Financial Performance - Revenues for Q4 2025 increased by 9.1% to $277.4 million, compared to $254.3 million in Q4 2024[5] - GAAP net income for Q4 2025 was $17.8 million, an 11.9% improvement from $15.9 million in Q4 2024[5] - Adjusted EBITDA for Q4 2025 was $77.6 million, an 11.5% increase from $69.6 million in Q4 2024[5] - Total revenues for the fiscal year ended December 31, 2025, increased to $925.4 million, up 7.5% from $860.8 million in 2024[21] - Net income attributable to Mirion Technologies, Inc. for the fiscal year 2025 was $28.8 million, a significant recovery from a net loss of $36.1 million in 2024[21] - Adjusted net income for Q4 2025 was $40.1 million, up from $35.9 million in Q4 2024, representing an increase of about 11.7%[39] - Net income attributable to Mirion Technologies, Inc. for Q4 2025 was $17.3 million, an increase from $14.9 million in Q4 2024[39] - The company reported a GAAP net income of $17.8 million for Q4 2025, compared to a loss of $36.6 million for the full year 2024[39] Revenue Growth Projections - Full year 2026 revenue growth is expected to be between 22.0% and 24.0%[4] - Organic revenue growth for 2026 is projected to be between 5.0% and 7.0%[6] - The company booked over $1 billion in orders for 2025, including approximately $150 million from a large opportunity pipeline[3] - Mirion expects meaningful order growth in 2026, including contributions from Paragon Energy Solutions and Certrec[3] Cash Flow and Financial Position - Adjusted Free Cash Flow for 2026 is anticipated to be between $155 million and $175 million[11] - Cash and cash equivalents increased to $412.3 million as of December 31, 2025, compared to $175.2 million at the end of 2024[19] - Operating cash flow for 2025 was $143.3 million, an increase from $99.1 million in 2024[23] - The company issued $755.0 million in convertible senior notes during 2025, contributing to its financing activities[23] Profitability Metrics - Adjusted EBITDA for 2026 is expected to be between $285 million and $300 million, with an EBITDA margin of approximately 25.0% to 26.0%[6] - Gross profit for 2025 was $438.6 million, representing a gross margin of approximately 47.4%, compared to 46.4% in 2024[21] - Adjusted EBITDA margin improved to 28.0% in Q4 2025 from 27.4% in Q4 2024[37] Shareholder Metrics - Adjusted Earnings per Share for 2026 is expected to be between $0.50 and $0.57, now including stock-based compensation[11] - The weighted average common shares outstanding for basic earnings per share increased to 229.959 million in 2025 from 204.991 million in 2024[21] - Adjusted earnings per share (EPS) for Q4 2025 was $0.15, compared to $0.17 in Q4 2024[39] Research and Development - Research and development expenses rose to $38.9 million in 2025, up from $35.0 million in 2024, indicating a focus on innovation[21] Balance Sheet Highlights - Total assets grew to $3,588.1 million in 2025, up from $2,636.0 million in 2024, reflecting a 36.3% increase[19] - Total liabilities increased to $1,671.2 million in 2025, compared to $1,076.9 million in 2024, primarily due to the issuance of convertible debt[19] Other Financial Insights - The company experienced a foreign currency loss of $0.5 million in Q4 2025, compared to a gain of $2.0 million in Q4 2024[39] - Total income from operations for Q4 2025 was $25.5 million, down from $29.0 million in Q4 2024[37] - Adjusted free cash flow conversion was not explicitly stated but is defined as adjusted free cash flow divided by adjusted EBITDA, indicating the company's focus on cash generation[31] - The company’s net leverage ratio is calculated as net debt divided by adjusted EBITDA, providing insight into its financial leverage[33]

