UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (770) 432-2744 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File ...

Financial Data and Key Metrics Changes - The company reported $29 million of adjusted free cash flow, representing a 62% conversion of adjusted EBITDA [6] - First quarter orders grew by 11.5%, primarily driven by nuclear power orders, marking the best first quarter performance since going public [6][10] - Adjusted EBITDA totaled $47 million, an 18.2% increase year-over-year, with margins improving by 260 basis points to 23.1% [8][23] - Adjusted EPS increased by 67% to $0.10 per share compared to $0.06 in Q1 2024 [9][24] Business Line Data and Key Metrics Changes - Organic revenue grew by 6% year-over-year, with significant contributions from the nuclear power end market [8][22] - The Nuclear Safety segment saw first quarter revenue of $133.4 million, a 6% increase, with organic revenue up 7.6% [24] - The Medical segment reported first quarter revenue of $68.6 million, a 2.7% increase, with organic revenue growth of 3% [27][29] Market Data and Key Metrics Changes - The nuclear power market is expected to see high single-digit growth for the full year, driven by the existing installed base [25][70] - The company noted that 79% of the year-over-year nuclear power order growth came from the existing nuclear fleet [15][66] - The 2024 National Nuclear Energy Public Opinion Survey indicated that over 75% of Americans support the use of nuclear energy, reflecting growing public and political support [12] Company Strategy and Development Direction - The company aims for adjusted EBITDA margins of 30% by 2028, supported by operating leverage and procurement savings [8][15] - The acquisition of OncoSpace, a cloud-native data analytics platform, is expected to enhance the company's cancer care portfolio and go-to-market strategy [6][7] - The company is maintaining a disciplined approach to M&A activity amid uncertain market dynamics [7][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the prospects for large one-time opportunities in the pipeline, estimated at $300 to $400 million [10][20] - The company is well-positioned to navigate the current economic environment, with over 70% of revenue being recurring or repeat in nature [14][19] - Management reaffirmed full-year guidance for organic revenue growth, adjusted EBITDA, adjusted EPS, and adjusted free cash flow [20][32] Other Important Information - The company repurchased 1.2 million shares for $18.6 million as part of its capital deployment strategy [9][31] - The expected tariff exposure for 2025 is estimated to be between $3 million tailwind and $8 million headwind, with mitigating actions in place [19][20] Q&A Session Summary Question: Can you elaborate on the situation in China regarding tariffs? - Management indicated that most exposure comes from medical equipment produced in the U.S. and that there is potential for some products to be exempt from retaliatory tariffs [38] Question: What is the timeline for the $300 to $400 million pipeline? - Management expects a majority of contracts to be awarded within 2025, with projects being larger than typical flow business [47] Question: How is the company positioned regarding pricing power? - Management believes that competitive advantages may strengthen due to anticipated long-term tariff scenarios, potentially enhancing pricing power [78]

A p r i l 2 9 , 2 0 2 5 First Quarter 2025 Earnings Presentation 1 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "anticipate", "believe", "continue", "could", "estimate", "expect", "hope", "intend", "may", "might", "plan", "possible", "potential", "predict", "project", "should", "strive", "seeks", "plans", "would", "will", "understand" and similar words are intend ...

Company Performance - Mirion Technologies reported quarterly earnings of $0.10 per share, matching the Zacks Consensus Estimate, and an increase from $0.06 per share a year ago [1] - The company posted revenues of $202 million for the quarter ended March 2025, slightly missing the Zacks Consensus Estimate by 0.39%, but showing growth from $192.6 million year-over-year [2] - Over the last four quarters, Mirion Technologies has surpassed consensus EPS estimates only once, while it has topped consensus revenue estimates two times [2][3] Stock Outlook - Mirion Technologies shares have declined approximately 11.8% since the beginning of the year, compared to a 6% decline in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.11 on revenues of $218.1 million, and for the current fiscal year, it is $0.47 on revenues of $906.5 million [7] Industry Context - The Technology Services industry, to which Mirion Technologies belongs, is currently ranked in the top 26% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment and stock performance [5][6]

News Release Exhibit 99.1 Mirion Announces First Quarter 2025 Financial Results and Updates Full Year Guidance Atlanta, GA – April 29, 2025 – Mirion ("we" or the "company") (NYSE: MIR), a global provider of radiation detection, measurement, analysis, and monitoring solutions to the nuclear, medical, defense, and research end markets, today announced results for the first quarter ended March 31, 2025. Mirion has reaffirmed 2025 Organic Revenue growth, Adjusted EBITDA, Adjusted EPS, and Adjusted Free Cash Flo ...

