v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company manages its operations through two operating and reportable segments: Nuclear & Safety and Medical. These segments align the Company’s products and service offerings to customers and are consistent with how the Company’s Chief Executive Officer, its Chief Operating Decision Maker (“CODM”), reviews and evaluates the Company’s operations. The CODM allocates resources and evaluates the financial performance of each operating segment using operating income (loss). The Company’s segments are strategic businesses that are managed separately because each one develops, manufactures, and markets distinct products and services.
Description of Segments
The Nuclear & Safety segment provides radiation detection equipment for power plants, labs and research facilities and industrial and defense applications. Nuclear products are concentrated in power plant product offerings that are used for the full nuclear power plant lifecycle including core detectors and essential measurement devices for new build, maintenance, decontamination and decommission equipment for monitoring and control during fuel dismantling, and remote environmental monitoring. Labs and research and other (primarily industrial and defense) are focused on the area of personal radiation detection for various safety and security requirements.

The Medical segment provides solutions focused on ensuring safety of equipment and personnel in the medical field. The primary product category relates to Cancer Care applications, including radiation oncology quality assurance, delivering patient safety solutions for diagnostic imaging and radiation therapy centers around the world, radiation therapy quality assurance solutions for calibrating and verifying imaging and treatment accuracy, and radionuclide therapy products for nuclear medicine applications such as product handling and medical imaging furniture. Other Medical segment products include dosimetry solutions for monitoring the total amount of radiation medical staff members are exposed to over time.

The CODM evaluates operating results and allocates capital resources between segments based on segment operating income (loss). Interest income and expense, loss (benefit) from income taxes, foreign currency loss (gain), net, other expense (income), net, and, if applicable, other items such as loss on debt extinguishment, are not allocated to segments.
The following tables summarize information about revenue, significant segment expenses, other segment items, and segment income (loss) from operations for each reportable segment (in millions). Reconciliation of consolidated segment income (loss) from operations to consolidated income before income taxes is shown in the Total column of each table.

Three Months Ended June 30, 2026
Nuclear & SafetyMedicalTotal
Revenues$186.2 $80.6 $266.8 
Less:
Adjusted cost of revenues (1)
93.3 26.5 119.8 
Other segment items (2)
66.9 39.3 106.2 
Segment income from operations$26.0 $14.8 $40.8 
Other loss (3)
(22.9)
Income from operations17.9 
Less other expense (income):
Interest expense8.4 
Interest income (2.6)
Foreign currency loss, net1.0 
Other income, net(0.2)
Consolidated income before income taxes$11.3 

Three Months Ended June 30, 2025
Nuclear & SafetyMedicalTotal
Revenues$141.7 $81.2 $222.9 
Less:
Adjusted cost of revenues (1)
77.8 29.6 107.4 
Other segment items (2)
44.9 40.7 85.6 
Segment income from operations$19.0 $10.9 $29.9 
Other loss (3)
(20.0)
Income from operations9.9 
Less other expense (income):
Interest expense11.8 
Interest income (2.0)
Loss on debt extinguishment5.8 
Foreign currency gain, net(13.5)
Other income, net— 
Consolidated income before income taxes$7.8 
Six Months Ended June 30, 2026
Nuclear & SafetyMedicalTotal
Revenues$371.7 $152.7 $524.4 
Less:
Adjusted cost of revenues (1)
192.8 51.9 244.7 
Other segment items (2)
132.0 78.2 210.2 
Segment income from operations$46.9 $22.6 $69.5 
Other loss (3)
(47.9)
Income from operations21.6 
Less other expense (income):
Interest expense16.8 
Interest income (6.0)
Foreign currency loss, net4.7 
Consolidated income before income taxes$6.1 

Six Months Ended June 30, 2025
Nuclear & SafetyMedicalTotal
Revenues$275.1 $149.8 $424.9 
Less:
Adjusted cost of revenues (1)
147.0 54.1 201.1 
Other segment items (2)
87.4 78.1 165.5 
Segment income from operations$40.7 $17.6 $58.3 
Other loss (3)
(39.7)
Income from operations18.6 
Less other expense (income):
Interest expense24.3 
Interest income (3.9)
Loss on debt extinguishment5.8 
Foreign currency gain, net(16.3)
Other expense, net0.3 
Consolidated income before income taxes$8.4 
(1) Adjusted cost of revenues is a significant expense category, and amounts align with the segment-level information that is regularly provided to the CODM. Adjusted cost of revenues is defined by management as cost of revenues adjusted for purchase accounting impacts and excluding depreciation, amortization, and other segment expenses identified as non-operating by management.
(2) Other segment items included in segment income (loss) from operations for each segment include research and development expenses; selling and marketing expenses; general and administrative expenses; and any amounts excluded from cost of revenues to determine adjusted costs of revenues (e.g., depreciation, amortization, and other segment expenses identified as non-operating by management).
(3)Other loss consists of research and development expenses; selling and marketing expenses; and general and administrative expenses not allocated to the segments.
The following table summarizes capital expenditures and depreciation and amortization for each reportable segment (in millions):
Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Capital expenditures
Nuclear & Safety$4.4 $4.8 $9.2 $8.3 
Medical5.8 3.8 9.5 8.5 
Total operating and reportable segments10.2 8.6 18.7 16.8 
Corporate and other1.5 0.8 2.2 1.2 
Total capital expenditures$11.7 $9.4 $20.9 $18.0 
Depreciation and amortization
Nuclear & Safety$22.9 $17.3 $47.2 $34.2 
Medical15.6 16.3 31.8 32.7 
Total operating and reportable segments38.5 33.6 79.0 66.9 
Corporate and other0.3 0.3 0.6 0.6 
Total depreciation and amortization$38.8 $33.9 $79.6 $67.5 
The Company’s assets by reportable segment were not included, as this information is not reviewed by, nor otherwise provided to, the chief operating decision maker to make operating decisions or allocate resources.
The following details revenues by geographic region. Revenues generated from external customers are attributed to geographic regions through sales from site locations (i.e., point of origin) (in millions).
Revenues
Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
North America
Nuclear & Safety$106.0 $66.1 $216.2 $134.9 
Medical73.1 72.8 137.9 134.8 
Total North America179.1 138.9 354.1 269.7 
Europe
Nuclear & Safety77.6 73.4 148.2 132.2 
Medical7.5 8.4 14.8 15.0 
Total Europe85.1 81.8 163.0 147.2 
Asia Pacific
Nuclear & Safety2.6 2.2 7.3 8.0 
Medical— — — — 
Total Asia Pacific2.6 2.2 7.3 8.0 
Total Revenues$266.8 $222.9 $524.4 $424.9 
The following details revenues by product for each segment (in millions):
Revenues
Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Nuclear & Safety segment:
Nuclear$118.1 $82.1 $243.9 $166.3 
Labs and research29.1 27.4 57.4 54.2 
Other39.0 32.2 70.4 54.6 
Medical segment:
Cancer care62.8 62.2 118.1 111.1 
Other17.8 19.0 34.6 38.7 
Total Revenues$266.8 $222.9 $524.4 $424.9 
The following details revenues by timing of recognition (in millions):
Revenues
Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Point in time$171.8 $152.4 $339.6 $282.3 
Over time95.0 70.5 184.8 142.6 
Total revenues$266.8 $222.9 $524.4 $424.9 

The following details property, plant, and equipment, net, by geography (in millions):
Property, Plant, and Equipment, Net
June 30, 2026December 31, 2025
North America$98.3 $93.4 
Europe56.7 61.4 
Asia Pacific0.1 0.1 
Total$155.1 $154.9