Core Viewpoint - Mirion Technologies reported strong financial results for the fourth quarter and full year 2025, with significant order growth and provided optimistic guidance for 2026, reflecting robust market fundamentals and strategic acquisitions [1][2]. Financial Results - For the fiscal year ended December 31, 2025, total revenues reached $925.4 million, up from $860.8 million in 2024, marking a year-over-year increase of approximately 7.0% [3]. - The company reported a net income of $29.8 million for 2025, compared to a net loss of $36.6 million in 2024 [3]. - Adjusted EBITDA for 2025 was approximately $227.9 million, an increase from $203.6 million in 2024, reflecting a margin of about 24.6% [5]. 2026 Guidance - Mirion anticipates adjusted earnings per share (EPS) to be between $0.50 and $0.57, including stock-based compensation [1]. - The company expects adjusted free cash flow to range from $155 million to $175 million, with an adjusted free cash flow conversion rate of approximately 54% to 58% of adjusted EBITDA [1]. - Organic revenue growth is projected to be between 5.0% and 7.0%, while total revenue growth is expected to be between 22.0% and 24.0% [1]. Order Growth and Market Position - In 2025, Mirion booked over $1 billion in orders, including approximately $150 million from a large opportunity pipeline, indicating strong demand across all three Nuclear Power verticals [1][2]. - The company highlighted its expanding nuclear power portfolio and strategic acquisitions, such as Paragon Energy Solutions, as key drivers for future growth [1][2]. Balance Sheet Highlights - As of December 31, 2025, total assets amounted to $3,588.1 million, up from $2,636.0 million in 2024, with significant increases in cash and cash equivalents [3]. - Total liabilities were reported at $1,671.2 million, compared to $1,076.9 million in the previous year, reflecting the impact of acquisitions and operational growth [3]. Cash Flow Analysis - Net cash provided by operating activities for 2025 was $143.3 million, an increase from $99.1 million in 2024 [4]. - The company reported a net cash used in investing activities of $694.6 million, primarily due to acquisitions [4].

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Mirion Technologies, Inc. despite higher revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - Mirion Technologies is expected to report quarterly earnings of $0.16 per share, reflecting a year-over-year decrease of 5.9% [3]. - Revenue projections stand at $281.82 million, indicating a 10.8% increase from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 3.03% over the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4]. - The Most Accurate Estimate for Mirion is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -7.41% [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from consensus estimates, with positive readings being more predictive of earnings beats [9][10]. - Mirion Technologies currently holds a Zacks Rank of 3, complicating predictions of an earnings beat [12]. Historical Performance - In the last reported quarter, Mirion exceeded the expected earnings of $0.11 per share by delivering $0.12, resulting in a surprise of +9.09% [13]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [14]. Industry Context - In the Zacks Technology Services industry, Gen Digital is expected to report earnings of $0.63 per share, reflecting a year-over-year increase of 12.5% [18]. - Gen Digital's revenue is projected at $1.23 billion, up 24.4% from the previous year, with an unchanged consensus EPS estimate but a lower Most Accurate Estimate leading to an Earnings ESP of -0.40% [19][20].

Core Insights - Mirion Technologies, Inc. (NYSE:MIR) is recognized as one of the best stocks to buy for investment, with shares increasing over 73% in the past year as of January 27 [1] - Analysts show strong confidence in MIR, with 89% rating it a Buy and a median price target of $29, indicating an upside potential of nearly 14% [1] - Morgan Stanley has initiated coverage of MIR with an Equal Weight rating and a price target of $29, reflecting optimism about the company's growth prospects in the nuclear power sector [2][3] Company Overview - Mirion Technologies specializes in radiation detection, measurement, analysis, and monitoring products and services, operating through two segments: Medical and Nuclear & Safety [4] - The company's nuclear power solutions are utilized in over 95% of the world's nuclear reactors, while its medical products are present in 80% of cancer centers globally [3] Market Position and Strategy - The recent acquisition of Paragon Energy Solutions enhances Mirion's safety-related offerings for nuclear power plants and strengthens its position in the small modular reactor (SMR) market [3] - Analysts believe that the company will benefit from the increasing global nuclear power generation capacity, driven by the growth of data centers and the rapid adoption of new technologies [3]

