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    RadNet Inc (RDNT)

    Financials

    Updated Apr 2, 2025, 5:52 PM UTC
    Income Statement - MetricQ1 2014Q2 2014Q3 2014FY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Service Fee Revenue (USD, thousands)361,927.00384,932.001,463,197397,189422,745.00427,579.00445,576.001,693,089
    Revenue Under Capitation Arrangements (USD, thousands)40,041.0035,451.00153,43334,51836,969.0033,563.0031,525.00136,575
    Total Service Revenue (USD, thousands)401,968.00420,383.001,616,630431,707459,714.00461,142.00477,101.001,829,664
    Cost of Operations, Excluding Depreciation and Amortization (USD, thousands)341,635.00356,592.001,395,239387,589389,724.00391,800.00411,436.001,580,549
    Lease Abandonment Charges (USD, thousands)--5,146----2,478
    Depreciation and Amortization (USD, thousands)32,210.0032,686.00128,39132,36834,475.0034,979.0036,016.00137,838
    Gain on Contribution of Imaging Centers into Joint Venture (USD, thousands)-0.00(16,808)-----
    Loss on Sale and Disposal of Equipment (USD, thousands)527.001,004.002,187186401.00148.001,541.002,276
    Severance Costs (USD, thousands)1,153.00621.003,778225268.00304.001,105.001,902
    Total Operating Expenses (USD, thousands)358,717.00396,049.001,517,933420,368424,868.00427,231.00452,576.001,725,043
    Income from Operations (USD, thousands)43,251.0024,334.0098,69711,33934,846.0033,911.0024,525.00104,621
    Interest Expense (USD, thousands)16,115.0016,607.0064,48316,26726,082.0019,427.0018,073.0079,849
    Equity in Earnings of Joint Ventures (USD, thousands)(1,084.00)(2,492.00)(6,427)(4,324)(3,389.00)(3,595.00)(3,164.00)(14,472)
    Non-cash Change in Fair Value of Interest Rate Swaps/Hedge (USD, thousands)1,015.007,236.008,185(1,216)1,890.006,755.00577.008,006
    Debt Restructuring and Extinguishment Expenses (USD, thousands)-----147.002,383.0011,292
    Other Income (Expense) (USD, thousands)(4,081.00)(3,745.00)(6,354)(2,934)(7,900.00)(5,414.00)(8,668.00)(24,916)
    Total Other Expenses, Net (USD, thousands)11,965.0017,606.0059,8877,79325,445.0017,320.009,201.0059,759
    Income (Loss) Before Income Taxes (USD, thousands)31,286.006,728.0038,8103,5469,401.0016,591.0015,324.0044,862
    Provision for (Benefit from) Income Taxes (USD, thousands)(7,220.00)(732.00)(8,473)1,864(2,456.00)(4,335.00)(1,099.00)(6,026)
    Net Income (Loss) (USD, thousands)24,066.005,996.0030,3375,4106,945.0012,256.0014,225.0038,836
    Net Income Attributable to Noncontrolling Interest (USD, thousands)6,526.007,856.0027,2938,1899,927.009,047.008,880.0036,043
    Net Income (Loss) Attributable to RadNet, Inc. Common Stockholders (USD, thousands)17,540.00(1,860.00)3,044(2,779)(2,982.00)3,209.005,345.002,793
    Basic Net Income (Loss) Per Share Attributable to RadNet, Inc. Common Stockholders (USD)0.29(0.03)0.05(0.04)(0.04)0.040.080.04
    Diluted Net Income (Loss) Per Share Attributable to RadNet, Inc. Common Stockholders (USD)0.29(0.03)0.05(0.04)(0.04)0.040.080.04
    Balance Sheet - MetricQ1 2014Q2 2014Q3 2014FY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Cash and cash equivalents (USD, thousands)337,884342,570342,570526,980741,679748,916740,020740,020
    Accounts receivable, net (USD, thousands)167,736163,707163,707189,572195,288199,076185,821185,821
    Due from affiliates (USD, thousands)24,84825,34225,34234,26929,22130,21041,86941,869
