Mirion Technologies, Inc. (MIR) reported a revenue increase of 7.5% to $925.4 million for the fiscal year ended December 31, 2025, compared to $860.8 million in the previous year. The Nuclear & Safety segment contributed $614.6 million, while the Medical segment accounted for $310.8 million. The company achieved net income of $29.8 million, a significant improvement from the net loss of $36.6 million in 2024. This turnaround was primarily driven by increased revenues in both segments, decreased interest expenses, and a $17.4 million unrealized foreign currency gain.
The Nuclear & Safety segment experienced a revenue increase of $53.5 million, attributed to acquisitions, favorable foreign exchange fluctuations, organic volume growth, and price increases. The Medical segment's revenue rose by $11.1 million due to price increases, recovery from prior operational delays, foreign exchange impacts, and organic volume growth. Income from operations for the Nuclear & Safety segment was $101.1 million, while the Medical segment reported $46.9 million.
Strategic developments for Mirion in 2025 included the acquisitions of Certrec Corporation in July and Paragon Energy Solutions in December. The Certrec acquisition, valued at $82.9 million, is expected to enhance Mirion's regulatory compliance and digital integration solutions for the energy industry. The Paragon acquisition, valued at $588.4 million, is anticipated to provide a more comprehensive suite of product offerings and services to nuclear power customers, particularly in the U.S. market. These acquisitions were funded through a combination of public and private offerings of Class A common stock and convertible senior notes.
Key operational metrics included remaining performance obligations, which increased to $1.104 billion as of December 31, 2025, compared to $811.9 million in the prior year. Approximately 49% of these obligations are expected to be recognized as revenue in 2026. Research and development expenses increased to $38.9 million, representing approximately 16% of the company's workforce. As of December 31, 2025, Mirion employed 3,281 full-time and part-time employees, with operations spanning 12 countries. The company's strategy focuses on exploiting under-penetrated market opportunities, expanding its addressable market through geographic expansion and customer outsourcing, developing new products and services, and continuously improving its cost structure and productivity.
About Mirion Technologies, Inc.
Mirion Technologies is a global provider of radiation detection, measurement, analysis, and monitoring products and services for nuclear, medical, defense, and industrial markets. Its core segments—Nuclear & Safety and Medical—serve nuclear power plants, research labs, hospitals, and government agencies. The company offers hardware, software, and services that ensure radiation safety, support cancer diagnosis and treatment, and enable nuclear energy and security, leveraging extensive expertise and a broad, regulated product portfolio.
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