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RadNet cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$37.8M in Q2 2026 · $72.4M over twelve months

Operating cash flow$94.1M
Capital spending−$56.3M
Free cash flow+$37.8M
Cash / net income4.6×

Analysis

In Q2 2026, RadNet generated $94.1M of operating cash flow and spent $56.3M on capital projects, leaving free cash flow of $37.8M. That is $29.6M less than in Q2 2025 ($67.4M).

Over the twelve months to Jun 30, 2026, operating cash flow was $310M; the largest uses were other investing ($388M), capital spending ($238M), other financing ($17.6M); besides operations, cash came from net borrowing (+) / repaid (−) ($227M), shares issued ($5.5M); the cash balance fell by $107M.

Operating cash flow was $94.1M against net income of $20.3M — 4.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$45.5M, payables +$43.4M, receivables −$32.8M.

Free cash flow

RadNet: free cash flow by quarterRadNet: free cash flow by quarter$16.3MQ3 2024−$377KQ4 2024−$7.4MQ1 2025$67.4MQ2 2025−$7.6MQ3 2025$33.1MQ4 2025$9.0MQ1 2026$37.8MQ2 2026
Operating cash flow less capital spending.
RadNet: operating cash flow against capital spendingRadNet: operating cash flow against capital spendingOperating cash flowCapital spending$57.4M$41.1MQ3 2024$42.5M$42.9MQ4 2024$41.5M$48.8MQ1 2025$120M$52.9MQ2 2025$52.8M$60.4MQ3 2025$84.2M$51.0MQ4 2025$79.0M$69.9MQ1 2026$94.1M$56.3MQ2 2026
Latest (Q2 2026): Operating cash flow $94.1M, Capital spending $56.3M.

Capital allocation, year by year

RadNet: where the cash came from (up) and went (down), by fiscal yearRadNet: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $149MFY2021: Net borrowing $94.5MFY2021: Shares issued $488KFY2021: Asset sales $13.1MFY2021: Capital spending −$138M$258MFY2021FY2022: Operating cash flow $146MFY2022: Net borrowing $94.2MFY2022: Shares issued $294KFY2022: Capital spending −$119M$241MFY2022FY2023: Operating cash flow $221MFY2023: Net borrowing −$41.1MFY2023: Shares issued $246MFY2023: Asset sales $83KFY2023: Capital spending −$177M$467MFY2023FY2024: Operating cash flow $233MFY2024: Net borrowing $171MFY2024: Shares issued $219MFY2024: Asset sales $157KFY2024: Capital spending −$188M$624MFY2024FY2025: Operating cash flow $299MFY2025: Net borrowing $78.2MFY2025: Shares issued $5.4MFY2025: Asset sales $1.3MFY2025: Capital spending −$213M$384MFY2025
Over these 5 years operating cash flow totalled $1.0B; the largest uses were capital spending ($835M) and net borrowing ($41.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$726M
Debt$1.3B
Net debt$606M
Due within a year$27.9M

RadNet funds itself: free cash flow was $72.4M over the last twelve months, and $726M of cash and investments stands against $1.3B of debt ($27.9M due within a year, 26.0× covered by cash).

RadNet: debt maturities by year (FY2025)RadNet: debt maturities by year (FY2025)$27.9MYear 1$129MYear 2$12.7MYear 3$10.0MYear 4$9.8MYear 5$912MAfter year 5
Principal due in each year as disclosed in the annual report, against $726M of cash and investments now.

Where the cash came from and went

RadNet: sources (+) and uses (−) of cash, Q2 2026RadNet: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)−$271MOther financing$247MOperating cash flow$94.1MCapital spending−$56.3MOther investing−$7.7MNet borrowing (+) / repaid (−)−$5.9MPartners−$1.5MShares issued$509KAsset & business sales$467KExchange rates$169K
RadNet: sources (+) and uses (−) of cash, TTM to Q2 2026RadNet: sources (+) and uses (−) of cash, TTM to Q2 2026Other investing−$388MOperating cash flow$310MCapital spending−$238MNet borrowing (+) / repaid (−)$227MCash drawn (+) / kept (−)$107MOther financing−$17.6MShares issued$5.5MPartners−$5.2MExchange rates−$2.8MAsset & business sales$2.0M

From profit to cash

RadNet: net income to operating cash flow, Q2 2026RadNet: net income to operating cash flow, Q2 2026Net income$20.3MDepreciation & amortization$45.5MStock-based pay$10.5MGains on disposals$1.1MReceivables−$32.8MPayables$43.4MDeferred revenue$782KPrepaid and other assets$5.0MOperating cash flow$94.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$94.1M−$56.3M−$5.9M$509K−$271M$37.8M
Q1 2026$79.0M−$69.9M−$5.3M$103K$312M$9.0M
Q4 2025$84.2M−$51.0M−$5.3M$3.2M$37.5M$33.1M
Q3 2025$52.8M−$60.4M−$5.3M$1.7M$28.4M−$7.6M
Q2 2025$120M−$52.9M−$5.3M$433K−$116M$67.4M
Q1 2025$41.5M−$48.8M−$5.0M$121K$22.7M−$7.4M
Q4 2024$42.5M−$42.9M−$4.1M$300K$8.9M−$377K
Q3 2024$57.4M−$41.1M−$6.0M—−$7.2M$16.3M

RadNet: income statement and cash flow

RadNet, Q2 2026: revenue $623M (+25% year over year), operating margin 6.3%. The chart follows the revenue to costs, profit and cash.

RadNet: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.