Jun 2026 (Q2 FY26) — Aug 10, 2026
RadNet Q2 FY26 — Record Revenue and Adjusted EBITDA Driven by Advanced Imaging and Digital Health Growth
Read the full callRadNet (RDNT) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
RadNet earnings: last reported Mon, 10 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 623 | +25.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 6.3 | +0.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 7.5 | −47.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
9 of 10 judged targets kept · 18 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY26 Imaging Center free cash flow growth guidance | Free cash flow is expected to grow 29% to 41% from 2025 levels | Dec 2025 | Free cash flow guidance increased to a range of $115 million to $125 million, an increase of $3 million at both the low and high ends of the range. | Revised Up |
| DeepHealth OS internal implementation across RadNet centers | by year-end, most of all of the tools that we have will be in place [year-end 2025] | Mar 2025 | We continue to make strong progress with our clinical AI deployments as well. | On Track |
| iCAD (Digital Health) adjusted EBITDA breakeven timing | breakeven point [by] mid-2026 | Dec 2025 | we, for instance, been able to slightly ahead of plan, being able to get ICAD already profitable, so breakeven as we speak today. | Achieved |
1 of RadNet, Inc.'s 28 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 25 more targets are in the full ledger.
Claimed
- Total company revenue increased 25% to $622.7 million, a quarterly record.
- Total company adjusted EBITDA increased 22.7% to $99.7 million, a quarterly record.
- Same-center advanced imaging procedural volumes increased 9.6% year-over-year.
- Imaging center segment adjusted EBITDA margin improved by 17 basis points to 16.1%.
- Digital Health Annual Recurring Revenue (ARR) reached $105.5 million, up 97% year-over-year.
Qualified
- Digital Health adjusted EBITDA was down to $2.5 million from $3.4 million year-over-year, reflecting deliberate investments to fuel growth and acquisition dilution.
- Continued pressure on salaries from labor shortages, particularly for technologists and radiologists.
- Cash interest expense guidance increased by $3 million to a range of $48 million to $53 million due to incremental borrowings.
Price
$70.41 +1.81% · +$1.25
Performance −4.6% 1Y
1Y: $73.81 on 14 Oct 2025 → $70.41. High $84.48 (24 Nov 2025), low $51.87 (3 Jun 2026).
- Previous close
- $69.16
- 52-week range
- $51.87 – $84.48
- One year
- −8.30%
Overview
- Symbol
- RDNT
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
9 of 10 judged targets kept · 18 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY26 Imaging Center free cash flow growth guidance | Free cash flow is expected to grow 29% to 41% from 2025 levels | Dec 2025 | Free cash flow guidance increased to a range of $115 million to $125 million, an increase of $3 million at both the low and high ends of the range. | Revised Up |
| DeepHealth OS internal implementation across RadNet centers | by year-end, most of all of the tools that we have will be in place [year-end 2025] | Mar 2025 | We continue to make strong progress with our clinical AI deployments as well. | On Track |
| iCAD (Digital Health) adjusted EBITDA breakeven timing | breakeven point [by] mid-2026 | Dec 2025 | we, for instance, been able to slightly ahead of plan, being able to get ICAD already profitable, so breakeven as we speak today. | Achieved |
Claimed
- Total company revenue increased 25% to $622.7 million, a quarterly record.
- Total company adjusted EBITDA increased 22.7% to $99.7 million, a quarterly record.
- Same-center advanced imaging procedural volumes increased 9.6% year-over-year.
- Imaging center segment adjusted EBITDA margin improved by 17 basis points to 16.1%.
- Digital Health Annual Recurring Revenue (ARR) reached $105.5 million, up 97% year-over-year.
Qualified
- Digital Health adjusted EBITDA was down to $2.5 million from $3.4 million year-over-year, reflecting deliberate investments to fuel growth and acquisition dilution.
- Continued pressure on salaries from labor shortages, particularly for technologists and radiologists.
- Cash interest expense guidance increased by $3 million to a range of $48 million to $53 million due to incremental borrowings.
