Lumexa Imaging (LMRI) investor relations material

Executive summary

• Q1 2026 results showed consolidated revenue of $253 million, up 3.1% year-over-year, with system-wide revenue up 4% and net income of $1.7 million, reversing a prior-year net loss.

• Adjusted EBITDA was $51.2 million with a 20.3% margin, remaining flat year-over-year.

• Advanced modalities, especially PET (up 23.1%) and MRI (up 8.2%), drove growth, with advanced procedures accounting for 37.4% of total volume.

• Four new imaging centers opened, including two de novos and two acquisitions, expanding the footprint to 189 centers in 13 states.

• Strategic focus on same-center growth, advanced modalities, and expanding service lines, with strong patient and provider satisfaction (NPS >90).

Financial highlights

• Outpatient net patient service revenue grew 4% to $138 million; professional fee revenue up 1% to $59 million; management fee and other revenue up 5% to $55 million.

• Net patient service revenue increased 2.6% to $188.99 million; management fee and other revenue rose 6.7% to $5.68 million.

• Adjusted EBITDA was $51.2 million (20.3% margin), nearly flat year-over-year.

• Net income was $2 million, compared to a net loss of $8 million in Q1 2025; GAAP EPS $0.02, adjusted EPS $0.18.

• Operating cash flow was $3 million, a $17 million improvement year-over-year; free cash flow was -$2 million, a $13 million improvement.

Outlook and guidance

• Full-year 2026 revenue expected between $1.045 billion and $1.097 billion, with Adjusted EBITDA guidance of $234–$242 million and Adjusted EPS of $0.71–$0.77.

• EBITDA and cash flow expected to ramp through the year, with 55% of Adjusted EBITDA in the second half.

• Targeting 8–10 de novo center additions in 2026.

• Management expects continued benefit from lower interest expense and ongoing investments in technology and de novo center expansion.

• Existing capital resources and borrowing capacity are expected to sustain operations for at least the next twelve months.