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Mar 31, 2025
Mirion Q1 2025 Earnings Report
Reported revenues of $202.0 million and GAAP net income of $0.4 million for the first quarter ended March 31, 2025.
Key Takeaways
Mirion delivered a strong start to the year with revenue growth and positive GAAP net income in the first quarter of 2025, compared to a net loss in the same period last year. Adjusted EBITDA and Adjusted EPS also saw significant increases. The company reaffirmed key aspects of its full-year guidance despite potential headwinds from tariffs and government funding reductions.
Revenues increased by 4.9% to $202.0 million in Q1 2025 compared to $192.6 million in Q1 2024.
GAAP net income was $0.4 million in Q1 2025, a significant improvement from a GAAP net loss of $26.5 million in Q1 2024.
Adjusted EBITDA grew 18% to $46.7 million in Q1 2025 from $39.5 million in Q1 2024.
Adjusted EPS increased to $0.10 in Q1 2025 from $0.06 in Q1 2024.
Forward Guidance
Mirion reaffirmed its 2025 guidance for Organic Revenue growth, Adjusted EBITDA, Adjusted EPS, and Adjusted Free Cash Flow. Total revenue growth and the corresponding Adjusted EBITDA margin guidance were revised to reflect estimated tariff impacts and updated foreign exchange rates.
Positive Outlook
- Reaffirmed 2025 Organic Revenue growth guidance of approximately 5.5% – 7.5%.
- Reaffirmed 2025 Adjusted EBITDA guidance of approximately $215 million – $230 million.
- Reaffirmed 2025 Adjusted EPS guidance of approximately $0.45 – $0.50 per share.
- Reaffirmed 2025 Adjusted Free Cash Flow guidance of approximately $85 million – $110 million.
- Confident in their value creation strategy and resilient business model.
Challenges Ahead
- Revised total revenue growth guidance to approximately 5.0% – 7.0% (previously 4.0% – 6.0%) due to foreign exchange headwinds.
- Revised Adjusted EBITDA margin guidance to approximately 24.0% – 25.5% (previously 24.5% – 25.5%) due to estimated tariff impacts.
Historical Earnings Impact
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