What changed in this filing

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Item 1. Financial Statements

2026-08-10 compared with 2026-05-11 · 288 added, 141 removed, 629 unchanged (41% of the section changed)

36 unchanged sentences

Common stock - $ 0.0001 par value, 200,000,000 shares authorized;

78,545,837 and 77,399,615 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively

78,646,805 and 77,399,615 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively

Additional paid-in-capital 1,222,961 1,180,434

Accumulated other comprehensive income (loss) ( 2,466 ) 4,885

Accumulated other comprehensive (loss) income ( 5,504 ) 4,885

Accumulated deficit ( 121,373 ) ( 95,437 )

9 unchanged sentences

Three Months Ended

June 30, Six Months Ended

2026 2025 2026 2025

Service fee revenue $ 592,589 $ 468,063 $ 1,137,807 $ 907,412

8 unchanged sentences

Total operating expenses 583,252 467,351 1,182,786 962,851

LOSS FROM OPERATIONS ( 23,903 ) ( 24,101 )

INCOME FROM OPERATIONS 39,468 30,879 15,565 6,778

OTHER INCOME AND EXPENSES

2 unchanged sentences

Non-cash change in fair value of interest rate swap — 1,956 — 4,062

Other income ( 4,907 ) ( 7,712 )

Debt restructuring and extinguishment expenses 3,368 — 3,368 —

Other income, net ( 3,960 ) ( 7,764 ) ( 8,867 ) ( 15,476 )

Total other expenses 12,851 7,025 21,776 16,059

LOSS BEFORE INCOME TAXES ( 32,828 ) ( 33,135 )

Benefit from income taxes 8,096 3,398

NET LOSS ( 24,732 ) ( 29,737 )

INCOME (LOSS) BEFORE INCOME TAXES 26,617 23,854 ( 6,211 ) ( 9,281 )

(Provision for) benefit from income taxes ( 6,363 ) ( 820 ) 1,733 2,578

NET INCOME (LOSS) 20,254 23,034 ( 4,478 ) ( 6,703 )

Net income attributable to noncontrolling interest 12,724 8,580 21,458 16,769

NET LOSS ATTRIBUTABLE TO RADNET, INC.

NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC.

COMMON STOCKHOLDERS $ 7,530 $ 14,454 $ ( 25,936 ) $ ( 23,472 )

BASIC AND DILUTED NET LOSS PER SHARE ATTRIBUTABLE TO RADNET, INC.

BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC.

COMMON STOCKHOLDERS $ 0.10 $ 0.19 $ ( 0.33 ) $ ( 0.32 )

DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC.

COMMON STOCKHOLDERS $ 0.10 $ 0.19 $ ( 0.33 ) $ ( 0.32 )

WEIGHTED AVERAGE SHARES OUTSTANDING

Basic and Diluted 77,057,835 74,382,356

Basic 77,788,452 74,352,498 77,425,061 74,070,438

Diluted 78,731,021 75,531,743 77,425,061 74,070,438

The accompanying notes are an integral part of these financial statements.

AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(IN THOUSANDS)

Three Months Ended March 31,

NET LOSS $ ( 24,732 ) $ ( 29,737 )

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

NET INCOME (LOSS) $ 20,254 $ 23,034 $ ( 4,478 ) $ ( 6,703 )

Foreign currency translation adjustments ( 3,032 ) 9,523 ( 10,550 ) 13,632

Change in fair value of cash flow hedge from prior periods reclassified to earnings, net of taxes — 1,023 — 2,056

COMPREHENSIVE LOSS ( 32,250 ) ( 24,595 )

COMPREHENSIVE INCOME (LOSS) 17,222 33,580 ( 15,028 ) 8,985

Less net income attributable to noncontrolling interests 12,724 8,580 21,458 16,769

Less foreign currency translation adjustments attributable to noncontrolling interests 6 — ( 161 ) —

COMPREHENSIVE LOSS ATTRIBUTABLE TO RADNET, INC.

COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC.

COMMON STOCKHOLDERS $ 4,492 $ 25,000 $ ( 36,325 ) $ ( 7,784 )

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(IN THOUSANDS EXCEPT SHARE DATA)

The following table summarizes changes in the Company’s consolidated stockholders' equity, including noncontrolling interest, during the three months ended March 31, 2026 and March 31, 2025.

The following table summarizes changes in the Company’s consolidated stockholders' equity, including noncontrolling interest, during the three months ended June 30, 2026 and June 30, 2025.

Shares Amount Additional Paid-In Capital Accumulated Other Comprehensive Income (Loss) Accumulated Deficit Total RadNet, Inc.'s Equity Noncontrolling Interests Total Equity

BALANCE - DECEMBER 31, 2025 77,399,615 $ 8 $ 1,180,434 $ 4,885 $ ( 95,437 ) $ 1,089,890 $ 265,996 $ 1,355,886

BALANCE - MARCH 31, 2026 78,545,837 $ 8 $ 1,211,912 $ ( 2,466 ) $ ( 128,903 ) $ 1,080,551 $ 272,161 $ 1,352,712

Issuance of common stock upon exercise of options 28,560 — 509 — — 509 — 509

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Distributions paid to noncontrolling interests — — — — — — ( 1,525 ) ( 1,525 )

Change in cumulative foreign currency translation adjustment — — — ( 3,038 ) — ( 3,038 ) 6 ( 3,032 )

Noncontrolling interest recognized in business combination — — — — — — 14,593 14,593

Net income — — — — 7,530 7,530 12,724 20,254

BALANCE - JUNE 30, 2026 78,646,805 $ 8 $ 1,222,961 $ ( 5,504 ) $ ( 121,373 ) $ 1,096,092 $ 297,959 $ 1,394,051

BALANCE - MARCH 31, 2025 74,956,566 $ 7 $ 1,016,762 $ ( 3,919 ) $ ( 114,711 ) $ 898,139 $ 238,378 $ 1,136,517

Issuance of common stock upon exercise of options 50,340 1 433 — — 434 — 434

Issuance of common stock under the equity compensation plan 63,877 — — — — — — —

Stock-based compensation expense — — 8,761 — — 8,761 — 8,761

Forfeiture of restricted stock and share cancellation ( 3,681 ) — ( 20 ) — — ( 20 ) — ( 20 )

Distributions paid to noncontrolling interests — — — — — — ( 2,400 ) ( 2,400 )

Contribution from noncontrolling partner — — — — — — 2,389 2,389

Change in cumulative foreign currency translation adjustment — — — 9,523 — 9,523 — 9,523

Change in fair value of cash flow hedge from prior periods reclassified to earnings — — — 1,023 — 1,023 — 1,023

Net income — — — — 14,454 14,454 8,580 23,034

BALANCE - JUNE 30, 2025 75,067,102 $ 8 $ 1,025,936 $ 6,627 $ ( 100,257 ) $ 932,314 $ 246,947 $ 1,179,261

The accompanying notes are an integral part of these financial statements.

AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(IN THOUSANDS EXCEPT SHARE DATA)

The following table summarizes changes in the Company’s consolidated stockholders' equity, including noncontrolling interest, during the six months ended June 30, 2026 and June 30, 2025.

