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RadNet(RDNT) - 2021 Q1 - Earnings Call Transcript
2021-05-10 18:03
RadNet, Inc. (NASDAQ:RDNT) Q1 2021 Earnings Conference Call May 10, 2021 10:30 AM ET Company Participants Mark Stolper - EVP & CFO Howard Berger - Chairman, President & CEO Conference Call Participants Brian Tanquilut - Jefferies John Ransom - Raymond James & Associates Operator Good day, and welcome to the RadNet, Inc. First Quarter Financial Results Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Mark Stolper, Executive Vice President and Chief Fin ...
RadNet (RDNT) Presents At Sidoti Spring Investor Conference - Slideshow
2021-03-26 23:11
Leading Radiology Forward Mark Stolper Chief Financial Officer March 2021 NASDAQ: RDNT Safe Harbor This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Specifically, statements concerning RadNet's ability to continue to grow the business by generating patient referrals and contracts with radiology practices, integrate acquired businesses, recruit and retain technologists, and receive third-party reimbursement for diagnostic im ...
RadNet(RDNT) - 2020 Q4 - Annual Report
2021-03-16 19:41
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-33307 RadNet, Inc. (Exact name of registrant as specified in its charter) Delaware 13-3326724 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identifi ...
RadNet(RDNT) - 2020 Q4 - Earnings Call Transcript
2021-03-08 21:39
Start Time: 10:30 January 1, 0000 11:40 AM ET RadNet, Inc. (NASDAQ:RDNT) Q4 2020 Earnings Conference Call March 08, 2021, 10:30 AM ET Company Participants Howard Berger - President and CEO Mark Stolper - EVP and CFO Conference Call Participants Brian Tanquilut - Jefferies Mitra Ramgopal - Sidoti & Company John Ransom - Raymond James Operator Good day, and welcome to the RadNet, Inc. Q4 and Full Year 2020 Financial Results Call. Today's conference is being recorded. At this time, I would like to turn the co ...
RadNet(RDNT) - 2020 Q3 - Earnings Call Transcript
2020-11-09 22:36
RadNet, Inc. (NASDAQ:RDNT) Q3 2020 Earnings Conference Call November 9, 2020 10:30 AM ET Company Participants Mark Stolper - EVP & CFO Howard Berger - Chairman, President, CEO & Treasurer Conference Call Participants Brian Tanquilut - Jefferies Mitra Ramgopal - Sidoti & Company John Ransom - Raymond James & Associates Operator Good day, and welcome to the Radnet, Inc. Third Quarter 2020 Financial Results Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. Ma ...
RadNet(RDNT) - 2020 Q2 - Earnings Call Transcript
2020-08-10 22:03
RadNet, Inc. (NASDAQ:RDNT) Q2 2020 Results Earnings Conference Call August 10, 2020 10:30 AM ET Company Participants Mark Stolper - Executive Vice President, Chief Financial Officer Howard Berger - President, Chief Executive Officer Conference Call Participants Brian Tanquilut - Jefferies Mitra Ramgopal - Sidoti Operator Good day and welcome to the RadNet Inc. second quarter 2020 financial results call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Mark ...
RadNet(RDNT) - 2020 Q1 - Earnings Call Transcript
2020-05-11 21:46
RadNet, Inc. (NASDAQ:RDNT) Q1 2020 Earnings Conference Call May 11, 2020 10:30 AM ET Company Participants Mark Stolper - EVP & CFO Howard Berger - Chairman, President, CEO & Treasurer Conference Call Participants Brian Tanquilut - Jefferies Mitra Ramgopal - Sidoti John Ransom - Raymond James Operator Good day everyone. Welcome to today's RadNet Incorporated First Quarter 2020 Financial Results Conference. Today's conference is being recorded. At this time, I'd like to turn things over to Mr. Mark Stolper, E ...
