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RDNT 8-K filings, explained
Every material Form 8-K RadNet has filed with the SEC since May 10, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
RadNet agreed on October 26, 2026 to acquire ONRAD, Inc., a teleradiology and in-hospital radiology staffing provider, for $350 million in cash and 5 million RadNet shares, subject to customary adjustments, plus an earnout of up to $210 million tied to ONRAD's 2027 Adjusted EBITDA. RadNet says ONRAD would add $190 million to $200 million of revenue and $60 million to $65 million of Adjusted EBITDA in its first year after closing, but the deal adds cash outflow and share issuance, and closing is expected in early 2027.
Upfront consideration of $350 million in cash and 5,000,000 shares of RadNet common stock, subject to customary adjustments and escrow holdbacks
Earnout of up to $210 million if ONRAD meets a target Post-Closing Annual Adjusted EBITDA for the fiscal year ending December 31, 2027, payable in cash, shares or both
RadNet expects ONRAD to add $190 million to $200 million of revenue and $60 million to $65 million of Adjusted EBITDA in its first year after closing
Closing expected in early 2027; the Hart-Scott-Rodino waiting period has expired, and a conference call is set for 8:00 a.m. Eastern Time on October 27, 2026
RadNet reported second-quarter 2026 revenue of $622.7 million, up 25.0%, and Adjusted EBITDA of $99.7 million, up 22.7%, both described as quarterly records. The company raised its 2026 Imaging Center guidance for revenue, Adjusted EBITDA and free cash flow, but GAAP net income attributable to RadNet fell to $7.5 million ($0.10 per diluted share) from $14.5 million ($0.19) a year earlier.
Total Company Revenue rose 25.0% to $622.7 million and Adjusted EBITDA rose 22.7% to $99.7 million versus Q2 2025.
Net income attributable to RadNet was $7.5 million, or $0.10 per diluted share, compared with $14.5 million, or $0.19, in Q2 2025.
Adjusted EPS was $0.29 versus $0.34 in Q2 2025, after one-time items including $6.6 million of acquisition transaction costs and a $3.4 million debt restructuring loss.
2026 Imaging Center guidance raised to revenue of $2,370-$2,420 million and Adjusted EBITDA of $345-$358 million; Digital Health guidance reaffirmed.
RadNet entered into an amendment to its credit agreement that adds a $250.0 million incremental term loan, maturing April 18, 2031, and lowers the interest rate on its term loan and $282 million revolving credit facility by 0.25%. The company plans to use the proceeds for acquisitions, organic expansion, health system partnerships and general corporate purposes, while quarterly principal payments rise to approximately $3.1 million from approximately $2.4 million.
$250.0 million incremental term loan added to the existing term loan, maturing April 18, 2031
Term loan rate reduced 0.25% to Term SOFR plus 2.00% or Alternate Base Rate plus 1.00%, at the company's election
Quarterly principal payments rise to approximately $3.1 million from approximately $2.4 million
Revolving credit facility of $282 million, currently undrawn, had its rate reduced 0.25%
RadNet reported first-quarter 2026 revenue of $575.6 million, up 22.1% from a year earlier, and Adjusted EBITDA of $63.3 million, up 36.3%. The company still posted a net loss attributable to RadNet common stockholders of $33.5 million, or $(0.43) per share, narrowed from a $37.9 million loss, or $(0.51) per share, a year earlier. It raised 2026 Imaging Center guidance for revenue, Adjusted EBITDA and free cash flow and reaffirmed Digital Health guidance.
Total Company revenue was $575.6 million, up $104.2 million from $471.4 million in Q1 2025.
Imaging Center revised 2026 revenue guidance to $2,355 million to $2,405 million, from $2,325 million to $2,375 million.
Imaging Center revised 2026 Adjusted EBITDA guidance to $340 million to $353 million, from $335 million to $348 million; free cash flow guidance rose to $112 million to $122 million, from $105 million to $115 million.
Digital Health revenue rose 51.5% to $29.1 million, while its Adjusted EBITDA fell to $1.3 million from $3.7 million; Digital Health guidance was reaffirmed.
RadNet reported fourth-quarter 2025 revenue of $547.7 million, up 14.8%, and a record Adjusted EBITDA of $87.7 million, up 16.9%. Adjusted EPS was $0.23 versus $0.24 a year earlier, and the company swung to a GAAP net loss attributable to RadNet common stockholders of $0.6 million from net income of $5.3 million. The company also issued 2026 guidance and announced the Gleamer acquisition.
Q4 2025 revenue $547.7 million, up 14.8% from $477.1 million; Adjusted EBITDA $87.7 million, up 16.9%
Q4 2025 diluted GAAP net loss per share $(0.01), compared with net income per share of $0.07 in Q4 2024
2026 Imaging Center guidance: revenue $2,325-$2,375 million; Adjusted EBITDA $335-$348 million; free cash flow $105-$115 million
Full-year 2025 Total Company net loss $18.7 million (before one-time items), versus net income of $2.8 million in 2024
RadNet, Inc. announced on January 7, 2026 the promotion of four senior leaders to expanded executive roles, effective immediately. Stephen Forthuber and Norman Hames were elevated to President and Chief Executive Officer of their regional operations, and Mital Patel became Executive Vice President and Chief Operating Officer. The filing also discloses planned base salary increases effective January 1, 2026, for these officers and other executives, including the CFO.
