VREX on Nasdaq
Varex Imaging Corp
American electronic components company based in Wilmington, active since 20162
In its 2025 annual report the company says: “Varex Imaging Corporation is a leading innovator, designer and manufacturer of X-ray imaging components including X-ray tubes, flat panel and photon counting detectors and accessories, linear accelerators, image software processing solutions, and stand-alone X-ray based systems in select application areas. Our components are used in medical diagnostic imaging, security inspection systems, and industrial quality inspection systems, as well as for analysis and measurement applications in industrial manufacturing applications.”6 Its shares trade on Nasdaq under the symbol VREX.2
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Last updated Oct 21, 2026.
Overview
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- TickerVREX on Nasdaq2
- IndustryElectronic Components, NEC2
- HeadquartersWilmington, United States2
- Incorporated inDE4
- Business address1678 S. Pioneer Road, Salt Lake City, Ut 841044
- Filer categoryAccelerated filer4
- Legal formCorporation2
- LEI549300CWYWPVCT8E9W672
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O UNITED AGENT GROUP INC., 19803 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 60674282
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Varex Imaging Corporation is a leading innovator, designer and manufacturer of X-ray imaging components including X-ray tubes, flat panel and photon counting detectors and accessories, linear accelerators, image software processing solutions, and stand-alone X-ray based systems in select application areas. Our components are used in medical diagnostic imaging, security inspection systems, and industrial quality inspection systems, as well as for analysis and measurement applications in industrial manufacturing applications. Global OEMs incorporate our X-ray imaging components into their systems to detect, diagnose, protect, irradiate, and inspect. Varex has approximately 2,400 full-time equivalent employees, located at engineering, manufacturing, and service center sites in North America, Europe, and Asia.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
34.4%Gross margin3
-3.3%Operating margin3
-8.3%Net margin3
4.1%Revenue growth, 20253
-14.9%Return on equity3
0.77×Debt to equity3
$18.8MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Medical brought in 70% of the revenue Varex Imaging Corp broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Medical | $673.3M | $581.7M | $592.6M |
| Industrial | $220.1M | $229.3M | $252.0M |
Regions
Other Countries brought in 19% of the revenue Varex Imaging Corp broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| Other Countries | $314.9M | $317.2M | $317.9M |
| EMEA | $290.7M | $280.3M | $284.8M |
| Asia Pacific | $320.9M | $264.2M | $283.3M |
| Americas | $281.8M | $266.5M | $276.5M |
| United States | $275.1M | $257.7M | $254.9M |
| Japan | $156.6M | $118.1M | $143.5M |
| China | $146.8M | $118.0M | $128.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue66¢$554.1M
- Research and development11¢$91.1M
- Selling, general and admin16¢$133.3M
- Other costs7¢$55.4M
- Income tax1¢$10.7M
Out of $844.6M in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending55¢$22.9M
- Kept or used elsewhere45¢$18.8M
Out of $41.7M of cash from operations.3
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Revenues, net | $844.6M | $811.0M | $893.4M |
| Cost of revenues | $554.1M | $554.1M | $603.1M |
| Gross profit | $290.5M | $256.9M | $290.3M |
| Research and development | $91.1M | $87.0M | $84.8M |
| Selling, general, and administrative | $133.3M | $137.8M | $128.4M |
| Impairment of goodwill | $93.9M | $0 | $0 |
| Total operating expenses | $318.3M | $224.8M | $213.2M |
| Operating (loss) income | -$27.8M | $32.1M | $77.1M |
| Interest income | $8.5M | $7.3M | $3.7M |
| Interest expense | -$35.5M | -$30.2M | -$29.3M |
| Other expense, net | -$4.4M | -$4.2M | -$20.2M |
| Interest and other expense, net | -$31.4M | -$27.1M | -$45.8M |
| (Loss) income before taxes | -$59.2M | $5.0M | $31.3M |
| Income tax expense (benefit) | $10.7M | $53.3M | -$16.6M |
| Net (loss) income | -$69.9M | -$48.3M | $47.9M |
| Less: Net income attributable to noncontrolling interests | $400.0K | $500.0K | $500.0K |
| Net (loss) income attributable to Varex | -$70.3M | -$48.8M | $47.4M |
| Basic (in USD per share) | -$1.70 | -$1.20 | $1.18 |
| Diluted (in USD per share) | -$1.70 | -$1.20 | $1.07 |
| Basic (in shares) | 41.4M shares | 40.8M shares | 40.3M shares |
