- RadNet (RDNT, Financial) reports a 9.2% increase in revenue to $471.4 million for Q1 2025 despite adverse weather impacts.
- The Digital Health segment saw robust growth, with revenue climbing 31.1% to $19.2 million.
- RadNet plans to acquire iCAD to boost AI-powered breast cancer detection capabilities.
RadNet, Inc. (RDNT), a leading provider of diagnostic imaging services, has announced its financial results for the first quarter of 2025. Despite encountering weather-related challenges such as Southern California wildfires and severe winter conditions, the company recorded a total revenue increase of 9.2% year-over-year, reaching $471.4 million.
The company's Digital Health segment demonstrated significant progress, achieving a 31.1% rise in revenue to $19.2 million. However, Adjusted EBITDA saw a decline of 20.6%, falling to $46.4 million, largely due to a $15 million impact from the adverse weather conditions. These events also contributed to an adjusted loss per share of $(0.35), compared to earnings of $0.07 per share for the same period in 2024.
RadNet has announced its intention to acquire iCAD, Inc. The acquisition is expected to enhance RadNet's AI-powered breast cancer detection capabilities by adding over 1,500 healthcare provider locations, thus facilitating more than eight million annual mammograms across more than 50 countries. This strategic move aligns with RadNet's commitment to advancing AI technology in breast cancer screening.
Amid these developments, RadNet has revised its financial guidance upwards for 2025. The company now expects revenue to range between $1.835 billion and $1.885 billion, with Adjusted EBITDA projected between $268 million and $276 million. Additionally, RadNet maintains a strong balance sheet with $717 million in cash, providing substantial flexibility for future growth initiatives.
