<span item_type="fundamental" item_id="153da0e950ba5d413b7eee6b82753c55" counter_id="ST/US/VREX" env="prod"></span><span item_type="announcement" item_id="645839075231990657" env="prod"></span><p>Revenue: As of FY2026 Q2, the actual value is USD 216 M, missing the estimate of USD 216.92 M.</p><p>EPS: As of FY2026 Q2, the actual value is USD -0.19, missing the estimate of USD 0.14.</p><p>EBIT: As of FY2026 Q2, the actual value is USD 31.2 M.</p><p></p><h3>Second Quarter Fiscal Year 2026 (Q2 FY26) Summary</h3><h4>Revenue</h4><p>Varex Imaging Corporation reported total revenues of $216 million for Q2 FY26, representing a 1% increase year-over-year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span> Medical segment revenue was $156 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span> Industrial segment revenue was $60 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></p><h4>Profitability</h4><ul><li>GAAP gross margin was 34%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li><li>Non-GAAP gross margin was 34% in Q2 FY26, down from 36% in Q2 FY25.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li><li>GAAP operating margin was 7%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li><li>Non-GAAP operating margin was 9%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li><li>GAAP gross profit was $72.6 million, compared to $76.7 million in Q2 FY25.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li><li>GAAP operating income was $14.4 million, compared to $22.1 million in Q2 FY25.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li></ul><h4>Net Income / Loss</h4><ul><li>GAAP net loss attributable to Varex Imaging Corporation was - $8.1 million, compared to a net income of $6.9 million in Q2 FY25.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li><li>GAAP net loss was - $0.19 per diluted share.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li><li>Non-GAAP net income was $0.21 per diluted share, a decrease from $0.31 in Q2 FY25.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li></ul><h4>Cash Flow</h4><ul><li>Cash outflows from operations were - $2 million in Q2 FY26.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li></ul><h4>Balance Sheet Highlights</h4><ul><li>Cash, cash equivalents, and marketable securities totaled $88 million at the end of Q2 FY26, down from $155 million at the end of fiscal year 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li><li>Inventories, net, were $346.7 million as of April 3, 2026, compared to $299.4 million at October 3, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li><li>Long-term debt, net, was $329.0 million as of April 3, 2026, compared to $366.0 million at October 3, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></li></ul><h3>Outlook / Guidance</h3><p>Varex Imaging Corporation expects revenue for the second half of fiscal 2026 to be up approximately 3% compared to the second half of fiscal 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span> The company anticipates full fiscal year 2026 revenue to be in the range of $860 million to $880 million, with non-GAAP EPS projected between $0.80 and $1.00.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span> For the third quarter of fiscal year 2026, revenues are expected to be between $210 million and $225 million, and non-GAAP net earnings per diluted share are forecasted to be between $0.15 and $0.30.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681622/000168162226000051/exhibit991-q226earningsrel.htm"></span></p>

Varex Imaging | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 216 M