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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUE        
Total service revenue $ 403,715 $ 354,375 $ 794,279 $ 696,141
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 345,147 305,775 697,012 620,813
Depreciation and amortization 32,180 28,862 63,495 55,980
Loss on sale and disposal of equipment and other 77 81 656 1,209
Severance costs 1,870 99 2,004 300
Total operating expenses 379,274 334,817 763,167 678,302
INCOME (LOSS) FROM OPERATIONS 24,441 19,558 31,112 17,839
OTHER INCOME AND EXPENSES        
Interest expense 16,039 11,385 31,761 22,978
Equity in earnings of joint ventures (1,423) (2,748) (2,851) (5,266)
Non-cash change in fair value of interest rate hedge (4,159) (6,306) (66) (27,125)
Other expenses (income) 40 (7) 1,472 158
Total other expense (income) 10,497 2,324 30,316 (9,255)
INCOME (LOSS) BEFORE INCOME TAXES 13,944 17,234 796 27,094
(Provision for) Benefit from income taxes 614 (3,403) (521) (4,900)
NET INCOME (LOSS) 14,558 13,831 275 22,194
Net income attributable to noncontrolling interests 6,189 5,926 12,911 11,276
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 8,369 $ 7,905 $ (12,636) $ 10,918
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.14 $ 0.14 $ (0.21) $ 0.20
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.12 $ 0.13 $ (0.21) $ 0.18
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 59,880,803 56,059,824 59,221,453 55,683,335
Diluted (in shares) 60,916,985 56,966,548 59,221,453 56,666,290
Service fee revenue        
REVENUE        
Total service revenue $ 363,918 $ 316,501 $ 716,338 $ 619,776
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 39,797 $ 37,874 $ 77,941 $ 76,365