Varex Announces Financial Results for Fourth Quarter and Fiscal Year 2025

About this update from Varex Imaging Corporation

[{"type":"text","content":" SALT LAKE CITY--(BUSINESS WIRE)--\nVarex Imaging Corporation (Nasdaq: VREX) today announced its unaudited financial results for the fourth quarter and fiscal year 2025.\n\n\nQ4FY25 Summary\n\n\n\nRevenues $229 million\n\n\n\nGAAP gross margin 34% | Non-GAAP gross margin* 34%\n\n\n\nGAAP operating margin 9% | Non-GAAP operating margin* 10%\n\n\n\nGAAP net income $0.29 per diluted share | Non-GAAP net income* $0.37 per diluted share\n\n\n\nCash flow from operations was $8 million\n\n\n\nFY25 Summary\n\n\n\nRevenues $845 million\n\n\n\nGAAP gross margin 34% | Non-GAAP gross margin* 35%\n\n\n\nGAAP operating margin (3)% | Non-GAAP operating margin* 9%\n\n\n\nGAAP net loss $(1.70) per diluted share | Non-GAAP net income* $0.90 per diluted share\n\n\n\nCash flow from operations $42 million\n\n\n\nSunny Sanyal, Chief Executive Officer, stated, \"Fourth quarter revenue reached $229 million, up 11% year-over-year and at the high-end of our expectations. This strong finish to the fiscal year was driven primarily by global CT tube sales in our Medical segment, while sustained momentum in our cargo systems business drove a 25% increase in Industrial segment sales compared to last year.\"\n\n\nVarex’s fourth quarter revenue of $229 million was up 11% year-over-year. Medical segment revenue of $152 million was up 5% year-over-year. Industrial segment revenue of $77 million was up 25% year-over-year. Non-GAAP gross margin was 34% in the quarter compared to 33% in the fourth quarter of fiscal year 2024 and non-GAAP EPS increased to $0.37 in the quarter from $0.19 in the fourth quarter of fiscal year 2024.\n\n\nSanyal added, \"In fiscal 2025, revenue grew 4% year-over-year to $845 million, driven by an improvement in our Medical segment and continued strength in the Industrial segment. Non-GAAP EBITDA grew 37% to $122 million, and non-GAAP EPS rose 73% to $0.90 for the year.\" Sanyal continued, \"We advanced key growth initiatives, including innovative technologies like photon counting for CT and the successful launch of our radiographic detector from our new facility in India. In Industrial, we made substantial progress with our cargo systems vertical, securing over $55 million dollars of orders and shipping over 15 new systems during the year.\"\n\n\nBalance Sheet & Cash Flow\n\n\nCash flow from operations was $8 million in the fourth quarter...

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