hD

Balance Sheet Summary

RadNet (RDNT) annual balance sheet covering fiscal 2020 through 2025, as reported to the SEC.

  • RadNet had total assets of $3.76B and total liabilities of $2.4B as of December 31, 2025. That leaves shareholders' equity of $1.36B.
  • Total assets were up 14.4% from $3.29B in fiscal 2024.
  • Total current assets of $1.03B were 1.8 times total current liabilities of $586.76M.
  • Cash and cash equivalents were $767.22M, up 3.7% from $740.02M. That is 20.4% of total assets.
  • RadNet has an accumulated deficit of $95.44M.

Total assets have grown 16% a year on average since fiscal 2020, from $1.79B to $3.76B, rising in every year shown.

A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.

Figures in USD thousands
Dec'25Dec'24Dec'23Dec'22Dec'21Dec'20
ASSETS
CURRENT ASSETS
Cash and cash equivalents

767,215

740,020

342,570

127,834

134,606

102,018

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash and cash equivalents

767,215

740,020

342,570

127,834

134,606

102,018

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accounts receivable

200,317

185,821

163,707

166,357

135,062

129,585

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accounts receivable

200,317

185,821

163,707

166,357

135,062

129,585

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Due from affiliates

-

-

-

-

5,384

5,836

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Due from affiliates

-

-

-

-

5,384

5,836

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Prepaid expenses and other current assets

52,003

51,542

47,657

54,022

49,212

32,985

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Prepaid expenses and other current assets

52,003

51,542

47,657

54,022

49,212

32,985

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assets Held-for-sale, Not Part of Disposal Group

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assets Held-for-sale, Not Part of Disposal Group

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total current assets

1,032,127

1,019,252

579,276

367,184

324,264

270,424

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total current assets

1,032,127

1,019,252

579,276

367,184

324,264

270,424

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

PROPERTY, EQUIPMENT AND RIGHT-OF-USE ASSETS
Property and equipment, net

807,702

694,791

604,401

565,961

484,247

399,335

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property and equipment, net

807,702

694,791

604,401

565,961

484,247

399,335

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating lease right-of-use assets

690,250

639,740

596,032

603,524

584,291

483,661

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating lease right-of-use assets

690,250

639,740

596,032

603,524

584,291

483,661

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total property, equipment and right-of-use assets

1,497,952

1,334,531

1,200,433

1,169,485

1,068,538

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total property, equipment and right-of-use assets

1,497,952

1,334,531

1,200,433

1,169,485

1,068,538

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total property, equipment and right-of-use assets

1,497,952

1,334,531

1,200,433

1,169,485

1,068,538

882,996

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total property, equipment and right-of-use assets

1,497,952

1,334,531

1,200,433

1,169,485

1,068,538

882,996

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

OTHER ASSETS
Goodwill

907,663

710,663

679,463

677,665

513,820

472,879

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Goodwill

907,663

710,663

679,463

677,665

513,820

472,879

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other intangible assets

148,508

81,351

90,615

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other intangible assets

148,508

81,351

90,615

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other intangible assets

-

-

-

106,228

56,603

52,393

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other intangible assets

-

-

-

106,228

56,603

52,393

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

1,684

2,265

1,643

2,280

2,135

1,767

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

1,684

2,265

1,643

2,280

2,135

1,767

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment in joint ventures

130,340

104,057

92,710

57,893

42,229

34,528

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment in joint ventures

130,340

104,057

92,710

57,893

42,229

34,528

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax assets, net

-

-

-

-

14,853

34,687

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax assets, net

-

-

-

-

14,853

34,687

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deposits and other

40,289

34,571

46,333

53,172

36,032

36,983

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deposits and other

40,289

34,571

46,333

53,172

36,032

36,983

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total assets

3,758,563

3,286,690

2,690,473

2,433,907

2,058,474

1,786,657

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total assets

3,758,563

3,286,690

2,690,473

2,433,907

2,058,474

1,786,657

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable, accrued expenses and other

422,029

351,464

342,940

369,595

263,937

236,684

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accounts payable, accrued expenses and other

422,029

351,464

342,940

369,595

263,937

236,684

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Due to affiliates

-

-

-

-

23,530

14,010

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Due to affiliates

-

-

-

-

23,530

14,010

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred revenue

7,272

3,288

4,647

4,021

10,701

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred revenue

7,272

3,288

4,647

4,021

10,701

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred revenue

-

-

-

-

-

39,257

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred revenue

-

-

-

-

-

39,257

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current portion of deferred rent

