Varex Imaging (VREX) Q1 2026 Earnings Transcript

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Tuesday, February 10, 2026 astatine 5:00 p.m. ET

• President and Chief Executive Officer — Sunny Sanyal

• Chief Financial Officer — Shubham Maheshwari

• Director of Investor Relations — Christopher Belfiore

Christopher Belfiore: Good afternoon, and invited to Varex Imaging's net league telephone for the archetypal 4th of fiscal twelvemonth 2026. With maine contiguous are Sunny Sanyal, our President and CEO; and Sam Maheshwari, our CFO. Please enactment that the unrecorded webcast of this league telephone includes a supplemental descent presumption that tin beryllium accessed astatine Varex's website astatine vareximaging.com. The webcast and supplemental descent presumption volition beryllium archived connected Varex's website. To simplify our discussion, unless different stated, each references to the 4th are for the archetypal 4th of fiscal twelvemonth 2026 and to the twelvemonth are for the fiscal twelvemonth 2026.

In addition, unless different stated, quarterly comparisons are made year-over-year from the archetypal 4th of fiscal twelvemonth 2026 to the archetypal 4th of fiscal twelvemonth 2025. I would similar to punctual you that Q1 of 2025 was a 14-week quarter. Finally, each references to the twelvemonth are to the fiscal twelvemonth and not the calendar year, unless different stated. Please beryllium advised that during this call, we volition beryllium making forward-looking statements, which are predictions oregon projections astir aboriginal events. These statements are based connected existent information, expectations and assumptions that are taxable to risks and uncertainties that could origin existent results to disagree materially from those anticipated.

Risks relating to our concern are described successful our quarterly net merchandise and our filings with the SEC. Additional accusation concerning factors that could origin existent results to materially disagree from those anticipated is contained successful our SEC filings, including Items 1A, Risk Factors of our quarterly reports connected Form 10-Q, and our yearly study connected Form 10-K. The accusation successful these discussions speaks arsenic of today's date, and we presume nary work to update oregon revise the forward-looking statements successful this discussion. On today's call, we volition beryllium discussing definite non-GAAP fiscal measures. Beginning with the archetypal 4th of fiscal 2026, we changed our non-GAAP argumentation with respect to equity method investments.

We volition supply much item aboriginal successful the call. A reconciliation of these changes is presented astatine the backmost of our net merchandise and descent presumption for the quarter. Our non-GAAP measures are not presented successful accordance with, nor are they a substitute for GAAP fiscal measures. We provided a reconciliation of each non-GAAP fiscal measurement to the astir straight comparable GAAP fiscal measurement successful our net property release, which is posted connected our website. I volition present crook the telephone implicit to Sunny.