Q2 2026 Lumexa Imaging Holdings Inc Earnings Call Transcript
Key Points
- Advanced modalities reached a record 37.4% of total volume, driving higher reimbursement and margins.
- PET volumes grew 23.2% year-over-year, with two of three new PET machines already operational.
- Formed a strategic joint venture with Hospital for Special Surgery, expanding into the New York metro area.
- Free cash flow hit a record $23.1 million in Q2, with a 41% conversion of adjusted EBITDA.
- Repriced debt in June 2026, reducing annual interest expense by $4 million starting in Q3.
- Adjusted EBITDA margin declined to 21.4% from 22.4% year-over-year, partly due to higher public company costs.
- G&A expenses increased by $5.7 million year-over-year, driven by public company costs and stock-based compensation.
- System-wide volume growth was modest at 3.1%, with routine scans tempering overall performance.
- Payer mix shifts in a few markets negatively impacted revenue per scan, though modestly.
- The HSS joint venture faces extended timelines due to New York CON requirements, delaying potential contributions.
Thank you for standing by, and welcome to the Lumexa Imaging Second Quarter 2026 Earnings Conference Call. (Operator Instructions) As a reminder, today's program is being recorded.
And now I'd like to introduce your host for today's program, Sue Dooley, Investor Relations. Please go ahead, ma'am.
Thank you, and hello, everyone. We appreciate you joining us today. Leading today's call are our Chief Executive Officer, Caitlin Zulla; and Tony Martin, our Chief Financial Officer.
Before we begin, I want to note that today's discussion will include forward-looking statements, including statements regarding our 2026 guidance, expected operating performance, growth initiatives, reimbursement assumptions, capital expenditures and other future events. These statements reflect our current expectations and assumptions, which are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to the forward-looking statements and risk factors
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