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    Shivan Seratva

    Research Analyst at Robert W. Baird & Co.

    Shivan Seratva is an Equity Research Analyst at Robert W. Baird & Co., specializing in sector analysis and investment research for clients across a range of industries. With coverage that typically spans companies in areas such as technology, industrials, and consumer sectors, Seratva is recognized for providing detailed insights and actionable recommendations that drive portfolio performance. He began his career in equity research in the 2010s and joined Baird after previous experience with leading financial firms, establishing a solid analytical reputation over the years. Seratva holds key professional credentials, including FINRA securities licenses, and is known among clients and colleagues for his thorough research process and consistent value-added analysis.

    Shivan Seratva's questions to Mirion Technologies (MIR) leadership

    Shivan Seratva's questions to Mirion Technologies (MIR) leadership • Q4 2024

    Question

    Shivan Seratva, on behalf of R.W. Baird, asked for color on the drivers behind the 2025 adjusted EBITDA margin expansion and inquired about any early traction from the Siemens Healthineers partnership.

    Answer

    CFO Brian Schopfer attributed the guided margin expansion to a mix of operating leverage, procurement savings, and efficiencies from facility consolidations, with growth expected across both segments. CEO Tom Logan described the Siemens Healthineers relationship as being in its early days, with Mirion's software now in the Siemens price book. He clarified that the 2025 outlook assumes almost no incremental revenue from the deal, meaning any significant commercial traction would represent upside to the current guidance.

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