The full ledger
Open RadNet, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 28 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 11, 2026
RadNet Q1 FY26 — Record Revenue and EBITDA, Raised FY26 Guidance
Read the full callDec 2025 (Q4 FY25) — Mar 2, 2026
RadNet Q4 FY25 — Record Revenue and EBITDA Driven by Advanced Imaging and Strategic AI Acquisition
Read the full callEvery analysed call
RadNet earnings calls (RDNT)
Financials
What the filings say
Net profit, year on year: −48% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 461 | 477 | 471 | 498 | 523 | 548 | 576 | 623 |
| Operating profit | 34 | 25 | -24 | 31 | 27 | 28 | -24 | 39 |
| Operating margin | 7.3% | 5.1% | −5.1% | 6.2% | 5.2% | 5.1% | −4.2% | 6.3% |
| Other income | -17 | -9 | -9 | -7 | -7 | -7 | -9 | -13 |
| Profit before tax | 17 | 15 | -33 | 24 | 20 | 21 | -33 | 27 |
| Tax rate | 26.1% | 7.2% | 10.3% | 3.4% | 31.5% | 52.9% | 24.7% | 23.9% |
| Net profit | 3 | 5 | -38 | 14 | 5 | -1 | -33 | 8 |
| EPS ($ per share) | 0.04 | — | -0.51 | 0.19 | 0.07 | — | -0.43 | 0.10 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | -118 | -103 | -118 | -93 | -83 | -80 | -77 | -95 |
| Total liabilities | 909 | 1,414 | 1,528 | 1,712 | 1,942 | 1,877 | 2,153 | 2,403 |
| Fixed assets | 346 | 368 | 399 | 484 | 566 | 604 | 695 | 808 |
| Total assets | 1,109 | 1,647 | 1,787 | 2,058 | 2,434 | 2,690 | 3,287 | 3,759 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 117 | 104 | 234 | 149 | 146 | 221 | 233 | 299 |
| Cash from investing | -147 | -99 | -126 | -222 | -247 | -201 | -233 | -344 |
| Cash from financing | -11 | 25 | -46 | 105 | 94 | 196 | 398 | 72 |
| Net cash flow | -41 | 30 | 62 | 33 | -7 | 215 | 397 | 27 |
| Capital expenditure | -72 | -74 | -94 | -138 | -119 | -177 | -188 | -213 |
| Free cash flow | 45 | 30 | 140 | 12 | 27 | 44 | 45 | 86 |
RDNT revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Digital Health | 4% | -2% | 2% | 2% | 3% | 3% | 3% | 3% | +89.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
RDNT operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Advanced imaging procedure share | 28.6%During the fourth quarter, advanced imaging represented 28.6% of RadNet's procedural volume, an increase of 178 basis points from last year's same quarter.Source: earnings call transcript | 29.3%During this year's first quarter, 29.3% of our procedural volume was from advanced imaging compared with 26.9% last year's first quarter, a difference of 235 basis points.Source: earnings call transcript | 29.9%increasing from 27.5% of total procedure volume in last year's second quarter to 29.9% in this year's second quarter.Source: earnings call transcript | +0.6 pt |
| Imaging centers Health system partnerships | 151Currently, 151 of RadNet's 418 centers or 36.1% are held within health system partnerships.Source: earnings call transcript | 155Radnet purchased a 51% interest in existing partnership entity for approximately $17 million, including this newly commenced Trinity joint venture, 155 of RadNet's 440 centers or approximately 35.2% are held within health system partnerships.Source: earnings call transcript | 157As of the end of the second quarter, 157 of our now 442 centers or approximately 36% were held within health system partnerships.Source: earnings call transcript | +1.3% |
| Imaging centers | 418Currently, 151 of RadNet's 418 centers or 36.1% are held within health system partnerships.Source: earnings call transcript | 440Radnet purchased a 51% interest in existing partnership entity for approximately $17 million, including this newly commenced Trinity joint venture, 155 of RadNet's 440 centers or approximately 35.2% are held within health system partnerships.Source: earnings call transcript | 442As of the end of the second quarter, 157 of our now 442 centers or approximately 36% were held within health system partnerships.Source: earnings call transcript | +0.5% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
49 filings between Nov 13, 2025 and Jun 18, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$12.28M
15 sales by 5 insiders
Compensation
not trading decisions- 14
- Award — granted as compensation
- 14
- Option exercise — converted options into shares
- 1
- Tax withheld — shares kept back by the company to cover tax
Also filed: 5 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Forthuber Stephen M | — | $6.09M | Jun 15, 2026 |
| Patel Mital | — | $3.90M | Nov 19, 2025 |
| Sorensen Alma Gregory | — | $1.87M | Mar 19, 2026 |
