RadNet (RDNT) investor relations material

Strategic vision, direction, and industry trends

• Transitioning from reactive detection to proactive prevention, leveraging AI and cloud-native technologies for early disease detection and improved outcomes across neuro, breast, lung, prostate, and cardiac imaging.

• Emphasis on outpatient imaging growth and a shift from hospitals to ambulatory settings, driven by cost, efficiency, patient preference, and a $100B+ fragmented market opportunity.

• Expansion through de novo centers, acquisitions, joint ventures, and mobile/retail solutions to increase access, especially in underserved communities.

• Workforce development initiatives and ongoing investments in talent development address technologist shortages and enhance efficiency and retention.

• Legislative advocacy and partnerships with health systems aim to remove barriers to care and drive preventative screening adoption.

Financial performance and guidance

• Achieved record Q3 2025 results: total revenue up 13.4%, adjusted EBITDA up 15.2% year-over-year, and digital health revenue up 51.6%.

• Three-year outlook (2025-2028): total company revenue CAGR of 11-13%, digital health revenue CAGR of ~30%, and adjusted EBITDA margin improvement of 100-150bps.

• Imaging center revenue and EBITDA guidance increased for both core and digital health divisions, with digital health expected to reach 20%+ EBITDA margins by 2028.

• Over $805M in cash and low leverage provide significant capacity for continued growth via de novo centers, acquisitions, and joint ventures.

• Maintenance capital expenditures expected at 3-4% of net revenue, with commercial and capitated payor pricing increases of 1-3% annually.

Technology, digital health, and operational innovation

• Deep Health OS and a modular AI portfolio unify clinical and operational intelligence, serving 2,000+ global customers with 22 FDA-cleared and 15 CE-marked solutions.

• TechLive remote operations and See-Mode AI tools have scaled rapidly, reducing scan times (30%+ for ultrasound, 50%+ for MRI), increasing capacity, and enabling new reimbursement streams.

• AI-driven productivity tools (smart scheduling, digital registration, agentic AI) reduce no-shows, improve staff efficiency, and enhance patient experience.

• Integration of acquired companies (e.g., See-Mode, iCAD) has delivered efficiency gains and cost synergies ahead of plan.

• Ongoing investment in expanding AI coverage across modalities, with a roadmap to automate reporting and enable autonomous reads for high-volume studies.