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SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Schedule of Service Fee Revenue
Our total service revenues during the three and six months ended June 30, 2023 and 2022 are presented in the table below based on an allocation of the estimated transaction price with the patient between the primary patient classification of insurance coverage (in thousands):
 Three Months Ended
June 30,		Six Months Ended
June 30,
2023202220232022
Commercial insurance$224,842 $195,066 $442,044 $383,615 
Medicare89,469 77,879 176,093 148,800 
Medicaid9,985 9,704 20,145 18,788 
Workers' compensation/personal injury12,821 13,138 25,500 25,586 
Other patient revenue10,391 7,567 20,132 14,689 
Management fee revenue3,998 5,592 8,246 11,100 
Teleradiology and Software revenue4,819 2,421 9,152 6,419 
Other5,215 3,577 10,515 8,623 
Revenue under capitation arrangements39,797 37,874 77,941 76,365 
Imaging Center Segment Revenue401,337 352,818 789,768 789768000693,985 
AI Segment Revenue2,378 1,557 4,511 2,156 
Total service revenue$403,715 $354,375 $794,279 $696,141 
Schedule of Goodwill Activity in goodwill for the six months ended June 30, 2023 is provided below (in thousands):
Imaging CenterArtificial IntelligenceTotal
Balance as of December 31, 2022606,483 $71,182 $677,665 
Goodwill from acquisitions6,324 — 6,324 
Valuation adjustment1,603 — 1,603 
Currency translation1,171 1,116 2,287 
Balance as of June 30, 2023$615,581 $72,298 $687,879 
Schedule of Annual Amortization Expense As of June 30, 2023:
2023*
2024202520262027ThereafterTotalWeighted average amortization period remaining in years
Management Service Contracts$1,144 $2,287 $2,287 $2,287 $2,287 $8,959 $19,251 8.4
Covenant not to compete and other contracts676 941 692 406 122 41 2,878 3.6
Customer Relationships500 1,232 1,101 979 780 11,424 16,016 18.0
Patent and Trademarks196 316 316 316 316 403 1,863 6.0
Developed Technology & Software4,237 6,657 6,657 6,618 6,083 5,392 35,644 6.2
Trade Names amortized114 77 77 77 77 89 511 4.9
Trade Names indefinite life— — — — — 7,100 7,100 — 
IPR&D— — — — — 17,170 17,170 — 
Total Annual Amortization$6,867 $11,510 $11,130 $10,683 $9,665 $50,578 $100,433 
*Excluding the six months ended June 30, 2023



As of December 31, 2022:
20232024202520262027ThereafterTotalWeighted average amortization period remaining in years
Management Service Contracts$2,287 $2,287 $2,287 $2,287 $2,287 $8,958 $20,393 8.9
Covenant not to compete and other contracts1,319 891 642 356 72 40 3,320 3.1
Customer Relationships1,244 1,244 1,112 991 816 12,396 17,803 18.6
Patent and Trademarks298 298 298 298 298 322 1,812 6.4
Developed Technology & Software6,297 6,297 6,297 6,257 5,722 7,196 38,066 6.7
Trade Names amortized305 77 77 77 77 89 702 4.5
Trade Names indefinite life— — — — — 7,100 7,100 — 
IPR&D— — — — — 17,032 17,032 — 
Total Annual Amortization$11,750 $11,094 $10,713 $10,266 $9,272 $53,133 $106,228 
Schedule of Effect of Derivative Instruments on Comprehensive Loss
A tabular presentation of the effect of derivative instruments on our consolidated statement of comprehensive loss of the 2019 Swaps which remain ineffective is as follows (amounts in thousands):
For the three months ended June 30, 2023
AccountMarch 31, 2023 BalanceAmount of comprehensive loss recognized on derivative net of taxesAmount of loss reclassified out of accumulated OCI into income (prior period effective portion), net of taxesJune 30, 2023 BalanceLocation
Accumulated Other Comprehensive Loss, net of taxes$(14,279)$—$922$(13,357)Equity

For the six months ended June 30, 2023
AccountDecember 31, 2022 BalanceAmount of comprehensive loss recognized on derivative net of taxesAmount of loss reclassified out of accumulated OCI into income (prior period effective portion), net of taxesJune 30, 2023 BalanceLocation
Accumulated Other Comprehensive Loss, net of taxes$(15,201)$—$1,844$(13,357)Equity

