LOS ANGELES, Aug. 09, 2026 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT) (“RadNet” or the “Company”), national provider of high-quality, cost-effective, fixed-site outpatient diagnostic imaging services with 442 owned and operated outpatient imaging centers, reported financial results for the second quarter of 2026 and updated its full-year 2026 guidance.

Total Company Revenue increased 25.0% to a quarterly record of $622.7 million in the second quarter of 2026 from $498.2 million in the second quarter of 2025. Total Company Adjusted EBITDA (1) also reached a quarterly record, rising 22.7% to $99.7 million from $81.2 million in the prior-year period. The results reflect broader trends in the U.S. diagnostic imaging market, where payers and health systems have been shifting imaging volumes from higher-cost hospital outpatient departments to freestanding imaging centers.

Revenue from the Digital Health reportable segment, including intersegment revenue, increased 56.5% to a quarterly record of $32.4 million in the second quarter of 2026 from $20.7 million in the second quarter of 2025. Annual Recurring Revenue (4) for Digital Health increased to $105.5 million at June 30, 2026, from $53.5 million at June 30, 2025, and rose sequentially from $96.9 million at March 31, 2026. The near-doubling of ARR over twelve months positions Digital Health as a growing SaaS-style revenue stream alongside RadNet’s capital-intensive imaging center operations.

Digital Health Adjusted EBITDA (1) was $2.5 million in the second quarter of 2026, compared with $3.4 million in the second quarter of 2025. RadNet said the decline reflected continued infrastructure investments aimed at supporting growth. Imaging Center Segment Adjusted EBITDA (1) margin improved to 16.1% in the second quarter of 2026 from 16.0% in the second quarter of 2025.

Adjusted Earnings (3) was $23.2 million, or $0.29 per diluted share, in the second quarter of 2026, compared with $25.7 million, or $0.34 per diluted share, in the second quarter of 2025, after adjusting for unusual or one-time items.

RadNet said advanced imaging continued to account for a larger share of total procedural volumes, rising to 29.9% in the second quarter of 2026 from 27.5% in the second quarter of 2025, an increase of 238 basis points. Aggregate advanced imaging procedural volumes, including MRI, CT and PET/CT, increased 21.2% from the second quarter of 2025, while same-center advanced imaging volumes rose 9.6%. Advanced imaging modalities typically carry higher reimbursement rates than routine imaging, which can benefit revenue per scan when mix shifts in their favor.

As of June 30, 2026, RadNet reported balance sheet cash of $726.3 million and a Net Debt to Adjusted EBITDA (1) ratio (5) of 1.8x.

Dr. Howard Berger, President and Chief Executive Officer of RadNet, said both the Imaging Center and Digital Health operating segments continued to deliver strong growth and record quarterly results. He said second-quarter revenue growth was driven by higher aggregate and same-center procedural volumes, recent acquisitions, a continued shift toward advanced imaging and incremental Digital Health sales and licenses of Enterprise Imaging and AI solutions.

Berger said RadNet continued to increase advanced imaging procedures and capacity through operating and Digital Health technology initiatives. He noted that the stronger growth in MR, CT and PET/CT relative to routine imaging drove the mix shift toward advanced imaging, which helped support the Imaging Center segment’s 16.1% Adjusted EBITDA margin in the quarter.

On Digital Health, Berger said ARR reached $105.5 million at June 30, 2026, up 97.2% from June 30, 2025 and 8.9% sequentially from March 31, 2026. He said external, non-RadNet customers now account for about 63% of Digital Health Revenue. During the second quarter, RadNet signed new business with Total Contract Value of about $21 million, bringing six-month new business Total Contract Value to about $37 million. The new business was primarily with hospitals and health systems and included the full range of DeepHealth AI and Enterprise Imaging solutions.

Berger also said that at the end of July, DeepHealth’s breast ultrasound AI solution was cleared by the FDA. RadNet expects to implement the solution across its breast imaging centers by year-end and anticipates both revenue and cost savings contributions in the second half of 2026. The clearance adds to a growing portfolio of FDA-cleared AI algorithms for medical imaging, a category in which regulators have been reviewing an increasing number of applications in recent years.

RadNet also said its joint venture business continued to expand. At the end of the second quarter, 157 of its 442 locations, or approximately 36%, were held within health system partnerships. During the quarter, RadNet announced a multi-site joint venture in Boise, Idaho, with Trinity Health’s Saint Alphonsus Health System that will initially include five multimodality outpatient imaging centers. As part of that relationship, RadNet’s contracted radiology group, Gem State Radiology, and the Saint Alphonsus hospitals in Boise will adopt several DeepHealth solutions, including Diagnostic Suite, Reporting Pro, AI Studio and various clinical AI tools. Joint ventures with health systems can help secure referral networks while allowing hospital partners to offer outpatient imaging without bearing the full capital and operational costs independently.

Given the company’s second-quarter performance and positive industry trends, Berger said RadNet is revising upward its 2026 Imaging Center guidance for revenue, Adjusted EBITDA (1) and Free Cash Flow (2). The company said it expects full-year results to exceed both its original expectations and the amendments made when it reported first-quarter 2026 results in May. RadNet said it is reaffirming all Digital Health guidance ranges.