Shares Amount Additional Paid-In Capital Accumulated Other Comprehensive Loss Accumulated Deficit Total RadNet, Inc.'s Equity Noncontrolling Interests Total Equity

BALANCE - DECEMBER 31, 2025 77,399,615 $ 8 $ 1,180,434 $ 4,885 $ ( 95,437 ) $ 1,089,890 $ 265,996 $ 1,355,886

Issuance of common stock upon exercise of options 95,672 — 612 — — 612 — 612

Issuance of common stock under the equity compensation plan 979,451 — — — — — — —

Stock-based compensation expense — — 41,998 — — 41,998 — 41,998

Issuance of common stock in connection with acquisitions 190,924 — — — — — — —

Forfeiture of restricted stock and share cancellation ( 18,857 ) — ( 83 ) — — ( 83 ) — ( 83 )

Purchase of noncontrolling interests — — — — — — ( 3,927 ) ( 3,927 )

Change in cumulative foreign currency translation adjustment — — — ( 10,389 ) — ( 10,389 ) ( 161 ) ( 10,550 )

Noncontrolling interest recognized in business combination — — — — — — 14,593 14,593

Net (loss) income — — — — ( 25,936 ) ( 25,936 ) 21,458 ( 4,478 )

BALANCE - MARCH 31, 2026 78,545,837 $ 8 $ 1,211,912 $ ( 2,466 ) $ ( 128,903 ) $ 1,080,551 $ 272,161 $ 1,352,712

BALANCE - JUNE 30, 2026 78,646,805 $ 8 $ 1,222,961 $ ( 5,504 ) $ ( 121,373 ) $ 1,096,092 $ 297,959 $ 1,394,051

BALANCE - DECEMBER 31, 2024 74,036,993 $ 7 $ 988,147 $ ( 9,061 ) $ ( 76,785 ) $ 902,308 $ 231,102 $ 1,133,410

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Distributions paid to noncontrolling interests — — — — — — ( 3,313 ) ( 3,313 )

Contributions from noncontrolling interests — — — — — — 2,389 2,389

Change in cumulative foreign currency translation adjustment — — — 13,632 — 13,632 — 13,632

Change in fair value of cash flow hedge from prior periods reclassified to earnings — — — 1,033 — 1,033 — 1,033

Change in fair value of cash flow hedge from prior periods reclassified to earnings, net of taxes — — — 2,056 — 2,056 — 2,056

Net (loss) income — — — — ( 23,472 ) ( 23,472 ) 16,769 ( 6,703 )

BALANCE - MARCH 31, 2025 74,956,566 $ 7 $ 1,016,762 $ ( 3,919 ) $ ( 114,711 ) $ 898,139 $ 238,378 $ 1,136,517

BALANCE - JUNE 30, 2025 75,067,102 $ 8 $ 1,025,936 $ 6,627 $ ( 100,257 ) $ 932,314 $ 246,947 $ 1,179,261

The accompanying notes are an integral part of these financial statements.

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(IN THOUSANDS)

Three Months Ended March 31,

Six Months Ended June 30,

CASH FLOWS FROM OPERATING ACTIVITIES

6 unchanged sentences

Loss on sale and disposal of equipment 3,708 2,126

Loss on extinguishment of debt 407 —

Lease abandonment charges 1,306 5,511

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Payments on term loan debt ( 11,140 ) ( 10,252 )

Proceeds from issuance of new debt, net of issuance costs 248,937 99,001

Purchase of noncontrolling interests by third party — 2,389

Distributions paid to noncontrolling interests ( 3,927 ) ( 3,313 )

Proceeds from issuance of common stock upon exercise of options 612 554

Net cash used in financing activities ( 17,504 ) ( 7,510 )

Net cash provided by financing activities 222,715 84,918

EFFECT OF EXCHANGE RATE CHANGES ON CASH ( 2,202 ) 586

NET DECREASE IN CASH AND CASH EQUIVALENTS ( 311,876 ) ( 22,697 )

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS ( 40,943 ) 93,132

CASH AND CASH EQUIVALENTS, beginning of period 767,215 740,020

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Supplemental Schedule of Non-Cash Investing and Financing Activities

We acquired equipment and certain leasehold improvements for approximately $ 68.9 million and $ 62.5 million during the three months ended March 31, 2026 and 2025, respectively, which were not paid for as of March 31, 2026 and 2025 , respectively.

We acquired equipment and certain leasehold improvements for approximately $ 59.6 million and $ 74.5 million during the six months ended June 30, 2026 and 2025, respectively, which were not paid for as of June 30, 2026 and 2025 , respectively.

The amounts due were recorded in our condensed consolidated balance sheet under accounts payable, accrued expenses and other.

During the three months ended March 31, 2026, we acquired certain assets from entities engaged in the practice of radiology or related businesses.

These acquisitions included contingent consideration and holdbacks totaling $ 9.0 million that we had not paid for as of March 31, 2026.

During the six months ended June 30, 2026, we acquired certain assets from entities engaged in the practice of radiology or related businesses.

These acquisitions included contingent consideration and holdbacks with an aggregate acquisition-date fair value of $ 11.6 million that we had not paid for as of June 30, 2026.

The accrued amounts are reflected in our condensed consolidated balance sheets under accrued expenses and other non-current liabilities.

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We are a national provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States.

At March 31, 2026, we operated directly or indirectly through joint ventures with hospitals, 435 centers located in Arizona, California, Delaware, Florida, Indiana, Maryland, New Jersey, New York and Texas.

At June 30, 2026, we operated directly, or indirectly through joint ventures with hospitals and health system partners, 442 centers located in Arizona, California, Delaware, Florida, Idaho, Indiana, Maryland, New Jersey, New York, Texas, and Virginia.

Our centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders.

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However, RadNet may be required to provide financial support to cover any operating expenses in excess of operating revenues.

The Consolidated Medical Group on a combined basis recognized $ 77.4 million and $ 58.2 million of revenue, net of management services fees to RadNet, for the three months ended March 31, 2026 and 2025, respectively.

RadNet recognized $ 235.0 million and $ 238.6 million of total billed net service fee revenue for the three months ended March 31, 2026, and 2025, respectively, for management services provided to the Consolidated Medical Group relating primarily to the technical portion of billed revenue.

In our condensed consolidated balance sheets at March 31, 2026 and December 31, 2025, we have included approximately $ 161.0 million and $ 137.5 million, respectively, of accounts receivable and approximately $ 41.4 million and $ 34.9 million of accounts payable and accrued liabilities related to the Consolidated Medical Group, respectively.

The Consolidated Medical Group on a combined basis recognized $ 80.2 million and $ 48.3 million of revenue, net of management services fees to RadNet, for the three months ended June 30, 2026 and 2025, respectively.

RadNet recognized $ 294.9 million and $ 265.6 million of total billed net service fee revenue for the three months ended June 30, 2026, and 2025, respectively, for management services provided to the Consolidated Medical Group relating primarily to the technical portion of billed revenue.

The Consolidated Medical Group on a combined basis recognized $ 168.1 million and $ 106.5 million of revenue, net of management services fees to RadNet, for the six months ended June 30, 2026 and 2025, respectively and $ 168.1 million and $ 106.5 million of operating expenses for the six months ended June 30, 2026 and 2025, respectively.

RadNet recognized $ 574.4 million and $ 504.1 million of total billed net service fee revenue for the six months ended June 30, 2026, and 2025, respectively, for management services provided to the Consolidated Medical Group relating primarily to the technical portion of billed revenue.

In our condensed consolidated balance sheets at June 30, 2026 and December 31, 2025, we have included approximately $ 204.9 million and $ 137.5 million, respectively, of accounts receivable and approximately $ 47.6 million and $ 34.9 million of accounts payable and accrued liabilities related to the Consolidated Medical Group, respectively.

The cash flows of the Consolidated Medical Group are included in the accompanying condensed consolidated statements of cash flows.

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generally accepted accounting principles for complete financial statements;

however, in the opinion of management, all adjustments consisting of normal recurring adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods ended March 31, 2026 and 2025 have been made.