| Diluted (in shares) | 41.4M shares | 40.8M shares | 50.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $145.0M | $168.7M | $152.6M | |
| Marketable securities | $10.1M | $31.8M | ||
| Accounts receivable, net of allowance for credit losses of $2.1 million and $1.0 million at October 3, 2025 and September 27, 2024, respectively | $156.6M | $157.7M | ||
| Inventories, net | $299.4M | $264.8M | ||
| Prepaid expenses and other current assets | $30.7M | $26.9M | ||
| Total current assets | $641.8M | $649.9M | ||
| Property, plant, and equipment, net | $157.8M | $153.4M | ||
| Goodwill | $198.4M | $291.0M | ||
| Intangible assets, net | $14.0M | $16.1M | ||
| Investments in privately-held companies | $24.5M | $26.8M | ||
| Deferred tax assets | $2.9M | $1.3M | ||
| Operating lease assets | $29.4M | $28.3M | ||
| Other assets | $38.6M | $46.8M | ||
| Total assets | $1.1B | $1.2B | ||
| Accounts payable | $69.9M | $59.1M | ||
| Accrued liabilities and other current liabilities | $98.4M | $78.6M | ||
| Current operating lease liabilities | $4.4M | $4.0M | ||
| Current maturities of long-term debt, net | $1.5M | $46.3M | ||
| Deferred revenues | $13.0M | $7.9M | ||
| Total current liabilities | $187.2M | $195.9M | ||
| Long-term debt, net | $366.0M | $397.1M | ||
| Deferred tax liabilities | $5.5M | $4.0M | ||
| Operating lease liabilities | $24.0M | $23.0M | ||
| Other long-term liabilities | $38.1M | $50.4M | ||
| Total liabilities | $620.8M | $670.4M | ||
| Preferred stock, $0.01 par value: 20,000,000 shares authorized, none issued | $0 | $0 | ||
| Common stock, $.01 par value: 150,000,000 shares authorized; shares issued and outstanding: 40,860,965 and 40,529,573 at June 28, 2024 and September 29, 2023, respectively | $400.0K | $400.0K | ||
| Additional paid-in capital | $483.3M | $467.2M | ||
| Accumulated other comprehensive loss | -$5.2M | -$2.9M | ||
| (Accumulated deficit) retained earnings | -$5.9M | $64.4M | ||
| Total Varex stockholders' equity | $472.6M | $529.1M | ||
| Noncontrolling interests | $14.0M | $14.1M | $13.3M | |
| Total stockholders' equity | $486.6M | $543.2M | $576.1M | $542.6M |
| Total liabilities and stockholders' equity | $1.1B | $1.2B | ||
| Accounts receivable, allowance for doubtful accounts | $2.1M | $1.0M | ||
| Preferred stock, par value (in USD per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 20.0M shares | 20.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Common stock, par value per share (in USD per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 150.0M shares | 150.0M shares | ||
| Common stock, shares, issued (in shares) | 41.7M shares | 41.1M shares | ||
| Common stock, shares, outstanding (in shares) | 41.7M shares | 41.1M shares |
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $145.0M | $168.7M | $152.6M | |
| Marketable securities | $10.1M | $31.8M | ||
| Accounts receivable, net of allowance for credit losses of $2.1 million and $1.0 million at October 3, 2025 and September 27, 2024, respectively | $156.6M | $157.7M | ||
| Inventories, net | $299.4M | $264.8M | ||
| Prepaid expenses and other current assets | $30.7M | $26.9M | ||
| Total current assets | $641.8M | $649.9M | ||
| Property, plant, and equipment, net | $157.8M | $153.4M | ||
| Goodwill | $198.4M | $291.0M | ||
| Intangible assets, net | $14.0M | $16.1M | ||
| Investments in privately-held companies | $24.5M | $26.8M | ||
| Deferred tax assets | $2.9M | $1.3M | ||
| Operating lease assets | $29.4M | $28.3M | ||
| Other assets | $38.6M | $46.8M | ||
| Total assets | $1.1B | $1.2B | ||
| Accounts payable | $69.9M | $59.1M | ||
| Accrued liabilities and other current liabilities | $98.4M | $78.6M | ||
| Current operating lease liabilities | $4.4M | $4.0M | ||
| Current maturities of long-term debt, net | $1.5M | $46.3M | ||
| Deferred revenues | $13.0M | $7.9M | ||
| Total current liabilities | $187.2M | $195.9M | ||
| Long-term debt, net | $366.0M | $397.1M | ||
| Deferred tax liabilities | $5.5M | $4.0M | ||
| Operating lease liabilities | $24.0M | $23.0M | ||
| Other long-term liabilities | $38.1M | $50.4M | ||
| Total liabilities | $620.8M | $670.4M | ||
| Preferred stock, $0.01 par value: 20,000,000 shares authorized, none issued | $0 | $0 | ||
| Common stock, $.01 par value: 150,000,000 shares authorized; shares issued and outstanding: 40,860,965 and 40,529,573 at June 28, 2024 and September 29, 2023, respectively | $400.0K | $400.0K | ||
| Additional paid-in capital | $483.3M | $467.2M | ||
| Accumulated other comprehensive loss | -$5.2M | -$2.9M | ||
