Key Investor TakeawaysVarex Imaging (NASDAQ:VREX) reported Q3 FY2026 revenue of $211 million, up 4% year over year, with Industrial revenue reaching $77 million and Medical revenue at $134 million. Non-GAAP gross margin expanded to 37% from 34%, while non-GAAP EPS increased to $0.31 from $0.13 a year earlier. IEEPA tariff refunds and expected customer reimbursements increased quarterly gross profit by approximately $10 million, making the underlying margin picture important for investors to assess. Non-GAAP gross margin rose to 37% from 34% in the prior-year quarter, while non-GAAP operating margin reached 12%. Varex received $17 million in refunds from U.S. Customs for previously paid IEEPA tariffs and recorded the $7 million revenue reduction for expected customer reimbursements.