The results of operations for any interim period are not necessarily indicative of the results for a full year.

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Under capitation arrangements with various health plans, we earn a per-enrollee amount each month for making available diagnostic imaging services to all plan enrollees under the capitation arrangement.

Revenue under capitation arrangements is recognized in the period in which we are obligated to provide services to plan enrollees under contracts with various health plans.

Our total revenues for the three months ended March 31, 2026 and 2025 are presented in the table below.

Revenue under capitation

arrangements is recognized in the period in which we are obligated to provide services to plan enrollees under contracts with various health plans.

Our total revenues for the three and six months ended June 30, 2026 and 2025 are presented in the table below.

Our patient service revenue is displayed as the estimated service fee, broken down by classification of insurance coverage type, along with revenue generated from our management services and other sources such as software and AI.

In Thousands Three Months Ended

June 30, Six Months Ended

2026 2025 2026 2025

Commercial insurance $ 339,401 $ 278,902 $ 655,367 $ 541,410

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Total service revenue $ 622,720 $ 498,230 $ 1,198,351 $ 969,629

EQUITY BASED COMPENSATION – We have one long-term incentive plan, which has been amended and restated on April 20, 2015, March 9, 2017, April 15, 2021, April 27, 2023, and most recently following approval by our stockholders at our annual stockholders meeting on June 7, 2023 (the “Restated Plan”).

EQUITY BASED COMPENSATION – We have one long-term incentive plan, which has been amended and restated on April 20, 2015, March 9, 2017, April 15, 2021, April 27, 2023, April 16, 2026 and most recently following approval by our stockholders at our annual stockholders meeting on June 2, 2026 (the “Restated Plan”).

We have reserved 23,100,000 shares of common stock for issuance under the Restated Plan which can be issued in the form of incentive and/or nonstatutory stock options, restricted and/or unrestricted stock, stock units, and stock appreciation rights.

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Proceeds on factoring agreements are reflected as operating activities on our statement of cash flows and on our balance sheet as prepaid expenses and other current assets for the current portion and deposits and other for the long-term portion.

Amounts remaining to be collected on these agreements were $ 2.6 million and $ 3.5 million at March 31, 2026 and December 31, 2025, respectively.

Amounts remaining to be collected on these agreements were $ 2.3 million and $ 3.5 million at June 30, 2026 and December 31, 2025, respectively.

We do not utilize factoring arrangements as an integral part of our financing for working capital and assess the party's ability to pay upfront at the inception of the notes receivable and subsequently by reviewing their financial statements annually and reassessing any insolvency risk on a periodic basis.

DEFERRED FINANCING COSTS - Costs of financing are deferred and amortized using the effective interest rate method and are related to our revolving credit facilities.

Deferred financing costs, net of accumulated amortization, were $ 1.5

million and $ 1.7 million as of March 31, 2026 and December 31, 2025, respectively.

See Note 6, Credit Facilities and Notes Payable for more information.

Deferred financing costs, net of accumulated amortization, were $ 1.4 million and $ 1.7 million as of June 30, 2026 and December 31, 2025, respectively.

See Note 6, Credit Facilities, Notes Payable, and Finance Lease for more information.

PROPERTY AND EQUIPMENT - Property and equipment are stated at cost, less accumulated depreciation and amortization.

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Acquisition-related costs are expensed as incurred and are included in Cost of operations, excluding depreciation and amortization, in the condensed consolidated statements of operations.

For the three months ended March 31, 2026 and March 31, 2025, such costs totaled approximately $ 3.5 million and $ 0.7 million, respectively.

GOODWILL - Goodwill at March 31, 2026 totaled $ 1,094.7 million.

For the three and six months ended June 30, 2026 , such costs totaled approximately $ 6.6 million and $ 10.1 million, respectively.

For the three and six months ended June 30, 2025, such costs totaled approximately $ 2.3 million and $ 3.0 million, respectively.

GOODWILL - Goodwill at June 30, 2026 totaled $ 1,122.5 million.

Goodwill is recorded as a result of business combinations.

If we determine the carrying value of a reporting unit exceeds its fair value an impairment charge would be recognized and should not exceed the total amount of goodwill allocated to that reporting unit.

We tested goodwill and indefinite lived intangibles for impairment on October 1, 2025 noting no impairment, and we have not identified any indicators of impairment through March 31, 2026.

Activity in goodwill for the three months ended March 31, 2026 is provided below (in thousands):

We tested goodwill and indefinite lived intangibles for impairment on October 1, 2025 noting no impairment, and we have not identified any indicators of impairment through June 30, 2026.

Activity in goodwill for the six months ended June 30, 2026 is provided below (in thousands):

Imaging Center segment Digital Health segment Total

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Currency translation ( 357 ) ( 5,134 ) ( 5,491 )

Balance as of March 31, 2026 $ 758,648 $ 336,051 $ 1,094,699

The amount of goodwill that is expected to be deductible for tax purposes as of March 31, 2026 is $ 224.8 million.

Balance as of June 30, 2026 $ 789,027 $ 333,441 $ 1,122,468

The amount of goodwill that is expected to be deductible for tax purposes as of June 30, 2026 is $ 232.3 million.

INTANGIBLE ASSETS - Intangible assets are primarily related to our business combinations and software development.

They include the estimated fair value of such items as service agreements, customer lists, covenants not to compete, acquired technologies, and trade names.

The components of intangible assets, both finite and indefinite lived, along with annual amortization expense that will be recorded over the next five years at March 31, 2026 and December 31, 2025 are as follows (in thousands):

As of March 31, 2026:

The components of intangible assets, both finite and indefinite lived, along with annual amortization expense that will be recorded over the next five years at June 30, 2026 and December 31, 2025 are as follows (in thousands):

As of June 30, 2026:

2026* 2027 2028 2029 2030 Thereafter Total Weighted average amortization period remaining in years

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Total annual amortization $ 15,145 $ 28,042 $ 27,564 $ 20,723 $ 18,471 $ 135,403 $ 245,348

*Excluding the three months ended March 31, 2026

*Excluding the six months ended June 30, 2026

As of December 31, 2025:

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Covenant not to compete and other contracts 2,039 1,745 1,655 1,195 119 — 6,753 3.6

Customer Relationships 3,914 3,736 3,694 3,694 3,694 43,016 61,748 16.9

Customer lists 3,914 3,736 3,694 3,694 3,694 43,016 61,748 16.9

Patent and Trademarks 763 391 326 67 43 83 1,673 3.1

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Total Annual Amortization $ 21,414 $ 18,168 $ 17,936 $ 11,672 $ 9,497 $ 69,821 $ 148,508

Total intangible asset amortization expense was $ 6.8 million and $ 3.1 million for the three months ended March 31, 2026 and March 31, 2025, respectively.

Total intangible asset amortization expense was $ 8.5 million and $ 15.2 million for the three and six months ended June 30, 2026, respectively.

Total amortization expense was $ 3.2 million and $ 6.3 million for the three and six months ended June 30, 2025, respectively.

Intangible assets are amortized using the straight-line method over their useful life determined at acquisition.

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Tax and related laws.

Some of the provisions of the new tax law that affect corporations include, but are not limited to, reinstatement of immediate expensing of domestic specified research or experimental expenditures, restoration of EBITDA as the base for calculating deductible business interest expense, modifications to international tax regimes, and reenactment of one hundred percent bonus depreciation on eligible property acquired after January 19, 2025.

