RadNet Q1 revenue rises 14% to $391M; raises full-year guidance for revenue and EBITDA

RadNet, Inc.

2023-Q1 EPS reported -$0.36 revenue$390,564,000

Revenue $390.6M, +14.3% YoY; Imaging Center segment $388.4M, +13.9%.
Adjusted EBITDA (Imaging Centers) $52.7M, +26.2%; total Adj. EBITDA $48.2M, +26.3%.
GAAP net loss $21.0M (($0.36)/share); adjusted loss per share improved to ($0.08) from ($0.13).
Procedural volumes: aggregate +14.0%, same-center +9.3%; MRI +16.7%, CT +16.8%, PET/CT +20.9%.
Revised FY2023 guidance: Imaging revenue $1.55-1.6B, Adj. EBITDA $225-235M; cash interest, capex ranges up.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RadNet, Inc. reported first quarter ended March 31, 2023 results: revenue $390.6 million, net income ($21.0 million), EPS $(0.36). Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: $390.6 million
Net income: ($21.0 million)
EPS: $(0.36)
Guidance: raised
Result: reported results

Exact text from the filing

Financial Results For the first quarter of 2023, RadNet reported Revenue from its Imaging Center reporting segment of $388.4 million and Adjusted EBITDA (1) , excluding Losses from AI reporting segment, of $52.7 million. Revenue increased $47.3 million (or 13.9%) and Adjusted EBITDA (1) , excluding Losses from the AI reporting segment, increased $10.9 million (or 26.2%). Including our AI reporting segment Revenue of $2.1 million, Revenue was $390.6 million in the first quarter of 2023, an increase of 14.3% from $341.8 million in last year’s first quarter. Unadjusted for AI reporting segment Adjusted EBITDA (1) losses of $4.5 million in the first quarter of 2023 and $3.6 million in the first quarter of 2022, Adjusted EBITDA (1) for the first quarter of 2023 was $48.2 million as compared with $38.1 million in the first quarter of 2022. Net Loss for the first quarter of 2023 was $21.0 million as compared with a Diluted Net Income of $3.0 million for the first quarter of 2022. Net Loss Per

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Source: SEC EDGAR

accession 0001683168-23-003132

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