    Prepaid expenses and other current assets (USD, thousands)48,20447,65747,65745,00738,53638,05151,54251,542
    Total current assets (USD, thousands)578,672579,276579,276795,8281,004,7241,016,2531,019,2521,019,252
    Property and equipment, net (USD, thousands)577,227604,401604,401618,926652,882663,867694,791694,791
    Operating lease right-of-use assets (USD, thousands)613,164596,032596,032621,612624,081646,750639,740639,740
    Total property, equipment and right-of-use assets (USD, thousands)1,190,3911,200,4331,200,4331,240,5381,276,9631,310,6171,334,5311,334,531
    Goodwill (USD, thousands)676,376679,463679,463694,292708,980711,841710,663710,663
    Other intangible assets (USD, thousands)91,83390,61590,61586,88384,04984,44181,35181,351
    Deferred financing costs (USD, thousands)1,8031,6431,6431,4832,5052,4162,2652,265
    Investment in joint ventures (USD, thousands)94,47292,71092,71097,034100,844104,514104,057104,057
    Deposits and other (USD, thousands)54,47846,33346,33353,49751,35845,26034,57134,571
    Total assets (USD, thousands)2,688,0252,690,4732,690,4732,969,5553,229,4233,275,3423,286,6903,286,690
    Accounts payable, accrued expenses and other (USD, thousands)302,086342,940342,940324,578353,898338,737351,464351,464
    Due to affiliates (USD, thousands)24,44815,91015,91020,49432,37544,87243,65043,650
    Deferred revenue (USD, thousands)5,1764,6474,6474,4754,4624,3923,2883,288
    Current portion of operating lease liability (USD, thousands)59,32455,98155,98158,13859,25158,75156,61856,618
    Current portion of notes payable (USD, thousands)16,04317,97417,97420,20224,21523,37824,69224,692
    Total current liabilities (USD, thousands)407,077437,452437,452427,887474,201470,130479,712479,712
    Long-term operating lease liability (USD, thousands)614,038605,097605,097630,348632,385658,434655,979655,979
    Notes payable, net of current portion (USD, thousands)844,302812,068812,068814,4421,002,392996,272991,574991,574
    Deferred tax liability, net (USD, thousands)16,64515,77615,77614,47917,47120,79522,23022,230
    Other non-current liabilities (USD, thousands)9,8056,7216,7215,07410,13410,0773,7853,785
    Total liabilities (USD, thousands)1,891,8671,877,1141,877,1141,892,2302,136,5832,155,7082,153,2802,153,280
    Common stock - $ .0001 par value, issued and outstanding (USD, thousands)77777777
    Additional paid-in-capital (USD, thousands)714,910722,750722,750969,248974,355979,279988,147988,147
    Accumulated other comprehensive loss (USD, thousands)(18,297)(12,484)(12,484)(13,943)(8,057)(1,843)(9,061)(9,061)
    Accumulated deficit (USD, thousands)(77,719)(79,578)(79,578)(82,357)(85,339)(82,130)(76,785)(76,785)
    Total RadNet, Inc.'s stockholders' equity (USD, thousands)618,901630,695630,695872,955880,966895,313902,308902,308
    Noncontrolling interests (USD, thousands)177,257182,664182,664204,370211,874224,321231,102231,102
    Total equity (USD, thousands)796,158813,359813,3591,077,3251,092,8401,119,6341,133,4101,133,410
    Total liabilities and equity (USD, thousands)2,688,0252,690,4732,690,4732,969,5553,229,4233,275,3423,286,6903,286,690
    Cash Flow - MetricQ1 2014Q2 2014Q3 2014FY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Net income (USD, thousands)24,066.005,996.0030,3375,4106,945.0012,256.0014,225.0038,836
    Depreciation and amortization (USD, thousands)32,210.0032,686.00128,39132,36834,475.0034,979.0036,016.00137,838