The impact of the tax law changes from OBBBA with respect to periods prior to enactment were recognized by the Company in the third quarter of 2025, and has

been applied prospectively based on the effective dates of the tax law.

hundred percent bonus depreciation on eligible property acquired after January 19, 2025.

The impact of the tax law changes from OBBBA with respect to periods prior to enactment were recognized by the Company in the third quarter of 2025, and has been applied prospectively based on the effective dates of the tax law.

The enactment of the OBBBA did not have a material impact on the Company’s financial statements.

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For 2026, we expect that we will meet one or more transactional safe harbor rules, and as such, we do not believe Pillar Two model will have an impact on our annual effective tax rate for the year ending December 31, 2026.

We recorded an income tax provision of $ 8.1 million, or an effective tax rate of 24.7 %, for the three months ended March 31, 2026, compared to $ 3.4 million, or an effective tax rate of 10.3 % for the three months ended March 31, 2025.

The income tax rates for the three months ended March 31, 2026 diverge from the federal statutory rate due to (i) state taxes;

We recorded an income tax provision of $ 6.4 million, or an effective tax rate of 23.9 %, for the three months ended June 30, 2026, compared to $ 0.8 million, or an effective tax rate of 3.4 % for the three months ended June 30, 2025.

We recorded an income tax benefit of $ 1.7 million, or an effective tax rate of 27.9 %, for the six months ended June 30, 2026, compared to income tax benefit of $ 2.6 million, or an effective tax rate of 27.8 % for the six months ended June 30, 2025.

The income tax rates for the three and six months ended June 30, 2026 diverge from the federal statutory rate due to (i) state taxes;

(ii) foreign rate differentials;

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Our ROU assets consist of facility and equipment assets on operating leases.

No events have occurred such as fire, flood, or other acts which have impaired the integrity of our ROU assets as of March 31, 2026.

No events have occurred such as fire, flood, or other acts which have impaired the integrity of our ROU assets as of June 30, 2026.

Our facility leases require us to maintain insurance policies which would cover major damage to our facilities.

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We may abandon low utilization leases and divert the patients to nearby centers.

During the three months ended March 31, 2025, we closed several imaging centers with lower utilization and recognized lease abandonment charges of approximately $ 5.4 million in our Imaging Center segment.

Of these amounts, $ 4.8 million were related to right-of-use assets impairment and $ 0.6 million were related to the write-off of leasehold improvements for the three months ended March 31, 2025.

COMPREHENSIVE LOSS - Accounting guidance establishes rules for reporting and displaying other comprehensive income (loss) ("OCI") and its components.

During the three months ended June 30, 2026, we closed several imaging centers with lower utilization and recognized lease abandonment charges of approximately $ 1.3 million in our Imaging Center segment, which is related to right-of-use asset impairment.

During the six months ended June 30, 2025, we closed several imaging centers with lower utilization and recognized lease abandonment charges of approximately $ 5.5 million in our Imaging Center segment.

Of these amounts, $ 4.8 million were related to right-of-use assets impairment and $ 0.7 million were related to the write-off of leasehold improvements for the six months ended June 30, 2025.

COMPREHENSIVE INCOME (LOSS) - Accounting guidance establishes rules for reporting and displaying other comprehensive income (loss) (“OCI”) and its components.

Our foreign currency translation adjustments and the amortization of balances associated with derivatives previously classified as cash flow hedges are included in OCI.

The components of OCI for the three months ended March 31, 2026 and 2025 are included in the Condensed Consolidated Statements of Comprehensive Loss.

The following is a reconciliation of Foreign Currency Translation amounts for the three months ended March 31, 2026 and 2025 is provided below (in thousands):

For the three months ended March 31, 2026

December 31, 2025 Balance Currency Translation Adjustments Balance March 31, 2026 Balance

The components of OCI for the three and six months ended June 30, 2026 and 2025 are included in the Condensed Consolidated Statements of

Comprehensive Loss.

The following is a reconciliation of Foreign Currency Translation amounts for the three and six months ended June 30, 2026 and 2025 is provided below (in thousands):

For the three months ended June 30, 2026

March 31, 2026 Balance Currency Translation Adjustments June 30, 2026 Balance

Currency Translation Adjustments $ 33 $( 3,038 ) $( 3,005 )

INTEREST ON SECURITIES - We recognized income from interest on securities of approximately $ 5.0 million and $ 7.7 million for the three months ended March 31, 2026 and 2025, respectively.

This income is recorded within Other non-operating income in our Condensed Consolidated Statements of Operations .

For the six months ended June 30, 2026

December 31, 2025 Balance Currency Translation Adjustments June 30, 2026 Balance

Currency Translation Adjustments $ 7,384 $( 10,389 ) $( 3,005 )

For the three months ended June 30, 2025

March 31, 2025 Balance Currency Translation Adjustments June 30, 2025 Balance

Currency Translation Adjustments $( 1,588 ) $ 9,523 $ 7,935

For the six months ended June 30, 2025

December 31, 2024 Balance Currency Translation Adjustments June 30, 2025 Balance

Currency Translation Adjustments $( 5,697 ) $ 13,632 $ 7,935

INTEREST ON SECURITIES - We recognized income from interest on securities of approximately $ 4.2 million and $ 7.8 million for the three months ended June 30, 2026 and 2025, respectively, and $ 9.2 million and $ 15.5 million for the six months ended June 30, 2026 and 2025.

This income is recorded within Other Income, net in our Consolidated Statements of Operations .

COMMITMENTS AND CONTINGENCIES - We are party to various legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business.

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Second Milestone ($ 4.2 million):

Payable upon FDA 510(k) clearance of the company’s breast ultrasound detection product, with submission required by March 31, 2026 and approval by December 31, 2026.

Payable upon FDA 510(k) clearance of the company’s breast ultrasound detection product.

The submission was completed by March 31, 2026, with FDA clearance required by December 31, 2026.

Third Milestone ($ 4.2 million):

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Each contingent amount is payable 50 % in cash and 50 % in RadNet common shares.

As of March 31, 2026, the fair value of the contingent consideration was assessed based on the probability of milestone achievement and was determined by management to be 90 % and 80 % for the Second and Third Milestone, respectively.

As of June 30, 2026, the fair value of the contingent consideration was assessed based on the probability of milestone achievement and was determined by management to be 90 % and 80 % for the Second and Third Milestone, respectively.

Kolb Radiology P.C

On July 1, 2025, the Company completed the acquisition of substantially all the assets of Kolb Radiology P.C., a New York-based diagnostic imaging practice.

As part of the purchase agreement, we agreed to pay up to $ 8.0 million in contingent consideration (“Earnout Consideration”) payable based on the financial performance of the acquired business over three consecutive twelve-month periods following the closing date.

As of March 31, 2026, the fair value of the contingent consideration was estimated to be $ 4.1 million using a Monte Carlo simulation under a risk-neutral framework that modeled projected MRI revenues and discounted expected payments at term-matched U.S.

As part of the purchase agreement, we agreed to pay up to $ 8.0 million in contingent consideration (“Earnout Consideration”) payable in cash based on the financial performance of the acquired business over three consecutive twelve-month periods following the closing date.

As of June 30, 2026, the fair value of the contingent consideration was estimated using a Monte Carlo simulation under a risk-neutral framework that modeled projected MRI revenues and discounted expected payments at term-matched U.S.

Treasury rates plus RadNet’s credit spread.

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The contingent consideration provides for aggregate payments of up to approximately $ 15.1 million and includes two performance-based milestones tied to recurring revenue generated during measurement periods between 2026 and 2028.

Each milestone becomes payable only if at least 90 % of the applicable revenue target is achieved, with payments proportionately

reduced for achievement between 90 % and 100 % of the target.

