ViewRay Price

NASDAQ·CLOSED
0.00USD+0.00 (+0.00 %)
Market closed

Revenue has compounded at 49.0% per year over the past 10 years to 102.20 M USD. ViewRay's net margin stands at -105.0%, down from -97.7% several years earlier. The stock trades about 9,900% above its 52-week low.

ViewRay stock price

Volume
Details

Stock Price

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How to Read This Chart

This chart tracks the historical stock price of ViewRay over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how ViewRay stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing ViewRay's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

ViewRay Stock Price History
DateViewRay Price
7/9/20260.00 USD
7/8/20260.00 USD
7/7/20260.00 USD
7/6/20260.00 USD
7/2/20260.00 USD
7/1/20260.00 USD
6/30/20260.00 USD
6/29/20260.00 USD
6/26/20260.00 USD
6/25/20260.00 USD
6/24/20260.00 USD
6/23/20260.00 USD
6/22/20260.00 USD
6/18/20260.00 USD
6/17/20260.00 USD
6/16/20260.00 USD
6/15/20260.00 USD
6/12/20260.00 USD
6/11/20260.00 USD
6/10/20260.00 USD
6/9/20260.00 USD
6/8/20260.00 USD
6/5/20260.00 USD
6/4/20260.00 USD
6/3/20260.00 USD
6/2/20260.00 USD
6/1/20260.00 USD
5/29/20260.00 USD
5/28/20260.00 USD
5/27/20260.00 USD
5/26/20260.00 USD
5/22/20260.00 USD
5/21/20260.00 USD
5/20/20260.00 USD
5/19/20260.00 USD
5/18/20260.00 USD
5/15/20260.00 USD
5/14/20260.00 USD
5/13/20260.00 USD
5/12/20260.00 USD
5/11/20260.00 USD
5/8/20260.00 USD
5/7/20260.00 USD
5/6/20260.00 USD
5/5/20260.00 USD
5/4/20260.00 USD
5/1/20260.00 USD
4/30/20260.00 USD
1/20/20260.00 USD
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ViewRay Revenue, EBIT, Net Income

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2018
81.00 M USD
-75.10 M USD
-79.10 M USD
Jan 1, 2019
87.80 M USD
-120.80 M USD
-120.20 M USD
Jan 1, 2020
57.00 M USD
-106.00 M USD
-107.90 M USD
Jan 1, 2021
70.10 M USD
-103.60 M USD
-110.00 M USD
Jan 1, 2022
102.20 M USD
-105.30 M USD
-107.30 M USD
Jan 1, 2023 (e)
95.48 M USD
-100.12 M USD
-83.12 M USD
Jan 1, 2024 (e)
154.91 M USD
-86.42 M USD
-56.67 M USD
Jan 1, 2025 (e)
223.51 M USD
-62.32 M USD
-41.56 M USD

ViewRay Income Statement, Balance Sheet, Cash Flow Statement

Last updated Jul 13, 2026, 5:04 AM
 
REVENUEM USD
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEM USD
NET INCOMEM USD
NET INCOME GROWTH%
SHARESM
201220132014201520162017201820192020202120222023e2024e2025e
1.003.006.0010.0022.0034.0081.0087.0057.0070.00102.0095.00154.00223.00
–200.00100.0066.67120.0054.55138.247.41-34.4822.8145.71-6.8662.1144.81
-100.00-166.67-33.33-40.00-13.6417.657.41-5.75-7.0214.299.809.809.809.80
-1.00-5.00-2.00-4.00-3.006.006.00-5.00-4.0010.0010.009.3115.1021.86
-25.00-28.00-33.00-45.00-50.00-72.00-79.00-120.00-107.00-110.00-107.00-83.00-56.00-41.00
–12.0017.8636.3611.1144.009.7251.90-10.832.80-2.73-22.43-32.53-26.79
38.1038.1038.1038.1040.1058.5081.10102.00147.90164.50180.70180.70180.70180.70
Details

Income Statement Key Figures

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Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales ViewRay generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue ViewRay retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare ViewRay's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares ViewRay has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against ViewRay's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

