v3.26.1
SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Schedule of Service Fee Revenue
Our total revenues for the three and six months ended June 30, 2026 and 2025 are presented in the table below. Our 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
June 30,		Six Months Ended
June 30,
2026202520262025
Commercial insurance$339,401 $278,902 $655,367 $541,410 
Medicare150,821 116,331 287,923 224,499 
Medicaid14,452 12,597 28,468 24,283 
Workers' compensation/personal injury13,533 10,642 25,830 21,114 
Other payors36,831 29,394 70,383 57,087 
Management fee revenue7,858 6,688 15,339 12,967 
Other revenue29,693 13,509 54,497 26,052 
Revenue under capitation arrangements30,131 30,167 60,544 62,217 
Total service revenue$622,720 $498,230 $1,198,351 $969,629 
Schedule of Goodwill Activity in goodwill for the six months ended June 30, 2026 is provided below (in thousands):
Imaging Center segmentDigital Health segmentTotal
Balance as of December 31, 2025$741,893 $165,770 $907,663 
Goodwill from acquisitions47,491 171,121 218,612 
Measurement period and other adjustments— 1,684 1,684 
Currency translation(357)(5,134)(5,491)
Balance as of June 30, 2026$789,027 $333,441 $1,122,468 
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 June 30, 2026 and December 31, 2025 are as follows (in thousands):
As of June 30, 2026:
2026*2027202820292030ThereafterTotalWeighted average amortization period remaining in years
Management service contracts$1,144 $2,287 $2,287 $2,287 $2,287 $2,097 $12,389 5.3
Covenant not to compete and other contracts988 1,826 1,736 1,245 162 8 5,965 3.2
Customer lists4,092 8,077 8,036 8,036 8,033 93,619 129,893 16.2
Patent and trademarks202 382 318 66 43 83 1,094 3.4
Developed technology & software6,557 12,619 12,619 7,538 6,827 17,115 63,275 5.9
Trade Names definite life959 1,918 1,883 1,332 1,119 4,099 11,310 8.5
Certifications984 495 247 — — — 1,726 0.2
Others219 438 438 219 — — 1,314 2.9
Trade names indefinite life— — — — — 7,100 7,100 
IPR&D— — — — — 11,282 11,282 
Total annual amortization$15,145 $28,042 $27,564 $20,723 $18,471 $135,403 $245,348 
*Excluding the six months ended June 30, 2026

As of December 31, 2025:
20262027202820292030ThereafterTotalWeighted average amortization period remaining in years
Management Service Contracts$2,287 $2,287 $2,287 $2,287 $2,287 $2,096 $13,531 5.8
Covenant not to compete and other contracts2,039 1,745 1,655 1,195 119 — 6,753 3.6
Customer lists3,914 3,736 3,694 3,694 3,694 43,016 61,748 16.9
Patent and Trademarks763 391 326 67 43 83 1,673 3.1
Developed Technology & Software9,712 9,177 9,177 3,958 3,227 5,770 41,021 5.0
Trade Names definite life394 394 359 252 127 336 1,862 5.6
Certifications1,867 — — — — — 1,867 0.8
Others438 438 438 219 — — 1,533 3.4
Trade Names indefinite life— — — — — 8,500 8,500 
IPR&D— — — — — 10,020 10,020 
Total Annual Amortization$21,414 $18,168 $17,936 $11,672 $9,497 $69,821 $148,508 
Schedule of Foreign Currency Translation Amounts The following is a reconciliation of Foreign Currency Translation amounts for the three and six months ended June 30, 2026 and 2025 is provided below (in thousands):
For the three months ended June 30, 2026
March 31, 2026 BalanceCurrency Translation AdjustmentsJune 30, 2026 Balance
Currency Translation Adjustments$33$(3,038)$(3,005)

For the six months ended June 30, 2026
December 31, 2025 BalanceCurrency Translation AdjustmentsJune 30, 2026 Balance
Currency Translation Adjustments$7,384$(10,389)$(3,005)


For the three months ended June 30, 2025
March 31, 2025 BalanceCurrency Translation AdjustmentsJune 30, 2025 Balance
Currency Translation Adjustments$(1,588)$9,523$7,935
For the six months ended June 30, 2025
December 31, 2024 BalanceCurrency Translation AdjustmentsJune 30, 2025 Balance
Currency Translation Adjustments$(5,697)$13,632$7,935
Schedule of Business Acquisitions by Acquisition, Contingent Consideration A tabular roll forward of contingent consideration is as follows (amounts in thousands):
For the three months ended June 30, 2026
EntityAccountMarch 31, 2026 BalanceAdditionsChange in valuation of contingent considerationCurrency TranslationJune 30, 2026 Balance
See-Mode Technologies Pte. Ltd.Accrued expenses and other non-current liabilities$6,962 $— $90 $(24)$7,028 
Kolb Radiology P.C.Accrued expenses and other non-current liabilities$4,100 $— $(3,727)$— $373 
CIMAR (UK) LimitedAccrued expenses and other non-current liabilities$6,616 $— $137 $8 $6,761 
Gleamer SASAccrued expenses$8,424 $— $343 $(85)$8,682 
For the six months ended June 30, 2026
EntityAccountDecember 31, 2025 BalanceAdditionsChange in valuation of contingent considerationCurrency TranslationJune 30, 2026 Balance
See-Mode Technologies Pte. Ltd.Accrued expenses and other non-current liabilities$5,329 $— $1,717 $(18)$7,028 
Kolb Radiology P.C.Accrued expenses and other non-current liabilities$3,900 $— $(3,527)$— $373 
CIMAR (UK) LimitedAccrued expenses and other non-current liabilities$5,753 $— $1,074 $(66)$6,761 
Gleamer SASAccrued expenses$— $8,618 $343 $(279)$8,682 
Schedule of Fair Value of Assets and Liabilities
The table below summarizes the estimated fair values of contingencies relating to our acquisitions that are subject to fair value measurements and the classification of these liabilities on our condensed consolidated balance sheets, as follows (in thousands):
As of June 30, 2026
Level 1Level 2Level 3Total
Accrued expenses and other non-current liabilities
See-Mode Technologies Pte. Ltd.
$— $— $7,028 $7,028 
Kolb Radiology P.C.— — 373 373 
CIMAR (UK) Limited— — 6,761 6,761 
Gleamer SAS— — 8,682 8,682 
The table below summarizes the estimated fair value and carrying amount of our Barclays Term Loans and Truist Term Loan long-term debt as follows (in thousands):
As of June 30, 2026
Level 1Level 2Level 3Total Fair ValueTotal Face Value
Barclays Term Loan and Truist Term Loan$— $1,322,222 $— $1,322,222 $1,323,729 
As of December 31, 2025
Level 1Level 2Level 3Total Fair ValueTotal Face Value
Barclays Term Loan and Truist Term Loan$— $1,087,272 $— $1,087,272 $1,084,869 
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 June 30,Six Months Ended June 30,
2026202520262025
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS$7,530 $14,454 $(25,936)$(23,472)
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period77,788,452 74,352,498 77,425,061 74,070,438 
Basic net income (loss) per share attributable to RadNet, Inc.'s common stockholders
$0.10 $0.19 $(0.33)$(0.32)
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period77,788,452 74,352,498 77,425,061 74,070,438 
Add non-vested restricted stock subject only to service vesting906,831 1,113,969 — — 
Add additional shares issuable upon exercise of stock options and contingently issuable shares35,738 65,276 — — 
Weighted average number of common shares used in calculating diluted net income per share78,731,021 75,531,743 77,425,061 74,070,438 
Changes in FV associated with contingently issuable shares$— $— $— $— 
Net income (loss) attributable to RadNet, Inc's common stockholders for diluted share calculation
$7,530 $14,454 $(25,936)$(23,472)
Diluted net income (loss) income per share attributable to RadNet, Inc.'s common stockholders
$0.10 $0.19 $(0.33)$(0.32)
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 vesting— — 1,044,079 924,045 
Shares issuable upon the exercise of stock options— — 912,141 868,999 
Schedule of Investment in Joint Ventures
The table below summarizes our ownership interest in these unconsolidated joint ventures as of June 30, 2026:
Joint VenturePercentage Ownership
Franklin Imaging, LLC49 %
Greater Baltimore Diagnostic Imaging50 %
Advanced Imaging at St. Joseph Medical Center, LLC49 %
Carroll County Radiology, LLC40 %
Baltimore Washington Imaging, LLC35 %
Calvert Medical Imaging Centers, LLC50 %
Montgomery Community Magnetic Imaging Center, LLC49 %
Mt. Airy Imaging Center LLC40 %
Orange County Radiation Oncology, LLC40 %
Arizona Diagnostic Radiology Group, LLC49 %
Glendale Advanced Imaging Center, LLC55 %
Santa Monica Imaging Group, LLC49 %
The following table is a summary of our investment in joint ventures during the six months ended June 30, 2026 (in thousands):
Balance as of December 31, 2025$130,340 
Equity in earnings in joint ventures8,535 
Distribution of earnings(3,856)
Balance as of June 30, 2026$135,019 
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 June 30, 2026 and December 31, 2025 and income statement data for the three and six month ended June 30, 2026 and 2025 (in thousands):
Balance Sheet Data:June 30, 2026December 31, 2025
Current assets$95,060 $79,220 
Noncurrent assets232,621 227,447 
Current liabilities(11,340)(10,682)
Noncurrent liabilities(82,247)(71,298)
Total net assets$234,094 $224,687 
Three Months Ended June 30,Six Months Ended June 30,
Income statement data2026202520262025
Net revenue$76,970 $72,438 $150,299 $138,711 
Operating expense, excluding depreciation and amortization62,044 57,720 122,184 112,696 
Depreciation and amortization4,871 5,280 9,865 10,456 
Non-operating expense30 157 94 651 
Net income10,025 9,281 18,156 14,908