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current portion of deferred rent

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current finance lease liability

-

-

-

-

-

2,578

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current finance lease liability

-

-

-

-

-

2,578

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current operating lease liability

61,934

56,618

55,981

57,607

65,452

65,794

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current operating lease liability

61,934

56,618

55,981

57,607

65,452

65,794

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current portion of notes payable

25,424

24,692

17,974

12,400

11,164

39,791

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current portion of notes payable

25,424

24,692

17,974

12,400

11,164

39,791

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current portion of obligations under capital leases

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Current portion of obligations under capital leases

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total current liabilities

586,763

479,712

437,452

466,723

374,784

398,114

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total current liabilities

586,763

479,712

437,452

466,723

374,784

398,114

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

LONG-TERM LIABILITIES
Deferred rent, net of current portion

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred rent, net of current portion

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Long-term finance lease liability

-

-

-

-

-

743

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Long-term finance lease liability

-

-

-

-

-

743

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Long-term operating lease liability

707,001

655,979

605,097

604,117

577,675

463,096

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Long-term operating lease liability

707,001

655,979

605,097

604,117

577,675

463,096

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax liabilities, net

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax liabilities, net

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes payable, net of current portion

1,064,495

991,574

812,068

839,344

743,498

612,913

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes payable, net of current portion

1,064,495

991,574

812,068

839,344

743,498

612,913

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax liability, net

21,903

22,230

15,776

9,256

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax liability, net

21,903

22,230

15,776

9,256

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Obligations under capital lease, net of current portion

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Obligations under capital lease, net of current portion

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other non-current liabilities

22,515

3,785

6,721

23,015

16,360

53,488

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other non-current liabilities

22,515

3,785

6,721

23,015

16,360

53,488

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total liabilities

2,402,677

2,153,280

1,877,114

1,942,455

1,712,317

1,528,354

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total liabilities

2,402,677

2,153,280

1,877,114

1,942,455

1,712,317

1,528,354

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

COMMITMENTS AND CONTINGENCIES

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

COMMITMENTS AND CONTINGENCIES

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

EQUITY
Common stock - $0.0001 par value, 200,000,000 shares authorized; 78,646,805 and 77,399,615 shares issued and outstanding at JuneĀ 30, 2026 and DecemberĀ 31, 2025, respectively

8

7

7

6

5

5

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Common stock - $0.0001 par value, 200,000,000 shares authorized; 78,646,805 and 77,399,615 shares issued and outstanding at JuneĀ 30, 2026 and DecemberĀ 31, 2025, respectively

8

7

7

6

5

5

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Additional paid-in-capital

1,180,434

988,147

722,750

436,288

342,592

307,788

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Additional paid-in-capital

1,180,434

988,147

722,750

436,288

342,592

307,788

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accumulated other comprehensive (loss) income

4,885

-9,061

-12,484

-20,677

-20,421

-24,051

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accumulated other comprehensive (loss) income

4,885

-9,061

-12,484

-20,677

-20,421

-24,051

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accumulated deficit

-95,437

-76,785

-79,578

-82,622

-93,272

-117,999

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accumulated deficit

-95,437

-76,785

-79,578

-82,622

-93,272

-117,999

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total RadNet, Inc.'s Stockholders' equity:

1,089,890

902,308

630,695

332,995

228,904

165,743

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total RadNet, Inc.'s Stockholders' equity:

1,089,890

902,308

630,695

332,995

228,904

165,743

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Noncontrolling interests

265,996

231,102

182,664

158,457

117,253

92,560

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Noncontrolling interests

265,996

231,102

182,664

158,457

117,253

92,560

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total equity

1,355,886

1,133,410

813,359

491,452

346,157

258,303

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total equity

1,355,886

1,133,410

813,359

491,452

346,157

258,303

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total liabilities and equity

3,758,563

3,286,690

2,690,473

2,433,907

2,058,474

1,786,657

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total liabilities and equity

3,758,563

3,286,690

2,690,473

2,433,907

2,058,474

1,786,657

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Affiliates
Due from affiliates

12,592

41,869

25,342

18,971

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Due from affiliates

12,592

41,869

25,342

18,971

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Due to affiliates

70,104

43,650

15,910

23,100

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Due to affiliates

70,104

43,650

15,910

23,100

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx