Short answer
Varex Imaging Corp (VREX) filed its Q1 2026 10-Q quarterly report on Feb 10, 2026 for the quarter ended Jan 2, 2026. Quarterly revenue was $210M (up 4.9% year over year) with net income of $2M.
Q1 2026 key financials · XBRL
- Revenue
- $210M
- +4.9% YoY
- Net income
- $2M
- +866.7% YoY
- Operating margin
- 7.3%
- Gross margin
- 33.3%
- EPS (diluted)
- $0.05
- +600.0% YoY
Source: XBRL data from the Varex Imaging Corp (VREX) Q1 2026 10-Q on SEC EDGAR. USD.
Varex Imaging Corp Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $209.6M, up $9.8M or 4.9% YoY
- Industrial best performer: revenue $64.8M, up 17.4%; gross margin 36.7% vs 34.4%
- Medical revenue $144.8M, up 0.1%; gross margin 31.8% vs 34.2%
- Total gross margin 33.3% vs 34.3%; operating expenses 26.0% vs 28.7% of revenue
- Cash and securities $125.6M, down $29.5M; operating cash flow $(16.1)M vs $9.5M YoY
- Tariffs expected to continue pressuring competitiveness and costs; mitigation efforts unlikely to fully offset impacts
Risk Factors
- China tariff exposure, triggered by 2025 policy changes and MOFCOM investigations; medical X-ray tube imports represented 12% of first-quarter revenue
- Customer concentration, with one customer at 16% of quarterly revenue and the ten largest at 52%
- International-market exposure, with non-U.S. customers generating 69% of quarterly revenue
- Competitive margin pressure, as OEM customers increasingly manufacture X-ray components internally
- VEC legal disputes, potentially requiring purchase of the opposing party’s interest at 75% of fair market value
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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