Mirion Technologies, Inc.
mirion.comWhat Do They Do?
Sells radiation detection and monitoring equipment, software and services to nuclear operators and public and research organizations. It also supplies cancer-care and radiation-safety systems to medical providers.
10-K for FY2025, filed Feb 19, 2026Mirion is comprised of two reporting segments: Nuclear & Safety (formerly named Technologies) and Medical. Our Nuclear & Safety segment…View ↗
Nuclear Power: Our radiation monitoring systems enable the safe utilization of nuclear energy in nuclear power plants, nuclear research…View ↗
Labs & Research: Our high-precision instruments and software help research labs in the public and private sectors advance knowledge and…View ↗
Defense & Diversifieds: Our technologies safeguard nuclear materials to protect people and the environment through various radiation…View ↗
Our medical market is comprised of rapidly growing product applications for the safe diagnosis and treatment of cancer and occupational…View ↗
Dosimetry Services: Radiation dosimetry in the fields of health physics and radiation protection is the measurement, calculation and…View ↗
How Do They Make Money?
Customers buy equipment, usually with payment tied to delivery; longer contracts may be billed at milestones. They also buy support, installation and radiation-monitoring services over time, with dosimetry arrangements recurring monthly, quarterly or annually and many paid in advance.
10-K for FY2025, filed Feb 19, 2026If a performance obligation does not qualify for over-time revenue recognition, revenue is then recognized at the point-in-time in which…View ↗
Revenue earned in excess of billings on contracts in progress (contract assets) are classified in the consolidated balance sheet in costs…View ↗
Service revenues (service-type warranty, post contract support, installation, and subscription-based services) are recognized over time as…View ↗
Revenue derived from passive dosimetry and analytical services is of a subscription nature and is provided to customers on an agreed-upon…View ↗
Deferred contract revenue also includes prepayments from customers, including milestone or installment payments, on projects for which…View ↗
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10-K for FY2025, filed Feb 19, 2026
FY2025 revenue by product or service ↗
$925.4M
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10-K for FY2025, filed Feb 19, 2026
$925.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product
Sold outright
10-K for FY2025, filed Feb 19, 2026 |
75%
FY2022: 74%
|
Product, FY2025
$690.6M Sources
|
Sold outright |
|
Service
Recurring
10-K for FY2025, filed Feb 19, 2026 |
25%
FY2022: 26%
|
Service, FY2025
$234.8M Sources
|
Recurring |
Who Are Their Customers?
Nuclear operators, medical providers, and government, research and industrial organizations buy directly or through sales representatives and distributors; distributors serve buyers seeking a local seller or smaller orders.
10-K for FY2025, filed Feb 19, 2026Our principal customers include power and utility companies, reactor design firms, NPPs, hospitals, clinics and urgent care facilities…View ↗
We sell our products and services through our direct sales organization and indirectly through our global network of independent…View ↗
We derive a portion of our revenue from sales of our products and services through channel partners, such as independent sales…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 12 cents into free cash flow.
10-K for FY2025, filed Feb 19, 2026
$51.5MView ↗
10-K for FY2025, filed Feb 19, 2026
$28.8MView ↗
10-K for FY2025, filed Feb 19, 2026
$106.9MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Jul 29, 2026
Open tableView ↗
Growing. Revenue grew 51% in 4 years, from $611.6M in FY2020 to $925.4M in FY2025, about 11% a year.
Added nuclear regulatory tools
The earlier report describes industrial products for nuclear safety, defense and laboratories; the latest adds regulatory-compliance and digital tools for the nuclear industry through Certrec.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 19, 2026We have two reportable business segments: Medical and Industrial. Our Medical segment supports applications in medical diagnostics, cancer…View ↗
Expanded radiopharmaceutical work
The earlier report describes products spanning radiopharmaceutical production through patient administration; the latest describes working with drug manufacturers to support workflows through clinical use.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 19, 2026Nuclear medicine is a medical specialty that uses radiopharmaceuticals to diagnose, monitor, and treat disease. Our products address the…View ↗
Develop new products and services. We believe that significant near-term opportunities exist for us to develop new products and services by…View ↗
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