Stephen Forthuber promoted from President and COO, Eastern Operations, to President and CEO, Eastern Operations
Norman Hames promoted from President and COO, Western Operations, to President and CEO, Western Operations
Mital Patel promoted to Executive Vice President and Chief Operating Officer; Dr. Greg Sorensen moved to Chief Strategy Officer
Base salaries to be revised to $950,000 for Forthuber, $950,000 for Hames and $925,000 for Patel, effective January 1, 2026
RadNet reported third-quarter 2025 revenue of $522.9 million, up 13.4%, and Adjusted EBITDA of $84.9 million, up 15.2%. Net income attributable to RadNet stockholders was $5.4 million, or $0.07 per diluted share, compared with $3.2 million, or $0.04, a year earlier. The company raised its full-year 2025 revenue and Adjusted EBITDA guidance for the Imaging Center segment and its revenue guidance for Digital Health, which is a positive signal for shareholders.
Q3 2025 revenue was $522.9 million, up from $461.1 million; Adjusted EBITDA was $84.9 million, up 15.2%.
Q3 2025 net income attributable to RadNet was $5.4 million, or $0.07 per diluted share, versus $3.2 million, or $0.04, in Q3 2024.
Imaging Center 2025 revenue guidance was raised to $1,900 - $1,930 million and Adjusted EBITDA guidance to $276 - $284 million.
For the first nine months of 2025, the company reported a net loss of $18.1 million, or $(0.24) per share; cash was $804.7 million at September 30, 2025.
RadNet reported second-quarter 2025 revenue of $498.2 million, up 8.4% from a year earlier, and net income attributable to RadNet common stockholders of $14.5 million, or $0.19 per diluted share, compared with a net loss of $3.0 million in the second quarter of 2024. The company raised its full-year 2025 Imaging Center revenue and Adjusted EBITDA guidance ranges, which matters to shareholders because it sets a higher expected earnings base for the year.
Q2 2025 Total Company Revenue was $498.2 million, up from $459.7 million; Adjusted EBITDA was $81.2 million, up 12.3%.
GAAP net income attributable to RadNet common stockholders was $14.5 million ($0.19 per diluted share) versus a net loss of $3.0 million in Q2 2024.
Imaging Center 2025 Total Net Revenue guidance was raised to $1,850 - $1,900 million and Adjusted EBITDA guidance to $271 - $279 million.
For the first six months of 2025, the company reported a net loss attributable to RadNet common stockholders of $23.5 million.
RadNet, Inc. and its subsidiary Radnet Management, Inc. entered into an amendment to their credit agreement with Barclays Bank PLC as lender and administrative agent, adding a $100.0 million incremental term loan that matures April 18, 2031. The company plans to use the proceeds for future acquisitions and general corporate purposes, and stockholders also approved the auditor and executive pay proposals at the June 10, 2025 annual meeting.
$100.0 million 2025 Incremental Term Loan from Barclays Bank PLC, maturing April 18, 2031, alongside a $868.4 million balance of the existing term loan
Proceeds to fund future acquisitions and general corporate purposes
Quarterly principal payments rise to approximately $2.4 million from approximately $2.2 million
At the June 10, 2025 annual meeting, Ernst & Young LLP was ratified with 67,788,289 votes for, and the non-binding executive pay proposal passed with 50,822,611 votes for and 10,417,523 against
RadNet reported first-quarter 2025 revenue of $471.4 million, up 9.2%, but Adjusted EBITDA fell 20.6% to $46.4 million and the company posted a net loss attributable to RadNet of $37.9 million, compared with a $2.8 million loss a year earlier. The company raised its full-year 2025 revenue and Adjusted EBITDA guidance ranges, citing the Southern California wildfires and severe winter weather that it said reduced first-quarter revenue by about $22 million.
Total Company revenue rose to $471.4 million from $431.7 million; Adjusted EBITDA fell to $46.4 million from $58.5 million.
Net loss per share was $(0.51) versus $(0.04) a year earlier; adjusted diluted loss per share was $(0.35) versus adjusted earnings of $0.07.
Imaging Center revenue guidance was raised to $1,835 million to $1,885 million from $1,825 million to $1,875 million; Adjusted EBITDA guidance was raised to $268 million to $276 million from $265 million to $273 million.
RadNet signed a definitive agreement on April 15, 2025 to acquire iCAD, Inc., subject to customary closing conditions.
RadNet reported fourth quarter 2024 total revenue of $477.1 million, up 13.5%, and Adjusted EBITDA of $75.0 million, up 14.0%, with GAAP net income attributable to RadNet stockholders of $5.3 million compared with a net loss of $1.9 million a year earlier. For full-year 2024, GAAP net income attributable to RadNet was $2.8 million, slightly below $3.0 million in 2023, and the company issued 2025 guidance that factors in an estimated $22 million revenue and $15 million Adjusted EBITDA hit from winter weather and Southern California fires.
