RadNet Q2 Revenue Surges 25% to $622.7M; Digital Health ARR Doubles to $105.5M
RDNT sits 52% above its 52-week low of $50.82 on elevated volume (2.0× avg).
Summary
RadNet posted record Q2 revenue of $622.7M (+25% YoY) and Adjusted EBITDA of $99.7M (+22.7% YoY), driven by imaging center volume growth and a doubling of Digital Health ARR to $105.5M. The quarter also included a $250M debt raise and the acquisition of AI firm Gleamer.
Key Events · Earnings and Guidance · RDNT
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Record Q2 Revenue and EBITDA
Revenue reached $622.7 million, up 25% year-over-year, and Adjusted EBITDA hit $99.7 million, up 22.7%, both quarterly records. Imaging Center same-center revenue grew 11.1% on higher procedure volumes and favorable mix shift toward advanced imaging.
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Digital Health ARR Doubles
Annual Recurring Revenue for the Digital Health segment surged to $105.5 million as of June 30, 2026, up from $53.5 million a year ago, driven by the Gleamer acquisition and strong organic growth in Clinical AI and Enterprise Informatics.
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$250M Incremental Term Loan Closed
On June 10, 2026, RadNet amended its Barclays credit agreement to add a $250 million incremental term loan and reduce the interest rate by 0.25% to SOFR + 2.00%. Total term loan debt now stands at $1.32 billion.
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Gleamer SAS Acquisition Completed
RadNet acquired AI imaging firm Gleamer SAS for $264.1 million, adding $170.9 million in goodwill and $111.6 million in intangible assets. The deal expands RadNet's AI capabilities in X-ray, MRI, CT, and mammography.
Analysis · RDNT · Industrial Applications And Services
A standout quarter saw revenue jump 25% to $622.7 million and Adjusted EBITDA climb 22.7% to $99.7 million—both quarterly records. The Imaging Center segment powered the beat on strong procedure volumes and a favorable mix shift toward advanced imaging, including PET/CT for Alzheimer's and prostate cancer. Meanwhile, the Digital Health segment's annual recurring revenue doubled year-over-year to $105.5 million, reflecting the Gleamer acquisition and organic growth. The bottom line, however, shows a net loss attributable to RadNet of $25.9 million for the first half, weighed down by higher interest expense, acquisition costs, and non-cash charges. The balance sheet remains solid with $726 million in cash and $323 million in available credit lines, but total debt has climbed to $1.34 billion after the $250 million incremental term loan. The subsequent formation of a major joint venture with University of Maryland Medical System further consolidates RadNet's market position.
At the time of this filing, RDNT was trading at $77.28 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $6.1B. The 52-week trading range was $50.82 to $85.84. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.