Filing Flows › Varex Imaging (VREX) › Q3 FY26 › vs Q3 FY25
Varex Imaging (VREX) Q3 FY26 vs Q3 FY25 (year over year)
Varex Imaging's revenue rose $7.5M (+4%) from $203M in Q3 FY25 to $210M in Q3 FY26. The biggest changes: Industrial +$15.6M (+26%); Medical −$8.1M (-6%). Gross margin 36.4% against 33.3% (+3.2 pts).
Varex Imaging, Q3 FY26: revenue $210M (+4% year over year), operating margin 10.8%, net earnings $15.9M, operating cash flow $21.0M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 36.4% | 33.3% | +3.2 pts |
| Operating margin | 10.8% | -39.8% | +50.6 pts |
| Net margin | 7.6% | -43.9% | +51.4 pts |
| Free cash flow margin | 5.7% | 0.7% | +5.0 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Medical | $134M | $142M | −$8.1M | -6% |
| Industrial | $76.5M | $60.9M | $15.6M | +26% |
| Revenue | $210M | $203M | $7.5M | +4% |
| Gross profit | $76.7M | $67.5M | $9.2M | +14% |
| Cost of revenue | $134M | $136M | −$1.7M | -1% |
| Operating profit | $22.8M | −$80.7M | $104M | — |
| Operating expenses | $53.9M | $148M | −$94.3M | -64% |
| Pre-tax earnings | $16.2M | −$86.6M | $103M | — |
| Other expense, net | $6.6M | $5.9M | $700K | +12% |
| Research & development | $23.3M | $21.4M | $1.9M | +9% |
| SG&A | $30.6M | $32.9M | −$2.3M | -7% |
| Net earnings | $15.9M | −$89.1M | $105M | — |
| Income tax | $300K | $2.5M | −$2.2M | -88% |
| Depreciation & amortization | $7.0M | $6.8M | $200K | +3% |
| Share-based compensation | $3.8M | $3.7M | $100K | +3% |
| Working capital & other | $5.7M | −$86.3M | $92.0M | — |
| Operating cash flow | $21.0M | $7.7M | $13.3M | +173% |
| Free cash flow (OCF − capex) | $12.0M | $1.4M | $10.6M | +757% |
| Capital expenditures | $9.0M | $6.3M | $2.7M | +43% |
Questions
How much did Varex Imaging's revenue grow year over year in Q3 FY26?
Varex Imaging's revenue rose $7.5M (+4%) from $203M in Q3 FY25 to $210M in Q3 FY26.
What drove Varex Imaging's revenue change in Q3 FY26?
Industrial +$15.6M (+26%); Medical −$8.1M (-6%).