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Jun 30
Mirion Q2 2025 Earnings Report
Mirion reported increased revenue, net income, and adjusted EPS in Q2 2025, demonstrating continued progress towards financial targets and strong market positioning.
Key Takeaways
Mirion delivered a strong second quarter in 2025, with revenue increasing by 7.6% to $222.9 million and a significant improvement in GAAP net income to $8.5 million from a loss of $12.0 million in the prior year. Adjusted EBITDA also saw a healthy increase to $51.2 million, and adjusted EPS rose to $0.11, reflecting effective strategic positioning and operational performance.
Revenue increased by 7.6% to $222.9 million in Q2 2025, up from $207.1 million in Q2 2024.
GAAP net income improved significantly to $8.5 million in Q2 2025, compared to a net loss of $12.0 million in Q2 2024.
Adjusted EBITDA grew by 4.9% to $51.2 million in Q2 2025, from $48.8 million in the same period last year.
Adjusted earnings per share increased to $0.11 in Q2 2025, up from $0.10 in Q2 2024.
Mirion
Mirion
Mirion Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService Revenue
CapyFin.com Forward Guidance
Mirion has increased its full-year 2025 guidance for total revenue growth, Adjusted EBITDA, Adjusted Free Cash Flow, and Adjusted EPS, while revising Organic Revenue growth guidance.
Positive Outlook
- Total Revenue growth guidance increased to approximately 7.0% – 9.0% (previously 5.0% – 7.0%).
- Adjusted EBITDA guidance raised to approximately $223 million – $233 million (previously $215 million - $230 million).
- Adjusted Free Cash Flow guidance increased to approximately $95 million – $115 million (previously $85 million - $110 million).
- Adjusted Free Cash Flow Conversion guidance improved to approximately 43% – 49% of Adjusted EBITDA (previously 39% – 48%).
- Adjusted EPS guidance raised to approximately $0.48 – $0.52 per share (previously $0.45 – $0.50 per share).
Challenges Ahead
- Organic Revenue growth guidance revised to approximately 5.0% – 7.0% (previously 5.5% – 7.5%).
- Adjusted EBITDA margin range tightened to approximately 24.0% – 25.0% (previously 24.0% – 25.5%).
- Reductions to Labs & Research and Dosimetry end-markets expectations partially offset increased Nuclear Power end-market growth.
- Guidance includes estimated tariff impacts based on current levels, net of mitigating actions.
- Forward-looking non-GAAP financial measures are presented without reconciliations due to inherent difficulties in projecting and quantifying adjusting items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income