ViewRay stock margins

The ViewRay margin analysis displays the gross margin, EBIT margin, as well as the profit margin of ViewRay. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for ViewRay.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2018
8.15 %
-92.72 %
-97.65 %
Jan 1, 2019
-6.26 %
-137.59 %
-136.90 %
Jan 1, 2020
-7.19 %
-185.96 %
-189.30 %
Jan 1, 2021
0.43 %
-147.79 %
-156.92 %
Jan 1, 2022
9.78 %
-103.03 %
-104.99 %
Jan 1, 2023 (e)
9.78 %
-104.85 %
-87.05 %
Jan 1, 2024 (e)
9.78 %
-55.79 %
-36.58 %
Jan 1, 2025 (e)
9.78 %
-27.88 %
-18.59 %

ViewRay Stock Revenue, EBIT, Earnings per Share

The ViewRay earnings per share therefore indicates how much revenue ViewRay has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2018
1.00 USD
-0.93 USD
-0.98 USD
Jan 1, 2019
0.86 USD
-1.18 USD
-1.18 USD
Jan 1, 2020
0.39 USD
-0.72 USD
-0.73 USD
Jan 1, 2021
0.43 USD
-0.63 USD
-0.67 USD
Jan 1, 2022
0.57 USD
-0.58 USD
-0.59 USD
Jan 1, 2023 (e)
0.52 USD
-0.55 USD
-0.45 USD
Jan 1, 2024 (e)
0.84 USD
-0.48 USD
-0.31 USD
Jan 1, 2025 (e)
1.22 USD
-0.34 USD
-0.23 USD

ViewRay business model & stock analysis

ViewRay Inc. is an American medical technology company based in Cleveland, Ohio. It was founded in 2004 by Ivor Jankovic and specializes in the manufacturing of radiation therapy devices. The history of ViewRay begins with the idea of developing innovative technology to treat cancer patients more effectively and gently. In 2005, the company entered into an agreement with the Cleveland Clinic Lerner Research Institute to conduct research on a novel magnetic resonance-guided radiation therapy machine. The research project was led by James F. Dempsey, Chair of the Department of Radiation Oncology at the Cleveland Clinic. In 2009, the first magnetic resonance-guided radiation therapy system was delivered and implemented at the Cleveland Clinic. ViewRay's business model is based on the development and manufacturing of innovative medical devices aimed at making the treatment of cancer patients more effective and gentle. The company focuses on combining magnetic resonance imaging (MRI) and radiation therapy to ensure more precise and safer treatment. ViewRay offers various products, including the MRIdian-Linac system, an advanced radiation therapy device that utilizes MRI technology to provide real-time images of the tumor during radiation. This allows for precise targeting of the tumor while sparing the surrounding tissue. The system also offers the ability to sync radiation therapy with the patient's breathing cycle, further improving the accuracy and effectiveness of the treatment. In addition to the MRIdian-Linac system, ViewRay also offers the MRIdian-MRI system, which is solely dedicated to imaging. The MRIdian-MRI is a diagnostic instrument that allows for better visualization of tissue and tumor studies. The system uses the same MRI technology as the MRIdian-Linac to generate radiation-free images. ViewRay has also specialized in the development of software tools that assist doctors in better planning and monitoring radiation therapy. This includes the RayCare Oncology Information System, which provides a comprehensive workflow and management platform, as well as the RayStation Treatment Planning Software, which enables more precise radiation therapy planning. In terms of market reach, ViewRay has a global presence. The company has a strong presence in North America, Europe, and Asia, and works closely with leading research institutes and hospitals to evaluate and improve the effectiveness and efficiency of its technologies. Overall, ViewRay has developed an innovative and unique portfolio of products and solutions that improve radiation therapy and increase accuracy and safety for patients and doctors. The company is a leader in the development of MRI-guided radiation therapy systems and is expected to continue playing a significant role in the medical technology industry in the future.

ViewRay SWOT Analysis

Strengths

ViewRay Inc is a pioneering company in the field of image-guided radiation therapy, which allows for precise and targeted cancer treatments.

The company's flagship product, the MRIdian system, offers real-time MRI imaging during radiation therapy, providing physicians with detailed visual information for accurate treatment delivery.

ViewRay Inc has established a strong intellectual property portfolio, ensuring competitive advantage and legal protection for their innovative technology.

Weaknesses

As a relatively young company, ViewRay Inc may face challenges in market penetration and brand recognition compared to more established competitors.

The high cost of the MRIdian system may limit its adoption, especially in regions with budget constraints or insufficient insurance coverage.

ViewRay Inc's technology heavily relies on MRI, which may pose limitations in terms of availability and compatibility with existing radiation therapy centers.

