Varex Imaging Corporation (VREX) Revenue History
Annual and quarterly revenue from 2014 to present
VREX Revenue Over Time (2014–2025)
VREX Revenue Growth History
7 of 11 years with positive growth- FY2014 revenue growth
- N/A
- FY2015 revenue growth
- -7.7%
- FY2016 revenue growth
- -1.9%
- FY2017 revenue growth
- +12.6%
- FY2018 revenue growth
- +10.8%
- FY2019 revenue growth
- +0.9%
- FY2020 revenue growth
- -5.4%
- FY2021 revenue growth
- +10.8%
- FY2022 revenue growth
- +5.0%
- FY2023 revenue growth
- +4.0%
- FY2024 revenue growth
- -9.2%
- FY2025 revenue growth
- +4.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $216.0M | +1.5% |
| Q1 2026 | $209.6M | +4.9% |
| Q4 2025 | $228.9M | +11.3% |
| Q3 2025 | $203.0M | -2.9% |
| Q2 2025 | $212.9M | +3.2% |
| Q1 2025 | $199.8M | +5.2% |
| Q4 2024 | $205.7M | -9.5% |
| Q3 2024 | $209.1M | -9.9% |
Multi-year avg. share of annual revenue by fiscal quarter
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)
Current Revenue & Growth
As of June 29, 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.
Historical Growth Trajectory
VREX's 5-year compound annual growth rate (CAGR) stands at +2.7%, indicating moderate growth over time. The 3-year CAGR of -0.6% is below the 5-year average, signalling a growth deceleration in recent years. Varex Imaging Corporation's highest annual revenue of $893.4 million was recorded in 2023.
Revenue by Segment
VREX's revenue is primarily driven by Medical Segment (72%), and Industrial Segment (28%). With over half of revenue concentrated in Medical Segment, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including XRAY (-1.0% YoY), NNOX (+15.4% YoY), and ATEC (-7.4% YoY) — VREX has underperformed the peer group in 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 | $13M | +15.4% | - | -466.2% | |
 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% |
| 2015 | $632.3M | -7.7% | $250.6M | 39.6% | $127.5M | 20.2% |
| 2014 | $685.2M | - | $278.6M | 40.7% | $176.0M | 25.7% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
12+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
VREX — 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 is slowing. TTM revenue is $858M, up +1.5% year-over-year — below the 5-year CAGR of +2.7%. The deceleration suggests maturing end-markets or increased competition.
What is VREX's revenue history from 2014 to 2026?
Varex Imaging Corporation (VREX) revenue history spans 2014 to 2026. TTM revenue as of 2026 is $858M, growing at +1.5% YoY. The 5-year CAGR is +2.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is VREX's long-term revenue growth rate (CAGR)?
Varex Imaging Corporation's 5-year revenue CAGR of +2.7% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +1.5% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for VREX.
Why does VREX's quarterly revenue fluctuate?
VREX quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Varex Imaging Corporation's revenue data from 2014 to 2026 shows full historical quarterly detail on this page.
How is VREX's revenue distributed by segment?
VREX reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does VREX's revenue compare to industry peers?
Varex Imaging Corporation (VREX) with TTM revenue of $858M and +1.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.