MIR · CIK 0001809987
What Mirion Technologies, Inc. told the SEC could break it.
Mirion's disclosures center on its international footprint and the controls that govern its radiation-detection products. About 37% of revenue comes from outside North America — France alone exceeds 10% — with production spread across eight countries, exposing it to currency and cross-border risk. Those products are subject to U.S., Canadian, French, U.K., and EU export-import controls and OFAC sanctions, where licenses may be required depending on destination and end-use, and its international sales face tariffs, trade barriers, and U.S.-China and Russia trade tensions. It also relies on third-party suppliers — some sole or limited-source due to unique design or technology — leaving it exposed to price volatility and supply disruption.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Geographic concentration
- international 37% of revenue; France >10%; 8-country productionmedium
Mirion's revenue and production are internationally distributed — ~37% of sales outside North America, France individually >10% of revenue, and production across the US, Canada, France, Germany, Belgium, Estonia, Finland and the UK — exposing it to FX and cross-border risk.
“Revenues in France were $ 193.7 million, $ 181.5 million, and $ 155.4 million for the fiscal years ended December 31, 2025, December 31, 2024 and December 31, 2023, respectively. No other country generated more than 10% of revenue individually.”
SEC filing →As of 2026
Regulatory & policy
- export/import controls (OFAC) + tariffs on radiation-detection productsmedium
Mirion's radiation-detection products are subject to US/Canada/France/UK/EU export-import controls and OFAC sanctions (licenses may be required by destination/end-use), and ~37% international revenue is exposed to tariffs, trade barriers and US-China/Russia trade tensions.
“Our products and technologies are subject to export and import controls under United States, Canada, France, the United Kingdom and European Union laws. Export licenses, permits or other authorizations from government export control authorities may be required depending on the product, technology, destination, end-user and end-use.”
SEC filing →As of 2026
Sole-source dependency
- sole/limited-source suppliers for manufacturing (unique design/technology)medium
Mirion relies on third-party suppliers — including sole or limited-source suppliers (due to quality, cost, availability, contracts or unique design/technology) — for its manufacturing, exposing it to price volatility and supply disruption.
“We rely on third party suppliers for our manufacturing operations including from sole or limited source suppliers due to quality assurance, cost effectiveness, availability, contractual obligations or unique design or technology.”
SEC filing →As of 2026
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