Core Insights - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by approximately 200 points on Friday [1] Company Highlights - CG Oncology Inc (NASDAQ:CGON) saw its shares rise by 21.8% to $51.05 after announcing an expedited timeline for topline data from the Phase 3 PIVOT-006 clinical trial, now expected in the first half of 2026 [1][2] - Rich Sparkle Holdings Ltd (NASDAQ:ANPA) surged 113.6% to $51.70 following a $39 million offering of 3 million ordinary shares at $13 per share [3] - NovaBay Pharmaceuticals Inc (NYSE:NBY) increased by 34.4% to $12.81 [3] - Quanterix Corp (NASDAQ:QTRX) gained 29.3% to $8.42 after naming Everett Cunningham as President and CEO, effective January 19 [3] - MoonLake Immunotherapeutics (NASDAQ:MLTX) rose 21.7% to $17.45 after receiving FDA feedback on its clinical evidence strategy for Sonelokimab in Hidradenitis Suppurativa [3] - Enliven Therapeutics Inc (NASDAQ:ELVN) increased by 21.5% to $28.24, sharing positive initial data from its Phase 1b ENABLE trial for ELVN-001 in chronic myeloid leukemia [3] - Aeva Technologies Inc (NASDAQ:AEVA) surged 21.2% to $20.47 [3] - Loandepot Inc (NYSE:LDI) rose 20.1% to $2.93 [3] - ASP Isotopes Inc (NASDAQ:ASPI) increased by 19.7% to $7.71 [3] - Allogene Therapeutics Inc (NASDAQ:ALLO) gained 19.5% to $1.78 [3] - Opendoor Technologies Inc (NASDAQ:OPEN) rose 19.2% to $7.67 following a new housing market proposal by President Donald Trump [3] - Liquidia Corp (NASDAQ:LQDA) jumped 14% to $36.22 after announcing preliminary full-year 2025 YUTREPIA net sales [3] - Vistra Corp (NYSE:VST) gained 13.1% to $170.34 after entering into 20-year power purchase agreements for zero-carbon nuclear energy to support Meta's operations [3] - Oklo Inc (NYSE:OKLO) rose 12.6% to $109.95 after announcing an agreement with Meta for a 1.2 gigawatt power campus [3] - Applied Digital Corp (NASDAQ:APLD) surged 11.8% to $35.72, reporting strong second-quarter results and advanced talks with a new hyperscaler tenant [3] - AST SpaceMobile Inc (NASDAQ:ASTS) gained 10% to $99.65 [3] - SanDisk Corp (NASDAQ:SNDK) increased by 9.6% to $366.93 [3] - Mirion Technologies Inc (NYSE:MIR) rose 9.5% to $26.56 [3] - TTM Technologies Inc (NASDAQ:TTMI) gained 9.1% to $72.94 [3] - SoundHound AI Inc (NASDAQ:SOUN) rose 8.5% to $11.96 [3] - Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) gained 8.3% to $112.64, with B. Riley Securities maintaining a Buy rating and raising the price target from $105 to $128 [3]

Core Insights - TimesSquare Capital Management's "U.S. Small Cap Growth Strategy" reported a gross return of 2.26% and a net return of 2.01% for Q3 2025, significantly underperforming the Russell 2000 Growth Index, which returned 12.19% during the same period [1] - The fund's top five holdings include Mirion Technologies, Inc., which has shown a 44.66% increase in share value over the last 52 weeks [2] Company Overview - Mirion Technologies, Inc. specializes in radiation detection, measurement, analysis, and monitoring products, serving the Medical and Nuclear & Safety segments [2][3] - The company’s nuclear power solutions are utilized in over 95% of the world's nuclear reactors, while its medical products are present in 80% of the world's cancer centers [3] Financial Performance - In Q3 2025, Mirion Technologies reported revenue of $223 million, reflecting a year-over-year increase of nearly 8% [4] - As of January 5, 2026, Mirion's stock closed at $24.65 per share, with a market capitalization of $6.024 billion [2] Strategic Developments - Mirion Technologies recently acquired Paragon Energy Solutions, enhancing its safety-related offerings for nuclear power plants and increasing its relevance in the small modular reactor (SMR) market [3] - The company is not among the top 30 most popular stocks among hedge funds, with 44 hedge fund portfolios holding its shares at the end of Q3 2025, down from 46 in the previous quarter [4]

