RDNT - Takeaways From The Call - Core Trends Remain Strong, Plenty Of Opportunity

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RDNT - Takeaways From The Call - Core Trends Remain Strong, Plenty Of Opportunity

Truist Securities

Equity Research Report May 12, 2026

HEALTHCARE: Diagnostic Imaging RadNet, Inc. (RDNT)

RDNT - Takeaways From The Call - Core Trends Remain Strong, David S. MacDonald

617-646-5033 Plenty Of Opportunity

David.Macdonald@truist.com

Clarke Murphy We remain bullish on RDNT following a strong start to ’26 with both the top/bottom-lines

617-646-5032 ahead despite the weather impact on strong core trends with FY26 guidance raised. Volumes

Clarke.Murphy@truist.com were ahead of our thinking and recovered nicely in March/into early 2Q, we remain upbeat

on strength among advanced procedures and Imaging Segment guidance was raised across

Grayson McAlister the board. Digital Health growth remains brisk with strong external demand, the Gleamer

404-836-4742 acquisition is on track and the $140M+ ARR target remains unchanged. Cash flow/financial

Grayson.McAlister@truist.com flexibility remains solid, supporting ongoing growth investment/M&A. Reit. Buy – our model/

valuation are under review.

Stock Rating BUY Off And Running In ’26, Strong Start With FY26 Guide Raised. RDNT reported what

Unchanged we view as upbeat results with both the top/bottom-lines ahead of our thinking, continued

brisk advanced procedure volume trends and progress in Digital Health. Total revenue of

Price Target $90.00 $575.6M was ahead of both our $562.7ME and consensus $557.9ME despite an estimated

Unchanged ~$13M weather impact with volumes ahead of our thinking across the board (more below).

Management noted volumes rebounded following more severe weather in the Northeast in

January/February with strong performance in March and upbeat trends continuing into April/

early May.