| (Accumulated deficit) retained earnings | -$5.9M | $64.4M | ||
| Total Varex stockholders' equity | $472.6M | $529.1M | ||
| Noncontrolling interests | $14.0M | $14.1M | $13.3M | |
| Total stockholders' equity | $486.6M | $543.2M | $576.1M | $542.6M |
| Total liabilities and stockholders' equity | $1.1B | $1.2B | ||
| Accounts receivable, allowance for doubtful accounts | $2.1M | $1.0M | ||
| Preferred stock, par value (in USD per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 20.0M shares | 20.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Common stock, par value per share (in USD per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 150.0M shares | 150.0M shares | ||
| Common stock, shares, issued (in shares) | 41.7M shares | 41.1M shares | ||
| Common stock, shares, outstanding (in shares) | 41.7M shares | 41.1M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Net (loss) income | -$69.9M | -$48.3M | $47.9M |
| Share-based compensation expense | $15.0M | $15.3M | $13.5M |
| Depreciation | $23.2M | $21.2M | $19.5M |
| Amortization of intangible assets | $4.0M | $9.9M | $13.7M |
| Deferred taxes | -$500.0K | $38.1M | -$38.7M |
| Loss from equity method investments | $2.7M | $2.0M | $1.6M |
| Impairment of equity method investment | $0 | $0 | $16.4M |
| Amortization of deferred loan costs | $2.7M | $2.8M | $2.6M |
| Gain on purchase of business | $0 | -$2.1M | $0 |
| Impairment of goodwill | $93.9M | $0 | $0 |
| Inventory write-down | $3.8M | $4.9M | $5.6M |
| Other, net | -$1.8M | $1.5M | $3.0M |
| Accounts receivable | $100.0K | $6.7M | $9.8M |
| Inventories, net | -$39.9M | $6.6M | $20.2M |
| Prepaid expenses and other assets | -$3.6M | $3.3M | $7.0M |
| Accounts payable | $6.2M | -$3.2M | -$15.0M |
| Accrued liabilities and other current and long-term liabilities | $100.0K | -$9.1M | -$1.0M |
| Deferred revenues | $5.7M | -$2.3M | $2.3M |
| Net cash provided by operating activities | $41.7M | $47.3M | $108.4M |
| Purchases of property, plant, and equipment | -$22.9M | -$26.9M | -$20.7M |
| Loss on settlement of cash flow hedge | $0 | $0 | -$200.0K |
| Proceeds from sales of marketable debt securities | $11.5M | $0 | $0 |
| Proceeds from maturities of marketable debt securities | $50.5M | $58.8M | $28.3M |
| Purchase of marketable debt securities | -$30.6M | -$56.6M | -$52.2M |
| Purchase of marketable equity securities | $0 | -$200.0K | -$2.7M |
| Purchase of certificates of deposit | $0 | -$4.2M | -$1.0M |
| Proceeds from maturities of certificates of deposit | $3.4M | $1.8M | $0 |
| Settlement of net investment hedge | $7.0M | ||
| Settlement of net investment hedge | -$800.0K | $0 | |
| Acquisitions of businesses, net of cash acquired | $0 | $900.0K | -$1.0M |
| Other, net | -$800.0K | -$1.1M | -$2.4M |
| Net cash provided by (used in) investing activities | $10.3M | -$27.5M | -$44.9M |
| Taxes related to net share settlement of equity awards | -$1.9M | -$2.2M | -$1.4M |
| Proceeds from issuance of senior secured notes | $126.9M | $0 | $0 |
| Repayments of borrowings | -$201.9M | -$1.6M | -$2.4M |
| Proceeds from exercise of stock options | $0 | $0 | $200.0K |
| Payment of debt issuance costs | -$1.2M | -$2.3M | $0 |
| Proceeds from shares issued under employee stock purchase plan | $3.3M | $3.8M | $3.9M |
| Other, net | -$1.1M | -$1.0M | -$500.0K |
| Net cash used in financing activities | -$75.9M | -$3.3M | -$200.0K |
| Effects of exchange rate changes on cash and cash equivalents and restricted cash | $600.0K | -$100.0K | $100.0K |
| Net (decrease) increase in cash and cash equivalents and restricted cash | -$23.3M | $16.4M | $63.4M |
| Cash paid for interest | $31.3M | $27.6M | $27.4M |
| Income taxes paid, net of refunds | $18.6M | $20.2M | $16.7M |
| Purchases of property, plant, and equipment financed through accounts payable | $5.4M | $1.0M | $2.7M |
No quarter-by-quarter statement was filed.
Corporate structure
Varex Imaging Corp sits at the top of its group. 32 entities, 17 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Varex Imaging Corp
- Allspring Global Investments Holdings, LLC Filed SCHEDULE 13G/A on Varex Imaging Corp, latest Oct 7, 2026 (4 filings since Jan 12, 2023)
- PZENA INVESTMENT MANAGEMENT LLC Filed SCHEDULE 13G/A on Varex Imaging Corp, latest Oct 5, 2026 (3 filings since Oct 15, 2024)
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Varex Imaging Corp, latest Jul 31, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Varex Imaging Corp, latest Mar 27, 2026 (8 filings since Feb 10, 2022)
- DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on Varex Imaging Corp, latest Oct 9, 2025 (3 filings since Feb 9, 2024)
