RadNet (RDNT) Q1 2026 earnings summary

Executive summary

• Achieved record first quarter results with revenue up 22.1% year-over-year to $575.6 million and Adjusted EBITDA up 36.3% to $63.3 million.

• Digital Health segment revenue surged 51.5% to $29.1 million, with ARR nearly doubling to $96.9 million.

• Advanced imaging procedural volumes grew 19.7% overall and 8.2% on a same-center basis compared to Q1 2025.

• Severe winter weather impacted early quarter results, but business rebounded strongly in March.

• Announced a new joint venture with Trinity Health's Saint Alphonsus Health System and completed the acquisition of Gleamer SAS.

Financial highlights

• Total company revenue: $575.6 million, up $104.2 million (22.1%) year-over-year.

• Adjusted EBITDA: $63.3 million, up $16.9 million (36.3%) year-over-year.

• Digital Health Adjusted EBITDA decreased to $1.3 million due to infrastructure investments.

• Adjusted diluted loss per share improved to $(0.28) from $(0.34) year-over-year.

• Net loss for Q1 2026 was $33.5 million, compared to $37.9 million in Q1 2025.

Outlook and guidance

• Raised 2026 Imaging Center segment guidance: revenue now $2,355–$2,405 million, Adjusted EBITDA $340–$353 million, free cash flow $112–$122 million.

• Digital Health segment guidance reaffirmed: revenue $135–$145 million, Adjusted EBITDA $10–$12 million.