    Non-cash lease expense (USD, thousands)---14,71115,295.0015,510.0015,036.0060,552
    Equity in earnings of joint ventures, net of dividend (USD, thousands)(1,084.00)4,164.009,176(4,324)(2,389.00)(3,595.00)382.00(9,926)
    Amortization of deferred financing costs and loan discount (USD, thousands)746.00747.002,987748793.00795.00757.003,093
    Loss on sale and disposal of equipment (USD, thousands)527.001,004.002,187186401.00148.001,541.002,276
    Loss on extinguishment of debt (USD, thousands)-----0.001,823.003,903
    Gain on contribution of imaging centers into joint venture (USD, thousands)-0.00(16,808)-----
    Lease abandonment charges (USD, thousands)--5,146----2,478
    Amortization of cash flow hedge (USD, thousands)921.00811.003,5767396,517.00986.001,110.009,352
    Non-cash change in fair value of interest rate swaps (USD, thousands)1,015.007,236.008,185(1,216)1,890.006,755.00577.008,006
    Stock-based compensation (USD, thousands)4,325.005,405.0026,78511,8974,748.004,723.008,465.0029,833
    Loss on impairment (USD, thousands)-0.003,949---75.001,275
    Change in fair value of contingent consideration (USD, thousands)(7,210.00)232.00(3,880)1,9740.000.0021.001,995
    Net cash provided by operating activities (USD, thousands)31,252.0088,920.00220,86317,085116,005.0057,404.0042,529.00233,023
    Purchase of imaging facilities and other acquisitions (USD, thousands)(600.00)(3.00)(10,918)(3,530)(29,241.00)(4,977.00)(5,913.00)(43,661)
    Purchase of property and equipment (USD, thousands)(41,157.00)(40,063.00)(176,600)(57,409)(46,686.00)(41,069.00)(42,906.00)(188,070)
    Proceeds from sale of equipment (USD, thousands)9.001.00832,3007,430.00142,090.006,010.00157,830
    Equity contributions in existing and purchase of interest in joint ventures (USD, thousands)(5,165.00)(8,582.00)(14,035)--(75.00)0.00(1,496)
    Net cash used in investing activities (USD, thousands)(46,913.00)(48,647.00)(201,470)(60,937)(77,341.00)(45,979.00)(48,813.00)(233,070)
    Principal payments on notes and leases payable (USD, thousands)(877.00)(1,001.00)(2,930)(1,102)(1,522.00)(1,672.00)(1,693.00)(5,989)
    Payments on term loan debt (USD, thousands)(3,686.00)(30,001.00)(41,063)(1,875)(680,563.00)(5,937.00)(4,062.00)(692,437)
    Proceeds from issuance of debt, net of issuance costs (USD, thousands)---218,385645,484.00(54.00)(58.00)863,757
    Sale of noncontrolling interests (USD, thousands)--5,121----22,357
    Payments of contingent consideration and holdbacks (USD, thousands)-(2,105.00)(5,495)--0.00(654.00)(4,268)
    Distributions paid to noncontrolling interests (USD, thousands)0.00(2,449.00)(5,972)--0.00(2,099.00)(4,522)
    Proceeds from issuance of common stock (USD, thousands)(371.00)1.00245,832--0.000.00218,385
    Proceeds from issuance of common stock upon exercise of options (USD, thousands)21.00142,222.00142,2948,510359,000.00210.00299,422.00667,142
    Net cash provided by financing activities (USD, thousands)(3,201.00)(35,466.00)195,635228,298176,106.00(4,335.00)(2,119.00)397,950
    Effect of exchange rate changes on cash (USD, thousands)95.00(121.00)(292)(36)(71.00)147.00(493.00)(453)
    Net increase (decrease) in cash and cash equivalents (USD, thousands)(18,767.00)4,686.00214,736184,410214,699.007,237.00(8,896.00)397,450
    Cash paid during the period for interest (USD, thousands)20,120.005,274.0064,69518,28515,918.0017,317.0033,081.0084,601