Core Viewpoint - Mirion Technologies, Inc. (MIR) has received an upgrade to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is primarily based on a company's changing earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [2]. - The Zacks rating upgrade for Mirion Technologies reflects a positive outlook on its earnings, which is expected to positively impact its stock price [4][6]. Impact of Earnings Estimates on Stock Prices - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [5]. - Institutional investors often rely on earnings estimates to determine the fair value of a company's shares, leading to significant price movements based on their investment actions [5]. Recent Performance of Mirion Technologies - For the fiscal year ending December 2025, Mirion Technologies is projected to earn $0.47 per share, representing a 14.6% increase from the previous year [9]. - Over the past three months, the Zacks Consensus Estimate for Mirion Technologies has increased by 2.6%, indicating a positive trend in earnings estimates [9]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [8]. - The upgrade of Mirion Technologies to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [11].

Company Overview - Mirion operates in two reporting segments: Nuclear & Safety and Medical, with a workforce of 439 scientists, engineers, and technicians, representing approximately 15% of its total workforce as of December 31, 2024[30]. - As of December 31, 2024, the company employed 2,860 full-time and part-time employees, with approximately 1,580 in the United States and 1,519 outside the United States[78]. - Manufacturing personnel comprised approximately 60% of the total workforce, totaling 1,721 employees as of December 31, 2024[72]. - The company has a total of 272 sales and marketing personnel, representing approximately 10% of the total workforce, organized by operating segment and end market[67]. Market Trends and Opportunities - The global nuclear medicine market is expected to grow, driven by the increasing prevalence and incidence of cancer worldwide, alongside advancements in radiotherapy technology[38]. - Mirion's Nuclear & Safety segment benefits from the aging installed base of nuclear reactors, which requires frequent product replacements and upgrades[35]. - The company anticipates increased demand for nuclear energy due to rising energy needs from cloud computing and artificial intelligence data centers[32]. - The company is positioned to capitalize on growth opportunities in the nuclear industry, including decontamination and decommissioning activities[35]. - Mirion's Medical segment enhances cancer care delivery and supports applications across medical diagnostics and practitioner safety, with a presence in over 80% of cancer centers worldwide[29]. Financial Performance - Total revenues for the fiscal year ended December 31, 2024, increased to $860.8 million, up 7.4% from $800.9 million in 2023[376]. - Gross profit for the fiscal year ended December 31, 2024, was $399.7 million, representing a gross margin of 46.4% compared to 44.4% in 2023[376]. - Net loss for the fiscal year ended December 31, 2024, decreased to $36.6 million from a net loss of $98.7 million in 2023, reflecting a 62.9% improvement[379]. - Operating expenses for the fiscal year ended December 31, 2024, totaled $374.9 million, down from $378.3 million in 2023, indicating a reduction of 0.9%[376]. - Cash provided by operating activities increased to $99.1 million in 2024, compared to $95.2 million in 2023 and $39.4 million in 2022[386]. Research and Development - Research and development expenses for the fiscal year ended December 31, 2024, were $35.0 million, an increase from $31.7 million in 2023 and $30.3 million in 2022, reflecting a commitment to innovation[66]. - The company is focusing on developing new products and services, including a personal radiation detector called Accurad for civil services markets[58]. - Approximately 15% of the total workforce is engaged in research and development, consisting of about 169 software engineers and 270 scientists and technicians[66]. Compliance and Regulatory Environment - The company is subject to various environmental regulations, including the Comprehensive Environmental Response, Compensation and Liability Act and the Clean Water Act, which may impact operations[92]. - Compliance with export controls and economic sanctions has become increasingly complex, particularly due to the ongoing conflict between Russia and Ukraine, affecting revenue recognition and project execution[97][110]. - The company is subject to various healthcare-related laws and regulations, including the U.S. Food, Drug, and Cosmetic Act, impacting its medical device operations[101][103]. - The company must comply with medical device reporting regulations and cGMP in the U.S. and ISO 13485 certification internationally to maintain product clearances[151]. - The company operates in a complex regulatory environment, particularly concerning the use of radioactive materials, which could lead to increased costs and liabilities[120]. Risks and Challenges - The company faces significant risks related to supply chain disruptions, which could lead to increased costs and production interruptions[115]. - A substantial portion of the company's revenue is derived from contracts with U.S. governmental customers, making it vulnerable to changes in government budgets and spending[126]. - Cybersecurity risks are growing, with potential significant costs and reputational damage from cyberattacks and data breaches[128]. - The lengthy and uncertain sales cycle complicates revenue predictions, particularly on a quarterly basis, leading to potential fluctuations in operating results[116]. - The company has experienced significant fluctuations in demand for its products, particularly in the nuclear sector, driven by increased electricity demand and geopolitical conditions[110]. International Operations - Approximately 37% of the company's net sales for the years ended December 31, 2024, 2023, and 2022 were generated from international sales[124]. - For the year ended December 31, 2024, approximately 42.1% of revenues were derived from international operations, compared to 40.6% in 2023 and 40.2% in 2022[355]. - The company has operations in multiple countries, including the United States, Canada, and several European and Asian nations[389]. Debt and Financial Position - As of December 31, 2024, the company had $694.6 million in outstanding indebtedness under its senior secured term loan facility, with an additional availability of up to $90.0 million under its revolving facility[157]. - The company's effective tax rate may fluctuate due to various factors, including changes in profitability across jurisdictions and evolving tax laws, which could adversely affect its results of operations[161]. - The company may incur additional debt in the future, which could increase risks associated with meeting debt obligations and financial flexibility[158]. Acquisitions and Growth Strategy - The company has acquired and integrated 16 companies since 2016, enhancing its portfolio and market presence[53]. - The company plans to expand its addressable market by entering new geographic regions and pursuing strategic acquisitions[56]. - The company has made and plans to continue making acquisitions and investments, which involve numerous risks and uncertainties[117].

