Total Q2 grew 20% to $266.8M, with Nuclear & Safety up 31% to $186.2M on acquisitions (Paragon, Certrec) and , while Medical slipped 1% to $80.6M on Asia-Pacific tariff and dosimetry volume declines.
increased 30% to $133.1M, with in both segments from positive mix, though Nuclear & Safety cost of revenues rose $19.1M on acquisition costs and inflation.

SG&A jumped 27% to $105.1M, driven by $20.5M higher Nuclear & Safety costs from acquired entities and a $3.7M increase in corporate costs for stock compensation and a new AI function.

fell slightly to $8.1M from $8.5M, as a $1.0M foreign currency loss replaced a $13.5M gain in the prior year, and higher and compensation costs offset growth and lower .

rose 28% to $65.3M, with Nuclear & Safety contributing $51.0M and Medical $31.1M, reflecting strong from acquisitions and margin improvement.

Liquidity remained robust with $421.6M in cash and $162.4M available on the ; improved to $77.4M for the half, and stood at $1,138.6M.

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Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures about Market Risk We have no material changes to the disclosures on this matter for the three months ended June 30, 2026, than from the disclosures made in our Annual Report on Form 10-K for the year ended December 31, 2025.

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Legal Proceedings

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Due to the nature of our activities, we are at times subject to pending and threatened legal actions that arise out of the ordinary course of business. For information regarding legal proceedings and other claims in which we are involved, see Note 11, Commitments and Contingencies, to the unaudited Condensed Consolidated Financial Statements included elsewhere in this Quarterly Report on Form 10-Q. The disposition of any such currently pending or threatened matters is not expected to have a material effect on our business, results of operations or financial condition. However, the results of legal actions cannot be predicted with certainty. Therefore, it is possible that our business, results of operations and financial condition could be materially adversely affected in any particular period by the unfavorable resolution of one or more legal actions. Regardless of the outcome, litigation can have an adverse impact on our business because of defense and settlement costs, diversion of management resources and other factors. In addition, the expense of litigation and the timing of this expense from period to period are difficult to estimate, subject to change and could adversely affect our consolidated financial statements.

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Risk Factors

Trade tariffs, geopolitical tensions, and AI risks could materially raise costs, disrupt supply, and reduce demand.

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Tariffs, export controls, and localization mandates (especially U.S.-China) threaten to increase manufacturing costs and limit access to end markets.
International sales made up 32.9% of Q2 2026 , exposing the company to foreign trade barriers and retaliatory measures.
Geopolitical conflicts, including Iran-related tensions, are fueling economic uncertainty, energy-market volatility, and potential project delays.
Use of AI and machine learning in operations creates liability, regulatory, and reputational risks from inaccurate outputs, security flaws, and IP issues.
Rapidly evolving AI laws (e.g., EU AI Act, U.S. state laws) may impose costly compliance obligations and restrict AI deployment.

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