- BlackRock Filed SCHEDULE 13G/A on Varex Imaging Corp, latest Apr 17, 2025 (5 filings since Feb 7, 2022)
- COOKE & BIELER LP Filed SCHEDULE 13G/A on Varex Imaging Corp, latest Feb 12, 2025 (2 filings since Feb 13, 2024)
- SHAPIRO CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Varex Imaging Corp, latest Nov 14, 2024 (5 filings since Oct 7, 2021)
- Janus Henderson Group Ltd. Filed SC 13G/A on Varex Imaging Corp, latest Feb 12, 2024 (2 filings since Feb 13, 2023)
- State Street Corporation Filed SC 13G/A on Varex Imaging Corp, latest Jan 23, 2024 (2 filings since Feb 3, 2023)
- Wells Fargo Filed SC 13G/A on Varex Imaging Corp, latest Jan 27, 2022
- Varex Imaging Corp Wilmington, Delaware, United States
- Direct Conversion Ltd Subsidiary · United Kingdom
- Irradiation Systems, LLC Subsidiary · Nevada, United States
- MeVis Breastcare GmbH & Co. KG (86.1%) Subsidiary · Germany
- MeVis Breastcare GmbH (86.1%) Subsidiary · Germany
- MeVis Medical Solutions AG (73.7%) Subsidiary · Germany
- Oy Varex Imaging Finland Ltd. Subsidiary · Finland
- Varex Imagens Brasil, Ltda. Subsidiary · Brazil
- Varex Imaging Americas Corporation Subsidiary · Illinois, United States
- Varex Imaging Arabia, LLC (75%) Subsidiary · Saudi Arabia
- Varex Imaging Deutschland AG Subsidiary · Willich, Germany
- Varex Imaging Equipment (China) Co., Ltd. Subsidiary · China
- Varex Imaging France SARL Subsidiary · France
- Varex Imaging Group Nederland B.V. Subsidiary · Netherlands
- Varex Imaging Holdings, Inc. Subsidiary · Delaware, United States
- Varex Imaging India Private Limited Subsidiary · India
- Varex Imaging International AG Subsidiary · Switzerland
- Varex Imaging International Holdings B.V. Subsidiary · Netherlands
- Varex Imaging Investments B.V. Subsidiary · Netherlands
- Varex Imaging Italia Srl Subsidiary · Italy
- Varex Imaging Japan, K.K. Subsidiary · Japan
- Varex Imaging Manufacturing India Private Limited Subsidiary · India
- Varex Imaging Mexico, S. de R.L. de C.V. Subsidiary · Mexico
- Varex Imaging Nederland B.V. Subsidiary · Netherlands
- Varex Imaging Philippines, Inc. Subsidiary · Philippines
- Varex Imaging Spain S.L. Subsidiary · Spain
- and 6 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Varex Imaging Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finance-lease assets | $5.7M3 Oct 3, 2025 | $6.6M3 Sep 27, 2024 | −13.6% |
| Operating-lease assets (leased space) | $29.4M3 Oct 3, 2025 | $28.3M3 Sep 27, 2024 | +3.9% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $145.0M3 Oct 3, 2025 | $168.7M3 Sep 27, 2024 | −14.0% |
| Marketable securities, current | $10.1M3 Oct 3, 2025 | $31.8M3 Sep 27, 2024 | −68.2% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $198.4M3 Oct 3, 2025 | $291.0M3 Sep 27, 2024 | −31.8% |
| Intangible assets, net (excluding goodwill) | $14.0M3 Oct 3, 2025 | $16.1M3 Sep 27, 2024 | −13.0% |
| Finite-lived intangibles, gross | $133.4M3 Oct 3, 2025 | $139.2M3 Sep 27, 2024 | −4.2% |
| Accumulated amortization | $119.4M3 Oct 3, 2025 | $123.1M3 Sep 27, 2024 | −3.0% |
| Finite-lived intangibles, net | $14.0M3 Oct 3, 2025 | $16.1M3 Sep 27, 2024 | −13.0% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $299.4M3 Oct 3, 2025 | $264.8M3 Sep 27, 2024 | +13.1% |
| Work in process | $31.3M3 Oct 3, 2025 | $16.2M3 Sep 27, 2024 | +93.2% |
| Finished goods | $40.0M3 Oct 3, 2025 | $34.1M3 Sep 27, 2024 | +17.3% |
Properties, in its own words
Our corporate headquarters is located in Salt Lake City, Utah, at an owned site used for manufacturing, administrative functions, and research and development for both our Medical and Industrial segments. We also own or lease 30 other facilities throughout North America, Europe, Asia, and India that comprise manufacturing facilities, warehouses, sales and service, research and development, and office space, which are used for our Medical and/or Industrial segments, depending on the location.
In addition to our location in Salt Lake City, Utah, our other primary owned facilities are located in Nevada, Illinois, the Netherlands, and India. Our primary leased facilities in the Philippines, China, Germany, India, and California, are used for manufacturing, research and development, or administrative functions for our Medical and Industrial segments.
The rest of Item 2
We believe our current facilities are well-maintained and adequate to meet our current and reasonably anticipated future needs. We believe we will be able to renew leases, as needed, on acceptable terms or that we will be able to find suitable alternatives.