Each milestone becomes payable only if at least 90 % of the applicable revenue target is achieved, with payments proportionately reduced for achievement between 90 % and 100 % of the target.

Any contingent consideration earned is payable 50 % in cash and 50 % in RadNet common stock.

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Treasury rates plus RadNet's credit spread.

Key assumptions as of March 31, 2026 included a 2.2 % revenue risk premium, 25 % revenue volatility, 60 % operational leverage ratio, and 3 % credit spread.

Key assumptions as of June 30, 2026 included a 2.4 % revenue risk premium, 25 % revenue volatility, 60 % operational leverage ratio, and 2 % credit spread.

On March 2, 2026, the Company, through our wholly owned subsidiary DH AI International Holdings, B.V., completed the acquisition of all the equity interests of Gleamer SAS.

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The fair value of the contingent consideration was estimated using a Monte Carlo simulation model, which considered a range of potential ARR outcomes and calculated the present value of expected payments.

Key assumptions as of March 31, 2026 included a 2 % ARR risk premium, 18 % ARR volatility, 75 % operational leverage ratio, and a 2 % credit spread.

Key assumptions as of June 30, 2026 included a 3 % ARR risk premium, 18 % ARR volatility, 75 % operational leverage ratio, and a 3 % credit spread.

The contingent consideration liability is remeasured at fair value each reporting period, with changes in fair value recognized in earnings.

A tabular roll forward of contingent consideration is as follows (amounts in thousands):

For the three months ended March 31, 2026

Entity Account December 31, 2025 Balance Additions Change in valuation of contingent consideration Currency Translation March 31, 2026 Balance

For the three months ended June 30, 2026

Entity Account March 31, 2026 Balance Additions Change in valuation of contingent consideration Currency Translation June 30, 2026 Balance

See-Mode Technologies Pte.

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Gleamer SAS Accrued expenses $ 8,424 $ — $ 343 $ ( 85 ) $ 8,682

For the six months ended June 30, 2026

Entity Account December 31, 2025 Balance Additions Change in valuation of contingent consideration Currency Translation June 30, 2026 Balance

See-Mode Technologies Pte.

Accrued expenses and other non-current liabilities $ 5,329 $ — $ 1,717 $ ( 18 ) $ 7,028

Kolb Radiology P.C.

Accrued expenses and other non-current liabilities $ 3,900 $ — $ ( 3,527 ) $ — $ 373

CIMAR (UK) Limited Accrued expenses and other non-current liabilities $ 5,753 $ — $ 1,074 $ ( 66 ) $ 6,761

Gleamer SAS Accrued expenses $ — $ 8,618 $ 343 $ ( 279 ) $ 8,682

FAIR VALUE MEASUREMENTS – Assets and liabilities subject to fair value measurements are required to be disclosed within a fair value hierarchy.

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The table below summarizes the estimated fair values of contingencies relating to our acquisitions that are subject to fair value measurements and the classification of these liabilities on our condensed consolidated balance sheets, as follows (in thousands):

As of March 31, 2026

As of June 30, 2026

Level 1 Level 2 Level 3 Total

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Kolb Radiology P.C.

— — 4,100 4,100

CIMAR (UK) Limited — — 6,761 6,761

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The table below summarizes the estimated fair value and carrying amount of our Barclays Term Loans and Truist Term Loan long-term debt as follows (in thousands):

As of March 31, 2026

As of June 30, 2026

Level 1 Level 2 Level 3 Total Fair Value Total Face Value

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EARNINGS PER SHARE - Earnings per share is based upon the weighted average number of shares of common stock and common stock equivalents outstanding, net of common stock held in treasury, as follows (in thousands except share and per share data):

Three Months Ended March 31,

NET LOSS ATTRIBUTABLE TO RADNET, INC.

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC.

COMMON STOCKHOLDERS $ 7,530 $ 14,454 $ ( 25,936 ) $ ( 23,472 )

BASIC AND DILUTED NET LOSS PER SHARE ATTRIBUTABLE TO RADNET, INC.

BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC.

COMMON STOCKHOLDERS

Weighted average number of common shares outstanding during the period 77,788,452 74,352,498 77,425,061 74,070,438

Basic and diluted net loss per share attributable to RadNet, Inc.'s common stockholders

Basic net income (loss) per share attributable to RadNet, Inc.'s common stockholders

$ 0.10 $ 0.19 $ ( 0.33 ) $ ( 0.32 )

DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC.

COMMON STOCKHOLDERS

Weighted average number of common shares outstanding during the period 77,788,452 74,352,498 77,425,061 74,070,438

Add non-vested restricted stock subject only to service vesting 906,831 1,113,969 — —

Add additional shares issuable upon exercise of stock options and contingently issuable shares 35,738 65,276 — —

Weighted average number of common shares used in calculating diluted net income per share 78,731,021 75,531,743 77,425,061 74,070,438

Changes in FV associated with contingently issuable shares $ — $ — $ — $ —

Net income (loss) attributable to RadNet, Inc's common stockholders for diluted share calculation

$ 7,530 $ 14,454 $ ( 25,936 ) $ ( 23,472 )

Diluted net income (loss) income per share attributable to RadNet, Inc.'s common stockholders

$ 0.10 $ 0.19 $ ( 0.33 ) $ ( 0.32 )

Stock options and non-vested restricted awards excluded from the computation of diluted per share amounts as their effect would be antidilutive:

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If there is no readily determinable fair value, the guidance allows entities the ability to measure investments at cost, adjusted for observable price changes and impairments, with changes recognized in net income.

As of March 31, 2026 and December 31, 2025, we have five equity investments with an aggregate carrying value of $ 10.8 million.

No observable price changes or impairments in our investments were identified for the three months ended March 31, 2026.

INVESTMENT IN JOINT VENTURES – As of March 31, 2026, we have 12 unconsolidated joint ventures operating 50 diagnostic imaging centers that represent partnerships with hospitals, or health systems and were formed for the purpose of owning and operating diagnostic imaging centers.

As of June 30, 2026 and December 31, 2025, we have seven equity investments with an aggregate carrying value of $ 16.8 million.

No observable price changes or impairments in our investments were identified for the three and six months ended June 30, 2026.

INVESTMENT IN JOINT VENTURES – As of June 30, 2026, we have 12 unconsolidated joint ventures operating 50 diagnostic imaging centers that represent partnerships with hospitals, or health systems and were formed for the purpose of owning and operating diagnostic imaging centers.

Professional services at the joint venture diagnostic imaging centers are performed by contracted radiology practices or a radiology practice that participates in the joint venture.

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We evaluate our investment in joint ventures, including cost in excess of book value (equity method goodwill) for impairment whenever indicators of impairment exist.

No indicators of impairment existed as of March 31, 2026 and December 31, 2025.

The table below summarizes our ownership interest in these unconsolidated joint ventures as of March 31, 2026:

No indicators of impairment existed as of June 30, 2026 and December 31, 2025.

The table below summarizes our ownership interest in these unconsolidated joint ventures as of June 30, 2026:

Joint Venture Percentage Ownership

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Carroll County Radiology, LLC 40 %

Baltimore Washington Imaging Center, LLC 35 %

Baltimore Washington Imaging, LLC 35 %

Calvert Medical Imaging Centers, LLC 50 %

Montgomery Community Magnetic Imaging Ctr LP 49 %

Montgomery Community Magnetic Imaging Center, LLC 49 %

Airy Imaging Center LLC 40 %

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Joint venture investment and financial information

The following table is a summary of our investment in joint ventures during the three months ended March 31, 2026 (in thousands):

The following table is a summary of our investment in joint ventures during the six months ended June 30, 2026 (in thousands):

Balance as of December 31, 2025 $ 130,340

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Distribution of earnings ( 3,856 )

Balance as of March 31, 2026 $ 131,409

We charged management service fees from the imaging centers underlying these unconsolidated joint ventures of approximately $ 6.6 million and $ 6.1 million for the three months ended March 31, 2026 and 2025, respectively.

