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- RadNet Inc (NASDAQ:RDNT) reports Q1 FY22 revenue of $341.8 million, +8.4% Y/Y, beating the consensus of $330.41 million.
- Revenue increased 8.2%, excluding Artificial Intelligence reporting segment.
- Aggregate procedural volumes increased 8.8%; Same-center procedural volumes increased 6.6% Y/Y.
- RadNet's adjusted EBITDA grew 4.1% Y/Y to $41.7 million, excluding losses from the AI reporting segment and Provider Relieve Funding.
- The company posted an adjusted EPS loss of $(0.15), a turnaround from an EPS of 0.05 a year ago.
- Dr. Howard Berger, president & CEO, commented, "Despite being impacted in January by the omicron variant of COVID-19, we produced the highest first-quarter revenue and adjusted EBITDA from our imaging center operations in our company's history."
- Guidance: RadNet expects FY22 sales of $1.36 billion - $1.41 billion, up from previous guidance of $1.35 billion - $1.4 billion, versus the consensus of $1.38 billion.
- It expects an adjusted EBITDA of $208 million - $218 million, compared to earlier guidance of $205 million - $215 million.
- Price Action: RDNT shares closed 4.86% lower at $19.00 on Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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