Filing Flows › Mirion Technologies (MIR) › Q1 2026
Mirion Technologies (MIR) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
Mirion Technologies (MIR) reported revenue of $258M for the first quarter 2026 (Q1 2026), +28% from a year earlier and -7% from the quarter before. Operating margin was 1.4%, net loss $3.4M (1.3% of revenue).
Mirion Technologies, Q1 2026: revenue $258M (+28% year over year), operating margin 1.4%, net loss $3.4M, operating cash flow $18.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $258M | -7% | +28% |
| Operating profit | $3.7M | -85% | -57% |
| Net earnings | −$3.4M | -120% | -1233% |
| Operating cash flow | $18.9M | -74% | -47% |
| Free cash flow | $9.4M | -85% | -65% |
What changed
Revenue was $257.6M in Q1 2026, up 28% year over year and down 7% from the previous quarter. Product was the largest line at 76% of revenue. Product added $49.1M year over year (up 33%), 88% of the total change.
Gross margin was 46.2%, down 1.3 points from Q1 2025. Operating profit was $3.7M, a 1.4% margin (down 2.9 points year over year). Operating profit fell $5.0M even though revenue rose $55.6M versus Q1 2025, so costs grew faster than sales. Operating expenses grew 32% against revenue growth of 28%. The fastest-growing cost line was SG&A (+34%). The quarter ended with a net loss of $3.4M, after a profit of $17.8M the previous quarter. Net interest and other expense of $8.9M was the main reason.
Operating cash flow was $18.9M (down 47% year over year). Non-cash charges added back $40.8M of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items used $22.8M. Capital expenditures of $9.5M left free cash flow of $9.4M.
Questions
What was Mirion Technologies' revenue in the first quarter 2026?
Mirion Technologies (MIR) reported revenue of $258M for the first quarter 2026 (Q1 2026), +28% from a year earlier and -7% from the quarter before.
Was Mirion Technologies profitable in the first quarter 2026?
Operating profit was $3.7M (1.4% of revenue) and net loss $3.4M.