RDNT

MKT CAP:$4B

RadNet, Inc.

Market Cap

$4B

Healthcare·Medical - Diagnostics & Research·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$57.51-$13.44 (-18.94%)

Apr 21, 2026

Company Details

RadNet, Inc., together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammog...

CEO

Howard G. Berger

IPO Date

Jan 3, 1997

Website

www.radnet.com

Key Metrics TTM

Revenue

$1.5B

— YoY

Net Income

$25M

EPS (Diluted)

$0.39

Free Cash Flow

$198M

Revenue / Share

$20.50

Gross Margin

15.0%

Operating Margin

6.6%

Net Margin

1.6%

FCF Margin

13.0%

P/S

2.9x

P/E

179.3x

Earnings Reports

Q3 2025

May 11, 2026

PENDING

Q2 2025

Aug 11, 2025

$498MEPS $0.19

Q4 2023

Feb 29, 2024

$420MEPS -$0.03

Q4 2020

Mar 16, 2021

$308M+2.4%EPS $0.11

Q3 2020

Nov 9, 2020

$292MEPS $0.12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 19	$301M	$45M	$24M
Q2 20	$191M	-$4M	$179.0K
Q3 20	$292M	$45M	$23M
Q4 20	$308M	$50M	$21M
Q4 23	$420M	$64M	$24M
Q2 25	$498M	$69M	$31M

Valuation

Quarter	P/S	P/E
Q4 19	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	4.1x	371.9x
Q4 23	3.7x	—
Q2 25	2.9x	179.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 19	$22M	$43M
Q2 20	$91M	$78M
Q3 20	$39M	$26M
Q4 20	$63M	$56M
Q4 23	$89M	$49M
Q2 25	$120M	$67M

Capital Expenditures

Quarter	CapEx
Q4 19	$21M
Q2 20	$13M
Q3 20	$13M
Q4 20	$7M
Q4 23	$40M
Q2 25	$53M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 23	+39.7%	+42.9%
Q2 25	+161.4%	+145.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 19	$0	0.0%
Q2 20	$1M	0.8%
Q3 20	$2M	0.7%
Q4 20	$0	0.0%
Q4 23	$5M	1.3%
Q2 25	$9M	1.8%

Revenue Segments

Quarter	Capitation Arrangements	Commercial Insurance1	Health Care, Management Service	Health Care, Other	Health Care, Patient Service Other	Medicaid1	Medicare1	Workers' Compensation/Personal Injury1
Q4 23	$35M	$232M	$6M	$3M	$11M	$12M	$96M	$12M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$71M	$0	$71M
Q2 22	$99M	$0	$99M
Q3 22	$95M	$0	$95M
Q4 22	$128M	$0	$128M
Q1 23	$91M	$0	$91M
Q2 23	$357M	$0	$357M
Q3 23	$338M	$0	$338M
Q4 23	$343M	$0	$343M
Q1 24	$527M	$0	$527M
Q2 24	$742M	$0	$742M
Q3 24	$749M	$0	$749M
Q4 24	$740M	$0	$740M
Q1 25	$717M	$0	$717M
Q2 25	$833M	$0	$833M
Q3 25	$805M	$0	$805M
Q4 25	$767M	$0	$767M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 19	51M	—	—
Q2 20	51M	+0.1%	—
Q3 20	52M	+2.5%	—
Q4 20	52M	+0.5%	—
Q4 23	68M	+30.0%	+34.1%
Q2 25	74M	+9.1%	+46.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 19	$48.8K	6K
Q2 20	$30.9K	6K
Q3 20	$47.3K	6K
Q4 20	$50.0K	6K
Q4 23	$53.4K	8K
Q2 25	$58.3K	9K

Revenue / Employee