For the first six months of 2026, RadNet reported Total Company Revenue of $1,198 million and Adjusted EBITDA (1) of $162.9 million, up 23.6% and 27.6%, respectively, from the first half of 2025. Digital Health Revenue, including intersegment revenue, increased 54.1% to $61.5 million, while Digital Health Adjusted EBITDA (1) declined to $3.8 million from $7.1 million in the prior-year period, as the company increased spending on sales, marketing, customer service and implementation teams.

Without adjustment for one-time or unusual items, RadNet reported a total company net income of $7.5 million in the second quarter of 2026, compared with $14.5 million in the second quarter of 2025. Net income per share was $0.10, compared with $0.19 a year earlier, based on weighted average diluted shares outstanding of 78.7 million in 2026 and 75.5 million in 2025.

RadNet said second-quarter results were affected by several unusual or one-time items, including $0.5 million of expense related to leases for de novo facilities under construction; $5.1 million of non-capitalized research and development expenses related to DeepHealth solutions; $6.8 million of intangibles amortization in the Digital Health division primarily related to recent acquisitions; $1.3 million of lease abandonment charges; $6.6 million of acquisition transaction costs; $3.2 million of gain on the change in contingent consideration related to recent acquisitions; and a $3.4 million loss from debt restructuring and extinguishment related to the company’s recent debt repricing transaction.

Adjusting for those items, Total Company Adjusted Earnings (3) was $23.2 million and diluted Adjusted Earnings Per Share (3) was $0.29 in the second quarter of 2026, compared with $25.7 million and $0.34, respectively, in the second quarter of 2025.

For the second quarter of 2026, MRI volume increased 21.0% year over year, CT volume increased 20.9%, PET/CT volume increased 31.0% and routine imaging, including nuclear medicine, ultrasound, mammography, x-ray and other exams, increased 7.9%. On a same-center basis, MRI volume increased 10.2%, CT volume increased 8.6%, PET/CT volume increased 8.8% and routine imaging increased 1.7%.

For the first six months of 2026, RadNet reported a total company net loss of $25.9 million, compared with a net loss of $23.5 million in the first half of 2025. Net loss per share was $(0.33), compared with $(0.32) in the same period of 2025, based on weighted average diluted shares outstanding of 77.4 million in 2026 and 74.1 million in 2025.

RadNet said Dr. Howard Berger, President and Chief Executive Officer, and Mark Stolper, Executive Vice President and Chief Financial Officer, will host a conference call to discuss the results on Monday, Aug. 10, 2026, at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time). The dial-in number is 844-744-1280 in the United States and 412-564-6465 internationally. Simultaneous and archived webcasts will be available at and at under the “News” menu section. An archived replay will also be available by phone at 844-512-2921 in the U.S. or 412-317-6671 internationally using passcode 10210872.

About RadNet, Inc.

RadNet, Inc. is a national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. The company operates outpatient imaging centers in Arizona, California, Delaware, Florida, Idaho, Indiana, Maryland, New Jersey, New York, Texas and Virginia. RadNet also provides radiology information technology and artificial intelligence solutions under the DeepHealth brand, teleradiology professional services and other related products and services to customers in the diagnostic imaging industry. Together with contracted radiologists, and including full-time and per diem employees and technologists, RadNet employs more than 11,000 people.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements reflect current beliefs, expectations and assumptions regarding the company’s future business, plans, strategies, projections, guidance and anticipated conditions, events and trends. Words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should” and “will” generally identify forward-looking statements.

Forward-looking statements are not historical facts or guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and often outside the company’s control. Actual results and financial condition may differ materially from those described. Factors that could cause such differences include, among others, the impact of pandemics, deterioration in the broader economy, severe weather or other exogenous events; the availability and terms of capital; the company’s ability to service and refinance indebtedness; general economic conditions; the availability of capital to fund expansion and facility improvements; the company’s ability to maintain its credit rating; the ability to acquire, develop, implement and monetize artificial intelligence algorithms and applications; volatility in interest and exchange rates or credit markets; the adequacy of cash flow and earnings; changes in service mix, revenue mix and procedure volumes; delays in payments; bankruptcies among partner physicians or joint venture partners; political and healthcare policy developments, including the Affordable Care Act; changes in healthcare reform, legislation, regulation, enforcement or litigation; labor disruptions and changes in labor costs; hostilities, political instability or catastrophic events; future pandemics, epidemics and infectious diseases; and noncompliance with privacy or security laws or any cybersecurity incident involving confidential information.

The company also identified additional merger and acquisition risks, including the possibility that transactions may not close on the anticipated terms or timetable, may require regulatory approvals that are delayed or not obtained, may not generate expected benefits or synergies, may result in costs or litigation, may divert management attention, and may be affected by legislative, regulatory, economic, competitive and technological changes, among other factors.

Additional information about risks and uncertainties is available in RadNet’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and future filings. RadNet said it undertakes no obligation to publicly update forward-looking statements except as required by law.

Regulation G: GAAP and Non-GAAP Financial Information

This release includes financial measures not prepared in accordance with GAAP. RadNet said it uses both GAAP and non-GAAP metrics to evaluate financial results and believes non-GAAP measures help assess cash-based performance by excluding unusual and nonrecurring charges. The company said these measures should not be used as a substitute for GAAP financial information and may not be comparable with similarly titled measures used by other companies.

Contacts:

RadNet, Inc.
Mark Stolper, 310-445-2800
Executive Vice President and Chief Financial Officer