Balance as of June 30, 2026 $ 135,019

We charged management service fees from the imaging centers underlying these unconsolidated joint ventures of approximately $ 7.9 million and $ 6.5 million for the three months ended June 30, 2026 and 2025, respectively, and $ 15.3 million and $ 12.6 million for the six months ended June 30, 2026 and 2025

These management fees are expenses of the unconsolidated joint ventures and are recognized as service fee revenue.

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Amounts transacted between us and the entities are in the ordinary course of business and are disclosed on our condensed consolidated balance sheet in the due from/to affiliate accounts.

The following table is a summary of key balance sheet data for these joint ventures as of March 31, 2026 and December 31, 2025 and income statement data for the three months ended March 31, 2026 and 2025 (in thousands):

The following table is a summary of key balance sheet data for these joint ventures as of June 30, 2026 and December 31, 2025 and income statement data for the three and six month ended June 30, 2026 and 2025 (in thousands):

Balance Sheet Data:

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Current assets $ 95,060 $ 79,220

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Total net assets $ 234,094 $ 224,687

Income statement data for the three months ended March 31,

Three Months Ended June 30, Six Months Ended June 30,

Income statement data 2026 2025 2026 2025

Net revenue $ 76,970 $ 72,438 $ 150,299 $ 138,711

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The note is expected to mature on December 1, 2026.

As of March 31, 2026, the remaining balance of $ 8.6 million is entirely classified as current and recorded within Due from Affiliates.

As of June 30, 2026, the remaining balance of $ 4.7 million is entirely classified as current and recorded within Due from Affiliates.

NOTE 3 – RECENT ACCOUNTING AND REPORTING STANDARDS

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Imaging Center Segment

During the three months ended March 31, 2026, we completed the acquisition of certain assets of the following entities, which either engage directly in the practice of radiology or associated businesses.

The primary reason for these acquisitions was to strengthen our presence in the Indiana and Florida markets.

During the six months ended June 30, 2026, we completed the acquisition of certain assets of the following entities, which either engage directly in the practice of radiology or associated businesses.

The primary reason for these acquisitions was to strengthen our presence in the Idaho, Indiana, and Florida markets.

These acquisitions are reported as part of our Imaging Center segment.

As of March 31, 2026, we made a preliminary fair value determination of the acquired assets and assumed liabilities and the following were recorded (in thousands).

As of June 30, 2026, we made a preliminary fair value determination of the acquired assets and assumed liabilities and the following were recorded (in thousands).

The valuation of assets acquired and liabilities assumed has not yet been finalized and remains subject to change, primarily related to the completeness of accrued liabilities, the accuracy of fixed asset valuations, and other customary purchase accounting adjustments.

The fair value determination is preliminary and may be updated as additional information becomes available.

Entity Date Acquired Total Consideration Property & Equipment Right of Use Assets Goodwill Intangible Assets Accounts receivable Prepaid expenses and other current assets Accounts payable, accrued expenses and other Right of Use Liabilities Finance lease

Regional Radiology Center 1/6/2026 $ 57,309 38,018 59,951 21,780 4,335 10,489 2,407 ( 14,274 ) ( 61,151 ) ( 4,246 ) —

Northwest Radiology Network PC 2/2/2026 9,000 8,668 9,424 189 130 — 13 — ( 9,424 ) — —

Intermountain Medical Imaging 5/1/2026 19,663 9,933 5,710 25,522 1,433 — 97 ( 680 ) ( 7,760 ) — ( 14,592 )

Total 85,972 56,619 75,085 47,491 5,898 10,489 2,517 ( 14,954 ) ( 78,335 ) ( 4,246 ) ( 14,592 )

In connection with these Imaging Centers acquisitions, the aggregate consideration transferred consisted of approximately $ 66.5 million in cash, adjusted for approximately $ 0.6 million of acquired cash, net of debt assumed, and included approximately $ 0.4 million of holdback consideration and the settlement of a $ 1.0 million note payable owed to RadNet by the seller.

In connection with these Imaging Centers acquisitions, the aggregate consideration transferred was approximately $ 86.0 million, comprising approximately $ 78.1 million of cash consideration, $ 3.0 million of holdback consideration, $ 3.8 million of debt assumed, net of cash acquired, and the settlement of a $ 1.0 million note payable owed to RadNet by a seller.

Formation and acquisition of majority owned subsidiary and sale of economic interest

On May 1, 2026, we acquired a 50 % membership interest in Intermountain Medical Imaging, LLC (“IMI”) from Imaging Center Radiologists, LLP and an additional 1 % membership interest from Saint Alphonsus Diversified Care, LLC for aggregate cash consideration of approximately $ 15.2 million, subject to a working capital adjustment.

We hold a 51 % controlling interest in IMI, and Saint Alphonsus Diversified Care, LLC retains the remaining 49 % interest.

The joint venture operates outpatient imaging centers in Idaho.

We began consolidating the results of IMI upon obtaining control on May 1, 2026.

On March 21, 2025, we formed Pacific Diagnostic Imaging Group, LLC (“PDRG”), a Delaware limited liability company.

On April 1, 2025, we entered into a partnership with Tri-City Healthcare District (“Tri-City”) by selling a 20 % membership interest in PDRG for cash consideration of $ 337,500 .

We retained an 80 % controlling interest in PDRG.

The joint venture operates outpatient imaging centers in Southern California.

The transaction did not result in a change of control, and no gain or loss was recognized.

Digital Health Segment

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In addition, we recorded identifiable intangible assets of approximately $ 111.6 million, consisting of developed technology of $ 29.2 million, customer relationships of $ 76.0 million, trade names of $ 3.5 million, and other intangible assets of $ 2.8 million.

The acquisition also included approximately $ 30.4 million of other operating assets and $ 0.3 million of other net tangible assets.

The acquisition also included approximately $ 16.2 million of cash acquired, $ 14.2 million of other operating assets and $ 0.3 million of other net tangible assets.

Liabilities assumed included deferred tax liabilities of $ 21.5 million and debt and other liabilities of $ 27.6 million.

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The valuations were performed using the income approach, consistent with market participant assumptions.

The income approach incorporated assumptions such as projected revenues, estimated customer attrition, royalty rates, and discount rates reflecting market participant expectations.

The income approach incorporated

assumptions such as projected revenues, estimated customer attrition, royalty rates, and discount rates reflecting market participant expectations.

The identified intangible assets were assigned estimated useful lives as follows:

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and other intangible assets — approximately 1 to 3 years.

As of March 31, 2026, the valuation of assets acquired and liabilities assumed is preliminary and subject to change during the measurement period, primarily with respect to the valuation of identifiable intangible assets, contingent consideration, and deferred taxes.

As of June 30, 2026, the valuation of assets acquired and liabilities assumed is preliminary and subject to change during the measurement period, primarily with respect to the valuation of identifiable intangible assets, contingent consideration, and deferred taxes.

The fair value of contingent consideration will be remeasured at each reporting period until the contingency is resolved.