Financial Data and Key Metrics Changes - In Q4 2024, revenue reached a record $254.3 million, reflecting a 10.4% increase from $230.4 million in Q4 2023 [30][24] - Full year revenue grew 7.5% to $860.8 million compared to 2023, with organic growth at 6.6% [32][30] - Adjusted EBITDA for Q4 was nearly $70 million, a 14% increase year-over-year, with margins expanding by 90 basis points [27][34] - Adjusted EPS for Q4 was $0.17, up $0.02 from the previous year, contributing to a full year adjusted EPS of $0.41 [28][35] Business Line Data and Key Metrics Changes - The Nuclear and Safety Group saw Q4 revenue grow 13.2% to $168.8 million, with organic growth at 13.9% [36] - The Medical segment revenue for Q4 was $85.5 million, a 5.2% increase, with organic growth of 3.7% [41] - Full year revenue for the Medical segment was $299.7 million, reflecting a 5.3% increase compared to 2023 [44] Market Data and Key Metrics Changes - Approximately 37% of total revenue in 2024 was derived from the commercial nuclear power landscape, significantly higher than competitors [14][72] - The company reported strong demand from the installed base of nuclear reactors, which represents over 95% of all operating commercial reactors worldwide [16][21] Company Strategy and Development Direction - The company is focused on capital allocation and has a robust pipeline of M&A and organic opportunities [12][13] - The strategic alliance with Siemens Healthineers aims to enhance the market presence of the company's radiation therapy quality assurance software [136] - The company is positioned uniquely in the nuclear instrumentation space, emphasizing its role in the nuclear power lifecycle [15][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2025, with expectations for organic revenue growth to peak in Q3 [62][72] - The company anticipates continued strength in capital spending in the nuclear sector, driven by global demand for clean energy [17][18] - Management highlighted potential wildcards for 2025, including the recovery of the Chinese market and the resolution of the Ukraine conflict [76][78] Other Important Information - The company ended 2024 with a net leverage of 2.5 times adjusted EBITDA, indicating improved financial strength [53] - Adjusted free cash flow for the full year was $65 million, with a target to increase this by 50% in 2025 [54][63] Q&A Session Summary Question: How is the EBITDA margin improvement expected to trend in 2025? - Management clarified that the EBITDA margin improvement is based on year-over-year comparisons, not sequentially [69] Question: What is the outlook for nuclear as a percentage of total revenue? - Management indicated that nuclear represented about 37% of total revenue in 2024, with expectations for this percentage to grow in 2025 due to strong demand [71][72] Question: What are the biggest wildcards for the medical segment in 2025? - Management identified the Chinese market recovery and the potential resolution of the Ukraine conflict as significant wildcards that could impact growth [76][78] Question: Can you provide insights on the book and bill flow business? - Management noted that the core nuclear power-related exposure is driving increased capital spending, which supports growth in the book and bill flow business [88][90] Question: What does the EDF announcement regarding AI-driven data centers mean for the company? - Management emphasized the strategic importance of the relationship with EDF and the potential for increased capital spending in their installed base [94][96] Question: What are the risks related to government expenditures and reimbursements in the nuclear medicine sector? - Management expressed confidence that there would be no significant changes in reimbursement codes that would impact investment in nuclear medicine products [110][111] Question: What is the timeline for restarting business in Russia and Ukraine post-conflict? - Management indicated readiness to support nuclear infrastructure in both markets once peace is restored, with expectations for significant new build activity in Ukraine [120][121] Question: What is the sentiment regarding regulatory updates in the US? - Management reported excitement among customers regarding favorable regulatory announcements and a pro-nuclear environment at both federal and state levels [123][126]

