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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUE        
Total service revenue $ 332,690 $ 291,776 $ 981,928 $ 763,905
Provider relief funding 0 221 6,291 25,696
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 272,756 246,462 838,609 708,095
Depreciation and amortization 24,606 21,247 71,272 64,536
Loss (gain) on sale and disposal of equipment and other 2,595 342 (279) 543
Severance costs 163 571 715 1,647
Total operating expenses 300,120 268,622 910,317 774,821
INCOME FROM OPERATIONS 32,570 23,375 77,902 14,780
OTHER INCOME AND EXPENSES        
Interest expense 12,032 11,061 37,028 33,443
Equity in earnings of joint ventures (2,853) (2,276) (8,259) (5,176)
Non-cash change in fair value of interest rate hedge (2,870) 679 (14,149) 4,523
Debt restructuring and extinguishment expenses 0 0 6,044 0
Other (income) expenses (167) (139) 1,699 (247)
Total other expenses 6,142 9,325 22,363 32,543
INCOME (LOSS) BEFORE INCOME TAXES 26,428 14,050 55,539 (17,763)
(Provision for) benefit from income taxes (5,284) (3,825) (12,534) 5,029
NET INCOME (LOSS) 21,144 10,225 43,005 (12,734)
Net income attributable to noncontrolling interests 4,924 4,069 14,455 8,063
NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 16,220 $ 6,156 $ 28,550 $ (20,797)
BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.31 $ 0.12 $ 0.55 $ (0.41)
DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.30 $ 0.12 $ 0.54 $ (0.41)
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 52,810,644 51,358,603 52,323,360 50,746,380
Diluted (in shares) 53,817,840 51,955,815 53,249,698 50,746,380
Service fee revenue        
REVENUE        
Total service revenue $ 295,407 $ 256,730 $ 870,479 $ 660,760
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 37,283 $ 35,046 $ 111,449 $ 103,145