Varex Imaging Corp SEC 10-Q Report

Varex Imaging Corp, a leading provider of X-ray imaging components and solutions, has released its Form 10-Q report for the second quarter of fiscal year 2025. The report highlights significant financial growth and operational achievements, underscoring the company's robust performance in the medical and industrial imaging markets.

Financial Highlights

Varex Imaging Corp reported impressive financial results for the three months ended April 4, 2025, showcasing substantial growth across key metrics:

• Revenues, net: $212.9 million, up from $206.2 million in the same period in 2024, indicating a positive trend in sales.
• Gross Profit: $76.7 million, an increase from $65.8 million in the prior year period, reflecting improved profitability.
• Operating Income: $22.1 million, a significant rise from $7.7 million for the same period in 2024, highlighting enhanced operational efficiency.
• Net Income: $7.1 million, a notable increase from $1.6 million in the prior year period, demonstrating strong bottom-line growth.
• Net Income per common share attributable to Varex - Basic: $0.17, compared to $0.03 for the same period in 2024, reflecting improved earnings per share.
• Net Income per common share attributable to Varex - Diluted: $0.17, compared to $0.03 for the same period in 2024, indicating consistent earnings growth on a diluted basis.

Business Highlights

Varex Imaging Corp's business performance for the second quarter of fiscal year 2025 was marked by several key operational achievements:

• Revenue Segments: The company operates in two primary segments: Medical and Industrial. The Medical segment includes X-ray imaging components such as X-ray tubes and digital detectors, while the Industrial segment focuses on products like Linatron X-ray linear accelerators and digital detectors for security and inspection purposes.
• Geographical Performance: Revenue distribution was strong across three main regions: the Americas, EMEA (Europe, the Middle East, India, and Africa), and APAC (Asia-Pacific). The Americas accounted for $133.8 million in revenue for the six months ended April 4, 2025, while EMEA and APAC contributed $132.1 million and $146.8 million, respectively.
• Customer Segments: Canon Medical Systems Corporation was a significant customer, accounting for 17.9% of the company's revenue for the six months ended April 4, 2025. This underscores the importance of key OEM relationships in Varex's business model.
• Future Outlook: Varex Imaging Corp is actively engaged in research and development to enhance its product offerings and maintain its competitive edge in the X-ray imaging market. The company is also focused on expanding its market presence in key geographical regions.

SEC Filing: Varex Imaging Corp [ VREX ] - 10-Q - May. 08, 2025