Item 2 of the 10-K filed Nov 18, 2025.6
Leadership
Who has led Varex Imaging Corp, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
20202025
- Chief executive officerSunny Sanyal Jan 19, 2017 to now16
- PresidentSunny Sanyal Jan 19, 2017 to now16
- Chief financial officerShubham Maheshwari Aug 4, 2020 to now17
- Chief financial officerClarence R. Verhoef Jan 19, 2017 to Feb 19, 202018
Board members and other officers (23)
- SVP and GM, IndustrialJesse Don Merkley Mar 27, 2026 to now19
- Chief Human Resources OfficerKaren L. Aranki Feb 13, 2024 to now20
- SVP Sales & Marketing, MedicalAndrew Hartmann Feb 18, 2021 to now21
- Vice President and SecretaryKimberley E. Honeysett Jan 19, 2017 to Jan 19, 201722
- SVP, Sales & MarketingCarl E. Lacasce Jan 30, 2017 to Jun 7, 201823
- SVP and GM, X-Ray SourcesMark S. Jonaitis Jan 30, 2017 to now24
- SVP and GM, X-Ray DetectorsRichard E. Colbeth Jan 30, 2017 to Feb 17, 201725
- Controller & CAOKevin Bruce Yankton Feb 6, 2017 to Feb 22, 202126
- SVP and GM, X-ray DetectorsBrian W. Giambattista May 8, 2017 to Feb 17, 202327
- Board memberKathleen Bardwell Aug 5, 2022 to now28
- Board memberTimothy E. Guertin Sep 10, 2020 to now29
- Board memberWalter M. Rosebrough Jr. Apr 26, 2018 to now30
- Board memberElisha W. Finney Jan 19, 2017 to Jan 19, 201731
- Board memberJohn W. Kuo Jan 19, 2017 to Jan 19, 201732
- Board memberSunny Sanyal Jan 19, 2017 to now16
- Board memberChristine A. Tsingos Jan 30, 2017 to now33
- Board memberDow R. Wilson Jan 30, 2017 to Feb 20, 201834
- Board memberErich R. Reinhardt Jan 30, 2017 to Feb 18, 202035
- Board memberJay K. Kunkel Jan 30, 2017 to now36
- Board memberRuediger Naumann-Etienne Jan 30, 2017 to Feb 13, 202337
- Board memberJocelyn D. Chertoff Apr 4, 2017 to now38
- General counselMatthew Aaron Martinez Oct 16, 2025 to now39
- General counselKimberley E. Honeysett Jan 31, 2017 to now40
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Direct Conversion Ltd United Kingdom5
- Irradiation Systems, LLC Nevada, USA5
- MeVis Breastcare GmbH & Co. KG (86.1%) Germany5
- MeVis Breastcare GmbH (86.1%) Germany5
- MeVis Medical Solutions AG (73.7%) Germany5
- Oy Varex Imaging Finland Ltd. Finland5
- Varex Imagens Brasil, Ltda. Brazil5
- Varex Imaging Americas Corporation Illinois, USA5
- Varex Imaging Arabia, LLC (75%) Saudi Arabia5
- Varex Imaging Deutschland AG Germany5
- Varex Imaging Equipment (China) Co., Ltd. China5
- Varex Imaging France SARL France5
- Varex Imaging Group Nederland B.V. Netherlands5
- Varex Imaging Holdings, Inc. Delaware, USA5
- Varex Imaging India Private Limited India5
- Varex Imaging International AG Switzerland5
- Varex Imaging International Holdings B.V. Netherlands5
- Varex Imaging Investments B.V. Netherlands5
- Varex Imaging Italia Srl Italy5
- Varex Imaging Japan, K.K. Japan5
- Varex Imaging Manufacturing India Private Limited India5
- Varex Imaging Mexico, S. de R.L. de C.V. Mexico5
- Varex Imaging Nederland B.V. Netherlands5
- Varex Imaging Philippines, Inc. Philippines5
All 31 listed subsidiaries
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 10, 20268-K Results of operations41
- Aug 10, 20268-K Entered a material agreement; Executive or director change; Regulation FD disclosure42
- May 7, 20268-K Results of operations43
- Mar 16, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation44
- Feb 13, 20268-K Shareholder vote45
- Feb 10, 20268-K Results of operations46
- Nov 18, 20258-K Results of operations47
- Sep 11, 20258-K Executive or director change48
- Aug 7, 20258-K Results of operations49
- May 8, 20258-K Results of operations50
- Apr 4, 20258-K Regulation FD disclosure51
- Feb 14, 20258-K Bylaws or fiscal year changed; Shareholder vote52
- Jan 19, 2017New chief executive Sunny Sanyal becomes CEO16
- Jul 18, 2016Founded Varex Imaging Corp is founded2
Calendar
Coming up
- Nov 17, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.37 a share, on Nov 18, 2025.53
When it reported results
- Aug 10, 2026Reported quarterly or annual results41
- May 7, 2026Reported quarterly or annual results43
- Feb 10, 2026Reported quarterly or annual results46
- Nov 18, 2025Reported quarterly or annual results47
- Aug 7, 2025Reported quarterly or annual results49
- May 8, 2025Reported quarterly or annual results50
- Feb 6, 2025Reported quarterly or annual results54
- Nov 19, 2024Reported quarterly or annual results55
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
269 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 37 major events, 129 insider forms, 36 large holders, 47 other. The latest 20:
- Oct 14, 20264 EDGAR
- Oct 7, 2026SCHEDULE 13G/A EDGAR
- Oct 5, 2026SCHEDULE 13G/A EDGAR
- Sep 21, 2026DEFM14A EDGAR
- Sep 15, 20264 EDGAR
- Sep 15, 20264 EDGAR
- Sep 14, 2026144 EDGAR
- Sep 11, 2026144 EDGAR
- Sep 8, 2026PREM14A EDGAR
- Aug 18, 20264 EDGAR
- Aug 12, 2026DEFA14A DEFA14A - VAREX CUSTOMER TALKING POINTS FAQ EDGAR
- Aug 10, 2026DEFA14A DEFA14A - ANNOUNCEMENTS TO EMPLOYEES EDGAR
- Aug 10, 2026DEFA14A DEFA14A - LETTER TO CUSTOMERS EDGAR
- Aug 10, 2026DEFA14A DEFA14A - LETTER TO SUPPLIERS EDGAR
- Aug 10, 202610-Q EDGAR
- Aug 10, 2026DEFA14A EDGAR
- Aug 10, 20268-K EDGAR
- Aug 10, 20268-K EDGAR
- Jul 31, 2026SCHEDULE 13G EDGAR
