iRay Technology, Q3 2021, Sales Results

On the 21st of October, iRay Technology, the Chinese X-ray detector manufacturer, published its financial results for Q3 2021. These show that sales continued to growth at an explosive pace during the quarter, following a period of prolonged sales growth. Quarterly sales reached CNY 268.1m, compared with CNY 169.2m in Q3 2020, an increase of approximately +58% year-on-year. This is on top of approximately +30% sales growth in Q3 2020, compared with Q3 2019. This quarterly result took cumulative 2021 sales to CNY 823.7m, compared with CNY 555.7m in 2020, an increase of almost 50% year-on-year. This on top of almost +80% sales growth in Q1-Q3 2020, compared with Q1-Q3 2019.

In H1 2021, detector product sales accounted for approximately 96% of total company revenues, with approximately 62% originating from customers based in China and 38% from exports.