Q4 2024 revenue $477.1 million, up $56.7 million (13.5%) from Q4 2023; Adjusted EBITDA $75.0 million, up 14.0%
Q4 2024 GAAP net income attributable to RadNet $5.3 million, or $0.07 per diluted share, versus a net loss of $1.9 million a year earlier
Full-year 2024 GAAP net income attributable to RadNet $2.8 million versus $3.0 million in 2023
2025 guidance: Imaging Center revenue $1,825-$1,875 million; Digital Health revenue $80-$90 million
RadNet and its subsidiary RadNet Management entered into an amendment to their credit agreement that lowers interest rates on the term loans and revolving credit facility by 0.25%. The company borrowed $872,812,500 in new term loans to refinance existing term loans, and it estimates the change will reduce annual cash interest expense by about $2.2 million.
New term loans of $872,812,500 refinance existing term loans under the Restated Credit Agreement dated April 18, 2024.
Term loan rate reduced to Term SOFR plus 2.25% or alternate base rate plus 1.25%; revolver initially Term SOFR plus 2.75% or alternate base rate plus 1.75%.
RadNet estimates about $2.2 million in annual cash interest expense reduction; the company provided six months of call protection to lenders.
Maturity dates, covenants and security are unchanged; the closing was expected the following week per the November 22, 2024 press release.
RadNet reported third quarter 2024 revenue of $461.1 million, up 14.7%, and Adjusted EBITDA of $73.7 million, up 27.2%, with Adjusted diluted EPS of $0.18 versus $0.13. GAAP net income attributable to common stockholders fell to $3.2 million ($0.04 per diluted share) from $17.5 million ($0.25), and the company raised its Imaging Center revenue and Adjusted EBITDA guidance for 2024.
Q3 2024 Total Company Revenue was $461.1 million, up from $402.0 million; Adjusted EBITDA was $73.7 million, up from $57.9 million.
GAAP net income attributable to RadNet common stockholders was $3.2 million, or $0.04 per diluted share, versus $17.5 million, or $0.25, in Q3 2023; the company cited an $8.1 million non-cash loss from interest rate swaps among one-time ite
Adjusted diluted EPS was $0.18 versus $0.13 a year earlier.
Imaging Center 2024 guidance now projects Total Net Revenue of $1,710 - $1,760 million (up from $1,685 - $1,735 million) and Adjusted EBITDA of $262 - $270 million (up from $257 - $267 million).
RadNet appointed Cornelis "Kees" Wesdorp, former Hellman & Friedman managing director and ex-Philips executive, as President and Chief Executive Officer of its Digital Health segment, effective October 1, 2024. The filing sets his pay package, including a signing bonus of $750,000 in stock and restricted stock units for 50,000 shares, which signals the company's investment in its eRad and artificial intelligence businesses.
Wesdorp's annual base salary is €636,000, with bonuses equal to his annual compensation in 2026 and 2027.
Signing bonus of $750,000, payable in RadNet common stock valued at the start of employment.
Restricted stock units for 50,000 shares vest in 10,000-share increments over five anniversaries of his start date.
RadNet reported second-quarter 2024 revenue of $459.7 million, up 13.9%, and raised its 2024 guidance for Imaging Center revenue, Adjusted EBITDA and free cash flow. GAAP results were weaker: the company posted a net loss attributable to RadNet of $3.0 million, or $(0.04) per share, compared with net income of $8.4 million, or $0.12 per diluted share, a year earlier.
Total Company Revenue rose 13.9% to $459.7 million in Q2 2024 from $403.7 million in Q2 2023; Adjusted EBITDA rose 19.7% to $72.3 million.
GAAP net loss attributable to RadNet was $3.0 million in Q2 2024, versus net income of $8.4 million in Q2 2023; Adjusted Diluted EPS was $0.16 versus $0.10.
Imaging Center revised 2024 Total Net Revenue guidance to $1,685-$1,735 million and Adjusted EBITDA guidance to $257-$267 million, both raised from the post-Q1 ranges.
Cash balance was $741.7 million at June 30, 2024, after an April 2024 refinancing that funded about $168 million of additional cash.
RadNet reported first quarter 2024 revenue of $431.7 million, up 10.5% from a year earlier, and Adjusted EBITDA of $58.5 million, up 21.4%. The company raised its 2024 guidance ranges for revenue, Adjusted EBITDA and free cash flow, while still reporting a net loss attributable to common stockholders of $2.8 million for the quarter.
Total company revenue rose 10.5% to $431.7 million; Adjusted EBITDA rose 21.4% to $58.5 million for the quarter ended March 31, 2024.
GAAP net loss attributable to RadNet common stockholders was $2.8 million, or $(0.04) per share, versus a $21.0 million loss, or $(0.36) per share, a year earlier.
Imaging Center segment revenue guidance for 2024 was revised to $1,675 - $1,725 million from $1,650 - $1,700 million.
Cash and cash equivalents were $527.0 million at March 31, 2024, after a March common stock offering that raised net proceeds of approximately $219 million.
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