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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUE        
Total service revenue $ 459,714 $ 403,715 $ 891,421 $ 794,279
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 389,724 345,147 777,313 697,012
Depreciation and amortization 34,475 32,180 66,843 63,495
Loss on sale and disposal of equipment and other 401 77 587 656
Severance costs 268 1,870 493 2,004
Total operating expenses 424,868 379,274 845,236 763,167
INCOME FROM OPERATIONS 34,846 24,441 46,185 31,112
OTHER INCOME AND EXPENSES        
Interest expense 26,082 16,039 42,349 31,761
Equity in earnings of joint ventures (3,389) (1,423) (7,713) (2,851)
Non-cash change in fair value of interest rate hedge 1,890 (4,159) 674 (66)
Debt restructuring and extinguishment expenses 8,762 0 8,762 0
Other (income) expenses (7,900) 40 (10,834) 1,472
Total other expense 25,445 10,497 33,238 30,316
INCOME BEFORE INCOME TAXES 9,401 13,944 12,947 796
(Provision for) benefit from for income taxes (2,456) 614 (592) (521)
NET INCOME 6,945 14,558 12,355 275
Net income attributable to noncontrolling interest 9,927 6,189 18,116 12,911
NET (LOSS) INCOME ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ (2,982) $ 8,369 $ (5,761) $ (12,636)
BASIC NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS, Basic (in dollars per share) $ (0.04) $ 0.14 $ (0.08) $ (0.21)
DILUTED NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS, Diluted (in dollars per share) $ (0.04) $ 0.12 $ (0.08) $ (0.21)
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 73,419,124 59,880,803 71,795,080 59,221,453
Diluted (in shares) 73,419,124 60,916,985 71,795,080 59,221,453
Service fee revenue        
REVENUE        
Total service revenue $ 422,745 $ 363,918 $ 819,934 $ 716,338
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 36,969 $ 39,797 $ 71,487 $ 77,941