$RDNT
RadNet, Inc.

2023 Q4 Form 10-Q Financial Statement

#000162828023038345 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $420.4M $402.0M
YoY Change 9.51% 14.83%
Cost Of Revenue $327.7M $308.0M
YoY Change 9.67% 9.02%
Gross Profit $92.72M $94.00M
YoY Change 8.96% 39.22%
Gross Profit Margin 22.06% 23.38%
Selling, General & Admin $28.88M $29.80M
YoY Change -6.26% -5.16%
% of Gross Profit 31.15% 31.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $32.69M $32.21M
YoY Change 6.58% 10.2%
% of Gross Profit 35.25% 34.27%
Operating Expenses $61.56M $358.7M
YoY Change 0.14% 4.55%
Operating Profit $31.16M $43.25M
YoY Change 31.91% 524.65%
Interest Expense -$21.35M -$16.00M
YoY Change 59.84% -613.48%
% of Operating Profit -68.53% -36.99%
Other Income/Expense, Net $3.745M -$11.97M
YoY Change -1481.92% -799.3%
Pretax Income $6.728M $31.29M
YoY Change -7.1% 262.32%
Income Tax $732.0K $7.200M
% Of Pretax Income 10.88% 23.01%
Net Earnings -$1.860M $17.54M
YoY Change 98.93% 2525.75%
Net Earnings / Revenue -0.44% 4.36%
Basic Earnings Per Share $0.26
Diluted Earnings Per Share -$0.03 $0.25
COMMON SHARES
Basic Shares Outstanding 67.89M shares 67.77M shares
Diluted Shares Outstanding 68.81M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $342.6M $337.9M
YoY Change 167.98% 255.66%
Cash & Equivalents $342.6M $337.9M
Short-Term Investments
Other Short-Term Assets $47.66M $48.20M
YoY Change -11.78% -9.64%
Inventory
Prepaid Expenses
Receivables $163.7M $167.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $579.3M $578.7M
YoY Change 57.76% 78.32%
LONG-TERM ASSETS
Property, Plant & Equipment $604.4M $577.2M
YoY Change 6.79% 11.96%
Goodwill $679.5M $676.4M
YoY Change 0.27% 17.61%
Intangibles $90.62M $91.83M
YoY Change -14.7% 3.6%
Long-Term Investments $92.71M $94.50M
YoY Change 60.14% 81.66%
Other Assets $47.98M $56.30M
YoY Change -13.48% -6.17%
Total Long-Term Assets $2.111B $2.109B
YoY Change 2.15% 9.71%
TOTAL ASSETS
Total Short-Term Assets $579.3M $578.7M
Total Long-Term Assets $2.111B $2.109B
Total Assets $2.690B $2.688B
YoY Change 10.54% 19.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $122.9M $326.5M
YoY Change 19.68% 931.14%
Accrued Expenses $124.1M $59.30M
YoY Change -31.68% -11.32%
Deferred Revenue $4.647M $5.176M
YoY Change 15.57%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $17.97M $16.04M
YoY Change 44.95% 48.7%
Total Short-Term Liabilities $437.5M $407.1M
YoY Change -6.27% -0.52%
LONG-TERM LIABILITIES
Long-Term Debt $812.1M $844.3M
YoY Change -3.25% 14.79%
Other Long-Term Liabilities $6.721M $9.805M
YoY Change -70.8% -47.77%
Total Long-Term Liabilities $818.8M $854.1M
YoY Change -5.05% 13.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $437.5M $407.1M
Total Long-Term Liabilities $818.8M $854.1M
Total Liabilities $1.877B $1.892B
YoY Change -3.36% 5.76%
SHAREHOLDERS EQUITY
Retained Earnings -$79.58M -$77.72M
YoY Change -3.68% -4.86%
Common Stock $7.000K $7.000K
YoY Change 16.67% 40.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $630.7M $618.9M
YoY Change
Total Liabilities & Shareholders Equity $2.690B $2.688B
YoY Change 10.54% 19.62%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.860M $17.54M
YoY Change 98.93% 2525.75%
Depreciation, Depletion And Amortization $32.69M $32.21M
YoY Change 6.58% 10.2%
Cash From Operating Activities $88.92M $31.20M
YoY Change 65.75% 15.44%
INVESTING ACTIVITIES
Capital Expenditures $40.06M $41.10M
YoY Change 92.19% -258.4%
Acquisitions
YoY Change
Other Investing Activities -$8.584M -$5.800M
YoY Change -91.67% 421.11%
Cash From Investing Activities -$48.65M -$46.90M
YoY Change -60.74% 73.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -35.47M -3.200M
YoY Change -134.24% -3.41%
NET CHANGE
Cash From Operating Activities 88.92M 31.20M
Cash From Investing Activities -48.65M -46.90M
Cash From Financing Activities -35.47M -3.200M
Net Change In Cash 4.807M -18.90M
YoY Change -85.58% 464.68%
FREE CASH FLOW
Cash From Operating Activities $88.92M $31.20M
Capital Expenditures $40.06M $41.10M
Free Cash Flow $48.86M -$9.900M
YoY Change 48.95% -118.69%

