Teledyne to acquire Varex Imaging for $18.90 per share as Varex reports Q3 FY2026 revenue growth and higher non-GAAP EPS
- Transaction values Varex at approximately $1.1 billion in all-cash consideration from Teledyne.
- Q3 FY2026 revenue increased 4% to $211 million, with margins boosted by roughly $10 million of IEEPA tariff refunds.
- Non-GAAP EPS rose to $0.31 from $0.13 year over year in Q3 FY2026.
- Varex cancelled its Q3 earnings call and withheld guidance due to the pending Teledyne acquisition.
Alamar Biosciences posts 82% Q2 revenue growth, 60% gross margin and guides FY26 revenue up ~59%
- Q2 2026 non-GAAP EPS -$0.22 and revenue $29.4m both beat analyst estimates.
- Revenue $29.4m up 82% YoY; consumables 53% of revenue, up 147% YoY.
- Gross margin reached 60% versus 53% last year, driven by consumables mix and scale.
- Service/TAP revenue exceeded expectations on large custom projects, but management anticipates slower growth ahead.
- FY26 revenue guided to $116–120m (~59% growth); Q3 only low-single-digit sequential increase.
- Operating loss widened to $13.5m as R&D and SG&A investments more than doubled YoY.
- Company plans to add at least 100 instruments in 2026, keeping pull-through above $400k.
- Neurodegeneration franchise leads growth with Neuro 220 panel and first multiplex blood eMTBR-tau assay.
- Expanded Gates Alzheimer’s partnership covers >140k plasma samples, supporting multi-quarter consumables demand visibility.
- Balance sheet strong with $256m cash and new $60m revolver, plus $40m accordion option.
- Long-term thesis hinges on ARGO HT/DX FDA clearance and clinical diagnostics partnerships, still in development.
- Main concern: accelerating OpEx and lumpy TAP/cohort revenues may pressure profitability and increase earnings volatility near term.
- Strong quarter, driven by surging high-margin consumables and robust adoption of the neurodegeneration proteomics platform.
Neuronetics posts first positive adjusted EBITDA and beats Q2 2026 estimates with non-GAAP EPS -$0.05 on revenue $41.6M
- Q2 revenue grew 9% YoY to $41.6M, driven by 17% Greenbrook growth.
- NeuroStar revenue declined 2.7% to $14.7M as model shifts from sessions to capital.
- Gross margin expanded to 51.1% from 46.6%, led by Greenbrook revenue cycle improvements.
- Net loss shrank to $3.4M ($0.05/share) from $10.1M ($0.15/share) last year.
- Adjusted EBITDA turned positive at $0.3M versus negative $5.6M a year ago.
- 2026 revenue guidance narrowed to $160–$164M, trimming the prior $166M high-end.
- Full-year gross margin outlook raised to 48–50%, and operating expenses guidance lowered meaningfully.
- Management warns NeuroStar revenue may be “choppier” near term as new go-to-market scales.
- Greenbrook retains roughly 40% unused capacity, positioning for psychedelics like COMP360 if approved.
- Main concern: execution risk and potential revenue volatility from the NeuroStar model transition and uncertain timing of psychedelic therapy approvals.
- Strong quarter, driven by Greenbrook clinic growth, margin expansion, and tighter cost control despite NeuroStar transition headwinds.
