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Sep 30
Mirion Q3 2025 Earnings Report
Mirion reported strong third quarter 2025 financial results with increased revenue and significant improvement in GAAP net income.
Key Takeaways
Mirion delivered a strong third quarter in 2025, with total revenue increasing by 7.9% to $223.1 million. The company achieved a GAAP net income of $3.1 million, a substantial improvement from a net loss in the prior year, and adjusted EBITDA grew by 14.7% to $52.4 million. These results were driven by continued momentum in the nuclear power end-market, keeping the company on track for its full-year guidance.
Total revenue increased by 7.9% to $223.1 million in Q3 2025, up from $206.8 million in Q3 2024.
GAAP net income was $3.1 million, a 122% improvement compared to a GAAP net loss of $14.0 million in Q3 2024.
Adjusted EBITDA rose by 14.7% to $52.4 million, compared to $45.7 million in the same period last year.
GAAP earnings per share was $0.01, and Adjusted earnings per share was $0.12, both showing improvements over the previous year.
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CapyFin.com Forward Guidance
Mirion reaffirmed its 2025 guidance for total revenue growth, organic revenue growth, Adjusted EBITDA, and Adjusted EPS, while raising the lower end of its Adjusted Free Cash Flow guidance range.
Positive Outlook
- Reaffirmed total Revenue growth guidance of approximately 7.0% – 9.0%.
- Reaffirmed Organic Revenue growth guidance of approximately 4.5% – 6.0%.
- Reaffirmed Adjusted EBITDA guidance of approximately $223 million – $233 million.
- Reaffirmed Adjusted EPS guidance of approximately $0.48 – $0.52 per share.
- Raised the lower end of Adjusted Free Cash Flow guidance to approximately $100 million – $115 million (previously $95 million - $115 million).
Challenges Ahead
- Adjusted Free Cash Flow guidance includes estimated tariff impacts based on current levels, net of mitigating actions.
- Adjusted Free Cash Flow guidance includes updated fourth quarter foreign exchange rates.
- The guidance does not include any impact from the announced Paragon acquisition.
- Forward-looking non-GAAP financial measures are presented without reconciliations due to inherent difficulties in projecting and quantifying adjusting items.
- Actual results may differ materially from forward-looking statements due to known and unknown uncertainties and risks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income