NASDAQ$RDNT
Radnet Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
RadNet reported record first quarter revenue, adjusted EBITDA, and adjusted earnings, and revised upwards 2024 financial guidance ranges.
RadNet reported a strong first quarter with record revenue of $431.7 million, a 10.5% increase compared to the previous year. The company experienced growth in both its Imaging Center and Digital Health segments, with Digital Health revenue increasing by 32.3%. RadNet also revised upwards its 2024 guidance for revenue, Adjusted EBITDA, and Free Cash Flow.
- Total Company Revenue grew 10.5% year-over-year to a record $431.7 million.
- Digital Health segment Revenue increased 32.3% year-over-year to $14.7 million, driven by a 118% increase in AI Revenue.
- Adjusted EBITDA margins increased by 120 basis points over the prior year's first quarter.
- The company revised upwards its 2024 guidance ranges for Revenue, Adjusted EBITDA and Free Cash Flow.
Headline financials
Revenue & EPS history
Radnet · Revenue · Quarterly
$432M
Forward guidance
RadNet has revised upwards certain guidance levels in anticipation of financial results that are expected to exceed original expectations. Most significantly, the company has increased 2024 guidance ranges for Revenue, Adjusted EBITDA, and Free Cash Flow.
Tailwinds
- Strong growth is sustainable as the company continues to execute on various initiatives.
- Expansion of capacity through the development and construction of new imaging centers is underway, with approximately a dozen new centers expected to open by year end 2024.
- Working with prospective and existing health system partners to expand joint venture offerings.
- Digital Health initiatives continue to expand, including the further rollout of the EBCD program along with other clinical AI for lung and prostate cancers.
- Development of DeepHealth OS technology platform is driving toward implementation within RadNet beginning in the third quarter of this year and within external customers as early as the first quarter of 2025.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+0.8%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+4.8%
Avg return
30 days after
51%
33 / 65 earnings
Positive
+22.5%
Q4 2020
Best reaction
-17.3%
Q1 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.1% | -10.1% | -0.1% | |
| Q4 2025 | +7.7% | -13.1% | -20.8% | |
| Q3 2025 | +3.4% | -4.0% | -1.5% | |
| Q1 2025 | +2.5% | +9.7% | +6.4% | |
| Q4 2024 | -3.7% | -7.8% | -14.2% | |
| Q3 2024 | +19.1% | +9.7% | +8.8% | |
| Q2 2024 | +3.7% | +3.6% | +5.0% | |
| Q1 2024 | +2.1% | +6.2% | +16.7% | |
| Q4 2023 | +18.2% | +26.4% | +29.7% | |
| Q3 2023 | +0.1% | -2.1% | +23.0% | |
| Q2 2023 | +0.6% | -0.3% | -5.0% | |
| Q1 2023 | -1.7% | -6.2% | +10.1% | |
| Q4 2022 | +10.8% | +19.1% | +16.3% | |
| Q3 2022 | -5.3% | -4.6% | +16.7% | |
| Q2 2022 | +3.5% | +5.4% | -2.0% | |
| Q1 2022 | -5.9% | -5.9% | +4.9% | |
| Q4 2021 | -7.1% | -7.6% | -9.3% | |
| Q3 2021 | -8.2% | -9.0% | -17.5% | |
| Q2 2021 | -11.7% | -19.9% | -21.0% | |
| Q1 2021 | +3.0% | +1.1% | +42.5% | |
| Q4 2020 | +22.5% | +26.2% | +15.0% | |
| Q3 2020 | +13.9% | +11.0% | +17.6% | |
| Q2 2020 | -1.1% | -2.8% | -12.6% | |
| Q1 2020 | +4.6% | +3.7% | +18.8% | |
| Q4 2019 | -14.2% | -46.9% | -32.9% | |
| Q3 2019 | -2.0% | +11.5% | +22.4% | |
| Q2 2019 | +3.1% | +3.6% | -4.8% | |
| Q1 2019 | +4.1% | +4.3% | -1.2% | |
| Q4 2018 | +9.8% | +2.4% | -5.7% | |
| Q3 2018 | -7.1% | -14.2% | -16.9% | |
| Q2 2018 | +1.1% | +1.1% | -1.8% | |
| Q1 2018 | -2.6% | -2.6% | -3.0% | |
| Q4 2017 | +14.0% | +22.2% | +39.1% | |
| Q3 2017 | -3.4% | -5.3% | -6.8% | |
| Q2 2017 | -1.2% | -1.2% | +37.9% | |
| Q1 2017 | +1.6% | +8.7% | +22.2% | |
| Q4 2016 | -6.1% | -1.7% | +2.6% | |
| Q3 2016 | -2.2% | -2.9% | -8.1% | |
| Q2 2016 | +4.4% | +5.2% | +17.1% | |
| Q1 2016 | -6.7% | — | — | |
| Q4 2015 | -15.0% | — | — | |
| Q3 2015 | -0.8% | — | — | |
| Q2 2015 | +12.3% | — | — | |
| Q1 2015 | -17.3% | — | — | |
| Q4 2014 | -12.1% | — | — | |
| Q3 2014 | -12.4% | — | — | |
| Q2 2014 | +21.3% | — | — | |
| Q1 2014 | +22.2% | — | — | |
| Q4 2013 | +20.1% | — | — | |
| Q3 2013 | -10.2% | — | — | |
| Q2 2013 | -5.1% | — | — | |
| Q1 2013 | -8.4% | — | — | |
| Q4 2012 | +3.6% | — | — | |
| Q3 2012 | -10.3% | — | — | |
| Q2 2012 | +4.1% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q1 2012 | +1.0% | — | — | |
| Q4 2011 | -2.7% | — | — | |
| Q4 2009 | -2.7% | — | — | |
| Q3 2010 | -11.6% | — | — | |
| Q3 2011 | -11.6% | — | — | |
| Q4 2010 | +10.5% | — | — | |
| Q2 2010 | +10.5% | — | — | |
| Q2 2011 | +10.5% | — | — | |
| Q1 2010 | -2.7% | — | — |
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