- May 28, 2026SD EDGAR
The 269 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
21 open-market trades by officers, directors and large owners since October 2021: 2 buys and 19 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 14, 2026 | Kunkel Jay K.Director | Sale | 8,121 | $18.48 | $150.1K | Form 4 |
| Sep 11, 2026 | Maheshwari ShubhamChief Financial Officer | Sale | 130,000 | $18.46 | $2.4M | Form 4 |
| Mar 20, 2026 | Kunkel Jay K.Director | Sale | 4,510 | $11.14 | $50.2K | Form 4 |
| Sep 19, 2025 | Aranki Karen LChief Human Resources Officer | Sale | 3,174 | $12.34 | $39.2K | Form 4 |
| Aug 14, 2025 | Kunkel Jay K.Director | Sale | 3,000 | $10.49 | $31.5K | Form 4 |
| Jun 18, 2025 | Kunkel Jay K.Director | Sale | 2,575 | $7.77 | $20.0K | Form 4 |
| Apr 2, 2025 | SANYAL SUNNYPresident and CEO | Sale | 8,749 | $11.24 | $98.3K | Form 4 |
| Mar 20, 2025 | Honeysett Kimberley E.SVP and CLO | Sale | 4,007 | $12.81 | $51.3K | Form 4 |
| Aug 20, 2024 | Honeysett Kimberley E.SVP and CLO | Sale | 2,578 | $12.53 | $32.3K | Form 4 |
| Aug 12, 2024 | Maheshwari ShubhamChief Financial Officer | Buy | 10,000 | $10.82 | $108.2K | Form 4 |
| Aug 9, 2024 | Maheshwari ShubhamChief Financial Officer | Buy | 9,007 | $10.98 | $98.9K | Form 4 |
| Mar 15, 2024 | Honeysett Kimberley E.SVP and CLO | Sale | 2,860 | $17.37 | $49.7K | Form 4 |
| Nov 22, 2023 | Honeysett Kimberley E.SVP and CLO | Sale | 6,174 | $19.72 | $121.8K | Form 4 |
| Jun 16, 2023 | Honeysett Kimberley E.SVP and CLO | Sale | 2,909 | $23.20 | $67.5K | Form 4 |
| May 8, 2023 | Kunkel Jay K.Director | Sale | 9,120 | $21.90 | $199.7K | Form 4 |
| Aug 24, 2022 | NAUMANN-ETIENNE RUEDIGERDirector | Sale | 5,000 | $21.60 | $108.0K | Form 4 |
| Aug 18, 2022 | Honeysett Kimberley E.SVP and CLO | Sale | 3,028 | $23.50 | $71.2K | Form 4 |
| Jun 6, 2022 | NAUMANN-ETIENNE RUEDIGERDirector | Sale | 5,207 | $22.62 | $117.8K | Form 4 |
| Dec 29, 2021 | SANYAL SUNNYPresident and CEO | Sale | 31,428 | $32.28 | $1.0M | Form 4 |
| Dec 28, 2021 | SANYAL SUNNYPresident and CEO | Sale | 30,473 | $32.01 | $975.4K | Form 4 |
All 21 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Allspring Global Investments Holdings, LLCSCHEDULE 13G/A, 4 filings Jan 12, 2023 to Oct 7, 202656
- PZENA INVESTMENT MANAGEMENT LLCSCHEDULE 13G/A, 3 filings Oct 15, 2024 to Oct 5, 202657
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Jul 31, 202658
- VANGUARD GROUP INCSCHEDULE 13G/A, 8 filings Feb 10, 2022 to Mar 27, 202659
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 3 filings Feb 9, 2024 to Oct 9, 202560
- BlackRockSCHEDULE 13G/A, 5 filings Feb 7, 2022 to Apr 17, 202561
- COOKE & BIELER LPSCHEDULE 13G/A, 2 filings Feb 13, 2024 to Feb 12, 202562
- SHAPIRO CAPITAL MANAGEMENT LLCSCHEDULE 13G, 5 filings Oct 7, 2021 to Nov 14, 202463
- Janus Henderson Group Ltd.SC 13G/A, 2 filings Feb 13, 2023 to Feb 12, 202464
- State Street CorporationSC 13G/A, 2 filings Feb 3, 2023 to Jan 23, 202465
- Wells FargoSC 13G/A, 1 filing Jan 27, 202266
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Sunny S. SanyalPresident and Chief Executive Officer | 61 | $815.8K | $4.6M67 |
| 2025 | Shubham MaheshwariChief Financial Officer | $534.9K | $1.9M67 | |
| 2025 | Kimberley E. Honeysett Former SVP, CLO and Corporate Secretary | $420.9K | $1.3M67 | |
| 2025 | Andrew J. HartmannSVP and General Manager, Detectors | $494.6K | $1.3M67 | |
| 2025 | Mark S. Jonaitis SVP and General Manager, X-Ray Sources | $405.9K | $1.2M67 | |
| 2024 | Sunny S. SanyalPresident and Chief Executive Officer | 61 | $791.4K | $4.7M67 |
| 2024 | Shubham MaheshwariChief Financial Officer | $515.8K | $1.7M67 | |
| 2024 | Kimberley E. Honeysett Former SVP, CLO and Corporate Secretary | $408.5K | $1.2M67 | |
| 2024 | Mark S. Jonaitis SVP and General Manager, X-Ray Sources | $393.5K | $1.2M67 | |
| 2024 | Andrew J. HartmannSVP and General Manager, Detectors | $412.5K | $1.1M67 | |
| 2023 | Sunny S. SanyalPresident and Chief Executive Officer | 61 | $766.5K | $4.5M67 |
| 2023 | Shubham MaheshwariChief Financial Officer | $492.5K | $1.5M67 | |
| 2023 | Kimberley E. Honeysett Former SVP, CLO and Corporate Secretary | $395.4K | $1.1M67 | |
| 2023 | Andrew J. HartmannSVP and General Manager, Detectors | $399.6K | $1.1M67 | |
| 2023 | Mark S. Jonaitis SVP and General Manager, X-Ray Sources | $393.5K | $1.1M67 |
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Federal contracts $45.5M
Figures by year
| Year | Federal contracts | Total |
|---|---|---|
| 2026 | $2.8M | $2.8M |
| 2025 | $6.7M | $6.7M |
| 2024 | $4.6M | $4.6M |
| 2023 | $4.9M | $4.9M |
| 2022 | $4.3M | $4.3M |
| 2021 | $5.6M | $5.6M |
| 2020 | $5.1M | $5.1M |
| 2019 | $5.0M | $5.0M |
| 2018 | $5.7M | $5.7M |
| 2017 | $735.2K | $735.2K |
Federal awards
Obligated amounts from USAspending.gov68, by calendar year, 2017–2026, for 4 registered units, including subsidiaries under the same parent. Obligations are what agencies committed, not always what was paid out. Contracts pay for goods and services; grants, loans and direct payments are assistance. Loans are charted at the face value of the loans listed here. An award’s amount below is its lifetime total, and some began before the years charted.
