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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUE        
Total service revenue $ 401,968 $ 350,044 $ 1,196,247 $ 1,046,185
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 341,635 313,943 1,038,647 934,757
Depreciation and amortization 32,210 29,229 95,705 85,209
(Gain) on contribution of imaging centers into joint venture (16,808) 0 (16,808) 0
Loss (gain) on sale and disposal of equipment and other 527 (247) 1,183 962
Severance costs 1,153 195 3,157 496
Total operating expenses 358,717 343,120 1,121,884 1,021,424
INCOME (LOSS) FROM OPERATIONS 43,251 6,924 74,363 24,761
OTHER INCOME AND EXPENSES        
Interest expense 16,115 12,420 47,876 35,398
Equity in earnings of joint ventures (1,084) (3,085) (3,935) (8,350)
Non-cash change in fair value of interest rate hedge 1,015 (12,451) 949 (39,576)
Other (income) expenses (4,081) 1,405 (2,609) 1,562
Total other expense (income) 11,965 (1,711) 42,281 (10,966)
INCOME (LOSS) BEFORE INCOME TAXES 31,286 8,635 32,082 35,727
(Provision for) Benefit from income taxes (7,220) (2,188) (7,741) (7,087)
NET INCOME (LOSS) 24,066 6,447 24,341 28,640
Net income attributable to noncontrolling interests 6,526 5,779 19,437 17,055
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 17,540 $ 668 $ 4,904 $ 11,585
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.26 $ 0.01 $ 0.08 $ 0.21
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.25 $ 0.01 $ 0.08 $ 0.19
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 67,793,404 56,744,419 62,113,707 56,041,017
Diluted (in shares) 68,809,818 57,651,761 63,221,251 57,036,417
Service fee revenue        
REVENUE        
Total service revenue $ 361,927 $ 312,043 $ 1,078,265 $ 931,819
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 40,041 $ 38,001 $ 117,982 $ 114,366