---
schema_version: "secwatch.filing_event.v1"
accession: "0001681622-23-000012"
form_type: "8-K"
ticker: "VREX"
cik: "0001681622"
company_name: "Varex Imaging Corp"
filed_at: "2023-01-31T23:59:59+00:00"
generated_at: "2026-06-20T05:30:42.176405+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Varex Q1 revenue $206M, down 11% sequential; Non-GAAP EPS $0.21; Q2 guidance soft

## Summary
- Revenue $206M (-11% QoQ, +3% YoY); Medical $160M, Industrial $46M.
- GAAP EPS $0.08; Non-GAAP EPS $0.21 (down from $0.42 prior quarter).
- Non-GAAP gross margin 32% vs 33% in Q4 FY22.
- Q2 FY23 guidance: revenue $205M-$225M; Non-GAAP EPS $0.05-$0.25.
- Operating cash flow -$4M on higher inventory and annual incentive payments.

## SEC filing metadata
- accession: 0001681622-23-000012
- form_type: 8-K
- ticker: VREX
- cik: 0001681622
- company_name: Varex Imaging Corp
- filed_at: 2023-01-31T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681622/000168162223000012/0001681622-23-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681622/000168162223000012/vrex-20230131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001681622-23-000012
- JSON: https://secwatch.observer/filing/0001681622-23-000012.json
- Plain text: https://secwatch.observer/filing/0001681622-23-000012.txt

## Key facts
- Earnings Releases
  Varex Imaging Corp reported first quarter of fiscal year 2023 ended December 30, 2022 results: revenue $206 million, EPS $0.08. Guidance initiated.
  - Period: first quarter of fiscal year 2023 ended December 30, 2022
  - Revenue: $206 million
  - EPS: $0.08
  - Guidance: initiated
  - Result: preliminary results
  source text: 1QFY23 Summary • Revenues $206 million • GAAP gross margin 31% | Non-GAAP gross margin* 32% • GAAP operating expense $50 million | Non-GAAP operating expense* $47 million • GAAP operating margin 6% | Non-GAAP operating margin* 9% • GAAP net earnings $0.08 per diluted share | Non-GAAP net earnings* $0.21 per diluted share “Global demand for our products was in line with our expectations, resulting in revenue of $206 million in the first quarter,” said Sunny Sanyal, Chief Executive Officer of Varex. Sanyal added, “However, we are beginning to see some cautiousness from our customers as they assess an uncertain economic environment.” Varex’s revenue of $206 million was down 11% sequentially and up 3% year-over-year. Medical segment revenue of $160 million was down 12% sequentially and up 3% year-over-year. Industrial segment revenue of $46 million was down 9% sequentially and up 5% year-over-year. Non-GAAP gross margin was 32% in the quarter compared to 33% in the fourth quarter of fiscal
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681622/000168162223000012/0001681622-23-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.