RadNet’s Q4 Revenue Up 14.8% to $547.7M, Buys Gleamer for €230M
RadNet reported Q4 revenue of $547.7 million, up 14.8% year-over-year, with adjusted EBITDA rising 16.9% to $87.7 million and digital health revenue jumping 48.2% to $27.9 million. The company agreed to acquire AI firm Gleamer in a €230 million deal and forecast 17%–19% imaging and 46%–56% digital health growth in 2026.
1. Q4 Financial Results
RadNet delivered $547.7 million in fourth-quarter revenue, a 14.8% increase year-over-year, and achieved adjusted EBITDA of $87.7 million, up 16.9%. Adjusted EPS reached $0.23 versus a $0.20 consensus, while unadjusted results reflected a $0.6 million net loss due to one-time items.
2. Digital Health Performance
Digital Health revenue, including intercompany transactions, climbed 48.2% to $27.9 million, with segment adjusted EBITDA rising to $4.9 million from $4.5 million. Growth reflects ongoing platform scaling and increased adoption of the company’s automation tools in advanced imaging workflows.
3. 2026 Growth Outlook
RadNet guided for Imaging Center revenue growth of 17%–19%, adjusted EBITDA expansion of 18%–22%, and free cash flow growth of 29%–41% over 2025 levels. Digital Health revenue is expected to increase 46%–56%, supported by expanded AI offerings and new center openings.
4. Gleamer Acquisition Boosts AI Strategy
RadNet will acquire Paris-based AI developer Gleamer for up to €230 million in cash, adding over 130 employees and more than 700 contracts across 44 countries. Gleamer’s ARR grew over 90% annually to a projected $30 million in 2026, enhancing automation in high-volume modalities and driving productivity gains by Q3 2026.