OverviewSuggest Edit

Varex Imaging Corporation is a developer and manufacturer of X-ray imaging component solutions. Its solutions include X-ray tubes, digital flat panel detectors, software, and other key components of X-ray imaging systems. The company serves medical, industrial, and security imaging applications

TypePublic
Founded2016
HQSalt Lake City, UT, US
Websitevareximaging.com
Employee Ratings3.2

Latest Updates

Employees (est.) (Jan 2020)2,000
Job Openings103
Revenue (FY, 2020)$738.3 M(-5%)
Share Price (Nov 2021)$27.6
Cybersecurity ratingDMore
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Key People/Management at Varex Imaging

Sunny Sanyal

Sunny Sanyal

Chief Executive Officer
Andrew Hartmann

Andrew Hartmann

Senior Vice President, Medical Global Sales and Marketing
Shubham Maheshwari

Shubham Maheshwari

Chief Financial Officer
Kim Honeysett

Kim Honeysett

Senior Vice President, General Counsel, & Corporate Secretary
Carl LaCasce

Carl LaCasce

Senior Vice President & General Manager, Industrial Imaging
Mark Jonaitis

Mark Jonaitis

Senior Vice President & General Manager, X-Ray Sources
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Varex Imaging Office Locations

Varex Imaging has offices in Salt Lake City, Franklin Park, Las Vegas, Liverpool and in 12 other locations
Salt Lake City, UT, US (HQ)
1678 Pioneer Rd
Franklin Park, IL, US
3835 Carnation St
Las Vegas, NV, US
6811 Spencer St
Liverpool, NY, US
121 Metropolitan Park Dr
San Jose, CA, US
683 River Oaks Pkwy
Beijing, CN
Room 606C, Building 3, No. 1 Jia 1 Di Sheng Nan Jie, BDA
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Varex Imaging Financials and Metrics

Varex Imaging Revenue

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View revenue for all periods
Varex Imaging's revenue was reported to be $738.3 m in FY, 2020 which is a 5.4% decrease from the previous period.
USD

Revenue (Q2, 2021)

203.5m

Gross profit (Q2, 2021)

64.6m

Gross profit margin (Q2, 2021), %

31.7%

Net income (Q2, 2021)

3.2m

EBIT (Q2, 2021)

15.8m

Market capitalization (12-Nov-2021)

1.1b

Closing stock price (12-Nov-2021)

27.6

Cash (2-Apr-2021)

111.1m

EV

1.4b
Varex Imaging's current market capitalization is $1.1 b.
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

698.1m773.4m780.6m738.3m

Revenue growth, %

11%1%(5%)

Cost of goods sold

444.6m519.5m523.9m548.1m

Gross profit

253.5m253.9m256.7m190.2m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021

Revenue

176.2m201.2m191.2m185.7m195.8m196.7m200.1m197.0m171.2m177.1m203.5m

Cost of goods sold

114.7m131.1m128.2m125.7m131.4m136.0m139.0m139.4m144.9m119.9m138.9m

Gross profit

61.5m70.1m63.0m60.0m64.4m60.7m61.1m57.6m26.3m57.2m64.6m

Gross profit Margin, %

35%35%33%32%33%31%31%29%15%32%32%
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Cash

83.3m51.9m29.9m100.6m

Accounts Receivable

163.6m154.0m141.0m123.8m

Prepaid Expenses

13.9m17.1m19.3m25.7m

Inventories

234.5m235.1m248.2m271.9m
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Net Income

52.0m28.3m15.8m(57.4m)

Depreciation and Amortization

27.4m42.2m39.2m39.5m

Inventories

(4.2m)(2.4m)(11.1m)(42.7m)

Accounts Payable

4.9m5.2m(9.0m)14.3m
Quarterly
USDFY, 2017

Revenue/Employee

349.1k

Debt/Equity

1.3 x

Debt/Assets

0.5 x

Financial Leverage

2.7 x
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Varex Imaging Operating Metrics

Varex Imaging's Backlog was reported to be $207.6m in FY, 2020.
FY, 2017FY, 2018FY, 2019FY, 2020Jan, 2021

Production Volume (X-ray Tubes)

27 k

Production Volume (X-ray Detectors)

20 k

Connector Cables, km

1 k

Backlog

$231.9 m$308.1 m$265.2 m$207.6 m
Show all operating metrics

Varex Imaging Acquisitions / Subsidiaries

Company NameDateDeal Size
Direct ConversionMarch 21, 2019$72.6 m
PerkinElmer - Medical ImagingMay 01, 2017$276 m
3901 Carnation Street, LLC
Dexela Limited
Direct Conversion AB
Direct Conversion GmbH
Direct Conversion Ltd
MeVis Medical Solutions AG
Oy Direct Conversion Ltd.
Varex Imagens Brasil, Ltda.
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Varex Imaging Revenue Breakdown