RadNet(RDNT) - 2019 Q4 - Earnings Call Transcript
2020-03-12 18:11
Financial Data and Key Metrics Changes - For Q4 2019, RadNet reported revenue of $300.8 million, an increase of $43.6 million or 17% year-over-year, and adjusted EBITDA of $46.9 million, up $2.4 million or 5.5% from the prior year [26][32] - For the full year 2019, total revenue was $1.154 billion, an increase of $179 million or 18.4%, and adjusted EBITDA was $164.1 million, up $22.4 million or 15.8% compared to 2018 [32][35] - Net income for Q4 2019 was $10.4 million or $0.21 per diluted share, compared to adjusted net income of $4.5 million or $0.09 per diluted share in Q4 2018 [29] - The company had $672.4 million of net debt as of December 31, 2019, down from $677 million at the end of 2018 [38] Business Line Data and Key Metrics Changes - In Q4 2019, MRI volume increased by 6.7%, CT volume by 9.3%, and PET/CT volume by 13.6% compared to the same quarter in 2018 [27] - Total procedures performed in Q4 2019 were 2,035,439, with routine imaging accounting for 74.9% of the volume [28] - For the full year 2019, MRI volume increased by 8.9%, CT volume by 12.2%, and PET/CT volume by 9.6% [33] Market Data and Key Metrics Changes - The company noted strong performance in January and February 2020, but began to see softening in volumes in early March due to the coronavirus [55] - The impact of the coronavirus varied by market, with minimal effects in Maryland and New Jersey, while New York experienced more significant impacts [55] Company Strategy and Development Direction - RadNet aims to grow its joint venture operations, targeting 50% of its centers to be in joint ventures within the next 3 to 5 years [12] - The company is focusing on technology investments, including artificial intelligence and machine learning, to enhance operational efficiency and patient care [13][17] - The strategic acquisitions in 2019, including Kern Radiology and Zilkha Radiology, are expected to strengthen market position and profitability [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment, citing positive trends in patient preferences for outpatient centers over hospital settings [20] - The company has not factored the potential impact of the coronavirus into its forecasts, indicating confidence in a short-lived effect [56] - Management believes that the shift in payer policies towards outpatient imaging will benefit RadNet [21] Other Important Information - The company has made significant investments in information technology and cybersecurity to improve operational efficiency and compliance [14] - Capital expenditures for 2019 were $71.5 million, slightly above budget due to additional investments in mammography capacity [40] Q&A Session Summary Question: Impact of COVID-19 on procedures and volume recovery - Management has implemented communication protocols and screening measures for patients, but has not yet estimated the full impact of COVID-19 on volumes [52][55] - The company believes that while some procedures may be delayed, there is potential for recovery, particularly in elective procedures like mammography [59] Question: Growth drivers and payer shifts - Management indicated that growth is expected due to an aging population and increased capacity from recent investments [61] - The transition of imaging from hospitals to outpatient centers is seen as a long-term trend that will benefit RadNet [62] Question: Capitation revenue performance - The company has successfully negotiated price increases on capitated contracts, contributing to strong growth in this area [63] Question: Margin expectations and labor costs - Management acknowledged the potential for margin expansion but noted challenges due to rising labor costs in a competitive market [65]
RadNet(RDNT) - 2019 Q3 - Earnings Call Transcript
2019-11-12 19:49
RadNet, Inc. (NASDAQ:RDNT) Q3 2019 Earnings Conference Call November 12, 2019 10:30 AM ET Company Participants Mark Stolper - Executive Vice President & Chief Financial Officer Howard Berger - President & Chief Executive Officer Conference Call Participants Brian Tanquilut - Jefferies John Ransom - Raymond James Mitra Ramgopal - Sidoti Operator Good day and welcome to the RadNet Inc. Third Quarter 2019 Financial Results Call. Today's conference is being recorded. At this time, I would like to turn the confe ...
RadNet(RDNT) - 2019 Q2 - Earnings Call Transcript
2019-08-10 00:51
RadNet, Inc. (NASDAQ:RDNT) Q2 2019 Earnings Conference Call August 8, 2019 10:30 AM ET Company Participants Mark Stolper - Executive Vice President & Chief Financial Officer Howard Berger - President & Chief Executive Officer Conference Call Participants Brian Tanquilut - Jefferies Mitra Ramgopal - Sidoti John Ransom - Raymond James Operator Good day and welcome to the RadNet, Inc. Second Quarter 2019 Financial Results Conference Call. Today's call is being recorded. At this time, I'd like to turn the call ...