RadNet Reports First Quarter Financial Results and Revises Upwards 2025 Financial Guidance Ranges for Revenue and Adjusted EBITDA (1) First quarter Revenue was negatively impacted by approximately $

RadNet Reports First Quarter Financial

Results and Revises Upwards 2025 Financial Guidance Ranges for Revenue and Adjusted EBITDA(1)

LOS ANGELES, California, May 12, 2025 -

RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging

services through a network of 401 owned and operated outpatient imaging centers, today reported financial results for its first quarter

Dr. Howard Berger, President and Chief Executive

Officer of RadNet, commented, "In February, in conjunction with releasing 2024 fourth quarter results and 2025 guidance ranges,

we announced that the first quarter of 2025 was going to be negatively impacted by the Southern California wildfires and the severe winter

weather conditions in RadNet's northeast and Houston markets. We report that the impact from these extraordinary events were as

previously estimated. Our business significantly recovered in March and has continued to demonstrate strong procedural volumes and Revenue

through April and early May."

"Despite the challenges from the severe

weather and Southern California fires during the first quarter, we advanced a number of important initiatives. We continued to implement

the TechLiveTM remote scanning capability and have approximately 255 of our MRIs enabled, and we are beginning to test this

technology on ultrasound systems. The Enhanced Breast Cancer Detection (EBCD) AI-powered breast cancer diagnostic program is now experiencing

a blended adoption rate of over 40% nationwide and continues to find more cancer that otherwise would go undetected, while also making

our radiologists more productive and accurate. In addition, conversations are progressing with commercial and capitated payors about adding

reimbursement for EBCD, and we remain confident that we will see adoption by some third-party payors by year end. Furthermore, there has

been gradual improvement in filling open positions, including technologists, decreasing our reliance on outside staffing agencies. Lastly,

the strong growth in advanced imaging has continued in the first quarter despite challenges brought by the winter weather conditions and

Southern California fires. Advanced imaging, as a percentage of total procedural volume, grew 1.26% relative to last year's first

quarter. Most notably, PET/CT procedural volume grew in aggregate almost 23% from last year's same quarter, primarily the result

of continued growth of prostate and brain imaging procedures. The cumulative strength of these trends has provided us the confidence to

increase 2025 guidance ranges for Revenue and Adjusted EBITDA(1)," added Dr. Berger.

Dr. Berger continued, "On April 15, RadNet

announced the signing of a definitive agreement, subject to customary closing conditions, to acquire iCAD. The acquisition will unite

complementary leading AI-powered cancer detection and workflow solutions focused on improving the accuracy and early detection of breast

cancer. Upon completion of the acquisition, iCAD will contribute to our Digital Health division over 1,500 healthcare provider locations,

facilitating over eight million annual mammograms in over 50 countries. This business combination is expected to accelerate our global

leadership in and commitment to AI-powered breast cancer screening, and positions us to further advance population health."

"RadNet's balance sheet continues

to be among the strongest in the diagnostic imaging industry. At quarter end, we had a cash balance of $717 million and our leverage ratio

of Net Debt to Adjusted EBITDA(1) was slightly above 1.0x. Our operating capabilities, scale and digital health tools and initiatives

give us a unique perspective in identifying and recognizing value in potential strategic targets. We are encouraged with the pipeline

of opportunities we are seeing and are confident we will be able to invest RadNet's capital in value-creating ways," concluded

For the first quarter of 2025, RadNet reported

Total Company Revenue of $471.4 million and Adjusted EBITDA(1) of $46.4 million. Revenue increased $39.7 million (or 9.2%)

and Adjusted EBITDA(1) decreased $12.1 million (or 20.6%) as compared with the first quarter of 2024.

