Q3 2025 Varex Imaging Corp Earnings Call Transcript

Aug 7, 2025 / 09:00 PM GMT

Release Date Price: $7.81 (+10.94%)

Transcript 10-Q8-K

Key Points

Positve

Varex Imaging Corp (VREX) reported third-quarter revenue of $203 million, exceeding the high end of their guidance.
The industrial segment showed continued strength, with a 1% year-over-year increase in revenue.
Non-GAAP gross margin was 34%, surpassing expectations due to higher volume and favorable product sales mix.
The company successfully paid off $200 million in convertible notes, reducing overall debt and simplifying the capital structure.
Sales in China were better than forecasted, with a 4% year-over-year increase, contributing 15% of total revenues.

Negative

Total revenue was down 3% year over year, with the medical segment declining by 4%.
Operating expenses were unusually high at $148 million, primarily due to a non-cash goodwill impairment charge of $94 million.
The company reported an operating loss of $81 million and a net loss of $89 million on a GAAP basis.
Cash equivalents and marketable securities decreased by $73 million from the prior quarter, primarily due to debt repayment.
The fluoroscopy modality sales were below their trend, indicating weaker performance in this area.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VREX.OQ - Varex Imaging Corp
Q3 2025 Varex Imaging Corp Earnings Call
Aug 07, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Varrick 3rd quarter fiscal year 2025 earnings call. At this time, all participants are in listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press 0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Chris Bellfuri.

Thank you. You may begin.

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Unidentified_2 [2]
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Good afternoon and welcome to Verex Corporation's earnings conference call for the 3rd quarter of fiscal

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