Varex Imaging Corp
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Varex Imaging Corp
Varex Imaging Corp. engages in the design, manufacture, and sale of imaging components. The company is headquartered in Salt Lake City, Utah and currently employs 2,100 full-time employees. The company went IPO on 2017-01-20. The company operates through two segments: Medical and Industrial. The Medical segment designs, manufactures, sells and services X-ray imaging components, including X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, three-dimensional (3D) reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers and buckys. These components are used in a range of medical imaging applications. The Industrial segment designs, develops, manufactures, sells and services X-ray imaging products for use in various markets, including security applications for cargo screening at ports and borders, baggage screening at airports, and nondestructive testing and inspection applications used in various other markets.
Varex Imaging Corp. engages in the design, manufacture, and sale of imaging components. The company is headquartered in Salt Lake City, Utah and currently employs 2,100 full-time employees. The company went IPO on 2017-01-20. The company operates through two segments: Medical and Industrial. The Medical segment designs, manufactures, sells and services X-ray imaging components, including X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, three-dimensional (3D) reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers and buckys. These components are used in a range of medical imaging applications. The Industrial segment designs, develops, manufactures, sells and services X-ray imaging products for use in various markets, including security applications for cargo screening at ports and borders, baggage screening at airports, and nondestructive testing and inspection applications used in various other markets.
Strong Q4 Results: Revenue reached $229 million in the fourth quarter, up 11% year-over-year and at the high end of guidance, with Industrial segment posting record revenue.
Margin Expansion: Gross margin improved to 34% in Q4, up 130–140 basis points year-over-year, benefiting from higher volumes and favorable product mix.
EPS Growth: Quarterly earnings per share were $0.29 (GAAP) and $0.37 (non-GAAP), both significantly higher than last year.
Full Year Growth: Fiscal 2025 revenue rose 4% to $845 million, with Medical up 2% and Industrial up 10%; non-GAAP EPS for the year increased to $0.90.
Guidance & Outlook: Q1 2026 revenue expected between $200–215 million and non-GAAP EPS between $0.05–$0.25; China revenue expected to remain stable.
Industrial Momentum: Industrial revenue set a quarterly record, driven by cargo and security system shipments; service revenue also boosted margins.
Strategic Progress: Company advanced photon counting CT and ramped detector production in India; anti-dumping investigations in China have been paused indefinitely.