Pulling SEC filings + quote and writing the call…

RadNet, Inc.
Next earnings Aug 6, 2026 · consensus $0.21 EPS, $621M rev
Last earnings -3.9% on 2026-05-11
Imaging volume and AI story are real, but FY2025 flipped to a net loss while leverage and share count keep creeping — own it, don't chase.
RadNet is executing on the top line — FY2025 revenue grew 11.5% to $2.04B, the fifth straight year of growth, with center count expanding from 366 in 2023 to 418 in 2025 and commercial insurance revenue (the highest-margin payor mix) up to $1.13B from $1.02B. The MD&A frames a credible two-segment story: a scaling Imaging Centers business plus a Digital Health segment housing 22 FDA-cleared AI solutions, 2,000+ external customers, and three recently closed acquisitions (iCAD, See-Mode, CIMAR). Operating cash flow of $299M (+28.2% YoY) confirms the core business throws off real cash, and the $767M cash balance gives ample runway.
Sources: SEC EDGAR (CIK 0000790526, latest 10-Q filed 2026-05-11) · EODHD · analysis by claude-code · as of 6/25/2026, 12:48:13 PM.
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The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.32B | $1.43B | $1.62B | $1.83B | $2.04B |
| Gross profit | — | — | — | — | — |
| Operating income | $82.6M | $46.4M | $98.7M | $105M | $62.0M |
| Net income | $24.7M | $10.7M | $3.04M | $2.79M | -$18.7M |
| Diluted EPS | $0.46 | $0.17 | $0.05 | $0.04 | -$0.25 |
| Net margin | 1.9% | 0.7% | 0.2% | 0.2% | -0.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Entered new material credit agreement creating direct financial obligation; added leverage
Annual meeting vote results disclosed; routine governance with no strategic change
Regulation FD disclosure of other event; informational update to investors
Q1 2026 results filed; seasonally weakest quarter for imaging volumes
Q1 2026 results filed; seasonally weakest quarter for imaging volumes
Annual proxy: director slate, exec comp, auditor ratification — routine
FY25 rev $2.04B (+11.5%) but net loss $18.7M on AI acquisitions and rate pressure
FY25 rev $2.04B (+11.5%) but net loss $18.7M on AI acquisitions and rate pressure
FY25 rev $2.04B (+11.5%) but net loss $18.7M on AI acquisitions and rate pressure
Last 90 days: 0 open-market buys · 4 sales
| 2026-06-18 | SWARTZ DAVID L Director | Sell | 2.70K @ $53.89 | $145K |
| 2026-06-16 | Wesdorp Cornelis Pres & CEO, Digital Health | Sell | 4.75K @ $58.11 | $276K |
| 2026-06-16 | Berger Howard G President, CEO | Gift | 90.00 | |
| 2026-06-15 | Forthuber Stephen M Pres & CEO-Eastern Operations | Sell | 24.2K @ $57.79 | $1.40M |
| 2026-06-15 | Forthuber Stephen M Pres & CEO-Eastern Operations | Sell | 19.9K @ $58.61 | $1.16M |
| 2026-06-02 | SWARTZ DAVID L Director | Award | 2.95K | |
| 2026-06-02 | SPURLOCK GREGORY E. Director | Award | 2.95K | |
| 2026-06-02 | Jacobs Laura Pastre Director | Award | 2.95K | |
| 2026-06-02 | Levitt Lawrence L Director | Award | 2.95K |
1070 tracked peers · median
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.