Varex Imaging Corporation (VREX) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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VREX Revenue Growth
Revenue Breakdown (FY 2024)
VREX's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
VREX Revenue Analysis (2014–2025)
As of May 8, 2026, Varex Imaging Corporation (VREX) generated trailing twelve-month (TTM) revenue of $857.5 million, reflecting modest growth of +1.5% year-over-year. The most recent quarter (Q2 2026) recorded $216.0 million in revenue, up 3.1% sequentially.
Looking at the longer-term picture, VREX's 5-year compound annual growth rate (CAGR) stands at +2.7%, indicating moderate growth over time. The company achieved its highest annual revenue of $893.4 million in 2023.
Revenue diversification analysis shows VREX's business is primarily driven by Medical Segment (72%), and Industrial Segment (28%). With over half of revenue concentrated in Medical Segment, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including XRAY (-1.0% YoY), NNOX (+15.2% YoY), and ATEC (-7.4% YoY), VREX has underperformed the peer group in terms of revenue growth. Compare VREX vs XRAY →
VREX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| VREXCurrent | $858M | +1.5% | +2.7% | -3.3% | |
 XRAY | $3.7B | -1.0% | +2.0% | 6.8% | |
 NNOX | $11M | +15.2% | - | -502.9% | |
 ATEC | $764M | -7.4% | +39.5% | -10.7% | |
 HOLX | $4.1B | +2.2% | +1.7% | 17.4% | |
 ISRG | $10.1B | +21.4% | +18.2% | 29.3% |
VREX Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $844.6M | +4.1% | $290.5M | 34.4% | $-27,800,000 | -3.3% |
| 2024 | $811.0M | -9.2% | $256.9M | 31.7% | $32.1M | 4.0% |
| 2023 | $893.4M | +4.0% | $290.3M | 32.5% | $77.1M | 8.6% |
| 2022 | $859.4M | +5.0% | $283.5M | 33.0% | $88.2M | 10.3% |
| 2021 | $818.1M | +10.8% | $271.5M | 33.2% | $74.1M | 9.1% |
| 2020 | $738.3M | -5.4% | $190.2M | 25.8% | $-33,700,000 | -4.6% |
| 2019 | $780.6M | +0.9% | $256.7M | 32.9% | $8.2M | 1.1% |
| 2018 | $773.4M | +10.8% | $253.9M | 32.8% | $44.5M | 5.8% |
| 2017 | $698.1M | +12.6% | $253.5M | 36.3% | $83.7M | 12.0% |
| 2016 | $620.1M | -1.9% | $248.4M | 40.1% | $109.1M | 17.6% |
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Start ComparisonVREX — Frequently Asked Questions
Quick answers to the most common questions about buying VREX stock.
Is VREX's revenue growth accelerating or slowing?
VREX revenue growth slowed to +1.5%, below the 5-year CAGR of +2.7%. TTM revenue is $858M. The deceleration marks a shift from historical growth rates.
What is VREX's long-term revenue growth rate?
Varex Imaging Corporation's 5-year revenue CAGR of +2.7% reflects the variable expansion pattern. Current YoY growth of +1.5% is near this long-term average.
How is VREX's revenue distributed by segment?
VREX reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.