Varex Imaging Corporation

Varex Imaging Corporation Earnings Recaps

VREX Health Care 1 recap
Q1 2026 Feb 11, 2026

Varex Imaging reported a strong start to FY 2026 with Q1 revenues of $210 million, reflecting a 5% year-over-year increase, driven primarily by robust performance in the Industrial segment.

Key takeaways
  • Industrial segment revenue surged 17% year-over-year, supported by high demand in cargo systems and nondestructive testing applications.
  • Non-GAAP gross margin reached 34%, benefiting from a favorable product sales mix, aligning with guidance.
  • Non-GAAP EBITDA rose to $29 million, a 12% increase year-over-year, while Non-GAAP EPS improved to $0.19, up from $0.10.
  • Customer engagement at RSNA highlighted positive trends in demand, with increased focus on next-generation system designs and strong sales trends in certain medical modalities.
  • Varex's integrated modality-based approach to product offerings is expected to enhance customer partnerships and drive long-term revenue growth through system-level design wins.
Full recap