RadNet Q1 Earnings Exceed Expectations, Revises FY22 Guidance Levels Upwards - RadNet (NASDAQ:RDNT)

RadNet Inc RDNT reports Q1 FY22 revenue of $341.8 million, +8.4% Y/Y, beating the consensus of $330.41 million.
Revenue increased 8.2%, excluding Artificial Intelligence reporting segment.
Aggregate procedural volumes increased 8.8%; Same-center procedural volumes increased 6.6% Y/Y.
RadNet's adjusted EBITDA grew 4.1% Y/Y to $41.7 million, excluding losses from the AI reporting segment and Provider Relieve Funding.
The company posted an adjusted EPS loss of $(0.15), a turnaround from an EPS of 0.05 a year ago.
Dr. Howard Berger, president & CEO, commented, "Despite being impacted in January by the omicron variant of COVID-19, we produced the highest first-quarter revenue and adjusted EBITDA from our imaging center operations in our company's history."
Guidance: RadNet expects FY22 sales of $1.36 billion - $1.41 billion, up from previous guidance of $1.35 billion - $1.4 billion, versus the consensus of $1.38 billion.
It expects an adjusted EBITDA of $208 million - $218 million, compared to earlier guidance of $205 million - $215 million.
Price Action: RDNT shares closed 4.86% lower at $19.00 on Friday.