RadNet, Inc.RDNTEarnings & Financial Report
RadNet is an American radiology firm. The company operates outpatient diagnostic imaging services. Headquartered in Los Angeles, California, RadNet is the largest operator of freestanding, fixed-site diagnostic imaging centers in the United States, based on the number of locations and annual imaging revenue. As of 2025, the company owns and/or operates over 400 imaging centers across Arizona, California, Delaware, Florida, Maryland, New Jersey, New York, and Texas.
RDNT Q4 FY2025 Key Financial Metrics
Revenue
$547.7M
Gross Profit
N/A
Operating Profit
$27.8M
Net Profit
$-597.0K
Gross Margin
N/A
Operating Margin
5.1%
Net Margin
-0.1%
YoY Growth
14.8%
EPS
$0.00
RadNet, Inc. Q4 FY2025 Financial Summary
RadNet, Inc. reported revenue of $547.7M (up 14.8% YoY) for Q4 FY2025, with a net profit of $-597.0K (down 111.2% YoY) (-0.1% margin).
Key Financial Metrics
| Total Revenue | $547.7M |
|---|---|
| Net Profit | $-597.0K |
| Gross Margin | N/A |
| Operating Margin | 5.1% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
RadNet, Inc. Q4 FY2025 revenue of $547.7M breaks down across 9 segments, led by Commercial Insurance1 at $301.0M (54.9% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Commercial Insurance1 | $301.0M | 54.9% |
| Medicare1 | $129.2M | 23.6% |
| Capitation Arrangements | $31.9M | 5.8% |
| Health Care Other | $20.4M | 3.7% |
| Digital Health | $16.4M | 3.0% |
| Other | $15.2M | 2.8% |
| Medicaid1 | $14.0M | 2.6% |
| Workers Compensation Personal Injury1 | $12.3M | 2.2% |
| Health Care Management Service | $7.5M | 1.4% |
RadNet, Inc. Revenue by Segment — Quarterly Trend
RadNet, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Commercial Insurance1 and Medicare1) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Commercial Insurance1 | $301.0M | $287.8M | $278.9M | $262.5M |
| Medicare1 | $129.2M | $123.3M | $116.3M | $108.2M |
| Capitation Arrangements | $31.9M | $31.4M | $30.2M | $32.0M |
| Health Care Other | $20.4M | $18.6M | $13.5M | $12.5M |
| Digital Health | $16.4M | $14.6M | — | — |
RadNet, Inc. Annual Revenue by Year
RadNet, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.0B).
RadNet, Inc. Quarterly Revenue & Net Profit History
RadNet, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $547.7M | +14.8% | $-597.0K | -0.1% |
| Q3 FY2025 | $522.9M | +13.4% | $5.4M | 1.0% |
| Q2 FY2025 | $498.2M | +8.4% | $14.5M | 2.9% |
| Q1 FY2025 | $471.4M | +9.2% | $-37.9M | -8.0% |
| Q4 FY2024 | $477.1M | +13.5% | $5.3M | 1.1% |
| Q3 FY2024 | $461.1M | +14.7% | $3.2M | 0.7% |
| Q2 FY2024 | $459.7M | +13.9% | $-3.0M | -0.6% |
| Q1 FY2024 | $431.7M | +10.5% | $-2.8M | -0.6% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $431.7M | $459.7M | $461.1M | $477.1M | $471.4M | $498.2M | $522.9M | $547.7M |
| YoY Growth | 10.5% | 13.9% | 14.7% | 13.5% | 9.2% | 8.4% | 13.4% | 14.8% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.97B | $3.23B | $3.28B | $3.29B | $3.34B | $3.51B | $3.67B | $3.76B |
| Liabilities | $1.89B | $2.14B | $2.16B | $2.15B | $2.20B | $2.34B | $2.35B | $2.40B |
| Equity | $873.0M | $881.0M | $895.3M | $902.3M | $898.1M | $932.3M | $1.06B | $1.09B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $17.1M | $116.0M | $57.4M | $42.5M | $41.5M | $120.3M | $52.8M | $84.2M |