RadNet Reports 14.8% Q4 Revenue Gain, Acquires Gleamer for €230M
RadNet reported Q4 revenue of $547.7 million, up 14.8% year-over-year, and adjusted EBITDA of $87.7 million, rising 16.9%. The company agreed to acquire AI firm Gleamer for up to €230 million and guided 2026 Imaging Center revenue growth of 17–19% and Digital Health revenue growth of 46–56%.
1. Q4 Financial Performance
RadNet reported fourth-quarter revenue of $547.7 million, up 14.8% year-over-year, and adjusted EBITDA of $87.7 million, rising 16.9%. Advanced imaging procedures climbed 14.1%, digital health revenue jumped 48.2% to $27.9 million, while net unadjusted loss was $0.6 million.
2. Gleamer Acquisition Strengthens AI Platform
RadNet agreed to acquire Paris-based AI developer Gleamer for up to €230 million in cash, including a post-closing milestone. Gleamer, with over 130 employees and 700 contracts across 44 countries, has recurring revenue growing above 90% CAGR and is forecast to reach about $30 million in ARR in 2026.
3. 2026 Growth Outlook
For 2026, RadNet targets imaging center revenue growth of 17–19%, adjusted EBITDA expansion of 18–22% and free cash flow growth of 29–41%. Digital health revenue is expected to climb 46–56% as the company expands centers, pursues tuck-in deals and deploys DeepHealth automation tools to boost throughput.