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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE        
Total service revenue $ 350,044 $ 332,690 $ 1,046,185 $ 981,928
Provider relief funding 0 0 0 6,291
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 313,943 272,756 934,757 838,609
Depreciation and amortization 29,229 24,606 85,209 71,272
(Gain) loss on sale and disposal of equipment and other (247) 2,595 962 (279)
Severance costs 195 163 496 715
Total operating expenses 343,120 300,120 1,021,424 910,317
INCOME FROM OPERATIONS 6,924 32,570 24,761 77,902
OTHER INCOME AND EXPENSES        
Interest expense 12,420 12,032 35,398 37,028
Equity in earnings of joint ventures (3,085) (2,853) (8,350) (8,259)
Non-cash change in fair value of interest rate swaps (12,451) (2,870) (39,576) (14,149)
Debt restructuring and extinguishment expenses 0 0 0 6,044
Other expenses (income) 1,405 (167) 1,562 1,699
Total other (income) expenses (1,711) 6,142 (10,966) 22,363
INCOME BEFORE INCOME TAXES 8,635 26,428 35,727 55,539
Provision for income taxes (2,188) (5,284) (7,087) (12,534)
NET INCOME 6,447 21,144 28,640 43,005
Net income attributable to noncontrolling interests 5,779 4,924 17,055 14,455
NET INCOME ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 668 $ 16,220 $ 11,585 $ 28,550
BASIC NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.01 $ 0.31 $ 0.21 $ 0.55
DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.01 $ 0.30 $ 0.19 $ 0.54
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 56,744,419 52,810,644 56,041,017 52,323,360
Diluted (in shares) 57,651,761 53,817,840 57,036,417 53,249,698
Service fee revenue        
REVENUE        
Total service revenue $ 312,043 $ 295,407 $ 931,819 $ 870,479
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 38,001 $ 37,283 $ 114,366 $ 111,449