A tabular presentation of the effect of derivative instruments on our statement of operations of the 2019 Swaps which remain ineffective is as follows (amounts in thousands):
For the three months ended June 30, 2023
Ineffective interest rate swapAmount of loss recognized in income on derivative (current period ineffective portion)Location of loss recognized in Income on derivative (current period ineffective portion)Amount of loss reclassified from accumulated OCI into income (prior period effective portion)Location of loss reclassified from accumulated OCI into income (prior period effective portion)
Interest rate contracts$4,158 Other income (expense)$(922)Interest Expense
For the six months ended June 30, 2023
Ineffective interest rate swapAmount of gain recognized in income on derivative (current period ineffective portion)Location of gain recognized in Income on derivative (current period ineffective portion)Amount of loss reclassified from accumulated OCI into income (prior period effective portion)Location of loss reclassified from accumulated OCI into income (prior period effective portion)
Interest rate contracts$66 Other income (expense)$(1,844)Interest Expense
Schedule of Business Acquisitions by Acquisition, Contingent Consideration A tabular rollforward of contingent consideration is as follows (amounts in thousands):
For the three months ended June 30, 2023
EntityAccountMarch 31, 2023 BalanceIssuance of contingent considerationChange in valuation of Contingent ConsiderationCurrency TranslationJune 30, 2023 Balance
AidenceOther Long Term Liabilities$11,316 (4,000)$(125)$— $7,191 
QuantibAccrued Expenses & Other Long Term Liabilities$4,411 $— $860 $— $5,271 
MontclairAccrued Expenses$1,200 $— $(1,200)$— $— 
Heart and Lung LimitedAccrued Expenses & Other Long Term Liabilities$13,130 $— $867 $361 $14,358 
For the six months ended June 30, 2023
EntityAccountJanuary 1, 2023 BalanceIssuance of contingent considerationChange in valuation of Contingent ConsiderationCurrency TranslationJune 30, 2023 Balance
AidenceOther Long Term Liabilities11,158 (4,000)$33 $— $7,191 
QuantibAccrued Expenses & Other Long Term Liabilities3,709 $— $1,562 $— $5,271 
MontclairAccrued Expenses1,200 $— $(1,200)$— $— 
Heart and Lung LimitedAccrued Expenses & Other Long Term Liabilities11,656 $— $1,991 $711 $14,358 
Schedule of Fair Value of Assets and Liabilities
The tables below summarize the estimated fair values of certain of our financial assets that are subject to fair value measurements, and the classification of these assets on our condensed consolidated balance sheets, as follows (in thousands):
 As of June 30, 2023
Level 1Level 2Level 3Total
Current and long term assets    
2019 Swaps - Interest Rate Contracts$— $23,368 $— $23,368 
 As of December 31, 2022
Level 1Level 2Level 3Total
Current and long term assets    
2019 Swaps - Interest Rate Contracts$— $23,302 $— $23,302 
The table below summarizes the estimated fair values of contingencies and holdback relating to our Aidence Holding B.V. and Quantib B.V. acquisitions on January 20, 2022, the Montclair Radiological Associates acquisition on October 1, 2022 and the Heart and Lung Imaging Limited acquisition on November 1, 2022 that are subject to fair value measurements and the classification of these liabilities on our consolidated balance sheets, as follows (in thousands):
 As of June 30, 2023
Level 1Level 2Level 3Total
Accrued expenses and other non-current liabilities    
Aidence Holding B.V. milestone consideration$— $— $7,191 $7,191 
Quantib B.V. holdback of 113,303 shares of RadNet common stock
$— $— $5,271 $5,271 
Heart and Lung Imaging Limited$— $— $14,358 $14,358 
The table below summarizes the estimated fair value compared to our face value of our long-term debt as follows (in thousands):
 As of June 30, 2023
Level 1Level 2Level 3Total Fair ValueTotal Face Value
First Lien Term Loans and Truist Term Loan$— $854,974 $— $854,974 $856,750 
 As of December 31, 2022
Level 1Level 2Level 3Total Fair ValueTotal Face Value
First Lien Term Loans and Truist Term Loan$— $843,594 $— $843,594 $864,125 
Schedule of Earnings Per Share Earnings per share is based upon the weighted average number of shares of common stock and common stock equivalents outstanding, net of common stock held in treasury, as follows (in thousands except share and per share data):
 Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Net income (loss) attributable to RadNet, Inc.'s common stockholders$8,369 $7,905 $(12,636)$10,918 
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC.'S COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period59,880,803 56,059,824 59,221,453 55,683,335 
Basic net income (loss) per share attributable to RadNet, Inc.'s common stockholders$0.14 $0.14 $(0.21)$0.20 
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC.'S COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period59,880,803 56,059,824 59,221,453 55,683,335 
Add non-vested restricted stock subject only to service vesting205,413 47,652 — 122,781 
Add additional shares issuable upon exercise of stock options and contingently issuable shares830,769 859,072 — 860,174 
Weighted average number of common shares used in calculating diluted net income per share60,916,985 56,966,548 59,221,453 56,666,290 
Changes in FV associated with contingently issuable shares$(934)$(468)$— $(863)
Net income (loss) attributable to RadNet, Inc's common stockholders for diluted share calculation$7,435 $7,437 $(12,636)$— $10,055 
Diluted net income (loss) per share attributable to RadNet, Inc.'s common stockholders$0.12 $0.13 $(0.21)$0.18 
Fair value change for contingently issuable shares excluded from the computation of diluted per share amounts as its effect would be antidilutive$— $— $1,696 $— 
Stock options and non-vested restricted awards excluded from the computation of diluted per share amounts as their effect would be antidilutive:
Non-vested restricted stock subject to service vesting— — 644,623 — 
Shares issuable upon the exercise of stock options82,775 70,070 759,313 58,491 
Contingently issuable shares— — 193,207 — 
Schedule of Investment in Joint Ventures
The following table is a summary of our investment in joint ventures during the six months ended June 30, 2023 (in thousands):
Balance as of December 31, 2022$57,893 
Equity in earnings in these joint ventures2,851 
Distribution of earnings(8,540)
Equity contributions in existing joint ventures288 
Balance as of June 30, 2023$52,492 
Schedule of Joint Venture Investment and Financial Information
The following table is a summary of key balance sheet data for these joint ventures as of June 30, 2023 and December 31, 2022 and income statement data for the six months ended June 30, 2023 and 2022 (in thousands):
Balance Sheet Data:June 30, 2023December 31, 2022
Current assets$38,334 $39,304 
Noncurrent assets139,776 134,694 
Current liabilities(35,664)(29,588)
Noncurrent liabilities(48,172)(37,952)
Total net assets$94,274 $106,458 
Income statement data for the six months ended June 30,
20232022
Net revenue$84,699 $69,757 
Net income$5,827 $10,497