Company Overview - Mirion Technologies, Inc. is a global leader in radiation detection, monitoring, and safety solutions, with core operations in nuclear energy and medical radiation [2] - The company provides critical instruments and calibration services essential for regulatory compliance and operational safety in nuclear plants, research facilities, defense programs, and hospitals [2] Revenue Model - Approximately 70% of Mirion's revenue is recurring, supported by long-term service contracts that renew automatically over the lifespan of reactors and medical systems, often lasting 40–80 years [3] - The nuclear and safety division accounts for about two-thirds of revenue and is poised to benefit from the global nuclear renaissance, with plans to triple reactor capacity by 2050 [3] Market Position and Growth Potential - Every new build, restart, or extension in the nuclear sector necessitates Mirion's radiation measurement systems, embedding its products in regulatory frameworks globally [4] - The medical division enhances stability by providing essential tools for radiotherapy quality assurance and dosimetry critical to cancer care and diagnostic imaging [4] Financial Outlook - Management targets 6–8% organic growth, approximately 30% EBITDA margins, and leverage below 3× within five years, potentially tripling free cash flow to $200 million [5] - Despite heavy amortization and integration costs obscuring true profitability, Mirion's systemic role in nuclear and medical sectors positions it for a re-rating as investors recognize its durable cash flow and intrinsic stability [5] Investment Thesis - Mirion Technologies is viewed as mispriced, being perceived as a legacy roll-up rather than a maturing compounder with high switching costs and regulatory entrenchment [4] - The company is considered a compelling long-term investment opportunity in the nuclear and medical safety ecosystem, especially as nuclear and medical tailwinds strengthen [5]

Core Insights - Windjammer Capital Investors has completed the sale of Paragon Energy Solutions to Mirion Technologies, indicating a strategic move in the nuclear power solutions sector [1][3]. Company Overview - Paragon Energy Solutions, based in Fort Worth, Texas, specializes in engineered solutions for large-scale nuclear power plants and small modular reactors (SMRs), providing essential products for safe operations in compliance with regulatory standards [2]. Investment Strategy - Since acquiring Paragon in November 2021, Windjammer has focused on strategic priorities such as enhancing sales channels, expanding product offerings, and developing new products for SMRs, which has contributed to significant growth and positioned Paragon for long-term success in the nuclear sector [3][4]. Management Perspective - Windjammer's Managing Director emphasized the partnership-driven investment approach, aligning with Paragon's management to expand its market reach and advance technologies for SMRs, showcasing Paragon's engineering capabilities and commitment to innovation [4][5]. Market Position - Paragon is recognized as a mission-critical and highly technical business, well-positioned to lead in the evolving nuclear solutions industry, capitalizing on the increasing demand for next-generation nuclear technologies [5].

Core Viewpoint - Mirion has successfully completed the acquisition of Paragon Energy Solutions, enhancing its capabilities in the nuclear power industry [1] Group 1: Acquisition Details - The acquisition integrates Paragon's engineering capabilities specifically tailored for the nuclear power sector [1]

Company Overview - JBT Marel (JBTM) is a member of the Business Services group, which consists of 259 companies and currently ranks 5 in the Zacks Sector Rank [2] - JBT Marel has a Zacks Rank of 2 (Buy), indicating a positive outlook based on earnings estimates and revisions [3] Performance Analysis - JBT Marel has gained approximately 9.4% year-to-date, outperforming the Business Services sector, which has returned an average of -12.3% [4] - In comparison, Mirion Technologies, Inc. (MIR) has seen a significant increase of 42.9% year-to-date, also holding a Zacks Rank of 2 (Buy) [4][5] Industry Context - JBT Marel is part of the Technology Services industry, which includes 124 companies and currently ranks 69 in the Zacks Industry Rank [6] - The Technology Services industry has an average gain of 11.5% year-to-date, indicating that JBT Marel is slightly underperforming its industry [6] Analyst Sentiment - The Zacks Consensus Estimate for JBT Marel's full-year earnings has increased by 7.8% over the past quarter, reflecting improved analyst sentiment and a stronger earnings outlook [3]