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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
During the year ended December 31, 2024, the Company renamed its Technologies segment as "Nuclear & Safety."
The Company manages its operations through two operating and reportable segments: Medical and Nuclear & Safety. 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. The company has adopted ASU 2023-07 "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" in the current year and applied to prior period information retrospectively as required by the standard.
Description of Segments

The Medical segment provides solutions focused on ensuring safety of equipment and personnel in the medical field. The primarily 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 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 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 (loss) before income taxes is shown in the Total column of each table.
Fiscal Year Ended December 31, 2024
 MedicalNuclear & SafetyTotal
Revenues$299.7 $561.1 $860.8 
Less:
Adjusted cost of revenues1
108.7 300.4 409.1 
Other segment items2
168.7 181.8 350.5 
Segment income from operations$22.3 $78.9 $101.2 
Other loss3
(76.4)
Income from operations24.8 
Less other expense (income):
Third-party interest expense57.9 
Third-party interest income(6.6)
Foreign currency loss, net2.2 
Increase in fair value of warrant liabilities5.3 
Other income, net(0.1)
Consolidated loss before income taxes$(33.9)
Fiscal Year Ended December 31, 2023
 MedicalNuclear & SafetyTotal
Revenues$284.5 $516.4 $800.9 
Less:
Adjusted cost of revenues1
107.3 289.6 396.9 
Other segment items2
164.2 180.8 345.0 
Segment income from operations$13.0 $46.0 $59.0 
Other loss3
(80.9)
Loss from operations(21.9)
Less other expense (income):
Third-party interest expense61.9 
Third-party interest income(4.8)
Loss on debt extinguishment2.6 
Foreign currency gain, net(0.3)
Increase in fair value of warrant liabilities24.8 
Other income, net(0.8)
Consolidated loss before income taxes$(105.3)
Fiscal Year Ended December 31, 2022
 MedicalNuclear & SafetyTotal
Revenues$271.7 $446.1 $717.8 
Less:
Adjusted cost of revenues1
109.7 242.8 352.5 
Other segment items2
260.9 306.4 567.3 
Segment loss from operations$(98.9)$(103.1)$(202.0)
Other loss3
(95.8)
Loss from operations(297.8)
Less other expense (income):
Third-party interest expense42.5 
Third-party interest income(0.6)
Foreign currency loss, net4.9 
Decrease in fair value of warrant liabilities(37.6)
Other income, net(0.4)
Consolidated loss before income taxes$(306.6)
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 Company’s assets by reportable segment were not included, as this information is not reviewed by, nor otherwise provided to, the CODM to make operating decisions or allocate resources.
The following table summarizes capital expenditures and depreciation and amortization for each reportable segment (in millions).
Fiscal Year Ended December 31, 2024
Fiscal Year Ended December 31, 2023
Fiscal Year Ended December 31, 2022
Capital expenditures
Medical$27.8 $21.8 $22.6 
Nuclear & Safety17.7 18.0 11.6 
Total operating and reportable segments45.5 39.8 34.2 
Corporate and other3.3 1.0 0.4 
Total capital expenditures$48.8 $40.8 $34.6 
Depreciation and amortization
Medical$73.0 $75.2 $82.4 
Nuclear & Safety76.7 86.9 91.1 
Total operating and reportable segments149.7 162.1 173.5 
Corporate and other0.7 0.7 1.0 
Total depreciation and amortization$150.4 $162.8 $174.5 
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
Fiscal Year Ended December 31, 2024
Fiscal Year Ended December 31, 2023
Fiscal Year Ended December 31, 2022
North America
Medical$271.9 $258.1 $252.0 
Nuclear & Safety270.3 254.2 210.7 
Total North America542.2 512.3 462.7 
Europe
Medical27.8 26.4 19.7 
Nuclear & Safety277.8 245.7 222.1 
Total Europe305.6 272.1 241.8 
Asia Pacific
Medical— — — 
Nuclear & Safety13.0 16.5 13.3 
Total Asia Pacific13.0 16.5 13.3 
Total Revenues$860.8 $800.9 $717.8 
Revenues generated in the United States were $497.9 million, $476.0 million, and $429.6 million for the fiscal years ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively. Revenues in France were $181.5 million, $155.4 million, and $142.1 million for the fiscal years ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively. No other country generated more than 10% of revenue individually.
The following details revenues by timing of recognition (in millions):
Revenues
Fiscal Year Ended December 31, 2024
Fiscal Year Ended December 31, 2023
Fiscal Year Ended December 31, 2022
Point in time$567.0 $496.0 $485.9 
Over time293.8 304.9 231.9 
Total revenues$860.8 $800.9 $717.8 
The following details revenues by product for each segment (in millions). The Company updated the categorization of its products to better align with the markets driving demand. The revenues by product information has been recast for all prior periods presented.
Revenues
Fiscal Year Ended December 31, 2024
Fiscal Year Ended December 31, 2023
Fiscal Year Ended December 31, 2022
Medical segment:
Cancer care$228.1 215.9 $206.0 
Other71.6 68.6 65.8 
Nuclear & Safety segment:
Nuclear316.6 291.8 254.2 
Labs and research131.7 122.9 103.1 
Other112.8 101.7 88.7 
Total Revenues$860.8 $800.9 $717.8 
The following details property, plant, and equipment, net, by geography (in millions):
Property, Plant, and Equipment, Net
December 31, 2024
December 31, 2023
North America$91.5 $82.9 
Europe54.7 51.5 
Asia Pacific0.1 0.1 
Total$146.3 $134.5