LOS ANGELES, June 07, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers, today announced that Mark Stolper, Executive Vice President and Chief Financial Officer, will be presenting at the Goldman Sachs 45th Annual Global Healthcare Conference on Monday, June 10, 2024 at 8:40 a.m. Eastern Time. Details for RadNet's Presentation: RadNet, Inc. is t ...

There will be simultaneous and archived webcasts available at https://urldefense.com/v3/__https://cc.webcasts.com/gold006/061024a_js/? entity=121_NWSYN1N__;!!COmMWt7_Sw!V66l0ZG5cxYwypkaKEI83IPMf5nghGoOxlElZW2FvPr2gR8n8oFoqWg8l4i9k_HD-P52j863_WQru8kCIE$ and www.radnet.com under the "News and Press Releases" sub-menu of the website. Date: Monday, June 10, 2024 Time: 8:40 a.m. Eastern Time Location: Miami, FL RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services ...

Core Viewpoint - RadNet (RDNT) has experienced significant stock price appreciation, with a 20.6% increase over the past month and a 75.6% rise since the beginning of the year, outperforming the broader medical sector and the outpatient and home healthcare industry [1][2]. Financial Performance - For the current fiscal year, RadNet is projected to achieve earnings of $0.59 per share on revenues of $1.77 billion, reflecting an 18% increase in EPS and a 9.22% increase in revenues [2]. - In the next fiscal year, earnings are expected to rise to $0.64 per share on revenues of $1.89 billion, indicating a year-over-year change of 7.91% in EPS and 7.29% in revenues [2]. Valuation Metrics - RadNet's stock trades at a high valuation of 103.5X current fiscal year EPS estimates, significantly above the peer industry average of 22.9X [4]. - On a trailing cash flow basis, RadNet trades at 18.3X compared to the peer group's average of 13.2X, suggesting a premium valuation [4]. - The company has a Value Score of C, a Growth Score of B, and a Momentum Score of C, resulting in a combined VGM Score of B [12]. Zacks Rank and Style Scores - RadNet holds a Zacks Rank of 2 (Buy), supported by rising earnings estimates, which positions it favorably for potential investment [5][13]. - The Zacks Style Scores provide a framework for investors to evaluate stocks based on individual investment styles, with RadNet showing solid scores in Growth and Momentum [3]. Industry Context - The Medical - Outpatient and Home Healthcare industry is performing well, ranking in the top 19% of all industries, which provides a favorable backdrop for RadNet and its peers [7]. - Encompass Health Corporation (EHC), a competitor, has also shown strong performance, with a Zacks Rank of 2 (Buy) and positive earnings expectations [6][14].

Here are three of the most important factors that make the stock of this operator of medical diagnostic imaging centers a great growth pick right now. Earnings Growth Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under con ...

1 IF D H HT T 100 - 100 1 i T 1 Pgiam/iStock via Getty Images Investment Summary Shares of RadNet, Inc. (NASDAQ:RDNT) continue to offer extensive appeal to unlock risk capital for quality-oriented investors. Since my last publication on the company in July last year, the equity line has curled up more than 88%, and the position has compounded by 184% cumulatively since I first bought it for our portfolios in 2022. RadNet 12-month share price evolution Seeking Alpha RNDT's management is deploying capital at ...

Core Viewpoint - RadNet (RDNT) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook for the company's earnings and potential stock price movement [1][2]. Earnings Estimates and Stock Price Impact - The upward trend in earnings estimates is a significant factor influencing stock prices, with a strong correlation between earnings estimate revisions and near-term stock movements [3][5]. - Institutional investors utilize earnings estimates to determine the fair value of a company's shares, impacting their buying and selling decisions, which in turn affects stock prices [3]. RadNet's Earnings Outlook - RadNet is projected to earn $0.59 per share for the fiscal year ending December 2024, reflecting an 18% year-over-year increase [7]. - Over the past three months, the Zacks Consensus Estimate for RadNet has risen by 34.1%, indicating a positive trend in earnings expectations [7]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [6]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, suggesting that RadNet's upgrade places it among the best candidates for market-beating returns [8][9].

Company Overview - RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States, based on the number of locations and annual imaging revenue [3] - The company operates a network of 375 owned and/or operated outpatient imaging centers across several states, including California, Maryland, Delaware, New Jersey, New York, Florida, Texas, and Arizona [3] - RadNet employs over 9,700 individuals, including full-time and per diem employees and technologists, and provides radiology information technology, artificial intelligence solutions, and teleradiology professional services [3] Upcoming Event - Dr. Howard Berger, President and CEO of RadNet, will present at the Jefferies 2024 Global Healthcare Conference on June 5, 2024, at 11:30 a.m. Eastern Time [1] - The presentation will be available via simultaneous and archived webcasts on the company's website [2]

There will be simultaneous and archived webcasts available at https://wsw.com/webcast/jeff302/rdnt/1856896 and www.radnet.com under the "About RadNet'' menu section and "News and Press Releases'' sub-menu of the website. LOS ANGELES, June 03, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers, today announced that Dr. Howard Berger, President and ...

