RadNet Q4 Revenue Up 14.8% to $547.7M, Buys Gleamer for €230M
RadNet reported Q4 revenue up 14.8% to $547.7 million with adjusted EBITDA rising 16.9% to $87.7 million and EPS of $0.23. It agreed to acquire AI firm Gleamer for up to €230 million to boost digital health ARR to $30 million and guided 17–19% imaging revenue growth in 2026.
1. Q4 Financial Highlights
RadNet delivered record fourth-quarter results with revenue of $547.7 million, up 14.8% year-over-year, and adjusted EBITDA of $87.7 million, a 16.9% increase. Advanced imaging volumes climbed 14.1% and Digital Health revenue surged 48.2% to $27.9 million, while adjusted EPS reached $0.23 per share.
2. 2026 Growth Outlook
Management guided 2026 Imaging Center revenue growth of 17% to 19%, adjusted EBITDA growth of 18% to 22% and free cash flow growth of 29% to 41%. The company plans to expand capacity with new centers, tuck-in acquisitions and roll out DeepHealth automation tools to enhance throughput.
3. Strategic Gleamer Acquisition
RadNet agreed to pay up to €230 million in cash to acquire Gleamer, adding a cloud-first AI platform with over 700 customer contracts across 44 countries. Gleamer’s ARR grew at a compound rate above 90% from 2022 to 2025 and is expected to reach $30 million in 2026, with productivity and cost benefits materializing by Q3 2026.