RadNet reports 'record' quarterly revenue alongside rising procedural volumes
RadNet Inc shared in an earnings report that it has raked in “record” quarterly revenue thanks, in part, to an increase in its advanced imaging procedural volumes.
The outpatient imaging center operator released its third quarter financial results on Sunday, highlighting a 13.4% spike in revenue compared to the same time last year. The increase is partially attributed to an uptick in both aggregate and same-center procedural volumes.
“The business continues to demonstrate strong growth and record results in each of the Imaging Center and Digital Health reportable operating segments,” RadNet President and CEO Howard Berger, MD, said in a statement on the results. “During the quarter, we experienced strong aggregate and same-center advanced imaging procedural volume growth. Aggregate advanced imaging procedural volumes increased 13.0% and same-center advanced imaging grew 9.9% relative to last year’s third quarter. As a result, RadNet’s advanced imaging business mix increased 153 basis points from last year’s third quarter, from 26.7% of all procedures in the third quarter of 2024 to 28.2% in the third quarter of 2025.”
The third quarter report details an increase in MRI volume of 14.8%, while CT volume climbed by 9.4% and PET/CT volume swelled by 21.1% compared to the same time last year. Routine imaging—X-ray, mammography, ultrasound and other exams—rose by around 7%.
Berger added that the company is seeing positive trends “in virtually all aspects of the business.” This has led RadNet to revise its 2025 Imaging Center guidance ranges for Revenue and Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and its Revenue Guidance for the Digital Health operating segment, as these figures are now anticipated to be higher than previously estimated.
The company’s reported total revenue for the third quarter is $522.9 million, with an Adjusted EBITDA of $84.9 million. This represents an increase of $61.7 million (or 13.4%) and $11.2 million (or 15.2%) compared to the third quarter of 2024.
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In addition to her background in journalism, Hannah also has patient-facing experience in clinical settings, having spent more than 12 years working as a registered rad tech. She began covering the medical imaging industry for Innovate Healthcare in 2021.