Topic: Digital health revenue guidance after iCAD acquisition; PET CT growth drivers (oncology vs. Alzheimer’s)
Key points:
Digital health revenue guidance was increased by $5 million; iCAD contributed about $3.9 million of additional revenue in Q3 2025.
Digital health revenue was up 56% year-over-year in Q3 2025; management expects strong performance in Q4 2025.
PET CT volume growth of 15–20% year-over-year is driven by PSMA (prostate imaging) and amyloid brain studies (Alzheimer’s/dementia), which together represent about 20% of total PET CT volume (PSMA ~12%, amyloid brain study ~8%).
Management believes both studies are still underutilized, and novel radioactive tracers in final clinical trial stages are expected to drive further PET CT growth in coming years.
Mgmt stance: Bullish — digital health performance is strong, and PET CT volumes have significant growth runway from underutilized studies and future tracer approvals.
Q7 — Jim Sidoti
Topic: Center count update; same-center volume growth; AlphaRT acquisition details
Key points:
Total locations as of September 30, 2025 were 407 (net, including acquisitions, new centers, and consolidations); management expects the count to be higher by year-end 2025 but does not project exact numbers due to timing uncertainty.
Total same-center procedure volume (advanced imaging + routine imaging) was 4.9% in the quarter; advanced imaging is growing much faster than routine imaging, but routine imaging (~70–72% of mix) dominates the average.
AlphaRT was acquired entirely in stock; value at completion was approximately $5 million.
AlphaRT provides a remote technologist platform (complementary to TechLive), an AI-powered MRI safety camera for detecting metal objects, and a training/certification program for in-suite assistants.
Mgmt stance: Bullish — AlphaRT enhances TechLive’s offering, addresses staffing shortages, and could yield higher margins than the AI business.