Exhibit 99.1 FOR IMMEDIATE RELEASE RadNet Reports First Quarter Financial Results with Record First Quarter Revenue, Adjusted EBITDA and Adjusted Earnings and Revises Upwards 2024 Financial Guidance Ranges LOS ANGELES, California, May 8, 2024 – RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost- effective, fixed-site outpatient diagnostic imaging services through a network of 375 owned and operated outpatient imaging centers, today reported financial results for its first quarter ...

[PART I – FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=ITEM%201.%20Financial%20Statements) This section presents RadNet, Inc.'s unaudited condensed consolidated financial statements for Q1 2024 and 2023, including balance sheets, statements of operations, comprehensive income, stockholders' equity, and cash flows, along with explanatory notes Condensed Consolidated Financial Highlights (Q1 2024 vs Q1 2023) | Financial Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | **Total Revenue** | $431,707 | $390,564 | | **Income from Operations** | $11,339 | $6,671 | | **Net Income (Loss)** | $5,410 | $(14,283) | | **Net Loss Attributable to Common Stockholders** | $(2,779) | $(21,005) | | **Diluted EPS** | $(0.04) | $(0.36) | | **Total Assets** | $2,969,555 | $2,690,473 (as of Dec 31, 2023) | | **Total Liabilities** | $1,892,230 | $1,877,114 (as of Dec 31, 2023) | | **Total Equity** | $1,077,325 | $813,359 (as of Dec 31, 2023) | | **Net Cash from Operating Activities** | $17,085 | $32,616 | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail RadNet's business, accounting policies, segment changes, business combinations, debt structure, and subsequent events, including a March 2024 stock offering, Digital Health segment formation, California acquisitions, and April 2024 debt refinancing - The company operates **375 outpatient diagnostic imaging centers** as of March 31, 2024[27](index=27&type=chunk) - In March 2024, RadNet completed a public offering of **5,232,500 common stock shares**, raising **$230.2 million** in gross proceeds[27](index=27&type=chunk) - In Q1 2024, RadNet revised its reportable segments, combining the eRad business with the AI segment to form a new **Digital Health segment**, with prior periods retrospectively adjusted[87](index=87&type=chunk) Acquisitions in Q1 2024 (Imaging Center Segment) | Entity Acquired | Date Acquired | Total Consideration (in thousands) | Goodwill (in thousands) | | :--- | :--- | :--- | :--- | | Grossman Imaging Center of CMH, LLC | 3/31/2024 | $10,500 | $9,016 | | Providence Health System - Southern California | 3/31/2024 | $7,096 | $6,453 | | Antelope Valley Outpatient Imaging | 2/1/2024 | $3,530 | $687 | | **Total** | | **$21,126** | **$16,156** | - Subsequent to quarter-end, on April 18, 2024, RadNet refinanced its debt, securing an **$875.0 million term loan** and a **$282.0 million revolving credit facility**, extending maturities and reducing interest rates[121](index=121&type=chunk) - RadNet has agreements to acquire **Houston Medical Imaging, LLC (7 centers)** and **U.S. Imaging, Inc. (8 centers)** in Texas, with closures anticipated in Q2 2024[119](index=119&type=chunk)[120](index=120&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial results, noting a **10.5% increase in total revenue to $431.7 million** driven by same-center growth and acquisitions, with improved Imaging Center profitability and Digital Health segment revenue growth, alongside enhanced liquidity from a stock offering and debt refinancing [Results of Operations](index=36&type=section&id=Results%20of%20Operations) Q1 2024 total revenue increased **10.5% to $431.7 million**, with Imaging Center segment revenue up **9.9% to $417.0 million** driven by volume and advanced imaging, Digital Health segment revenue up **32.3% to $14.7 million**, and consolidated net income improving to **$5.4 million** with Adjusted EBITDA reaching **$58.5 million** Imaging Center Segment Revenue (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | % Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | $417,046 | $379,487 | 9.9% | | Same Center Revenue | $376,655 | $348,240 | 8.2% | - Same-center revenue growth was driven by a **1.6% increase in procedure volume**, with advanced modality imaging procedures growing by **5.1%**[152](index=152&type=chunk) Digital Health Segment Performance (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | % Change | | :--- | :--- | :--- | :--- | | **Revenue** | $14,661 | $11,078 | 32.3% | | **Loss from Operations** | $(3,015) | $(2,518) | 19.7% | Reconciliation of Net Income to Adjusted EBITDA | Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | Net income attributable to RadNet, Inc. common stockholders | $(2,779) | $(21,005) | | Adjustments (Taxes, Interest, D&A, etc.) | $61,241 | $69,170 | | **Adjusted EBITDA - Total Company** | **$58,462** | **$48,165** | [Liquidity and Capital Resources](index=41&type=section&id=Liquidity%20and%20Capital%20Resources) RadNet's