| Wesdorp Cornelis | — | $276.0K | Jun 16, 2026 |
| SWARTZ DAVID L | — | $145.4K | Jun 18, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Jun 18, 2026 | SWARTZ DAVID L Director | Sale | 2,699 | $145.4K |
| Jun 16, 2026 | Wesdorp Cornelis Pres & CEO, Digital Health | Sale | 4,750 | $276.0K |
| Jun 16, 2026 | BERGER HOWARD G President, CEO | Gift | 90 | $0 |
| Jun 15, 2026 | Forthuber Stephen M Pres & CEO-Eastern Operations | Sale | 24,214 | $1.40M |
| Jun 15, 2026 | Forthuber Stephen M Pres & CEO-Eastern Operations | Sale | 19,853 | $1.16M |
| Jun 2, 2026 | Levitt Lawrence L Director | Award | 2,946 | $0 |
| Jun 2, 2026 | SWARTZ DAVID L Director | Award | 2,946 | $0 |
| Jun 2, 2026 | Jacobs Laura Pastre Director | Award | 2,946 | $0 |
| Jun 2, 2026 | SPURLOCK GREGORY E. Director | Award | 2,946 | $0 |
| May 5, 2026 | BERGER HOWARD G President, CEO | Option exercise | 25,992 | $484.5K |
| Mar 19, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Sale | 100 | $6.4K |
| Mar 19, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Gift | 7,000 | $0 |
| Mar 19, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Sale | 5,346 | $335.8K |
| Mar 19, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Sale | 9,554 | $590.8K |
| Mar 18, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Sale | 800 | $50.2K |
| Mar 18, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Sale | 14,200 | $882.1K |
| Mar 16, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Tax withheld | 5,919 | $365.3K |
| Mar 10, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Option exercise | 2,493 | $0 |
| Mar 10, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Option exercise | 3,742 | $0 |
| Mar 10, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Option exercise | 16,831 | $0 |
| Mar 10, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Option exercise | 12,466 | $0 |
| Mar 10, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Option exercise | 8,727 | $0 |
| Mar 10, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Option exercise | 6,237 | $0 |
| Mar 10, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Option exercise | 7,481 | $0 |
| Mar 10, 2026 | Sorensen Alma Gregory Chief Strategy Officer | Option exercise | 4,987 | $0 |
| Mar 3, 2026 | BERGER HOWARD G President, CEO | Award | 124,001 | $0 |
| Mar 3, 2026 | HAMES NORMAN R Pres and COO-West Operations | Award | 3,100 | $0 |
| Mar 3, 2026 | HAMES NORMAN R Pres and COO-West Operations | Award | 22,045 | $0 |
| Mar 3, 2026 | Murdock Michael N EVP, Mergers and Acquisitions | Award | 6,613 | $0 |
| Mar 3, 2026 | Forthuber Stephen M Pres & COO-Eastern Operations | Award | 22,045 | $0 |
| Mar 3, 2026 | Sorensen Alma Gregory EVP, Chief Science Officer | Award | 16,533 | $0 |
| Mar 3, 2026 | Patel Mital EVP of Fin Planning, CAO | Award | 20,667 | $0 |
| Mar 3, 2026 | STOLPER MARK EVP, Chief Financial Officer | Award | 18,228 | $0 |
| Mar 3, 2026 | Katz David Jeffrey EVP and Chief Legal Officer | Award | 19,289 | $0 |
| Mar 3, 2026 | Wesdorp Cornelis Pres & CEO, Digital Health | Award | 20,330 | $0 |
| Dec 10, 2025 | Katz David Jeffrey EVP and Chief Legal Officer | Option exercise | 3,396 | $100.0K |
| Dec 10, 2025 | STOLPER MARK EVP, Chief Financial Officer | Option exercise | 35,703 | $216.7K |
| Dec 5, 2025 | Forthuber Stephen M Pres & COO-Eastern Operations | Sale | 11,598 | $916.9K |
| Dec 5, 2025 | Forthuber Stephen M Pres & COO-Eastern Operations | Sale | 31,790 | $2.48M |
| Dec 5, 2025 | Forthuber Stephen M Pres & COO-Eastern Operations | Sale | 1,700 | $135.6K |
| Dec 3, 2025 | Patel Mital EVP of Fin Planning, CAO | Gift | 630 | $0 |
| Dec 3, 2025 | Forthuber Stephen M Pres & COO-Eastern Operations | Option exercise | 39,127 | $237.5K |
| Nov 25, 2025 | Levitt Lawrence L Director | Gift | 2,700 | $0 |
| Nov 19, 2025 | BERGER HOWARD G President, CEO | Option exercise | 25,992 | $484.5K |
| Nov 19, 2025 | BERGER HOWARD G President, CEO | Option exercise | 103,969 | $1.94M |
| Nov 19, 2025 | Patel Mital EVP of Fin Planning, CAO | Sale | 15,080 | $1.21M |
| Nov 18, 2025 | Patel Mital EVP of Fin Planning, CAO | Sale | 9,920 | $793.6K |
| Nov 17, 2025 | Patel Mital EVP of Fin Planning, CAO | Sale | 25,000 | $1.90M |
| Nov 13, 2025 | Murdock Michael N EVP, Mergers and Acquisitions | Gift | 3,000 | $0 |
| Sep 16, 2025 | STOLPER MARK EVP, Chief Financial Officer | Sale | 35,000 | $2.59M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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