Filing Flows › Varex Imaging (VREX) › Q1 FY26
Varex Imaging (VREX) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 10, 2026
Varex Imaging (VREX) reported revenue of $210M for the first quarter fiscal 2026 (Q1 FY26), +5% from a year earlier and -8% from the quarter before. Operating margin was 7.3%, net earnings $2.3M (1.1% of revenue).
Varex Imaging, Q1 FY26: revenue $210M (+5% year over year), operating margin 7.3%, net earnings $2.3M, operating cash flow −$16.1M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $210M | -8% | +5% |
| Gross profit | $69.8M | -10% | +2% |
| Operating profit | $15.4M | -21% | +38% |
| Net earnings | $2.3M | -81% | — |
| Operating cash flow | −$16.1M | -304% | — |
What changed
Revenue was $209.6M in Q1 FY26, up 5% year over year and down 8% from the previous quarter. Medical was the largest line at 69% of revenue. Industrial added $9.6M year over year (up 17%), 98% of the total change.
Gross margin was 33.3%, down 1.0 points from a year earlier. Operating profit was $15.4M, a 7.3% margin (up 1.7 points year over year). Of the extra revenue versus a year earlier, 43% reached operating profit, above the 6% margin then. Operating expenses fell 5% while revenue rose 5%. Net earnings were $2.3M. The effective tax rate was 36.8%.
Operating cash flow was −$16.1M. Non-cash charges added back $6.8M of depreciation and amortization and $3.8M of share-based compensation. Working capital and other items used $29.1M. Capital expenditures of $10.7M exceeded it, leaving free cash flow of −$26.8M.
Questions
What was Varex Imaging's revenue in the first quarter fiscal 2026?
Varex Imaging (VREX) reported revenue of $210M for the first quarter fiscal 2026 (Q1 FY26), +5% from a year earlier and -8% from the quarter before.
Was Varex Imaging profitable in the first quarter fiscal 2026?
Operating profit was $15.4M (7.3% of revenue) and net earnings $2.3M.
Source: Varex Imaging 10-Q on SEC EDGAR.