F e b r u a r y 1 1 , 2 0 2 5 Fourth Quarter & Full Year 2024 Earnings Presentation 1 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "anticipate", "believe", "continue", "could", "estimate", "expect", "hope", "intend", "may", "might", "plan", "possible", "potential", "predict", "project", "should", "strive", "seeks", "plans", "would", "will", "understand" and simil ...

Financial Performance - Fourth quarter revenues increased by 10.4% to $254.3 million, compared to $230.4 million in the same period in 2023[5] - GAAP net income for the fourth quarter was $15.9 million, a 210% improvement from a net loss of $14.5 million in the same period last year[5] - Adjusted EBITDA for the fourth quarter was $69.6 million, a 14.1% increase from $61.0 million in the same period last year[5] - Total revenues for the fiscal year ended December 31, 2024, increased to $860.8 million, up 7.4% from $800.9 million in 2023[21] - Product revenues rose to $643.1 million, a 7.6% increase from $597.8 million in the previous year[21] - Service revenues also grew to $217.7 million, reflecting a 7.3% increase from $203.1 million in 2023[21] - Gross profit for the fiscal year was $399.7 million, compared to $356.4 million in 2023, marking an increase of 12.1%[21] - Adjusted net income for the year ended December 31, 2024, was $85.4 million, up from $66.6 million in 2023, representing a growth of approximately 28.5%[38] - The company reported a GAAP net income of $15.9 million for the three months ended December 31, 2024, compared to a loss of $14.5 million in the same period of 2023[38] Guidance and Future Outlook - The company reaffirmed its full year 2025 revenue growth guidance of approximately 4.0% to 6.0%, including a foreign exchange rate headwind of approximately 190 basis points[4] - Adjusted EBITDA for 2025 is expected to be between $215 million and $230 million, with an adjusted EBITDA margin of approximately 24.5% to 25.5%[10] - Adjusted Free Cash Flow for 2025 is expected to be between $85 million and $110 million, with a conversion rate of approximately 39% to 48% of adjusted EBITDA[10] - Initial Adjusted Earnings per Share guidance for 2025 is between $0.45 and $0.50 per share[5] - Approximately half of the expected 2025 revenue is already in backlog, indicating strong future revenue visibility[3] Operational Highlights - The Nuclear & Safety and Medical Groups achieved organic revenue growth and improved adjusted EBITDA margins in the fourth quarter compared to the previous year[3] - The company is advancing discussions on $300 million to $400 million of large order potential and sees increased opportunities for bidding on large deals[3] Cash and Assets - Cash and cash equivalents at the end of the period increased to $175.6 million, up from $130.5 million at the end of 2023[23] - Total assets decreased to $2,636.0 million from $2,718.5 million in 2023, a decline of 3.0%[19] - Total liabilities decreased to $1,076.9 million, down from $1,168.5 million in the previous year, a reduction of 7.8%[19] Expenses and Shares - Research and development expenses increased to $35.0 million, up from $31.7 million in 2023, reflecting a growth of 10.4%[21] - The weighted average common shares outstanding increased to 204.991 million from 196.369 million in 2023[21] Adjusted Metrics - For the three months ended December 31, 2024, adjusted EBITDA was $69.6 million, compared to $61.0 million for the same period in 2023, reflecting a growth of approximately 42.6%[36] - The adjusted EBITDA margin for the year ended December 31, 2024, was 23.7%, an increase from 22.6% in 2023[36] - Adjusted earnings per share (EPS) for the three months ended December 31, 2024, was $0.17, compared to $0.15 for the same period in 2023, indicating a growth of approximately 13.3%[38] Foreign Currency Impact - The company experienced a foreign currency loss of $2.0 million for the three months ended December 31, 2024, compared to a gain of $1.3 million in the same period of 2023[38] Financial Ratios - The company’s net leverage ratio is calculated as net debt divided by adjusted EBITDA, providing insights into its financial health[33] - The adjusted free cash flow conversion ratio is defined as adjusted free cash flow divided by adjusted EBITDA, highlighting the company's cash generation capabilities[32]