Largest contracts
- Aug 31, 2024$9.7M from U.S. Customs and Border Protection: Preventative and corrective maintenance of radiation detection equipment (rde) and large scale (ls) non- intrusive inspection (nii) equipmen69 To VAREX IMAGING CORP Award 70B04C24C00000097
- Jul 1, 2021$4.9M from U.S. Customs and Border Protection: Varex imaging support and on demand services.70 To VAREX IMAGING CORP Award 70B04C21F00000693
- Jul 1, 2020$4.5M from U.S. Customs and Border Protection: Varex imaging support and on demand services.71 To VAREX IMAGING CORP Award 70B04C20F00000618
- Jul 1, 2023$4.4M from U.S. Customs and Border Protection: Task order for the nii corrective and preventative maintenance program72 To VAREX IMAGING CORP Award 70B04C23F00000618
- Jul 1, 2019$4.4M from U.S. Customs and Border Protection: Igf::cl::igf varex imaging support support services.73 To VAREX IMAGING CORP Award 70B04C19F00000365
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Varex Imaging Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARVarex Imaging Corp1
- CIK0001681622
- Employer ID (EIN)81-34345166
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
- Incorporated inDelaware6
- Fiscal year endsOctober 21
- Industry code (SIC)3679 Electronic Components, NEC1
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
- Business address1678 S. Pioneer Road, Salt Lake City, UT 841041
- Phone801-972-50001
- Shares outstanding42,100,000 as of Aug 3, 202614
- Public float$339.3M as of Apr 4, 20256
- AuditorDeloitte & Touche LLP, Salt Lake City, Utah PCAOB ID 34; it also attests to the company’s internal control over financial reporting6
- On EDGAR sinceAug 11, 20161
- Filings536 in all: 4 (237), 8-K (84), 10-Q (30), 3 (26), SC 13G/A (23), DEFA14A (16), SC 13G (16), 144 (15)1
All 30 form types
4/A (11), SCHEDULE 13G/A (10), 10-K (9), DEF 14A (9), SD (9), UPLOAD (6), S-8 (5), 10-12B/A (4), 5 (4), 8-K/A (4), CORRESP (3), SCHEDULE 13G (3), ARS (2), NT 10-Q (2), 10-12B (1), CERTNAS (1), CT ORDER (1), DEFM14A (1), NT 10-K (1), PRE 14A (1), PREM14A (1), S-8 POS (1)
- Latest filingsAnnual report (10-K) Nov 18, 2025
Quarterly report (10-Q) Aug 10, 2026
Proxy statement (DEF 14A) Dec 29, 2025
Latest 8-K (8-K) Aug 10, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock | VREX | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Nov 18, 2025 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
The risks Varex Imaging Corp names in Item 1A of its 10-K filed Nov 18, 2025: 29 risks under these headings, as written.6
- Risks Relating to Our Business
- Our business has in the past been, is currently being, and in the future may be, negatively impacted by changes in import/export regulatory regimes, tariffs, trade wars, and national policies, including exemptions thereto.
- We sell our products and services to a limited number of OEM customers, many of which are also our competitors, and a delay in an order to a future period, as well as a reduction in or loss of business of one or more of these customers has in the past and may in the future materially reduce our sales.
- Customer-driven changes in order forecasts is a frequent occurrence that has created and continues to create challenges for us in accurately predicting the demand or delivery schedules for our products.
- We compete in highly competitive industries, and we are subject to pricing pressures and other factors that have in the past and may in the future result in margin erosion and loss of customers.
- Our success depends on meeting our customers' needs and demands.
- Our success depends on the successful development, introduction, and commercialization of new generations of products and enhancements to or simplifications of existing product lines.
- More than half of our revenue is currently generated from customers located outside the United States, and is subject to global, regional, and country-specific economic instability, shifting political environments, changing tax treatment, tariffs, trade wars and other risks associated with international manufacturing, operations, and sales.
- We may be unable to complete future acquisitions or joint ventures or realize expected benefits from acquisitions of or investments in new businesses and joint ventures, products, or technologies, which could harm our business.