liquidity significantly strengthened in Q1 2024, with cash increasing to **$527.0 million** due to **$218.3 million** net proceeds from a March stock offering and an additional **$167.9 million** from an April debt refinancing, ensuring sufficient capital for the next twelve months Cash Flow Summary (Q1 2024 vs Q1 2023) | Cash Flow Activity (in thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Cash from Operating Activities | $17,085 | $32,616 | | Cash used in Investing Activities | $(60,937) | $(65,556) | | Cash from (used in) Financing Activities | $228,298 | $(3,821) | - Cash from financing activities in Q1 2024 was primarily driven by **$218.3 million** in net proceeds from a public common stock offering[184](index=184&type=chunk) - As of March 31, 2024, RadNet had **$821.2 million** in total term loan debt and **$187.4 million** available under its Barclays revolving credit facility, plus **$50.0 million** under its Truist facility[185](index=185&type=chunk) - In April 2024, RadNet refinanced its Barclays credit facility, securing an **$875.0 million term loan** and a **$282.0 million revolver**, extending maturities, reducing interest rates, and adding approximately **$167.9 million** in cash[186](index=186&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) RadNet faces market risks primarily from foreign currency fluctuations in the UK, Netherlands, Canada, and Hungary, and interest rate changes on variable-rate debt, partially mitigated by interest rate swaps, where a **1% SOFR increase** would raise annual interest expense by **$2.6 million** - RadNet is exposed to foreign exchange risk from operations in Pound Sterling, Euro, Canadian Dollar, and Hungarian Forint, where a hypothetical **1% decline** would increase annual operating expenses by approximately **$0.3 million**[187](index=187&type=chunk) - RadNet uses interest rate swaps on a notional amount of **$400 million** to mitigate interest rate risk on its variable-rate term loans[188](index=188&type=chunk)[189](index=189&type=chunk) - A hypothetical **1% increase in SOFR rates** would increase annual interest expense by **$1.2 million** on the unhedged Barclays term loan and **$1.4 million** on the Truist term loan[189](index=189&type=chunk)[190](index=190&type=chunk) [Controls and Procedures](index=43&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that RadNet's disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting during Q1 2024 - The Principal Executive Officer and Principal Financial Officer concluded that disclosure controls and procedures were **effective as of March 31, 2024**[191](index=191&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter[192](index=192&type=chunk) [PART II – OTHER INFORMATION](index=44&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Legal Proceedings](index=44&type=section&id=ITEM%201.%20Legal%20Proceedings) RadNet is involved in various ordinary course legal proceedings, but does not anticipate their outcomes will materially adversely impact its financial condition or results of operations - RadNet does not expect current legal proceedings to have a **material adverse impact** on its business, financial condition, or operations[195](index=195&type=chunk) [Risk Factors](index=44&type=page&id=ITEM%201A.%20Risk%20Factors) This section refers to the risk factors detailed in RadNet's Annual Report on Form 10-K for December 31, 2023, noting that those and other unknown or immaterial risks could adversely affect the business - For information on business risks and uncertainties, the report directs readers to the risk factors section of the **Annual Report on Form 10-K for the year ended December 31, 2023**[196](index=196&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) On March 27, 2024, RadNet issued **95,019 common stock shares**, valued at **$4.6 million**, in a private placement to settle a contingent liability from the Heart & Lung Imaging Limited acquisition, exempt from Securities Act registration - On March 27, 2024, RadNet issued **95,019 common stock shares** valued at **$4.6 million** to settle a contingent liability from the Heart & Lung Imaging Limited acquisition[197](index=197&type=chunk) - The issuance was conducted as a **private placement**, exempt from registration under Section 4(a)(2) of the Securities Act[197](index=197&type=chunk) [Exhibits](index=44&type=section&id=ITEM%206.%20Exhibits) This section lists exhibits filed with the 10-Q report, including amendments to executive employment agreements, the Third Amended and Restated First Lien Credit and Guaranty Agreement, and CEO and CFO certifications required by the Sarbanes-Oxley Act - Key exhibits filed include the new **Third Amended and Restated First Lien Credit and Guaranty Agreement** dated April 18, 2024[201](index=201&type=chunk) - Certifications by the CEO and CFO pursuant to **Sections 302 and 906 of the Sarbanes-Oxley Act** are included as exhibits[201](index=201&type=chunk)