The combination of strong volume growth, margin expansion, and aggressive 2026 guidance suggests underlying operating momentum. The Digital Health segment's high-growth trajectory and AI-driven automation could drive long-term margin improvement. Traders should monitor execution on AI commercialization and integration of acquisitions.
Price Chart
Executive Summary
RadNet reported strong Q4 and full-year 2025 results with revenue up 14.8% YoY to $547.7M and Adjusted EBITDA up 16.9% to $87.7M, driven by double-digit procedural volume growth and operational efficiencies. The company also issued robust 2026 guidance, forecasting Imaging Center revenue growth of 17%-19% and Digital Health revenue growth of 46%-56%, supported by AI expansion and recent acquisitions including Gleamer.
Key Financial Metrics
Key Facts
- Q4 2025 revenue: $547.7M (+14.8% YoY), Adjusted EBITDA: $87.7M (+16.9% YoY), margin improved 29 bps to 16.0%
- Adjusted EPS: $0.23 vs. $0.24 in Q4 2024, despite $18.8M in one-time expenses
- Aggregate advanced imaging volumes up 14.1%, same-center volumes up 9.6%
- 2026 guidance: Imaging Center revenue +17%-19%, Adjusted EBITDA +18%-22%, Free Cash Flow +29%-41%
- Digital Health revenue guidance: $135M–$145M (+46%-56% YoY), including $16M from Gleamer acquisition
- Announced acquisition of AI company Gleamer in Paris, expanding clinical AI portfolio
Financial Impact
Revenue growth of $70.6M and EBITDA growth of $12.7M in Q4; full-year revenue up $210.5M and EBITDA up $20.8M; 2026 FCF expected to grow by up to 41%
Risk Factors
- Adjusted EPS declined YoY despite revenue and EBITDA growth, signaling margin pressure from heavy R&D and acquisition costs
- Digital Health segment remains unprofitable on a free cash flow basis, with $17M–$19M expected outflow in 2026
- Guidance assumes continued procedural volume growth and successful integration of AI tools and recent acquisitions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3247156 |
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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