Varex Imaging

World’s largest independent supplier of medical x-ray tubes.

Launch date

2016

Employees

501-1000 people

Market cap

Enterprise valuation

AUD1.2b (Public information from Sep 2024)

Salt Lake City Utah (HQ)

http://vareximaging.com

https://twitter.com/vareximaging https://www.facebook.com/vareximaging https://www.linkedin.com/company/varex-imaging-corporation

Revenues, earnings & profits over time

USD	2020	2021	2022	2023	2024	2025	2026
Revenues	738m	818m	859m	893m	805m	826m	863m
% growth	(5 %)	11 %	5 %	4 %	(10 %)	3 %	4 %
EBITDA	(37.6m)	70.7m	84.3m	60.6m	85.8m	98.3m	122m
% EBITDA margin	(5 %)	9 %	10 %	7 %	11 %	12 %	14 %
Profit	(57.1m)	17.4m	30.3m	48.2m	7.6m	20.1m	34.7m
% profit margin	(8 %)	2 %	4 %	5 %	1 %	2 %	4 %
EV / revenue	1.1x	1.4x	1.0x	0.8x	0.6x	0.6x	0.6x
EV / EBITDA	-22.3x	15.9x	10.1x	12.5x	5.9x	5.2x	4.2x
R&D budget	78.9m	71.9m	77.0m	84.8m	-	-	-
R&D % of revenue	11 %	9 %	9 %	9 %	-	-	-

Source: Dealroom estimates

Date	Investors	Amount	Round
-	Nesta Impact Investments Capital A Investment Partners	N/A	-
Jan 2017	N/A	N/A	IPO
Jun 2020*	N/A	$175m	Post IPO Convertible
Mar 2024*	Zions Bancorporation	$155m	Post IPO Debt
Total Funding		-

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