v3.26.3
SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 30, 2026
Accounting Policies [Abstract]  
Schedule of Service Fee Revenue
Our total revenues for the three and nine months ended September 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
September 30,		Nine Months Ended
September 30,
2026202520262025
Commercial insurance$343,331 $287,769 $998,859 $829,295 
Medicare158,128 123,254 445,872 347,641 
Medicaid14,759 13,470 43,239 37,735 
Workers' compensation/personal injury13,245 11,347 39,091 32,460 
Other payors37,557 29,962 107,932 87,064 
Management fee revenue7,574 7,044 22,912 20,011 
Other revenue32,421 18,580 86,917 44,632 
Revenue under capitation arrangements31,242 31,443 91,786 93,660 
Total service revenue$638,257 $522,869 $1,836,608 $1,492,498 
Schedule of Goodwill Activity in goodwill for the nine months ended September 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 acquisitions62,994 171,689 234,683 
Measurement period and other adjustments— 1,648 1,648 
Currency translation(338)(6,670)(7,008)
Balance as of September 30, 2026$804,549 $332,437 $1,136,986 
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 September 30, 2026 are as follows (in thousands):
As of September 30, 2026:
2026*2027202820292030ThereafterTotalWeighted average amortization period remaining in years
Management service contracts$572 $2,287 $2,287 $2,287 $2,287 $2,097 $11,817 5.1
Covenant not to compete and other contracts464 1,826 1,736 1,245 162 8 5,441 3.0
Customer lists1,936 7,741 7,670 7,670 7,667 91,304 123,988 16.3
Patent and trademarks101 384 320 56 43 84 988 3.2
Developed technology & software3,274 12,640 12,640 7,313 6,804 17,034 59,705 5.8
Trade names definite life478 1,912 1,877 1,352 1,252 3,939 10,810 8.3
Certifications553 245 — — — — 798 0.3
Backlog340 1,360 227 — — — 1,927 1.3
Others109 438 438 218 — — 1,203 2.7
Trade names indefinite life— — — — — 7,100 7,100 
IPR&D— — — — — 11,286 11,286 
Total annual amortization$7,827 $28,833 $27,195 $20,141 $18,215 $132,852 $235,063 
*Excluding the nine months ended September 30, 2026
Schedule of Foreign Currency Translation Amounts The following is a reconciliation of Foreign Currency Translation amounts for the three and nine months ended September 30, 2026 and 2025 (in thousands):
For the three months ended September 30, 2026
June 30, 2026 BalanceCurrency Translation AdjustmentsSeptember 30, 2026 Balance
Currency Translation Adjustments$(3,005)$(2,307)$(5,312)
For the nine months ended September 30, 2026
December 31, 2025 BalanceCurrency Translation AdjustmentsSeptember 30, 2026 Balance
Currency Translation Adjustments$7,384$(12,696)$(5,312)


For the three months ended September 30, 2025
June 30, 2025 BalanceCurrency Translation Adjustments BalanceSeptember 30, 2025 Balance
Currency Translation Adjustments$7,935$(874)$7,061
For the nine months ended September 30, 2025
December 31, 2024 BalanceCurrency Translation Adjustments BalanceSeptember 30, 2025 Balance
Currency Translation Adjustments$(5,697)$12,758$7,061
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 September 30, 2026
EntityAccountJune 30, 2026 BalanceAdditionsSettlement of Contingent ConsiderationChange in valuation of contingent considerationCurrency TranslationSeptember 30, 2026 Balance
See-Mode Technologies Pte. Ltd.Accrued expenses and other non-current liabilities$7,028 $— $(4,785)$803 $47 $3,093 
Kolb Radiology P.C.Accrued expenses and other non-current liabilities$373 $— $— $127 $— $500 
CIMAR (UK) LimitedAccrued expenses and other non-current liabilities$6,761 $— $— $261 $10 $7,032 
Gleamer SASAccrued expenses$8,682 $— $— $7,066 $(218)$15,530 
For the nine months ended September 30, 2026
EntityAccountDecember 31, 2025 BalanceAdditionsSettlement of Contingent ConsiderationChange in valuation of contingent considerationCurrency TranslationSeptember 30, 2026 Balance
See-Mode Technologies Pte. Ltd.Accrued expenses and other non-current liabilities$5,329 $— $(4,785)$2,520 $29 $3,093 
Kolb Radiology P.C.Accrued expenses and other non-current liabilities$3,900 $— $— $(3,400)$— $500 
CIMAR (UK) LimitedAccrued expenses and other non-current liabilities$5,753 $— $— $1,335 $(56)$7,032 
Gleamer SASAccrued expenses$— $8,618 $— $7,409 $(497)$15,530 
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 September 30, 2026
Level 1Level 2Level 3Total
Accrued expenses and other non-current liabilities
See-Mode Technologies Pte. Ltd.
