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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE        
Total service revenue $ 354,375 $ 333,918 $ 696,141 $ 649,237
Provider relief funding 0 43 0 6,291
OPERATING EXPENSES        
Cost of operations, excluding depreciation and amortization 305,775 283,571 620,813 565,851
Depreciation and amortization 28,862 24,011 55,980 46,667
Loss (gain) on sale and disposal of equipment and other 81 (1,567) 1,209 (2,874)
Severance costs 99 268 300 551
Total operating expenses 334,817 306,283 678,302 610,195
INCOME FROM OPERATIONS 19,558 27,678 17,839 45,333
OTHER INCOME AND EXPENSES        
Interest expense 11,385 12,171 22,978 24,997
Equity in earnings of joint ventures (2,748) (3,121) (5,266) (5,406)
Non-cash change in fair value of interest rate swaps (6,306) (35) (27,125) (11,280)
Debt restructuring and extinguishment expenses 0 6,044 0 6,044
Other (income) expenses (7) 1,658 158 1,867
Total other expenses (income) 2,324 16,717 (9,255) 16,222
INCOME BEFORE INCOME TAXES 17,234 10,961 27,094 29,111
Provision for income taxes (3,403) (2,874) (4,900) (7,249)
NET INCOME 13,831 8,087 22,194 21,862
Net income attributable to noncontrolling interests 5,926 5,214 11,276 9,531
NET INCOME ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 7,905 $ 2,873 $ 10,918 $ 12,331
BASIC NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.14 $ 0.05 $ 0.20 $ 0.24
DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS (in dollars per share) $ 0.13 $ 0.05 $ 0.18 $ 0.23
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 56,059,824 52,238,709 55,683,335 52,004,653
Diluted (in shares) 56,966,548 53,133,091 56,666,290 52,890,561
Service fee revenue        
REVENUE        
Total service revenue $ 316,501 $ 295,494 $ 619,776 $ 575,071
Revenue under capitation arrangements        
REVENUE        
Total service revenue $ 37,874 $ 38,424 $ 76,365 $ 74,166