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The following tables reflect certain financial data for each reportable segment:

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

Imaging Center Digital health Total

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Equity in earnings of joint ventures 4,710

Other income 4,907

Loss before income taxes $ ( 32,828 )

Debt restructuring and extinguishment expenses ( 3,368 )

Other income, net 3,960

Income before income taxes $ 26,617

*Other segment items include operating expenses, inclusive of cost of operations and lease abandonment charges.

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Imaging Center Digital health Total

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Non-cash change in fair value of interest rate swaps ( 1,956 )

Other income 7,712

Other income, net 7,764

Income before income taxes $ 23,854

*Other segment items include operating expenses, inclusive of cost of operations and lease abandonment charges.

Six Months Ended June 30, 2026

Imaging Center Digital health Total

Revenues from external customers $ 1,158,807 $ 39,544 $ 1,198,351

Intersegment revenues — 22,003 22,003

$ 1,158,807 $ 61,547 $ 1,220,354

Reconciliation of revenue

Elimination of intersegment revenues ( 22,003 )

Total consolidated revenues $ 1,198,351

Other segment items* $ 1,029,792 $ 78,669

Segment profit (loss) 129,015 ( 17,122 ) 111,893

Reconciliation of segment profit

Depreciation and amortization $ ( 90,496 )

Loss on sale and disposal of equipment and other ( 3,708 )

Severance costs ( 2,124 )

Interest expense ( 35,810 )

Equity in earnings of joint ventures 8,535

Debt restructuring and extinguishment expenses ( 3,368 )

Other income, net 8,867

Loss before income taxes $ ( 6,211 )

*Other segment items include operating expenses, inclusive of cost of operations and lease abandonment charges.

NOTE 6 – CREDIT FACILITIES AND NOTES PAYABLE

At March 31, 2026, we had two principal secured credit facilities consisting of our Barclays Revolving Credit Facility (as defined below) and our Truist Revolving Credit Facility (as defined below).

Six Months Ended June 30, 2025

Imaging Center Digital health Total

Revenues from external customers $ 948,594 $ 21,035 $ 969,629

Intersegment revenues — 18,912 18,912

948,594 39,947 988,541

Reconciliation of revenue

Elimination of intersegment revenues ( 18,912 )

Total consolidated revenues $ 969,629

Other segment items* $ 859,890 $ 47,098

Segment profit (loss) 88,704 ( 7,151 ) 81,553

Reconciliation of segment profit

Depreciation and amortization ( 71,476 )

Loss on sale and disposal of equipment and other ( 2,126 )

Severance costs ( 1,173 )

Interest expense ( 34,428 )

Equity in earnings of joint ventures 6,955

Non-cash change in fair value of interest rate swaps ( 4,062 )

Other income, net 15,476

Income before income taxes $ ( 9,281 )

*Other segment items include operating expenses, inclusive of cost of operations and lease abandonment charges.

NOTE 6 – CREDIT FACILITIES, NOTES PAYABLE, AND FINANCE LEASE

At June 30, 2026, we had two principal secured credit facilities consisting of our Barclays Revolving Credit Facility (as defined below) and our Truist Revolving Credit Facility (as defined below).

Each facility includes a term loan component and a revolving credit facility.

At March 31, 2026, we were in compliance with all covenants under our credit facilities.

At June 30, 2026, we were in compliance with all covenants under our credit facilities.

Barclays Credit Facility

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Pursuant to the First Amendment, the interest rates on the term loans and revolving credit facility provided under the Restated Credit Agreement have been reduced by 0.25 %.

Total costs incurred in connection with the first amendment amounted to approximately $ 2.4

million segregated as follows:

$ 0.6 million recognized as discount, $ 1.8 million charged to loss on early extinguishment of debt and $ 0.1 million to related expenses.

Total costs incurred in connection with the first amendment amounted to approximately $ 2.4 million segregated as follows:

$ 0.6 million recognized as discount, $ 1.8 million charged to loss on early extinguishment of debt

and $ 0.1 million to related expenses.

Amounts capitalized will be amortized over the remaining terms of the respective credit facilities under the Barclays Credit Agreement.

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The remaining outstanding principal will be due as a lump-sum payment on April 18, 2031, the maturity date of the incremental term loan.

On June 10, 2026, we entered into Incremental Amendment No.

3 to the Barclays Credit Agreement (the “Third Amendment”), which repriced the approximately $ 958.7 million outstanding balance of our existing term loan by reducing the applicable interest rate by 0.25 % and provided approximately $ 250.0 million of additional term loan borrowings.

We incurred approximately $ 4.4 million of financing costs in connection with the Third Amendment, consisting of approximately $ 1.1 million of original issue discount, a $ 0.4 million write-off of previously deferred financing costs associated with the portion of the existing term loan accounted for as an extinguishment, and $ 3.0 million of other financing-related fees and expenses.

Capitalized financing costs will be amortized over the remaining term of the applicable debt.

Pursuant to the Third Amendment, we are required to make quarterly principal payments of approximately $ 3.1 million, compared to approximately $ 2.4 million prior to the amendment.

The remaining outstanding principal balance will be due as a lump-sum payment on April 18, 2031, the maturity date of the term loan facility.

Barclays Term Loan:

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Prime Rate plus 1.25 %

6.07 % (credit spread adjustment of 0.00 % )

As of March 31, 2026

As of June 30, 2026

SOFR plus 2.0 %

Prime Rate plus 1.0 %

5.9 % (credit spread adjustment of 0.00 %) 8.0 %

Barclays Revolving Credit Facility:

The Barclays Revolving Credit Facility is a $ 282.0 million senior secured revolving credit facility.

Associated with the Barclays Revolving Credit Facility is deferred financing costs, net of accumulated amortization, of $ 1.3 million at March 31, 2026.

After we entered the first amendment on November 26, 2024, amounts borrowed under the Barclays Revolving Credit Facility bear interest at either SOFR plus 2.75 % or the Prime Rate plus 1.8 % (with step-downs based on attainment of certain first lien net leverage ratio benchmarks).

As of March 31, 2026, the effective interest rate payable on revolving loans under the Barclays Revolving Credit Facility was 8.50 %.

Associated with the Barclays Revolving Credit Facility is deferred financing costs, net of accumulated amortization, of $ 1.2 million at June 30, 2026.

Following the Third Amendment, amounts borrowed under the Barclays Revolving Credit Facility bear interest, at our election, at either Term SOFR plus an applicable margin ranging from 2.00 % to 2.50 % or the Alternate Base Rate plus an applicable margin ranging from 1.00 % to 1.50 %, in each case based on the attainment of certain first lien net leverage ratio benchmarks.

As of June 30, 2026, the effective interest rate payable on revolving loans under the Barclays Revolving Credit Facility was 8.50 %.

In addition, a commitment fee of 0.50 % per annum accrues on the unused revolver commitments under the Barclays Revolving Credit Facility.

We had no outstanding balance under our $ 282.0 million Barclays Revolving Credit Facility at March 31, 2026 and December 31, 2025.

After reserves of $ 8.6 million for certain letters of credit, $ 273.4 million was available to draw upon as of March 31, 2026.

We had no outstanding balance under our $ 282.0 million Barclays Revolving Credit Facility at June 30, 2026 and December 31, 2025.

After reserves of $ 8.6 million for certain letters of credit, $ 273.4 million was available to draw upon as of June 30, 2026.

The Barclays Revolving Credit Facility terminates on April 18, 2029, unless otherwise accelerated under the terms of the Barclays Credit Agreement.

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The Truist Term Loan currently bears interest at SOFR or a Base Rate plus an applicable margin and fees which step down based on a leverage ratio.

At March 31, 2026 the applicable margin for SOFR was 1.5 %.

At June 30, 2026 the applicable margin for SOFR was 1.5 %.