$— $— $3,093 $3,093 
Kolb Radiology P.C.— — 500 500 
CIMAR (UK) Limited— — 7,032 7,032 
Gleamer SAS— — 15,530 15,530 
The table below summarizes the estimated fair value and carrying amount of our Barclays Term Loans and Truist Term Loan long-term debt as follows (in thousands):
As of September 30, 2026
Level 1Level 2Level 3Total Fair ValueTotal Face Value
Barclays Term Loan and Truist Term Loan$— $1,317,841 $— $1,317,841 $1,317,841 
As of December 31, 2025
Level 1Level 2Level 3Total Fair ValueTotal Face Value
Barclays Term Loan and Truist Term Loan$— $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 September 30,Nine Months Ended September 30,
2026202520262025
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS$4,153 $5,417 $(21,783)$(18,055)
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period77,926,702 75,950,350 77,594,151 74,703,658 
Basic net income (loss) per share attributable to RadNet, Inc.'s common stockholders
$0.05 $0.07 $(0.28)$(0.24)
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS
Weighted average number of common shares outstanding during the period77,926,702 75,950,350 77,594,151 74,703,658 
Add non-vested restricted stock subject only to service vesting964,497 241,221 — — 
Add additional shares issuable upon exercise of stock options and contingently issuable shares283,027 1,196,906 — — 
Weighted average number of common shares used in calculating diluted net income per share79,174,226 77,388,477 77,594,151 74,703,658 
Changes in FV associated with contingently issuable shares$— $— $— $— 
Net income (loss) attributable to RadNet, Inc's common stockholders for diluted share calculation
$4,153 $5,417 $(21,783)$(18,055)
Diluted net income (loss) income per share attributable to RadNet, Inc.'s common stockholders
$0.05 $0.07 $(0.28)$(0.24)
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— — 1,026,498 924,045 
Shares issuable upon the exercise of stock options— — 885,155 860,442 
Schedule of Investment in Joint Ventures
The table below summarizes our ownership interest in these unconsolidated joint ventures as of September 30, 2026:
Joint VenturePercentage Ownership
Franklin Imaging, LLC49 %
Greater Baltimore Diagnostic Imaging50 %
Carroll County Radiology, LLC40 %
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 nine months ended September 30, 2026 (in thousands):
Balance as of December 31, 2025$130,340 
Equity in earnings in joint ventures12,735 
Distribution of earnings(8,491)
Derecognition of investments upon consolidation(3,077)
Balance as of September 30, 2026$131,507 
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 September 30, 2026 and December 31, 2025 and income statement data for the three and nine month ended September 30, 2026 and 2025 (in thousands):
Balance Sheet Data:September 30, 2026December 31, 2025
Current assets$95,472 $79,220 
Noncurrent assets218,279 227,447 
Current liabilities(10,908)(10,682)
Noncurrent liabilities(77,538)(71,298)
Total net assets$225,305 $224,687 
Three months ended September 30,Nine months ended September 30,
Income statement data2026202520262025
Net revenue$74,901 $72,292 $225,200 $211,003 
Operating expense, excluding depreciation and amortization60,918 59,325 183,102 172,021 
Depreciation and amortization4,930 5,155 14,795 15,612 
Non-operating expense175 91 269 742 
Net income$8,878 $7,721 $27,034 $22,628