Short answer
Mirion Technologies, Inc. (MIR) filed its fiscal 2025 10-K annual report with the SEC on Feb 19, 2026. It reported revenue of $925M (+7.5% year over year) and net income of $29M.
- Top risk flagged: Regulatory risk from OECD Pillar Two global minimum tax effective 2025, potentially impacting cash taxes and effective tax rate
FY2025 key financial metrics · XBRL
- Revenue
- $925M
- +7.5% YoY
- Net income
- $29M
- +179.8% YoY
- Operating margin
- 5.6%
- +2.7 pp YoY
- Gross margin
- 47.4%
- +1.0 pp YoY
- EPS (diluted)
- $0.11
- +161.1% YoY
- ROE
- 1.5%
- +3.9 pp YoY
- Operating cash flow
- $143M
- +44.6% YoY
Source: XBRL data from the Mirion Technologies, Inc. (MIR) FY2025 10-K on SEC EDGAR. USD.
Mirion Technologies, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: global provider of radiation detection, measurement, analysis, and safety solutions for nuclear power and medical markets
- New emphasis on digital-forward solutions with Vital Platform launch and integration of Paragon HIPS and ec2 software suites in 2025
- Strategic shift includes expansion into regulatory compliance and broader energy power markets via 2025 acquisitions of Certrec and Paragon
- Notable metric: R&D and engineering staff total 534, with ~150 new engineers/technicians from Paragon acquisition in 2025
- Unique 2025 collaboration agreement with International Atomic Energy Agency (IAEA) for radiation detection and measurement cooperation
Management Discussion & Analysis
- No segment performance or financial results mentioned
- Forward-looking risks: geopolitical, government budgets, supply chain, IT security, AI use, and tax laws detailed
- No explicit guidance or outlook given, focus on potential risks and uncertainties affecting future performance
Risk Factors
- Regulatory risk from OECD Pillar Two global minimum tax effective 2025, potentially impacting cash taxes and effective tax rate
- Geopolitical exposure with $103.2M backlog, $15.8M receivables, and $13M guarantees tied to Russian projects amid sanctions and Ukraine conflict
- Operational risk from fixed-price nuclear new build contracts with $1.1B remaining performance obligations, vulnerable to cost underestimation and inflation
- Competitive risk from Paragon acquisition ($588.4M) enhancing presence against US nuclear power market entrants and small modular reactor developers
- Financial risk from increased debt service costs after $400M 0.25% convertible notes issuance and $244.6M term loan repayment extending maturity to 2032
Generated from the filing text; verify against the original. How to read a 10-K
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