10-Q - Mirion Technologies, Inc. (0001809987) (Filer)

Wed, Oct 30, 8:45 PM (250 days ago)

Mirion Technologies, Inc. (MIR) reported a revenue increase to $206.8 million for Q3 2024, up from $191.2 million in Q3 2023, driven by growth in both its Medical and Technologies segments. Gross profit rose to $92.9 million, reflecting improved margins despite rising costs. The net loss was $14.0 million, slightly higher than the $12.9 million loss in the prior year, impacted by increased restructuring costs and higher provisions for income taxes. Cash flow from operations improved to $38.3 million, aided by a decrease in net loss and favorable changes in working capital. The company’s backlog stood at $814.9 million, down from $857.1 million at year-end 2023, influenced by contract modifications. The financial position remains stable with $133.7 million in cash and equivalents. Challenges include inflationary pressures, geopolitical risks, and potential impacts from sanctions related to the Russia-Ukraine conflict. Overall, Mirion continues to focus on strategic acquisitions and operational efficiencies to enhance future performance.