Highlights

  • Second quarter 2026 revenues were $266.8 million, compared with $222.9 million, and gross profit was $133.1 million, compared with $102.5 million.
  • Net income was $8.1 million, compared with $8.5 million, and net income attributable to Mirion Technologies was $7.7 million.
  • Backlog, covering committed but undelivered contracts and purchase orders, was $1,138.6 million at June 30, 2026, against $1,104.3 million at year end.
  • Cash, cash equivalents and restricted cash were $421.6 million at June 30, 2026, and the term loan balance was $450.0 million.

Mirion Technologies (NYSE: MIR) shares were trading at USD 15.43 on October 27, 2026, up 3.42%, with a relative volume at time of 2.21. The radiation detection company completed its Certrec acquisition on July 31, 2025 and its Paragon Energy Solutions acquisition on December 1, 2025, and filed its quarterly report for the period ended June 30, 2026 on July 29, 2026.

Mirion Technologies is incorporated in Delaware and lists its principal executive offices in Atlanta, Georgia. It provides products, services and software that allow customers to use ionizing radiation in medical, nuclear and defense markets, as well as laboratories and scientific research. It reports two segments, Nuclear & Safety and Medical. Medical covers radiation therapy quality assurance, nuclear medicine and personal dosimetry. Its fiscal year ends December 31.

Second Quarter Results

Revenues for the three months ended June 30, 2026 were $266.8 million, compared with $222.9 million, an increase of $43.9 million. Nuclear & Safety contributed $186.2 million, or 69.8% of revenues, and Medical contributed $80.6 million, or 30.2%. The company said Nuclear & Safety revenues increased primarily due to price increases, organic volume growth, foreign exchange and recent acquisitions, including $39.8 million of revenue associated with recent acquisitions. It said Medical revenues decreased primarily due to lower volume, specifically in Asia-Pacific countries, and a decline in dosimetry product sales.

Selling, general and administrative expenses were $105.1 million, compared with $82.6 million. Income from operations was $17.9 million, compared with $9.9 million. Nuclear & Safety income from operations was $26.0 million and Medical was $14.8 million, while corporate loss from operations was $22.9 million.

Interest expense, net, was $5.8 million, compared with $9.8 million. The company recorded a foreign currency loss, net, of $1.0 million, compared with a gain of $13.5 million a year earlier. Income tax expense was $3.2 million, for an effective tax rate of 28.3%. Net income was $8.1 million, compared with $8.5 million. Diluted net earnings per share attributable to Mirion were $0.03, the same as the prior-year quarter. The company attributed the lower net income primarily to the foreign currency change, higher intangible amortization, higher compensation costs and higher income tax expense.

For the six months, revenues were $524.4 million, compared with $424.9 million, and net earnings attributable to Mirion shareholders were $4.3 million, or $0.02 per diluted share.

Balance Sheet, Debt and Cash Flow

At June 30, 2026, cash, cash equivalents and restricted cash were $421.6 million, of which approximately $218.1 million was held outside the United States. The term loan under the 2021 Credit Agreement had a remaining principal balance of $450.0 million at an interest rate of 5.70%, and the $175.0 million revolving facility had no outstanding balance, with approximately $162.4 million available. The company also has $400.0 million of 0.25% Convertible Senior Notes due 2030 and $375.0 million of 0.00% Convertible Senior Notes due 2031.

Net cash provided by operating activities for the six months was $77.4 million, compared with $48.0 million. Net cash used in investing activities was $19.8 million, and net cash used in financing activities was $45.2 million. Under its $100 million share repurchase program, the company has repurchased 3.3 million shares cumulatively for $59.6 million.

Acquisitions and Outlook

Mirion acquired Certrec for approximately $82.9 million of gross purchase consideration on July 31, 2025, and Paragon Energy Solutions for $588.6 million of gross purchase consideration on December 1, 2025. The Nuclear & Safety segment results include purchase accounting intangibles amortization of $8.4 million related to recent acquisitions. The filing does not provide numerical guidance. It states that management believes operating cash flow, augmented by long-term debt arrangements, will provide adequate liquidity for the next 12 months,.