RadNet Reports Record Revenue and EBITDA Gains

By Chris Stiles • Monday, March 02 11:03 • Permanent Link

Radnet, Inc. has reported its financial results for the fourth quarter and full year ended December 31, 2025. The company achieved record revenue and adjusted EBITDA, with significant improvements in various key metrics compared to the same periods in 2024.

In the fourth quarter of 2025, the total company revenue increased by 14.8% to reach a record $547.7 million, up from $477.1 million in the fourth quarter of 2024. The digital health reportable segment also saw a substantial increase in revenue, rising by 48.2% to $27.9 million from $18.9 million in the same period the previous year. Moreover, the total company adjusted EBITDA reached a record $87.7 million in the fourth quarter of 2025, marking a 16.9% increase from the $75.0 million reported in the fourth quarter of 2024. The adjusted EBITDA margins also improved to 16.0% in the fourth quarter of 2025, up from 15.7% in the same period in 2024.

While adjusted earnings per share for the fourth quarter of 2025 were reported at $0.23, slightly lower than the $0.24 in the fourth quarter of 2024, the company experienced significant growth in aggregate advanced imaging procedural volumes, with a 14.1% increase, and same-center advanced imaging procedural volumes, which increased by 9.6% compared to the fourth quarter of 2024.

For the full year 2025, Radnet reported total company revenue of $2,040.2 million, representing an 11.5% increase from the full year 2024. The digital health segment also saw a revenue increase of 41.1% to $92.7 million, and the annual recurring revenue for the digital health segment at the end of 2025 was reported at $75.4 million.

Looking ahead, Radnet released its 2026 financial guidance, anticipating imaging center segment revenue growth of 17%-19%, adjusted EBITDA growth of 18%-22%, and free cash flow growth of 29%-41% from 2025 levels. The company also expects digital health revenue to grow by 46%-56% in 2026.

Dr. Howard Berger, President and CEO of Radnet, expressed his satisfaction with the company's performance in the fourth quarter, attributing the growth to strong aggregate and same-center procedural growth, as well as operational and clinical efficiencies within the imaging center segment. He also highlighted the increasing demand for services and significant investments made to open new centers and complete acquisitions within core markets.

The financial results and guidance indicate a positive outlook for Radnet, with a strong focus on accelerating growth within the digital health segment and continued advancements in the diagnostic imaging industry. Dr. Berger emphasized the company's position to drive growth within digital health, particularly with the recent acquisition of Gleamer, and the development and commercialization of AI-powered workflow and clinical tools.

The company's conference call today will provide an opportunity for further discussion and analysis of the financial results and 2026 guidance. Today the company's shares have moved -2.74% to a price of $70.99. For the full picture, make sure to review RadNet's 8-K report.

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