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SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Schedule of Service Fee Revenue
Our total revenues during the three months ended March 31, 2025 and 2024 are presented in the table below. Our revenue is displayed as the estimated service fee, broken down by classification of insurance coverage type. We generate
revenues through the provision of management services provided to joint ventures. We also generate revenues through our
software and AI subsidiaries which are included within other revenue. patient service revenue is displayed as the estimated service fee, broken down by classification of insurance coverage type, along with revenue generated from our management services and other sources such as software and AI.
In ThousandsThree Months Ended
March 31,
20252024
Commercial insurance$262,488 $240,629 
Medicare108,199 93,525 
Medicaid11,690 10,887 
Workers' compensation/personal injury10,459 11,794 
Other payors27,691 25,385 
Management fee revenue6,279 5,908 
Other revenue12,543 9,061 
Revenue under capitation arrangements32,050 34,518 
Total service revenue$471,399 $431,707 
Schedule of Goodwill Activity in goodwill for the three months ended March 31, 2025 is provided below (in thousands):
Imaging Center segment
Digital Health segment
Total
Balance as of December 31, 2024628,537 $82,126 $710,663 
Goodwill from acquisitions3,969 — 3,969 
Measurement period and other adjustments— 87 87 
Currency translation— 2,761 2,761 
Balance as of March 31, 2025$632,506 $84,974 $717,480 
Schedule of Annual Amortization Expense The components of intangible assets, both finite and indefinite lived, along with annual amortization expense that will be recorded over the next five years at March 31, 2025 and December 31, 2024 are as follows (in thousands):
As of March 31, 2025:

2025*2026202720282029ThereafterTotalWeighted average amortization period remaining in years
Management service contracts$1,715 $2,287 $2,287 $2,287 $2,287 $4,386 $15,249 6.7
Covenant not to compete and other contracts705 679 385 295 126 3 2,193 3.1
Customer lists822 988 813 774 774 9,931 14,102 17.0
Patent and trademarks289 386 365 303 64 124 1,531 4.2
Developed technology5,627 7,463 6,928 6,928 2,123 4,611 33,680 5.3
Trade names amortized58 77 77 63 19 7 301 4.0
Trade names indefinite life— — — — — 8,500 8,500 
IPR&D— — — — — 4,180 4,180 
Total annual amortization$9,216 $11,880 $10,855 $10,650 $5,393 $31,742 $79,736 
*Excluding the three months ended March 31, 2025
As of December 31, 2024:
20252026202720282029ThereafterTotalWeighted average amortization period remaining in years
Management service contracts$2,287 $2,287 $2,287 $2,287 $2,291 $4,384 $15,823 6.9
Covenant not to compete and other contracts947 660 365 275 106 — 2,353 3.2
Customer lists1,084 962 786 750 750 9,628 13,960 17.2
Patent and trademarks293 293 293 293 51 121 1,344 5.0
Developed technology7,329 7,289 6,755 6,755 1,848 4,610 34,586 5.4
Trade names amortized77 77 77 63 19 8 321 4.3
Trade names indefinite life— — — — — 8,500 8,500 
IPR&D— — — — — 4,464 4,464 
Total annual amortization$12,017 $11,568 $10,563 $10,423 $5,065 $31,715 $81,351 
Schedule of Effect of Derivative Instruments on Comprehensive Income( 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 March 31, 2025
AccountDecember 31, 2024 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 taxes*March 31, 2025 BalanceLocation
Accumulated Other Comprehensive Loss, net of taxes$(2,273)$—$1,033$(1,240)Equity
*Net of taxes of $0.3 million for the three months ended March 31, 2025.

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 March 31, 2025
Ineffective interest rate swapAmount recognized (current period ineffective portion)Location recognized in profit and loss (current period ineffective portion)Amount reclassified from accumulated OCI (prior period effective portion)Location reclassified from accumulated OCI into profit and loss (prior period effective portion)
Interest rate contracts$2,106 Other income (expense)$1,033 Interest Expense
Schedule of Fair Value of Assets and Liabilities
The tables below summarize the estimated fair values of certain of our financial assets that are subject to fair value measurements, and the classification of these assets on our condensed consolidated balance sheets, as follows (in thousands):
 As of March 31, 2025
Level 1Level 2Level 3Total
Current assets    
2019 Swaps - Interest Rate Contracts$— $5,006 $— $5,006 
 As of December 31, 2024
Level 1Level 2Level 3Total
Current assets    
2019 Swaps - Interest Rate Contracts$— $7,112 $— $7,112 
The table below summarizes the estimated fair value compared to the face value of our long-term debt as follows (in thousands):
 As of March 31, 2025
Level 1Level 2Level 3Total Fair ValueTotal Face Value
Barclays Term Loan and Truist Term Loan$— $998,454 $— $998,454 $1,000,625 
 As of December 31, 2024
Level 1Level 2Level 3Total Fair ValueTotal Face Value
Barclays Term Loan and Truist Term Loan$— $1,006,713 $— $1,006,713 $1,005,625 
Schedule of Earnings Per Share Earnings per share is based upon the weighted average number of shares of common stock and common stock equivalents outstanding, net of common stock held in treasury, as follows (in thousands except share and per share data):
 Three Months Ended March 31,
20252024
NET LOSS ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS$(37,926)$(2,779)
BASIC AND DILUTED NET LOSS PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period74,382,356 69,307,078 
Basic and diluted net loss per share attributable to RadNet, Inc.'s common stockholders
$(0.51)$(0.04)
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 vesting910,334 699,721 
Shares issuable upon the exercise of stock options894,169 863,792 
Schedule of Investment in Joint Ventures
The following table is a summary of our investment in joint ventures during the three months ended March 31, 2025 (in thousands):
Balance as of December 31, 2024$104,057 
Equity in earnings in these joint ventures2,599 
Equity contributions in existing joint ventures4,147 
Balance as of March 31, 2025$110,803 
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 March 31, 2025 and December 31, 2024 and income statement data for the three months ended March 31, 2025 and 2024 (in thousands):
Balance Sheet Data:March 31, 2025December 31, 2024
Current assets$66,970 $61,158 
Noncurrent assets236,265 232,750 
Current liabilities(45,309)(53,182)
Noncurrent liabilities(73,328)(70,241)
Total net assets$184,598 $170,485 
Income statement data for the three months ended March 31,
20252024
Net revenue$66,274 $61,208 
Net income$5,628 $5,810