For the first quarter of 2025, RadNet reported

Digital Health Revenue (inclusive of intersegment revenue) of $19.2 million and Adjusted EBITDA(1) of $3.7 million. Revenue

increased $4.6 million (or 31.1%) and Adjusted EBITDA(1) increased $0.2 million (or 5.4%) as compared with the first quarter

Unadjusted for unusual or one-time items impacting

the first quarter of 2025, Total Company Net Loss for the first quarter of 2025 was $37.9 million as compared with a Total Company Net

Loss of $2.8 million for the first quarter of 2024. Net Loss Per Share for the first quarter of 2025 was $(0.51), compared with a Net

Loss per share of $(0.04) in the first quarter of 2024, based upon a weighted average number of diluted shares outstanding of 74.4 million

shares in 2025 and 69.3 million shares in 2024.

There were a number of unusual or one-time items

impacting the first quarter including: $2.1 million of non-cash gain from interest rate swaps; $1.3 million expense related to leases

for our de novo facilities under construction that have yet to open their operations; $672,000 of acquisition transaction costs; $5.4

million of lease abandonment charges; and $3.6 million of non-capitalized research and development expenses with respect to our DeepHealth

Cloud OS and generative AI. Adjusting for the above items, Total Company Adjusted Loss(3) was $26.2 million and diluted Adjusted

Loss Per Share(3) was $(0.35) for the first quarter of 2025. This compares with Total Company Adjusted Earnings(3)

of $5.0 million and diluted Adjusted Earnings Per Share(3) of $0.07 during the first quarter of 2024.

For the first quarter of 2025, as compared with

the prior year's first quarter, MRI volume increased 8.4%, CT volume increased 8.3% and PET/CT volume increased 22.9%. Overall volume,

taking into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other exams, increased 3.6% over the prior

year's first quarter. On a same-center basis, including only those centers which were part of RadNet for both the first quarters

of 2025 and 2024, MRI volume increased 3.4%, CT volume increased 3.0% and PET/CT volume increased 12.2%. Overall same-center volume, taking

into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other exams, decreased 0.3% over the prior year's

2025 Revised Guidance

RadNet amends its previously announced guidance

Imaging Center Segment

Digital Health Segment

Financial Results Conference Call

Dr. Howard Berger, President and Chief Executive

Officer, and Mark Stolper, Executive Vice President and Chief Financial Officer, will host a conference call to discuss its first quarter

2025 results on Monday, May 12th, 2025 at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time).

Conference Call Details:

Date: Monday, May 12, 2025

Time: 10:30 a.m. Eastern Time

Dial In-Number: 844-826-3035

International Dial-In Number: 412-317-5195

that participants dial in approximately 5 to 10 minutes prior to the start of the 10:30 a.m. call. There will also be simultaneous and

archived webcasts available at https://viavid.webcasts.com/starthere.jsp?ei=1717619&tp_key=f0980d090d

or http://www.radnet.com under the "Investors" menu section and "News Releases"

sub-menu of the website. An archived replay of the call will also be available and can be accessed by dialing 844-512-2921 from the U.S.,

or 412-317-6671 for international callers, and using the passcode 10199390.

RadNet, Inc. is a leading national provider of

freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue.

RadNet has a network of 401 owned and/or operated outpatient imaging centers. RadNet's markets include Arizona, California, Delaware,

Florida, Maryland, New Jersey, New York and Texas. In addition, RadNet provides radiology information technology and artificial intelligence

solutions marketed under the DeepHealth brand, teleradiology professional services and other related products and services to customers

in the diagnostic imaging industry. Together with contracted radiologists, and inclusive of full-time and per diem employees and technologists,

RadNet has a total of over 11,000 employees. For more information, visit http://www.radnet.com.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation

of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale, issuance or transfer of securities

in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities

laws of such jurisdiction. It does not constitute a prospectus or prospectus equivalent document. No offering or sale of securities shall

be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the "Securities

Act"), and otherwise in accordance with applicable law.

Important Information about the Proposed Transaction and Where

In connection with the proposed transaction between RadNet and iCAD,

Inc., on May 6, 2025, RadNet filed with the Securities and Exchange Commission ("SEC") a registration statement on Form S-4

that constitutes a prospectus of RadNet and will also include a proxy statement of iCAD. After the registration statement has been declared

effective, iCAD will mail the proxy statement/prospectus to its stockholders. The proxy statement/prospectus filed with the SEC related