Filing Flows › Varex Imaging (VREX) › Q2 FY26
Varex Imaging (VREX) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 7, 2026
Varex Imaging (VREX) reported revenue of $216M for the second quarter fiscal 2026 (Q2 FY26), +1% from a year earlier and +3% from the quarter before. Operating margin was 6.7%, net loss $8.0M (3.7% of revenue).
Varex Imaging, Q2 FY26: revenue $216M (+2% year over year), operating margin 6.7%, net loss $8.0M, operating cash flow −$1.5M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $216M | +3% | +1% |
| Operating profit | $14.4M | -6% | -35% |
| Net earnings | −$8.0M | -448% | -216% |
| Operating cash flow | −$1.5M | — | -109% |
What changed
Revenue was $216.0M in Q2 FY26, up 1% year over year and up 3% from the previous quarter. Medical was the largest line at 72% of revenue. Medical added $2.4M year over year (up 2%), 77% of the total change.
Gross margin was 33.6%, down 2.4 points from Q2 FY25. Operating profit was $14.4M, a 6.7% margin (down 3.7 points year over year). Operating profit fell $7.7M even though revenue rose $3.1M versus Q2 FY25, so costs grew faster than sales. Operating expenses grew 7% against revenue growth of 1%. The fastest-growing cost line was SG&A (+10%). The quarter ended with a net loss of $8.0M, after a profit of $2.4M the previous quarter. Net interest and other expense of $20.8M was the main reason.
Operating cash flow was −$1.5M. Non-cash charges added back $6.8M of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items used $4.3M. Capital expenditures of $6.2M exceeded it, leaving free cash flow of −$7.7M.
Questions
What was Varex Imaging's revenue in the second quarter fiscal 2026?
Varex Imaging (VREX) reported revenue of $216M for the second quarter fiscal 2026 (Q2 FY26), +1% from a year earlier and +3% from the quarter before.
Was Varex Imaging profitable in the second quarter fiscal 2026?
Operating profit was $14.4M (6.7% of revenue) and net loss $8.0M.
Source: Varex Imaging 10-Q on SEC EDGAR.