- Legal proceedings may materially and adversely affect our business, results of operations, or cash flows.
- Product defects or misuse may result in material product or other liability or professional errors and omissions claims, litigation, investigation by regulatory authorities, or product recalls.
- Risks Relating to the Manufacture of our Products
The other 19 risks
- Supply chain disruptions, including the loss of a supplier, and any inability to obtain raw materials or supplies of important components due to inflation have impacted our ability to manufacture products, have caused delays in our ability to deliver products, and have increased our costs and may continue to do so.
- Our operations are vulnerable to interruption or loss due to natural or other disasters, the adverse effects of climate change, power loss, strikes, and other events beyond our control.
- If we are not able to match our manufacturing capacity with demand for our products, our financial results may suffer.
- Demand for our security, industrial, and inspection products tend to be unpredictable, leading to volatility in our revenues and earnings.
- Risks Relating to our Information Systems and Intellectual Property
- Disruption of critical information systems or material breaches in the security of our systems may materially and adversely affect our business and customer relations.
- Our competitive position would be harmed if we are not able to maintain or defend our intellectual property rights, and protecting our intellectual property and defending against infringement claims can be costly.
- Risks Relating to Our Legal and Regulatory Environment
- Compliance with United States laws and regulations applicable to the marketing, manufacturing, and distribution of our products may be costly, and failure or delays in obtaining regulatory clearances or approvals, or failure to comply with applicable laws and regulations could harm our business.
- Compliance with foreign laws and regulations applicable to the marketing, manufacturing, and distribution of our products may be costly, and failure to comply may result in unfavorable legal proceedings, in significant penalties and other harm to our business.
- We are subject to federal, state, and foreign laws governing our business practices which, if violated, could result in substantial penalties. Additionally, challenges to or investigations into our practices could cause adverse publicity and be costly to respond to and thus could harm our business.
- A change in the percentage of our total earnings from international sales, changes in our international activities, or additional changes in tax laws could increase our effective tax rate.
- We sell certain X-ray tube products as replacements which are subject to medical device certification and product registration laws and regulations that vary by country and are subject to change, and we may be unable to receive registration approval or renewal of existing registrations.
- Existing and future healthcare reforms and changes to reimbursement rates may indirectly have a material adverse effect on our business and results of operations.
- Certain of our products are subject to regulations relating to use of radioactive material, compliance with which may be costly, and a failure to comply with these regulations may materially and adversely affect our business.
- Environmental laws impose compliance costs on our business and may also result in liability.
- Risks Relating to Our Indebtedness
- The Credit Agreement and the indenture governing our Senior Secured Notes impose significant operating and financial restrictions that may limit our current and future operating flexibility, particularly our ability to respond to changes in the economy or our industry or to take certain actions, which could harm our long-term interests and may limit our ability to make payments on the notes.
- Our ability to continue to have the necessary liquidity to operate our business may be adversely impacted by a number of factors, and a deterioration of our results of operations and cash flow resulting from decreases in customer spending, could, among other things, impact our ability to comply with the consolidated fixed charge coverage ratio and the consolidated total net leverage ratio contained in our Revolving Credit Facility.
- General Risks
- Failure to maintain effective internal controls and procedures and changes in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting matters, could negatively impact us.
- We have incurred, and may in the future incur, impairment charges related to our goodwill, which could have an adverse effect on our financial condition and results of operations.
- If we are unable to retain, attract, expand, integrate, and train our management team and other key personnel, we may not be able to maintain or expand our business.
Legal proceedings
We are subject to various claims, complaints, and legal actions in the normal course of business from time to time. The resolution of such claims, complaints, and legal actions is subject to significant uncertainty and may be expensive, time consuming and disruptive to our operations. At the present time, we do not believe we have any current or pending litigation for which the outcome could have a material adverse effect on our operations or financial position. See, also, Note 16, Commitments and Contingencies, included in the accompanying Notes to the Consolidated Financial Statements.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 28SEC EDGARKathleen Bardwell, Board member
- 29SEC EDGARTimothy E. Guertin, Board member
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- 31SEC EDGARElisha W. Finney, Board member
- 32SEC EDGARJohn W. Kuo, Board member
- 33SEC EDGARChristine A. Tsingos, Board member
- 34SEC EDGARDow R. Wilson, Board member
- 35SEC EDGARErich R. Reinhardt, Board member
- 36SEC EDGARJay K. Kunkel, Board member
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- 38SEC EDGARJocelyn D. Chertoff, Board member
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- 41SEC EDGARResults of operations
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- 43SEC EDGARResults of operations
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- 45SEC EDGARShareholder vote
- 46SEC EDGARResults of operations
- 47SEC EDGARResults of operations
- 48SEC EDGARExecutive or director change
- 49SEC EDGARResults of operations
- 50SEC EDGARResults of operations
- 51SEC EDGARRegulation FD disclosure
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- 68USAspending.govUSAspending.gov recipient profile: DIRECT CONVERSION AB
- 69USAspending.gov70B04C24C00000097: U.S. Customs and Border Protection
- 70USAspending.gov70B04C21F00000693: U.S. Customs and Border Protection
- 71USAspending.gov70B04C20F00000618: U.S. Customs and Border Protection
- 72USAspending.gov70B04C23F00000618: U.S. Customs and Border Protection
- 73USAspending.gov70B04C19F00000365: U.S. Customs and Border Protection