Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Segment Reporting Information, by Segment

The following tables summarize information about revenue, significant segment expenses, other segment items, and segment income (loss) from operations for each reportable segment (in millions). Reconciliation of consolidated segment income (loss) from operations to consolidated income (loss) before income taxes is shown in the Total column of each table.


	Three Months Ended June 30, 2025
	Medical		Nuclear & Safety		Total

Revenues	$	81.2	$	141.7	$	222.9
Less:
Adjusted cost of revenues (1)	29.6		77.8		107.4
Other segment items (2)	40.7		44.9		85.6
Segment income from operations	$	10.9	$	19.0	$	29.9
Other loss (3)					(20.0)
Income from operations					9.9
Less other expense (income):
Interest expense					11.8
Interest income					(2.0)
Loss on debt extinguishment					5.8
Foreign currency gain, net					(13.5)
Other income, net					—
Consolidated income before income taxes					$	7.8


	Three Months Ended June 30, 2024
	Medical		Nuclear & Safety		Total

Revenues	$	73.2	$	133.9	$	207.1
Less:
Adjusted cost of revenues (1)	26.2		70.8		97.0
Other segment items (2)	42.0		44.6		86.6
Segment income from operations	$	5.0	$	18.5	$	23.5
Other loss (3)					(21.2)
Income from operations					2.3
Less other expense (income):
Interest expense					15.1
Interest income					(2.0)
Foreign currency gain, net					0.3
Decrease in fair value warrant liabilities					(0.4)
Other income, net					0.6
Consolidated loss before income taxes					$	(11.3)


	Six Months Ended June 30, 2025
	Medical		Nuclear & Safety		Total

Revenues	$	149.8	$	275.1	$	424.9
Less:
Adjusted cost of revenues (1)	54.1		147.0		201.1
Other segment items (2)	78.1		87.4		165.5
Segment income from operations	$	17.6	$	40.7	$	58.3
Other loss (3)					(39.7)
Income from operations					18.6
Less other expense (income):
Interest expense					24.3
Interest income					(3.9)
Loss on debt extinguishment					5.8
Foreign currency gain, net					(16.3)
Other income, net					0.3
Consolidated income before income taxes					$	8.4


	Six Months Ended June 30, 2024
	Medical		Nuclear & Safety		Total

Revenues	$	140.0	$	259.7	$	399.7
Less:
Adjusted cost of revenues (1)	51.7		138.7		190.4
Other segment items (2)	81.9		89.9		171.8
Segment income from operations	$	6.4	$	31.1	$	37.5
Other loss (3)					(40.1)
Loss from operations					(2.6)
Less other expense (income):
Interest expense					30.6
Interest income					(3.7)
Foreign currency loss, net					1.1
Increase in fair value warrant liabilities					5.3
Other income, net					0.7
Consolidated loss before income taxes					$	(36.6)

(1) Adjusted cost of revenues is a significant expense category, and amounts align with the segment-level information that is regularly provided to the CODM. Adjusted cost of revenues is defined by management as cost of revenues adjusted for purchase accounting impacts and excluding depreciation, amortization, and other segment expenses identified as non-operating by management.

(2) Other segment items included in segment income (loss) from operations for each segment include research and development expenses; selling and marketing expenses; general and administrative expenses; and any amounts excluded from cost of revenues to determine adjusted costs of revenues (e.g., depreciation, amortization, and other segment expenses identified as non-operating by management).

(3)Other loss consists of research and development expenses; selling and marketing expenses; and general and administrative expenses not allocated to the segments.

The following table summarizes capital expenditures and depreciation and amortization for each reportable segment (in millions).


	Three Months Ended June 30, 2025		Three Months Ended June 30, 2024		Six Months Ended June 30, 2025		Six Months Ended June 30, 2024
Capital expenditures
Medical	$	3.8	$	6.8	$	8.5	$	15.3
Nuclear & Safety	4.8		3.9		8.3		7.6
Total operating and reportable segments	8.6		10.7		16.8		22.9
Corporate and other	0.8		0.6		1.2		0.7
Total capital expenditures	$	9.4	$	11.3	$	18.0	$	23.6
Depreciation and amortization
Medical	$	16.3	$	18.6	$	32.7	$	37.1
Nuclear & Safety	17.3		19.8		34.2		39.9
Total operating and reportable segments	33.6		38.4		66.9		77.0
Corporate and other	0.3		0.1		0.6		0.2
Total depreciation and amortization	$	33.9	$	38.5	$	67.5	$	77.2

Schedule of Revenue from External Customers by Geographic Areas

The following details revenues by geographic region. Revenues generated from external customers are attributed to geographic regions through sales from site locations (i.e., point of origin) (in millions).


	Revenues
	Three Months Ended June 30, 2025		Three Months Ended June 30, 2024		Six Months Ended June 30, 2025		Six Months Ended June 30, 2024
North America
Medical	$	72.8	$	66.2	$	134.8	$	126.6
Nuclear & Safety	66.1		62.6		134.9		121.2
Total North America	138.9		128.8		269.7		247.8
Europe
Medical	8.4		7.0		15.0		13.4
Nuclear & Safety	73.4		70.1		132.2		131.5
Total Europe	81.8		77.1		147.2		144.9
Asia Pacific
Medical	—		—		—		—
Nuclear & Safety	2.2		1.2		8.0		7.0
Total Asia Pacific	2.2		1.2		8.0		7.0
Total Revenues	$	222.9	$	207.1	$	424.9	$	399.7

Schedule of Revenue from External Customers by Products and Services

The following details revenues by product for each segment (in millions). The Company updated the categorization of its products to better align with the markets driving demand. The revenues by product information has been recast for all prior periods presented.


	Revenues
	Three Months Ended June 30, 2025		Three Months Ended June 30, 2024		Six Months Ended June 30, 2025		Six Months Ended June 30, 2024
Medical segment:
Cancer care	$	62.2	$	56.0	$	111.1	$	105.0
Other	19.0		17.2		38.7		35.0
Nuclear & Safety segment:
Nuclear	82.1		76.0		166.3		147.5
Labs and research	27.4		26.7		54.2		59.7
Other	32.2		31.2		54.6		52.5
Total Revenues	$	222.9	$	207.1	$	424.9	$	399.7

Schedule of Revenue by Timing of Recognition

The following details revenues by timing of recognition (in millions):


	Revenues
	Three Months Ended June 30, 2025		Three Months Ended June 30, 2024		Six Months Ended June 30, 2025		Six Months Ended June 30, 2024
Point in time	$	152.4	$	150.6	$	282.3	$	277.5
Over time	70.5		56.5		142.6		122.2
Total revenues	$	222.9	$	207.1	$	424.9	$	399.7

Schedule of Property, Plant, and Equipment by Geographical Areas

The following details property, plant, and equipment, net, by geography (in millions):


	Property, Plant, and Equipment, Net
	June 30, 2025		December 31, 2024
North America	$	92.1	$	91.5
Europe	60.9		54.7
Asia Pacific	0.1		0.1
Total	$	153.1	$	146.3

Mirion Technologies, Inc. 10-Q