Mirion Technologies, Inc. (NYSE:MIR) Q1 2024 Earnings Call Transcript

Tom Logan: We see that as a very solid foundation and for many decades that has been the case, and we don’t see that base, that foundation, that historical presence. Not only in the American DOE space, but globally in many of the comp analogs, we see that continuing. But when we look at what is beyond that in the life sciences space where kind of the core of what we do there is to develop and field very, very accurate spectroscopic instruments that are – that have a very high degree of resolution and are incredibly important for understanding the composition of unknown samples. But we see the ability to extend that further. And a good example would be nuclear medicine, whereas we are seeing an evolution in therapeutic strategies, in particular, a shift towards an acutely elevated focus on alpha emitters, where there is a tremendous opportunity, I think to bring our unparalleled gamma spectroscopy capabilities to bear in a way that would actually improve clinical efficiency and safety.

So, our view is that over time, that we see many opportunities to really kind of build beyond that base that historical DOE-related base in this space overall.

Yuan Zhi: Got it. Thank you so much for taking our questions.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Tom Logan for any closing remarks.

Tom Logan: Ladies and gentlemen, thank you for participating today. Let me just wrap up with a few closing comments. Firstly, we continue to see very strong demand and engagement across our end markets. We are well positioned to take advantage of these positive macro trends driving growth, and we are committed to superior execution. Our financial performance for Q1 was in line with our expectations, and I am proud of the execution within our technologies business and the resulting adjusted EBITDA margin expansion we reported today. We remain focused on improving our free cash flow dynamics heading into the rest of ‘24 and beyond. We continue to expect to be cash flow positive in the first half of the year and have reiterated our cash flow guide for the full year.

Overall, I am proud of our first quarter results and believe the business is solidly on track to deliver the year. We look forward to updating you with our second quarter results in a few months. So, again, thank you for participating today. And operator, that will conclude the call.

Operator: The conference has now concluded. Thank you for attending today’s presentation and you may now disconnect.