RadNet (RDNT) investor relations material

2025 performance and 2026 outlook

• Overcame early-year challenges from California wildfires and severe winter weather, leading to unprecedented growth in later quarters.

• MRI volume grew over 11%, CT in mid-single digits, and PET-CT over 14% year-over-year, driven by demand for Alzheimer's and prostate scans.

• Completed tuck-in acquisitions in southwest Florida and Indiana, expanding into new markets.

• Digital health platform revenue nearly doubled, reaching $92 million, with ARR introduced as a new metric.

• 2026 guidance includes 17%-19% imaging center revenue growth and close to 50% digital health revenue growth.

Business model and market positioning

• Operates outpatient imaging centers and a digital health division, leveraging a proprietary IT platform and AI.

• Digital health solutions address workflow pain points, improving efficiency and cost savings, and are applicable industry-wide.

• Advances in AI, machine learning, and compute power are expected to transform the industry in coming years.

Growth drivers and margin expansion

• Revenue growth driven by acquisitions, organic same-center performance, and pricing improvements.

• Advanced imaging (MRI, PET-CT) is a key growth area, with technology upgrades and AI-powered scheduling increasing capacity and efficiency.

• Hospital joint ventures expected to expand, potentially entering new geographies.

• 11-13 new imaging centers planned for completion by year-end.