Varex/$VREX

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About Varex

Varex Imaging Corp designs and manufactures X-ray imaging components. It operates in two segments Medical and Industrial. The Medical segment, which is the key revenue driver, designs, manufactures, sells, and services X-ray imaging components, including X-ray tubes, digital detectors and accessories, generators, and heat exchangers among other products. The Industrial segment designs, manufactures, sells, and services Linatron X-ray accelerators, X-ray tubes, digital flat panel detectors, high-voltage connectors, and coolers. Geographically, the company generates maximum revenue from Europe, Middle East, and Africa (EMEA) and the rest from the Americas and Asia Pacific region.

Ticker

$VREX
Sector
Primary listing

Employees

2,300

Varex Metrics

BasicAdvanced
$492M
-
-$3.22
0.68
-

What the Analysts think about Varex

Analyst ratings (Buy, Hold, Sell) for Varex stock.

Bulls say / Bears say

In Q2 FY25, Varex delivered revenue of $213 million—a 3% year-over-year increase—and non-GAAP EPS of $0.26 that topped Street estimates, while non-GAAP gross margin expanded to 36%, underscoring operational leverage gains (Reuters).
The company secured a $17 million order for its high-energy non-intrusive cargo inspection systems, marking over $55 million in orders year-to-date and highlighting strong demand in its Industrial segment’s security applications (Reuters).
At the end of Q2 FY25, Varex held $226 million in cash, cash equivalents, and marketable securities—excluding restricted cash—and has committed to repaying its $200 million convertible notes due June 2025, a move expected to simplify its capital structure and lower leverage (SEC filing)
The China Ministry of Commerce’s anti-dumping probe into U.S.-made CT X-ray tubes led VREX shares to plunge 16.3%, highlighting the risk that any adverse ruling could disrupt tender processes and sales in a market representing over 12% of its revenue (Reuters).
B. Riley slashed its one-year price target for Varex to $12 (from $22) and maintained a Buy rating, warning that a 125% retaliatory tariff could cut Chinese revenue by roughly two-thirds in the upcoming quarter (GuruFocus).
In Q3 FY25, Varex reported a 3% year-over-year revenue decline to $203 million and a GAAP net loss of $2.15 per share (versus a non-GAAP profit of $0.18), reflecting mounting headwinds from tariffs and an $81 million goodwill impairment charge that drove operating losses (Business Wire)
Data summarised monthly by Lightyear AI. Last updated on 5 Oct 2025.

Varex Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

Varex Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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