Radnet Q3 2024 Earnings Report
Key Takeaways
RadNet reported strong growth in Q3 2024, with record revenue driven by both Imaging Center and Digital Health segments. Total Company Revenue increased by 14.7% year-over-year to $461.1 million, and the Digital Health segment saw a 34.3% increase. The company is revising upwards its 2024 guidance for Revenue, Adjusted EBITDA, and Free Cash Flow.
Total Company Revenue grew 14.7% year-over-year to a record $461.1 million.
Digital Health segment Revenue increased 34.3% year-over-year to $16.4 million, driven by a 75.8% increase in AI Revenue.
Total Company Adjusted EBITDA margin increased by 156 basis points to 16.0%.
RadNet is revising upwards its 2024 guidance ranges for Revenue, Adjusted EBITDA, and Free Cash Flow.
Radnet
Radnet
Forward Guidance
RadNet has increased guidance ranges of its core Imaging Center reporting segment for Revenue and Adjusted EBITDA. The company is expecting Free Cash Flow to be higher for the year as a result of the projected increase in Adjusted EBITDA and lower Cash Interest Expense. With respect to the Digital Health reportable segment, RadNet remains on track to meet its original guidance levels for Revenue, Adjusted EBITDA and Free Cash Flow.