📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Mirion Technologies, Inc. provides radiation detection, measurement, analysis, and monitoring products and services in North America, Europe, and the Asia Pacific. It operates in two segments, Medical, and Nuclear & Safety. The Medical segment offers radiation oncology quality assurance and dosimetry solutions; patient safety solutions for diagnostic imaging and radiation therapy centers; radiation therapy quality assurance solutions for calibrating and verifying imaging and treatment accuracy; and radionuclide therapy products for nuclear medicine applications, such as product handling, medical imaging furniture, and rehabilitation products. This segment improves the quality and safety of cancer care delivery; and supports applications across medical diagnostics and practitioner safety. The Nuclear & Safety segment focuses on addressing critical radiation safety, measurement, and analysis applications; and provides personal radiation detection, identification equipment, and analysis tools. The company also offers include radiation measurement and monitoring solutions, reactor instrumentation and control detectors, imaging systems and cameras, and waste management systems; laboratory and scientific analysis systems comprising gamma/alpha spectroscopy, alpha/beta counting, specialty detectors, and spectroscopy software; radiation measurement and health physics instrumentation; and contamination and clearance monitors. It serves hospitals, clinics and urgent care facilities, dental and veterinary offices, radiation treatment facilities, OEMs for radiation therapy, laboratories, military organizations, government agencies, industrial companies, power and utility companies, reactor design firms, and NPPs. The company was formerly known as Global Monitoring Systems, Inc. and changed its name to Mirion Technologies, Inc. in January 2006. Mirion Technologies, Inc. was incorporated in 2005 and is headquartered in Atlanta, Georgia.

Key Ratios Snapshot

📈 Growth Pattern

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⭐ Superinvestors Holding MIR

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	174.3K	$3.2M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management used specific forward-looking numbers (raised revenue growth to 7%-9%, adjusted EBITDA to $223M-$233M) and cited concrete achievements like $9M year-to-date SMR orders, $350M pipeline, and the Certrec acquisition. Language such as 'bullish outlook for the second half' and 'continued progress on key objectives' reinforces a specific, self-assured tone.

Q3 2025

Confident Specific

Management repeatedly used phrases like 'strong third quarter', 'double-digit growth from nuclear power', 'remain on track for 2025 guidance', and 'extremely well positioned'. They provided granular data on SMR orders, large pipeline, and margin drivers, avoiding vague language.

Q4 2025

Confident Specific

Management used specific figures (e.g., record $1B orders, 11% nuclear power growth, 90bps margin expansion) and repeatedly emphasized strong momentum, constructive macro conditions, and clear 2026 guidance targets.

Q1 2026 latest

Confident Specific

Management repeatedly uses phrases like 'strong start', 'significant order generation', 'compounding momentum', and 'high conviction'. They provide specific numbers (19% organic order growth, $50M large opportunity wins, $35M April SMR order) and detailed descriptions of market dynamics and synergy progress, avoiding vague language.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. Order momentum and backlog expansion confirm that nuclear power tailwinds are accelerating and materializing into tangible wins, particularly through Paragon. The early success of commercial synergies (e.g., joint customer engagements leading to orders) supports the revenue synergy thesis. However, margin dilution from M&A and mix shifts in the near term, along with uncertainty on the pace of backlog conversion to revenue, are watch items. Next quarter, focus on order growth sustainability (especially the large SMR pipeline), margin progression in legacy N&S, and medical segment recovery, particularly in RTQA.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Mirion Q1 orders surge 42% to $288M, backlog hits $1.1B on nuclear momentum

Revenue & Profitability

First quarter 2026 revenue grew 28% year-over-year to $258 million, with organic growth of 3%. Adjusted EBITDA was $54 million, up 16% from the prior year, and adjusted EPS was $0.10. Total orders reached $288 million, a 42% increase including M&A, or 19% organic. Backlog expanded to $1.1 billion, up 38% including M&A. The company used $16 million for share repurchases and generated $11 million in adjusted free cash flow.

Outlook

Management sees generational tailwinds from nuclear power, driven by the need for secure baseload energy, AI-driven electricity demand, and geopolitical shifts. The DOE's UPRISE initiative aims to boost U.S. nuclear capacity by 2.5–5 GW by 2029, and utilities have committed $1.4 trillion in capex through 2030. The installed base is shifting from shutdown to 100-year operating cycles, accelerating reinvestment. SMR activity is also rising.

Growth Drivers

Key growth drivers include nuclear power orders (up 15% organic in Q1, excluding M&A), SMR-related orders ($15 million in Q1 plus $35 million in April), and Paragon's 45% revenue growth. In Medical, the RTQA end market posted double-digit organic revenue growth driven by a large Varian camera order, and nuclear medicine is on track for double-digit organic growth in 2026. Digital dosimetry offerings are gaining traction in nuclear power accounts.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Q1 adjusted EBITDA margins contracted to 20.9% (from 23.5% in Q1 2025) due to M&A dilution and mix shifts. Nuclear & Safety margins fell, while Medical margins expanded. Management expects legacy business margins to improve over the next three quarters, with Paragon margins in the low 20s. Full-year 2026 adjusted EBITDA margin guidance remains at 25-26%, with a path to 30% by 2028 via volume absorption and self-help initiatives.

Key Risks

Risks flagged include the lumpiness of defense and project cash flows, timing of large order conversion to revenue, margin dilution from M&A, headwinds in Asian medical markets (especially Japan), and tariffs affecting shipments to China. Labor constraints in nuclear power are also noted, though Certrec's software helps address that. The first quarter had a tougher comp in nuclear power revenue.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-29

Q2 2026 delivered strong order growth, expanding backlog, and higher adjusted EBITDA margins, driven by nuclear power momentum and large wins. Full-year guidance is maintained, with accelerating organic growth and margin expansion expected in the second half, supported by robust backlog and AI-driven innovation.

Q1 2026 Q1 2026 2026-04-29

Orders and backlog surged on strong nuclear and medical segment growth, with Paragon and Certrec acquisitions driving early synergies. Revenue and adjusted EBITDA rose year-over-year, and guidance remains confident for 2026, with margin expansion and robust nuclear demand expected.

Q4 2025 Q4 2025 2026-02-11

Record orders and strong growth in nuclear power and medicine drove 2025 results, with revenue up 7.5% and Adjusted EBITDA up 12%. 2026 guidance calls for 22%-24% revenue growth, margin expansion, and robust free cash flow, supported by recent acquisitions and a growing project pipeline.

Q3 2025 Q3 2025 2025-10-29

Q3 revenue grew 8% year-over-year, led by strong nuclear power and medical segment performance. Adjusted EBITDA rose 15%, and free cash flow guidance was raised. Acquisitions and robust order growth position the business for continued momentum.

Q2 2025 Q2 2025 2025-08-01

Q2 2025 delivered strong revenue and EBITDA growth, driven by both nuclear and medical segments, with raised full-year guidance reflecting robust nuclear power demand and successful M&A. The Certrec acquisition and new digital platforms position the company for continued growth.

📊 Analysis Methodology

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