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SEC filingRadNet reported record first quarter 2026 financial results with 22.1% revenue growth to $575.6 million and 36.3% Adjusted EBITDA growth to $63.3 million, driven by strong advanced imaging volume gains and revised upward full-year Imaging Center guidance for Revenue, Adjusted EBITDA, and Free Cash Flow.
RadNet’s Q1 2026 results reflect a robust rebound from severe winter weather disruptions in January–February, which cost an estimated $13M in revenue and $9M in Adjusted EBITDA. Despite those headwinds, aggregate advanced imaging volumes grew 19.7% systemwide—driven by MRI (+20.3%), CT (+17.7%), and PET/CT (+35.2%)—and same-center advanced imaging rose 8.2%, lifting the advanced imaging procedural mix share to 29.3% (up 235 bps year-over-year). This volume strength, combined with disciplined cost management and favorable service mix, drove a 52-basis-point expansion in Imaging Center Adjusted EBITDA margin after adjusting for weather impacts. The Digital Health segment posted explosive 51.5% revenue growth and ARR more than doubled to $96.9M, underpinned by the March 2026 acquisition of Gleamer SAS and over $16M in new DeepHealth contract value signed during the quarter. Management highlighted that >70% of RadNet studies are expected to run through clinical AI by year-end, with Reporting Pro AI set to process all radiologist reports—a structural shift aimed at improving workflow productivity and operating expense efficiency. Guiding higher across key Imaging Center metrics—including Revenue ($2,355–$2,405M), Adjusted EBITDA ($340–$353M), and Free Cash Flow ($112–$122M)—while reaffirming Digital Health targets, RadNet signaled confidence in sustained execution amid expanding health system partnerships like the April 30th joint venture with Trinity Health’s Saint Alphonsus. With $455.3M in cash and net leverage just below 2.0x, the balance sheet remains a strategic enabler for continued M&A and AI investment.