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Highlights

  • Quarterly revenue reached USD 498.2 million, up 8.4% year-over-year.
  • Digital Health segment revenue grew 30.9% to USD 20.7 million.
  • Adjusted EPS increased to USD 0.31 from USD 0.16 last year.

RadNet, Inc. (NASDAQ: RDNT) reported its second-quarter 2025 financial results, posting record revenue and adjusted earnings. Total revenue for the quarter reached USD 498.2 million, an 8.4% increase from USD 459.8 million in Q2 2024. Adjusted EBITDA rose 12.3% to USD 81.2 million, with margins improving 57 basis points to 16.3%.

The company’s Digital Health segment delivered notable growth, with revenue increasing 30.9% year-over-year to USD 20.7 million. Advanced imaging volumes also contributed to the performance, with MRI procedures up 9.0%, CT volumes up 8.1%, and PET/CT scans climbing 22.4% compared to the same period in 2024.

Adjusted earnings totaled USD 23.8 million, or USD 0.31 per diluted share, nearly double the USD 12.0 million, or USD 0.16 per share, reported in Q2 2024. However, for the first six months of 2025, RadNet recorded a net loss of USD 23.5 million, widening from a USD 5.8 million loss in the same period of the prior year. The company attributed part of the first-half loss to an estimated USD 15 million Adjusted EBITDA impact from California wildfires and severe winter weather during Q1 2025.

Operating costs included USD 4.8 million in non-capitalized research and development expenses during the quarter, reflecting ongoing investment in technology initiatives. The company maintained a cash balance of USD 833.2 million at quarter-end and reported a low leverage ratio of 0.96x.

Given the Q2 performance, RadNet revised its full-year 2025 financial outlook upward. The company now expects total net revenue between USD 1.85 billion and USD 1.90 billion, compared to prior guidance of USD 1.82 billion to USD 1.87 billion. Adjusted EBITDA is projected in the range of USD 271 million to USD 279 million, up from previous guidance of USD 265 million to USD 275 million.

The revised guidance factors in continued growth in advanced imaging volumes, expansion in the Digital Health segment, and operational efficiencies. The company also indicated it will continue to monitor external factors such as weather disruptions and regional challenges that could affect operations.

RadNet’s Q2 2025 results reflect both revenue growth across service lines and ongoing investment in digital health solutions, while also showing the financial effects of earlier-year operational disruptions. The updated guidance signals expectations for continued performance improvement through the remainder of 2025.