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Varex Imaging revenue breakdown by business segment: 20.8% from Industrial and 79.2% from Medical

Varex Imaging revenue breakdown by geographic segment: 34.1% from APAC, 31.4% from EMEA, 33.8% from United States and 0.7% from Other

Varex Imaging Cybersecurity Score

Cybersecurity ratingPremium dataset

D

64/100

SecurityScorecard logo

Varex Imaging Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

50-59

out of 100

CSRHub logo

Varex Imaging Online and Social Media Presence

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Varex Imaging News and Updates

40% Upside Possible For Varex Imaging Stock

Varex Imaging Corporation, best known for its X-ray tubes and imaging solutions, has seen its stock fall 60% year-to-date – decreasing from $30 at the beginning of the year to around $12 now, significantly underperforming the S&P500, which grew 5%. Why? Imaging companies, such as Varex...

Varex Imaging To Present At JP Morgan Healthcare Conference

SALT LAKE CITY, Dec. 21, 2018 /PRNewswire/ -- Varex Imaging Corporation (Nasdaq: VREX) today announced that it is scheduled to make a presentation at the JP Morgan Healthcare Conference on Wednesday, January 9, 2019 at 5:00 pm Pacific Time. This event is being held at the Westin St....

Varex Imaging To Showcase Its Industrial Imaging Products At ASNT Fall 2018 Conference & Exhibit

SALT LAKE CITY, Oct. 26, 2018 /PRNewswire/ -- Varex Imaging Corporation (Nasdaq: VREX) will exhibit its latest industrial Nondestructive Testing (NDT) imaging products at the Annual Meeting for the American Society for Nondestructive Testing in Houston, Texas from October 28-31, 2018....

Varex Imaging Blogs

ASNT 2021

Phoenix, Arizona Jeff Adams, our Director of Industrial Sales & Marketing and our team of experts are delighted to be meeting industrial testing friends in person, once more, at the Phoenix Convention Center for ASNT 2021 - November 15-18. Preparations are in the very early stage…

Varex Announces Partial Redemption of Senior Secured Notes

07/01/21 SALT LAKE CITY, July 1, 2021 – Varex Imaging Corporation (Nasdaq: VREX) today announced the partial redemption in the amount of $30 million of its $300 million 7.875% senior secured notes due 2027, in accordance with the terms and conditions of the governing indenture. The re…

Varex Announces LUMEN 4336W Radiography Detector With IP68 Rating

07/01/21   SALT LAKE CITY--(BUSINESS WIRE)--Varex Imaging Corporation (Nasdaq: VREX) today announced the addition of the LUMEN 4336W digital radiography detector to Varex’s product line. The LUMEN 4336W joins the LUMEN 4343W as part of a new generation of detectors designed for increa…

LUMEN 4336W Wireless Radiography Detector

Monday, June 28, 2021 Picture Keith Dowling Applications Systems Engineer   RELIABLE The new LUMEN 4336W has been designed with reliability in mind from the start.  By simplifying the construction of the internal components, we …

Varex Announces Financial Results for Second Quarter of Fiscal Year 2021

05/04/21     VAREX ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER FISCAL YEAR 2021   SALT LAKE CITY, May 4, 2021 – Varex Imaging Corporation (Nasdaq: VREX) today announced its unaudited financial results for the second quarter of fiscal year 2021.   2QFY21 Summary …

Varex Schedules Second Quarter FY2021 Earnings Release and Conference Call

04/20/21 SALT LAKE CITY, April 20, 2021 – Varex Imaging Corporation (Nasdaq: VREX) today announced that it will report unaudited financial results for the second quarter of fiscal year 2021 following the close of regular trading on Tuesday, May 4, 2021. The earnings news release will …
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Varex Imaging Frequently Asked Questions

  • When was Varex Imaging founded?

    Varex Imaging was founded in 2016.

  • Who are Varex Imaging key executives?

    Varex Imaging's key executives are Sunny Sanyal, Andrew Hartmann and Shubham Maheshwari.

  • How many employees does Varex Imaging have?

    Varex Imaging has 2,000 employees.

  • What is Varex Imaging revenue?

    Latest Varex Imaging annual revenue is $738.3 m.

  • What is Varex Imaging revenue per employee?

    Latest Varex Imaging revenue per employee is $369.2 k.

  • Who are Varex Imaging competitors?

    Competitors of Varex Imaging include Agfa-Gevaert, Bruker and RadNet.

  • Where is Varex Imaging headquarters?

    Varex Imaging headquarters is located at 1678 Pioneer Rd, Salt Lake City.

  • Where are Varex Imaging offices?

    Varex Imaging has offices in Salt Lake City, Franklin Park, Las Vegas, Liverpool and in 12 other locations.

  • How many offices does Varex Imaging have?

    Varex Imaging has 16 offices.