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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUE        
Total service revenue $ 498,230 $ 459,714 $ 969,629 $ 891,421
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 429,085 389,724 882,565 777,313
Lease abandonment charges 123 0 5,511 0
Depreciation and amortization 35,993 34,475 71,476 66,843
Loss on sale and disposal of equipment and other 1,724 401 2,126 587
Severance costs 426 268 1,173 493
Total operating expenses 467,351 424,868 962,851 845,236
INCOME FROM OPERATIONS 30,879 34,846 6,778 46,185
OTHER INCOME AND EXPENSES        
Interest expense 17,189 26,082 34,428 42,349
Equity in earnings of joint ventures (4,356) (3,389) (6,955) (7,713)
Non-cash change in fair value of interest rate swap 1,956 1,890 4,062 674
Debt restructuring and extinguishment expenses 0 8,762 0 8,762
Other income (7,764) (7,900) (15,476) (10,834)
Total other expenses 7,025 25,445 16,059 33,238
INCOME (LOSS) BEFORE INCOME TAXES 23,854 9,401 (9,281) 12,947
(Provision for) benefit from income taxes (820) (2,456) 2,578 (592)
NET INCOME (LOSS) 23,034 6,945 (6,703) 12,355
Net income attributable to noncontrolling interest 8,580 9,927 16,769 18,116
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 14,454 $ (2,982) $ (23,472) $ (5,761)
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.19 $ (0.04) $ (0.32) $ (0.08)
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.19 $ (0.04) $ (0.32) $ (0.08)
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 74,352,498 73,419,124 74,070,438 71,795,080
Diluted (in shares) 75,531,743 73,419,124 74,070,438 71,795,080
Service fee revenue        
REVENUE        
Total service revenue $ 468,063 $ 422,745 $ 907,412 $ 819,934
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 30,167 $ 36,969 $ 62,217 $ 71,487