Opportunities

The global demand for advanced cancer treatment options is increasing, providing opportunities for ViewRay Inc to expand its market share and revenue.

Continuous technological advancements and improvements in MRI technology can enhance the capabilities and competitiveness of ViewRay Inc's products.

Strategic partnerships with hospitals, research institutions, and healthcare providers can accelerate market penetration and facilitate product development.

Threats

The medical device industry is highly regulated, and changes in regulations or compliance requirements may impact ViewRay Inc's operations and market access.

Intense competition from well-established players in the radiation therapy market poses a threat to ViewRay Inc's market presence and growth potential.

Economic downturns, healthcare budget constraints, or changes in reimbursement policies can affect the adoption and affordability of ViewRay Inc's technology.

ViewRay Eulerpool Fair Value

Details

Fair Value Estimate

ⓘ

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

ViewRay historical P/E ratio, EBIT multiple, and P/S ratio

ViewRay annual returns

Details

Annual Return

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What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

ViewRay shares outstanding

The number of shares of ViewRay was 180.7 M in 2025. This indicates how many shares ViewRay is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2018
81.10 M Stocks
Jan 1, 2019
102.00 M Stocks
Jan 1, 2020
147.90 M Stocks
Jan 1, 2021
164.50 M Stocks
Jan 1, 2022
180.70 M Stocks
Jan 1, 2023 (e)
180.70 M Stocks
Jan 1, 2024 (e)
180.70 M Stocks
Jan 1, 2025 (e)
180.70 M Stocks

ViewRay stock splits

In ViewRay's history, there have been no stock splits.
Price targets and forecasts for ViewRay are not yet available.

ViewRay Earnings Estimates

DateEPS estimateRevenue EstimateQuarterly report
5/8/2024-0.14USD21.42 MUSD2024 Q1
2/26/2024-0.13USD26.03 MUSD2023 Q4

EESG©

Eulerpool ESG Scorecard© for the ViewRay stock

54/100
48
Environment
81
Social
34
Governance
E

Environment

20
Scope 1 - Direct Emissions—
Scope 2 - Indirect emissions from purchased energy—
Scope 3 - Indirect emissions within the value chain—
Total CO₂ emissions—
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather—
Pesticides—
Palm Oil—
Tobacco
Genetically modified organisms
Climate concept—
Sustainable forestry—
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees—
Percentage of women in management—
Percentage of Asian employees—
Share of Asian management—
Percentage of Hispanic/Latino employees—
Hispano/Latino Management share—
Percentage of Black employees—
Black Management Share—
Percentage of white employees—
White Management Share—
Adult content
Alcohol
Weapons—
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept—
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

ViewRay shareholder structure

% Name
4.93485%
Artisan Partners Limited Partnership
Artisan Partners Limited Partnership
2.24161%
Fosun International Ltd
Fosun International Ltd
0.77324%
Strong Influence Ltd
Strong Influence Ltd
0.42989%
Fidelity Management & Research Company LLC
Fidelity Management & Research Company LLC
0.00545%
Boston Family Office, LLC
Boston Family Office, LLC
0.00534%
Mackenzie Investments
Mackenzie Investments

ViewRay Executives and Management Board

PZ

Mr. Paul Ziegler

(51)

President, Chief Executive Officer

Compensation1.68 M USD
JD

Dr. James Dempsey

(52)

Chief Scientific Officer · since 2004

Compensation1.17 M USD
DM

Mr. Daniel Moore

(62)

Independent Chairman of the Board

Compensation260,999.00 USD
BR

Mr. Brian Roberts

(52)

Independent Director

Compensation220,999.00 USD
CC

Dr. Caley Castelein

(52)

Independent Director

Compensation212,166.00 USD

Frequently asked questions about ViewRay

ViewRay Inc is a medical technology company specializing in advanced radiation therapy solutions. Their business model revolves around developing and manufacturing MRIdian, a revolutionary MRI-guided radiotherapy system. By seamlessly integrating high-quality magnetic resonance imaging with precise radiation delivery, ViewRay aims to improve cancer treatment outcomes. This innovative technology allows real-time visualization of tumors and surrounding healthy tissues, enabling physicians to optimize treatment plans. ViewRay Inc focuses on providing cutting-edge solutions for the cancer care industry, ultimately aiming to enhance patient care and revolutionize the way radiation therapy is administered.

All fundamentals and in-depth analysis of ViewRay

Our stock analysis for ViewRay stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of ViewRay. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

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