The revenue beat and guidance raise are positive, but the massive EPS miss and continued net losses create a conflicting signal. The stock may initially react negatively to the EPS miss, but the raised guidance and strong procedural volume growth could provide support. Watch for analyst reactions and the conference call for color on EPS trajectory and weather impact normalization.
Price Chart
Executive Summary
RadNet reported record Q1 2026 revenue of $575.6M (+22.1% YoY) and raised full-year Imaging Center guidance for revenue, Adjusted EBITDA, and Free Cash Flow. However, the company posted a GAAP net loss of $33.5M and an adjusted diluted loss per share of $(0.28), significantly missing the consensus estimate of $0.21 EPS. The strong top-line growth and guidance raise are offset by the large EPS miss and continued net losses, creating a mixed picture.
Key Financial Metrics
Key Facts
- Total Company Revenue increased 22.1% to $575.6M in Q1 2026 from $471.4M in Q1 2025
- GAAP Net Loss was $33.5M vs $37.9M in prior year; Net Loss Per Share was $(0.43) vs $(0.51)
- Adjusted Diluted Loss Per Share was $(0.28), missing consensus estimate of $0.21 by 236.1%
- Total Company Adjusted EBITDA increased 36.3% to $63.3M from $46.4M
- Digital Health revenue grew 51.5% to $29.1M; ARR doubled to $96.9M from $49.8M
- Revised FY2026 Imaging Center guidance: Revenue raised to $2,355-$2,405M, Adjusted EBITDA to $340-$353M, Free Cash Flow to $112-$122M
- Aggregate advanced imaging procedural volumes increased 19.7%; same-center advanced imaging up 8.2%
- Cash balance of $455.3M; Net Debt to Adjusted EBITDA leverage ratio slightly below 2.0x
- Q1 results impacted by ~$13M revenue and ~$9M Adjusted EBITDA loss from severe winter weather
- Signed over $16M in Total Contract Value of new DeepHealth business during Q1
Financial Impact
Revenue beat prior year by $104.2M (+22.1%), but GAAP net loss of $33.5M and adjusted EPS miss of $(0.28) vs $0.21 consensus (-236.1%)
Risk Factors
- Adjusted EPS of $(0.28) missed consensus of $0.21 by 236%, which could trigger negative analyst revisions
- GAAP net loss continues despite revenue growth; operating loss of $23.9M in the quarter
- Digital Health Adjusted EBITDA declined to $1.3M from $3.7M due to infrastructure investments
- Weather impact reduced Q1 revenue by ~$13M and Adjusted EBITDA by ~$9M, creating noise in comparisons
- Cash balance dropped from $767M to $455M due to acquisitions and capex
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001683168-26-003624 |
| Document: 0001683168-26-003624-index.html | 0001683168-26-003624 |
| Document: 0001683168-26-003624.txt | 0001683168-26-003624 |
| 8-K Data (Synthetic) | 0001683168-26-003624 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 8-K | $77.28 $71.97 | ▼ −6.87% | ▼ −5.96% | $69.93 (−9.51%) |
Aug 9, 2026 7w ago | Press Release | $77.28 $71.97 | ▼ −6.87% | ▼ −5.96% | $69.93 (−9.51%) |
Jun 25, 2026 14w ago | Press Release | $60.01 $60.98 | ▲ +1.62% | ▲ +1.09% | $69.93 (+16.53%) |
Jun 10, 2026 16w ago | 8-K | $58.20 $65.94 | ▲ +13.30% | ▲ +11.41% | $69.93 (+20.15%) |
Jun 3, 2026 17w ago | 8-K | $51.87 $68.75 | ▲ +32.54% | ▲ +33.54% | $69.93 (+34.82%) |
May 11, 2026 20w ago | 8-K | $55.90 $56.18 | ▲ +0.50% | ▲ +0.81% | $69.93 (+25.10%) |
May 10, 2026 20w ago | Press Release | $55.90 $56.18 | ▲ +0.50% | ▲ +0.81% | $69.93 (+25.10%) |
Apr 28, 2026 22w ago | Press Release | $57.89 $53.84 | ▼ −7.00% | ▼ −12.45% | $69.93 (+20.80%) |
Apr 20, 2026 23w ago | DEFA14A | $57.51 $54.17 | ▼ −5.81% | ▼ −10.72% | $69.93 (+21.60%) |
Mar 11, 2026 29w ago | Press Release | $59.78 $55.43 | ▼ −7.28% | ▼ −9.25% | $69.93 (+16.98%) |
US Market Status
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