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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUE        
Total service revenue $ 333,918 $ 190,566 $ 649,237 $ 472,130
Provider relief funding 43 25,475 6,291 25,475
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 283,571 194,217 565,851 461,635
Depreciation and amortization 24,011 21,355 46,667 43,289
(Gain) loss on sale and disposal of equipment and other (1,567) (569) (2,874) 202
Severance costs 268 859 551 1,076
Total operating expenses 306,283 215,862 610,195 506,202
INCOME (LOSS) FROM OPERATIONS 27,678 179 45,333 (8,597)
OTHER INCOME AND EXPENSES        
Interest expense 12,171 10,831 24,997 22,382
Equity in earnings of joint ventures (3,121) (945) (5,406) (2,900)
Non-cash change in fair value of interest rate hedge (35) 3,843 (11,280) 3,843
Debt restructuring and extinguishment expenses 6,044 0 6,044 0
Other expenses (income) 1,658 (115) 1,867 (108)
Total other (income) expenses 16,717 13,614 16,222 23,217
INCOME (LOSS) BEFORE INCOME TAXES 10,961 (13,435) 29,111 (31,814)
(Provision for) benefit from income taxes (2,874) 4,475 (7,249) 8,856
NET INCOME (LOSS) 8,087 (8,960) 21,862 (22,958)
Net income attributable to noncontrolling interests 5,214 1,634 9,531 3,994
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 2,873 $ (10,594) $ 12,331 $ (26,952)
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.05 $ (0.21) $ 0.24 $ (0.53)
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.05 $ (0.21) $ 0.23 $ (0.53)
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 52,238,709 50,672,219 52,004,653 50,483,274
Diluted (in shares) 53,133,091 50,672,219 52,890,561 50,483,274
Service fee revenue        
REVENUE        
Total service revenue $ 295,494 $ 155,698 $ 575,071 $ 404,031
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 38,424 $ 34,868 $ 74,166 $ 68,099