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RadNet Reports Second Quarter Financial Results with Record Quarterly Revenue and Adjusted EBITDA(1) and Revises Upwards 2026 Financial Guidance Ranges

RDNT
  • Total Company Revenue increased 25.0% to a quarterly record of $622.7 million in Q2 2026 from $498.2 million in Q2 2025.
  • Digital Health segment revenue grew 56.5% to $32.4 million in Q2 2026 from $20.7 million in Q2 2025.
  • Digital Health Annual Recurring Revenue (ARR) rose to $105.5 million at June 30, 2026, from $53.5 million at June 30, 2025.
  • Total Company Adjusted EBITDA reached a quarterly record of $99.7 million in Q2 2026, up 22.7% from $81.2 million in Q2 2025.
  • Digital Health Adjusted EBITDA decreased to $2.5 million in Q2 2026 from $3.4 million in Q2 2025 due to infrastructure investments.
  • Imaging Center Segment Adjusted EBITDA margin improved by 17 basis points to 16.1% in Q2 2026.
  • Adjusted Earnings were $23.2 million ($0.29 per share) in Q2 2026, down from $25.7 million ($0.34 per share) in Q2 2025.
  • Advanced imaging comprised 29.9% of total procedural volumes in Q2 2026, an increase of 238 basis points from the prior year.
  • Aggregate advanced imaging procedural volumes increased 21.2% in Q2 2026, while same-center volumes rose 9.6%.
  • Balance sheet cash stood at $726.3 million as of June 30, 2026, with a Net Debt to Adjusted EBITDA ratio of 1.8x.
  • RadNet revised full-year 2026 Imaging Center guidance upwards for Revenue, Adjusted EBITDA, & Free Cash Flow.
  • Digital Health guidance ranges for Revenue & Adjusted EBITDA were reaffirmed for 2026.
  • New business signed in Q2 2026 totaled approximately $21 million in Total Contract Value.
  • DeepHealth's breast ultrasound AI solution received FDA clearance in July 2026.
  • Joint ventures now account for approximately 36% of RadNet's 442 locations.
  • Unadjusted Net Income for Q2 2026 was $7.5 million, compared to $14.5 million in Q2 2025.
  • Unadjusted Net Loss for the first six months of 2026 was $25.9 million, compared to $23.5 million in the same period of 2025.
  • Conference call to discuss Q2 2026 results is scheduled for August 10, 2026.