Mirion Technologies, Inc. reported a revenue increase of 7.5% for the fiscal year ended December 31, 2024, reaching $860.8 million compared to $800.9 million in 2023. The growth was driven by contributions from both the Medical and Nuclear & Safety segments, with the Medical segment generating $299.7 million and the Nuclear & Safety segment contributing $561.1 million. The company also reported a net loss of $36.6 million, a significant improvement from the $98.7 million loss in the previous year, attributed to increased revenues, reduced amortization expenses, and lower interest expenses.
The company experienced notable operational changes, including the acquisition of ec2 Software Solutions for $33 million, which is expected to enhance its Medical segment offerings. Additionally, Mirion closed its Biodex Rehabilitation business, resulting in a loss on disposal of $6.5 million in 2023. The company also announced the closure of its Middleton, Wisconsin facility, incurring $5 million in restructuring costs. As of December 31, 2024, Mirion's remaining performance obligations stood at $811.9 million, a decrease from $857.1 million in 2023, indicating a potential slowdown in future revenue recognition.
In terms of operational metrics, Mirion's workforce comprised 2,860 employees, with 439 dedicated to research and development, representing approximately 15% of the total workforce. The company reported that its products are utilized in over 95% of nuclear power plants globally and in more than 80% of cancer centers worldwide, highlighting its strong market presence. The company also noted a geographic revenue distribution, with 47% of total revenue coming from North America, 35% from Europe, and 15% from Asia Pacific.
Looking ahead, Mirion Technologies anticipates continued growth driven by increasing demand for its products and services in both the medical and nuclear sectors. The company aims to capitalize on emerging trends in nuclear energy and advancements in medical technology, while also navigating challenges such as inflation, geopolitical tensions, and evolving regulatory environments. The management remains focused on optimizing operational efficiencies and pursuing strategic acquisitions to enhance its market position.
About Mirion Technologies, Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.