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Mirion (MIR) investor relations material
Mirion Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue reached $223.1 million, up 7.9% year-over-year, with organic growth of 4.7% and GAAP net income of $3.1 million versus a net loss in the prior year.
Adjusted EBITDA rose 14.7% to $52.4 million, with margin expansion in both nuclear and medical segments.
Nuclear power end market drove performance, with 9% organic revenue growth in Q3 and 11% year-to-date, and 21% increase in adjusted orders.
Medical segment delivered 5.9% revenue growth, with strong dosimetry services and margin expansion.
Backlog remained strong at $808.0 million as of September 30, 2025, with robust order momentum and a large opportunity pipeline.
Financial highlights
Gross profit for Q3 2025 was $104.5 million, up from $92.9 million year-over-year.
Adjusted EBITDA: $52.4 million (+14.7% vs. Q3'24); margin: 23.5% (up from 22.1%).
Adjusted EPS was $0.12–$0.15, up from $0.08 in Q3 2024.
Adjusted free cash flow was $18 million in Q3 and $53 million year-to-date, with 35% YTD conversion.
Cash and cash equivalents at September 30, 2025, were $933.6 million.
Outlook and guidance
2025 revenue growth expected at 7.0%–9.0%, with organic growth of 4.5%–6.0%.
Adjusted EBITDA guidance is $223–$233 million (margin 24.0%–25.0%).
Adjusted free cash flow guidance raised to $100–$115 million, with conversion of 45%–49% of adjusted EBITDA.
Adjusted EPS guidance is $0.48–$0.52 per share.
Guidance excludes impact from the pending Paragon acquisition.
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