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RadNet (RDNT) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · RadNet (RDNT) Q2 2026 earnings results →
Q2 2026 Revenue up 25% year over year to $623M · 1¢ of every $1 of revenue kept as net profit · operating margin 6.3%
RadNet made $623M in Q2 2026 (+25% Y/Y): Health Care, Patient Service $595M, Medicaid $14.5M, Workers' compensation/personal injury $13.5M. Operating margin 6.3%, net earnings $7.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $622.7M in Q2 2026, up 25% year over year and up 8% from the previous quarter. Commercial insurance was the largest line at 55% of revenue. Commercial insurance added $60.5M year over year (up 22%), 49% of the total change.
Operating profit was $39.5M, a 6.3% margin (up 0.1 points year over year). Of the extra revenue versus Q2 2025, 7% reached operating profit, above the 6% margin then. Total costs grew 25% against revenue growth of 25%. Net earnings were $7.5M, down 48% year over year. The effective tax rate was 23.9%.
Operating cash flow was $94.1M (down 22% year over year), 465% of net income including minority interests. Non-cash charges added back $45.5M of depreciation and amortization and $10.5M of share-based compensation. Working capital and other items added $17.8M. Capital expenditures of $56.3M left free cash flow of $37.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $623M | +25% | 6.3% | $7.5M | $94.1M |
| Q1 2026 | 10-Q | May 11, 2026 | $576M | +22% | -4.2% | −$24.7M | $79.0M |
| Q4 2025 | 10-K | Mar 2, 2026 | $548M | +15% | 5.1% | $9.9M | $84.2M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $523M | +13% | 5.2% | $5.4M | $52.8M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $498M | +8% | 6.2% | $14.5M | $120M |
| Q1 2025 | 10-Q | May 12, 2025 | $471M | +9% | -5.1% | −$29.7M | $41.5M |
| Q4 2024 | 10-K | Mar 3, 2025 | $477M | +14% | 5.1% | $5.3M | $42.5M |
Charts
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💵Where each $1 goesinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- U.S. government · Stated in 10-K (named, share not stated) · source
- Medicare & Medicaid · Stated in 10-K (named, share not stated) · source
About RadNet
RadNet, Inc. is a leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of owned and operated outpatient imaging centers. RadNet’s markets include Arizona, California, Delaware, Florida, Idaho, Indiana, Maryland, New Jersey, New York, Texas and Virginia. In addition, RadNet provides radiology information technology and artificial intelligence solutions marketed under the DeepHealth brand, teleradiology professional services and other related products and services to customers in the diagnostic imaging industry. Together with contracted radiologists, and inclusive of full-time and per diem employees and technologists, RadNet has a total of over 11,000 employees. For more information, visit http://www.radnet.com.
In its own words, from its 8-K, filed Aug 10, 2026.
RadNet against its Services-Medical Laboratories peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +25% against the peers' median +15%. Operating margin: 6.3% against the peers' median 7.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RDNT RadNet | Q2 2026 | $623M | +25% | 6.3% |
| LH Labcorp Holdings | Q3 2026 | $3.8B | +7% | 10.6% |
| DGX Quest Diagnostics | Q3 2026 | $3.1B | +10% | 15.5% |
| NTRA Natera | Q3 2026 | $794M | +34% | -8.6% |
| FTRE Fortrea Holdings | Q3 2026 | $692M | -1% | 2.2% |
| GH Guardant Health | Q3 2026 | $361M | +36% | -36.8% |
| CAI Caris Life Sciences | Q3 2026 | $275M | +27% | 7.0% |
| LMRI Lumexa Imaging Holdings | Q2 2026 | $264M | +5% | 8.7% |
| VCYT Veracyte | Q3 2026 | $152M | +15% | 10.9% |
Source: RadNet 10-Q on SEC EDGAR · CIK 790526 · Services-Medical Laboratories
Guidance and outlook
13F: who owns RDNT and who is buying
More on RDNT
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results
- RadNet guidance history: guided vs reported
- RadNet operating margin by quarter
- RadNet net income by quarter
- RadNet free cash flow by quarter
- RadNet capital expenditures by quarter
- RadNet Health Care, Patient Service revenue by quarter
- RadNet Medicaid revenue by quarter
- RadNet Workers' compensation/personal injury revenue by quarter