    Cash paid during the period for income taxes (USD, thousands)24.001,362.001,5871704.001,497.001,968.004,170
    Accounts receivable (USD, thousands)(1,379)2,6502,650(25,865)(31,581)(35,369)(21,767)(21,767)
    Other current assets (USD, thousands)5,754(8,441)(8,441)(6,277)5,2424,738(32,790)(32,790)
    Other assets (USD, thousands)(16,641)(1,484)(1,484)(5,892)(5,553)(7,388)10,72310,723
    Deferred taxes (USD, thousands)7,3896,0566,056(1,158)1,7914,8346,4546,454
    Operating lease liability (USD, thousands)(43,390)(54,763)(54,763)(12,883)(27,707)(40,497)(54,866)(54,866)
    Deferred revenue (USD, thousands)1,155626626(172)(185)(255)(1,359)(1,359)
    Accounts payable, accrued expenses and other (USD, thousands)(5,091)15,08615,0866,83957,83557,42637,11737,117
    Cash and cash equivalents, beginning of period (USD, thousands)127,834127,834127,834342,570342,570342,570342,570342,570
    Cash and cash equivalents, end of period (USD, thousands)337,884342,570342,570526,980741,679748,916740,020740,020
    Revenue by Segment - in Millions of USDQ1 2014Q2 2014Q3 2014FY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Imaging Centers399.08415.341,604.16417.046443.89444.775486.611,792.32
    - Service Fee Revenue361.93384.951,463.20-422.75427.579-1,693.09
    - Revenue under Capitation40.0435.49153.43-36.9733.563-136.58
    Digital Health2.895.112.4714.66115.8316.367-9.5137.35
    - Intersegment Revenue--6.55----28.36
    Artificial Intelligence (AI) Segment--------
    - Management Fee Revenue--------
    - Software Revenue--------
    Total Revenue401.97420.351,616.63431.707459.71461.142477.11,829.66
    Revenue by Geography - in Millions of USDQ1 2014Q2 2014Q3 2014FY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    United States-------1,802.422
    United Kingdom-------24.359
    Other countries-------2.883
    Total Revenue--$1,616.63--461.142-1,829.664
    KPIs - Metric (Unit, Scale)Q1 2014Q2 2014Q3 2014FY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Centers in operation (count)366-366375398399-398
    Number of consolidated imaging centers operated (count)366-366375398399-398
    Number of not wholly-owned imaging centers among consolidated subsidiaries (count)--85859598-100
    Number of imaging centers added by acquisition (count)--109---28
    Number of imaging centers added by internal development (count)--11----44
    Number of imaging centers closed or sold (count)--12----40
    Equipment Count for MRI (count)--353----382
    Equipment Count for CT (count)--208----220
    Equipment Count for PET/CT (count)--63----66
    Equipment Count for Mammography (count)--405----427
    Equipment Count for Ultrasound (count)--861----907
    Equipment Count for X-ray (count)--363----380
    Equipment Count for Nuclear Medicine (count)--55----56
    Equipment Count for Fluoroscopy (count)--121----120
    Total equipment (count)--2429----2558
    Procedure volume growth year-over-year (percentage)3.4-5.71.63.13.3--
    Advanced radiology procedures volume growth year-over-year (percentage)5.1-7.25.18.728.6-7.2
    Same center total procedure volume growth year-over-year (percentage)3.4--1.64.34.0-3.2
    Routine imaging volume growth year-over-year (percentage)2.8--0.52.862.55-1.7
    Advanced modality imaging volume growth year-over-year (percentage)5.1-7.25.18.728.6-8.1