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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE        
Total service revenue $ 461,142 $ 401,968 $ 1,352,563 $ 1,196,247
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 391,800 341,635 1,169,113 1,038,647
Depreciation and amortization 34,979 32,210 101,822 95,705
Gain on contribution of imaging centers into joint venture 0 (16,808) 0 (16,808)
Loss on sale and disposal of equipment and other 148 527 735 1,183
Severance costs 304 1,153 797 3,157
Total operating expenses 427,231 358,717 1,272,467 1,121,884
INCOME FROM OPERATIONS 33,911 43,251 80,096 74,363
OTHER INCOME AND EXPENSES        
Interest expense 19,427 16,115 61,776 47,876
Equity in earnings of joint ventures (3,595) (1,084) (11,308) (3,935)
Non-cash change in fair value of interest rate hedge 6,755 1,015 7,429 949
Debt restructuring and extinguishment expenses 147 0 8,909 0
Other income (5,414) (4,081) (16,248) (2,609)
Total other expenses 17,320 11,965 50,558 42,281
INCOME BEFORE INCOME TAXES 16,591 31,286 29,538 32,082
Provision for income taxes (4,335) (7,220) (4,927) (7,741)
NET INCOME 12,256 24,066 24,611 24,341
Net income attributable to noncontrolling interest 9,047 6,526 27,163 19,437
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 3,209 $ 17,540 $ (2,552) $ 4,904
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS, Basic (in dollars per share) $ 0.04 $ 0.26 $ (0.04) $ 0.08
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS, Diluted (in dollars per share) $ 0.04 $ 0.25 $ (0.04) $ 0.08
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 73,494,709 67,793,404 72,587,321 62,113,707
Diluted (in shares) 75,165,435 68,809,818 72,587,321 63,221,251
Service fee revenue        
REVENUE        
Total service revenue $ 427,579 $ 361,927 $ 1,247,513 $ 1,078,265
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 33,563 $ 40,041 $ 105,050 $ 117,982