Mirion Technologies, Inc. (MIR) FY2025 10-K Annual Report
Mirion Technologies, Inc. (MIR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 19, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Mirion Technologies, Inc. FY2025 10-K Analysis
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 revenue or profitability figures disclosed in provided text
- • No segment performance or financial results mentioned
- • No cash flow, buybacks, dividends, or capex data provided
- • 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
Mirion Technologies, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$925M
▲ +7.5% YoY
Net Income
$29M
▲ +179.8% YoY
Gross Margin
47.4%
▲ +96bp YoY
Operating Margin
5.6%
▲ +268bp YoY
Net Margin
3.1%
▲ +731bp YoY
ROE
1.5%
▲ +394bp YoY
Total Assets
$3.6B
▲ +36.1% YoY
EPS (Diluted)
$0.11
▲ +161.1% YoY
Operating Cash Flow
$143M
▲ +44.6% YoY
Source: XBRL data from Mirion Technologies, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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