Facts In Submission

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CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
668000 usd
us-gaap Net Income Loss
NetIncomeLoss
4904000 usd
us-gaap Net Income Loss
NetIncomeLoss
11585000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67793404 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56744419 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62113707 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56041017 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67793404 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56744419 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62113707 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56041017 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
217238 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
179268 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
202082 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
141492 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
799176 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
728074 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
905462 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
853908 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68809818 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57651761 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63221251 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57036417 shares
CY2023Q3 rdnt Adjustment To Net Income Attributable To Assumed Share Settlements
AdjustmentToNetIncomeAttributableToAssumedShareSettlements
0 usd
CY2022Q3 rdnt Adjustment To Net Income Attributable To Assumed Share Settlements
AdjustmentToNetIncomeAttributableToAssumedShareSettlements
0 usd
rdnt Adjustment To Net Income Attributable To Assumed Share Settlements
AdjustmentToNetIncomeAttributableToAssumedShareSettlements
0 usd
rdnt Adjustment To Net Income Attributable To Assumed Share Settlements
AdjustmentToNetIncomeAttributableToAssumedShareSettlements
-586000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
17540000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
668000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4904000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
10999000 usd
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2023Q3 rdnt Fair Value Change For Contingently Available Shares Excluded From Computation Of Diluted
FairValueChangeForContingentlyAvailableSharesExcludedFromComputationOfDiluted
0 usd
CY2022Q3 rdnt Fair Value Change For Contingently Available Shares Excluded From Computation Of Diluted
FairValueChangeForContingentlyAvailableSharesExcludedFromComputationOfDiluted
278000 usd
rdnt Fair Value Change For Contingently Available Shares Excluded From Computation Of Diluted
FairValueChangeForContingentlyAvailableSharesExcludedFromComputationOfDiluted
0 usd
rdnt Fair Value Change For Contingently Available Shares Excluded From Computation Of Diluted
FairValueChangeForContingentlyAvailableSharesExcludedFromComputationOfDiluted
0 usd
CY2023Q3 rdnt Equity Securities Without Readily Determinable Fair Value Number Of Securities
EquitySecuritiesWithoutReadilyDeterminableFairValueNumberOfSecurities
3 security
CY2023Q3 rdnt Numberof Unconsolidated Joint Ventures
NumberofUnconsolidatedJointVentures
13 jointventure
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
57893000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3935000 usd
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
8540000 usd
rdnt Equity Contributions In Joint Ventures
EquityContributionsInJointVentures
41184000 usd
CY2023Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
94472000 usd
CY2023Q3 rdnt Management Service Fees
ManagementServiceFees
3900000 usd
CY2022Q3 rdnt Management Service Fees
ManagementServiceFees
6100000 usd
rdnt Management Service Fees
ManagementServiceFees
12200000 usd
rdnt Management Service Fees
ManagementServiceFees
17200000 usd
CY2023Q3 us-gaap Revenues
Revenues
401968000 usd
CY2022Q3 us-gaap Revenues
Revenues
350044000 usd
us-gaap Revenues
Revenues
1196247000 usd
us-gaap Revenues
Revenues
1046185000 usd
CY2023Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
341635000 usd
CY2022Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
313943000 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1038647000 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
934757000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
32210000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29229000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
95705000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
85209000 usd
CY2023Q3 rdnt Gain Loss On Contribution Into Joint Venture
GainLossOnContributionIntoJointVenture
16808000 usd
CY2022Q3 rdnt Gain Loss On Contribution Into Joint Venture
GainLossOnContributionIntoJointVenture
0 usd
rdnt Gain Loss On Contribution Into Joint Venture
GainLossOnContributionIntoJointVenture
16808000 usd
rdnt Gain Loss On Contribution Into Joint Venture
GainLossOnContributionIntoJointVenture
0 usd
CY2023Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-527000 usd
CY2022Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
247000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1183000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-962000 usd
CY2023Q3 us-gaap Severance Costs1
SeveranceCosts1
1153000 usd
CY2022Q3 us-gaap Severance Costs1
SeveranceCosts1
195000 usd
us-gaap Severance Costs1
SeveranceCosts1
3157000 usd
us-gaap Severance Costs1
SeveranceCosts1
496000 usd
CY2023Q3 rdnt Operating Income Loss Excluding Relief Funding
OperatingIncomeLossExcludingReliefFunding
43251000 usd
CY2022Q3 rdnt Operating Income Loss Excluding Relief Funding
OperatingIncomeLossExcludingReliefFunding
6924000 usd
rdnt Operating Income Loss Excluding Relief Funding
OperatingIncomeLossExcludingReliefFunding
74363000 usd
rdnt Operating Income Loss Excluding Relief Funding
OperatingIncomeLossExcludingReliefFunding
24761000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
860345000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
851474000 usd
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
16043000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
12400000 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
844302000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
839074000 usd
CY2023Q3 rdnt Share Based Compensation Arrangement By Share Based Payment Award Number Of Plans
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPlans
1 incentiveplan
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
20100000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
678914 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.72
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
261220 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
18.64
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
8424 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.46
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
931710 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.61
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y5M19D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11056189000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
673108 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.76
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P5Y6M3D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9215097000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
20100000 shares
CY2023Q3 us-gaap Deferred Compensation Arrangement With Individual Common Stock Reserved For Future Issuance
DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance
4058012 shares
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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rdnt-20230930_lab.xml Edgar Link unprocessable
rdnt-20230930_cal.xml Edgar Link unprocessable
0001628280-23-038345-index-headers.html Edgar Link pending
0001628280-23-038345-index.html Edgar Link pending
0001628280-23-038345.txt Edgar Link pending
0001628280-23-038345-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
q32023exhibit311.htm Edgar Link pending
q32023exhibit312.htm Edgar Link pending
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rdnt-20230930.htm Edgar Link pending
rdnt-20230930.xsd Edgar Link pending
rdnt-20230930_def.xml Edgar Link unprocessable
report.css Edgar Link pending
Show.js Edgar Link pending
rdnt-20230930_pre.xml Edgar Link unprocessable
rdnt-20230930_htm.xml Edgar Link completed