The strong Q1 beat and raised guidance signal accelerating imaging volume growth and Digital Health momentum. Watch for continued ARR growth trajectory and margin expansion as weather headwinds fade. The stock may gap up on the beat and raise, but monitor GAAP profitability trajectory given ongoing R&D investment in DeepHealth.
Price Chart
Executive Summary
RadNet reported Q1 2026 revenue of $575.6M (+22.1% YoY) and Adjusted EBITDA of $63.3M (+36.3% YoY), beating consensus EPS of -$0.19 with reported GAAP EPS of -$0.43 (net loss $33.5M) and adjusted diluted loss per share of -$0.28. The company raised full-year 2026 Imaging Center guidance for revenue, Adjusted EBITDA, and Free Cash Flow, while Digital Health ARR nearly doubled to $96.9M. The strong operational beat and upward guidance revision are positive, though the GAAP net loss and Digital Health EBITDA decline temper the outlook.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $575.6M (+22.1% YoY vs $471.4M), above consensus $554.7M
- Adjusted EBITDA $63.3M (+36.3% YoY vs $46.4M)
- GAAP net loss $33.5M vs $37.9M loss YoY; GAAP EPS -$0.43 vs -$0.51 YoY
- Adjusted diluted loss per share -$0.28 vs consensus -$0.19 (beat by 47.4%)
- Digital Health revenue $29.1M (+51.5% YoY); ARR $96.9M (nearly doubled from $49.8M)
- Raised FY2026 Imaging Center guidance: revenue to $2.355B-$2.405B, Adj. EBITDA to $340M-$353M, FCF to $112M-$122M
- Aggregate advanced imaging volumes +19.7%; same-center advanced imaging +8.2%
- Cash $455.3M; net debt/Adj. EBITDA leverage ~2.0x
- Signed over $16M in new DeepHealth total contract value in Q1
Financial Impact
Revenue beat consensus by $20.9M (+3.8%); adjusted EPS beat consensus by $0.09 (+47.4%); guidance raised by $30M revenue and $5M EBITDA at midpoint
Risk Factors
- GAAP net loss persists despite revenue growth; adjusted EPS still negative
- Digital Health EBITDA declined to $1.3M from $3.7M YoY due to infrastructure investment
- Weather impact in Q1 reduced revenue by ~$13M and EBITDA by ~$9M; recurrence risk
- High cash burn from acquisitions ($304M in Q1) and capex ($70M)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3291511 |
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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