We are required to make quarterly principal payments of $ 2.8 million, which increases by $ 0.9 million at scheduled intervals, with the remaining balance to be paid at maturity.

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The Truist Revolving Credit Facility is a $ 50.0 million secured revolving credit facility.

Associated with the Truist Revolving Credit Facility are deferred financing costs, net of accumulated amortization, of $ 0.2 million at March 31, 2026.

Associated with the Truist Revolving Credit Facility are deferred financing costs, net of accumulated amortization, of $ 0.2 million at June 30, 2026.

Amounts borrowed under the Truist Revolving Credit Facility bear interest at either SOFR or a Base Rate plus an applicable margin and fees which step down based on a leverage ratio.

In addition, a commitment fee of 0.30 % per annum accrues on the unused revolver commitments under the Truist Revolving Credit Facility.

We had no balance outstanding under our $ 50.0 million Truist Revolving Credit Facility at March 31, 2026 and December 31, 2025.

With no letters of credit reserved against the facility, the full $ 50.0 million was available to draw upon as of March 31, 2026.

We had no balance outstanding under our $ 50.0 million Truist Revolving Credit Facility at June 30, 2026 and December 31, 2025.

With no letters of credit reserved against the facility, the full $ 50.0 million was available to draw upon as of June 30, 2026.

The Truist Revolving Credit Facility terminates on October 7, 2027, unless otherwise accelerated under the terms of the Truist Credit Agreement.

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Other notes payables include obligations assumed in connection with government-sponsored innovation financing arrangements of acquired subsidiaries.

Debt Obligations

As of March 31, 2026 and December 31, 2025 our term loan debt and other obligations are as follows (in thousands):

Debt Obligations and finance lease

As of June 30, 2026 and December 31, 2025, our term loan debt and other debt obligations, excluding finance lease liabilities, were as follows (in thousands):

2026 December 31,

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Other notes payable, due through 2036 2,812 —

Total debt obligations 1,086,483 1,089,919

Total debt obligations, excluding finance lease liabilities 1,332,531 1,089,919

current portion ( 30,669 ) ( 25,424 )

Long term portion of debt obligations $ 1,301,862 $ 1,064,495

Total debt obligations, including finance lease liabilities

The following table reconciles the debt obligations presented above to total debt obligations, including finance lease liabilities (in thousands):

2026 December 31,

Total debt obligations, excluding finance lease liabilities $ 1,332,531 $ 1,089,919

Short-term finance lease liability* 1,332 —

Long-term finance lease liability 4,288 $ —

Total debt obligations, including finance lease liabilities

$ 1,338,151 $ 1,089,919

*The short-term finance lease liability is included in “Accounts payable, accrued expenses and other” in the accompanying condensed consolidated balance sheets.

Finance lease obligations bear interest at rates ranging from 3.2 % to 8.8 % and mature at various dates through 2030.

NOTE 7 – STOCK-BASED COMPENSATION

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We have one long-term equity incentive plan, the RadNet, Inc.

Equity Incentive Plan, which has been amended and restated on April 20, 2015, March 9, 2017, April 15, 2021, April 27, 2023, and most recently following approval by our stockholders at our annual stockholders meeting on June 7, 2023 (the “Restated Plan”).

Equity Incentive Plan, which has been amended and restated on April 20, 2015, March 9, 2017, April 15, 2021, April 27, 2023, April 16, 2026 and most recently following approval by our stockholders at our annual stockholders meeting on June 2, 2026 (the “Restated Plan”).

We have reserved for issuance under the Restated Plan 23,100,000 shares of common stock for issuance under the Restated Plan which can be issued in the form of incentive and/or nonstatutory stock options, restricted and/or unrestricted stock, stock units and stock appreciation rights.

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Stock options generally vest over 3 to 5 years and expire 5 to 10 years from the date of grant.

The following summarizes all of our option transactions for the three months ended March 31, 2026:

The following summarizes all of our option transactions for the six months ended June 30, 2026:

Outstanding Options

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Exercised ( 97,854 ) 6.82

Balance, March 31, 2026 927,262 20.38 5.3 $ 32,923

Exercisable at March 31, 2026 838,686 20.45 5.1 $ 29,724

Aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between our closing stock price on March 31, 2026 and the exercise price, multiplied by the number of in-the-money options as applicable) that would have been received by the holder had all holders exercised their options on March 31, 2026.

As of March 31, 2026, total unrecognized stock-based compensation expense related to non-vested employee awards was $ 0.4 million which is expected to be recognized over a weighted average period of approximately 0.9 years .

Balance, June 30, 2026 897,020 20.44 5.0 $ 36,980

Exercisable at June 30, 2026 810,148 20.54 4.8 $ 33,322

Aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between our closing stock price on June 30, 2026 and the exercise price, multiplied by the number of in-the-money options as applicable) that would have been received by the holder had all holders exercised their options on June 30, 2026.

As of June 30, 2026, total unrecognized stock-based compensation expense related to non-vested employee awards was $ 0.3 million which is expected to be recognized over a weighted average period of approximately 0.7 years .

Restricted Stock Awards (“RSAs”) and Restricted Stock Units (“RSUs”)

The Restated Plan permits the award of RSAs and RSUs.

The following summarizes all unvested RSA and RSU activities for the three months ended March 31, 2026:

The following summarizes all unvested RSA and RSU activities for the six months ended June 30, 2026:

RSAs and RSUs Weighted-Average

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Forfeited or Canceled ( 40,682 ) $ 59.22

RSAs and RSUs unvested at March 31, 2026 1,044,986 1.41 $ 67.16

RSAs and RSUs unvested at June 30, 2026 1,043,172 1.19 $ 67.38

We determine the fair value of all RSAs and RSUs based on the closing price of our common stock on the grant date.

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The number of shares earned may range from 0 % to 100 % of the target award based on actual performance results.

As of March 31, 2026, based on performance achieved to date, all 35,522 shares are expected to vest.

As of June 30, 2026, based on performance achieved to date, all 35,522 shares are expected to vest.

In January 2023, we granted certain employees PSUs with a target award of 60,685 shares of our common stock with a fair value of $ 18.64 .

2 unchanged sentences

Shares available

Of the 20,100,000 shares of common stock reserved for issuance under the Restated Plan, at March 31, 2026, there remain approximately 1,342,517 shares available under the Restated Plan for future issuance.

Of the 23,100,000 shares of common stock reserved for issuance under the Restated Plan, at June 30, 2026, there remain approximately 4,314,589 shares available under the Restated Plan for future issuance.

NOTE 8 – SUBSEQUENT EVENTS

On May 1, 2026, the Company acquired a 50 % membership interest in Intermountain Medical Imaging, LLC for purchase consideration of approximately $ 17.5 million, subject to customary adjustments.

Intermountain Medical Imaging operates multi-modality imaging centers in Idaho.

On August 1, 2026, we consummated two contribution transactions with University of Maryland Medical System Corporation (“UMMS”) and its affiliates (the “UMMS Affiliates”) to form a new global joint venture, Maryland Imaging Partners, LLC (“MIP”), that reorganized our existing joint ventures with UMMS for imaging centers in Maryland.

In the reorganization, we and certain UMMS Affiliates contributed each party’s respective ownership interests in our six existing joint ventures to MIP.

We also contributed assets from six wholly-owned imaging centers located in Maryland to Advanced/Upper Chesapeake Health Center, LLC, a wholly-owned subsidiary of MIP.

Following the contributions, we own an 80 % interest in MIP and UMMS owns a 20 % interest.

MIP operates 19 imaging centers located in Maryland.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements