RadNet Reports Third Quarter Financial Results with Record Quarterly Revenue and Adjusted EBITDA (1) and Revises Upwards 2024 Financial Guidance Ranges Total Company Revenue increased 14.7% to $461.

RadNet Reports Third Quarter Financial Results with Record Quarterly

Revenue and Adjusted EBITDA(1) and Revises Upwards 2024 Financial Guidance Ranges

LOS ANGELES, California, November 10, 2024

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

outpatient diagnostic imaging services through a network of 399 owned and operated outpatient imaging centers, today reported financial

results for its third quarter of 2024.

Dr. Howard Berger, President and Chief Executive

Officer of RadNet, commented, "We continue to demonstrate strong growth and record results in each of our Imaging Center and Digital

Health reportable operating segments. Total Company Revenue grew 14.7% as compared with last year's third quarter to a record $461.1

million. The Digital Health segment Revenue of $16.4 million increased 34.3% from last year's same quarter. The strong growth in

Digital Health was, in part, driven by the AI businesses, whose Revenue increased 75.8% as compared with last year's third quarter,

mainly from the continuing success of the rollout of the Enhanced Breast Cancer Detection (EBCD) DeepHealth AI-powered screening mammography

"Despite continued inflation in staffing

costs, improved reimbursement from commercial and capitated payors, strong demand for advanced imaging modalities, the growth of the Digital

Health businesses and effective cost controls resulted in an increase to Adjusted EBITDA(1) margins. Total Company Adjusted

EBITDA(1) margin of 16.0% during this third quarter increased by 156 basis points over last year's third quarter."

"Given the positive trends we continue to

experience in virtually all aspects of our business and the strong financial performance of the third quarter, we are revising upwards

certain guidance levels in anticipation of financial results that we believe will exceed both our original expectations and the adjustments

we made to the guidance ranges upon releasing our first and second quarter 2024 results. We have increased 2024 guidance ranges for Revenue,

Adjusted EBITDA(1) and Free Cash Flow(2)," added Dr. Berger.

Dr. Berger continued, "In response to continued

high demand for our services and notable patient backlogs in many of RadNet's local markets, we continue to expand capacity through

the development and construction of new imaging centers. Since the start of the year, we have opened five new centers, and we anticipate

opening an additional three centers before year end. Furthermore, we have 15 centers in various stages of construction and development

which we intend to open during 2025."

"We remain on pace for the commercial launch

of DeepHealth OS at the RSNA convention this year taking place December 1st through 4th in Chicago. At our DeepHealth

booth, we will be demonstrating the capabilities of the DeepHealth OS integrated end-to-end workflow solutions as well as our clinical

AI tools. Last week, we announced our first customer for the DeepHealth OS software platform, and we are eager to introduce our DeepHealth

solutions to prospective customers and partners at the convention, explained Dr. Berger.

"RadNet's balance sheet continues

to strengthen as our focus remains on driving same-center revenue performance and effective cost management. At quarter end, we had a

cash balance of $748.9 million, and our leverage ratio of Net Debt to Adjusted EBITDA(1) was at a record low, slightly below

1.0," concluded Dr. Berger.

Third Quarter Financial Results

For the third quarter of 2024, RadNet reported

Total Company Revenue of $461.1 million and Adjusted EBITDA(1) of $73.7 million. Revenue increased $59.2 million (or 14.7%)

and Adjusted EBITDA(1) increased $15.7 million (or 27.2%) as compared with the third quarter of 2023.

For the third quarter of 2024, RadNet reported

Digital Health Revenue (inclusive of intersegment revenue) of $16.4 million and Adjusted EBITDA(1) of $3.2 million. Revenue

increased $4.2 million (or 34.3%) and Adjusted EBITDA(1) increased $950,000 (or 41.7%) as compared with the third quarter of

2023. Digital Health Revenue and Adjusted EBITDA(1) growth was due in part from a $2.2 million (or 75.8%) increase in AI Revenue,

which climbed to $5.1 million during the third quarter of 2024.

Unadjusted for unusual or one-time items impacting

the third quarter, Total Company Net Income for the third quarter of 2024 was $3.2 million as compared with a Total Company Net Income

of $17.5 million for the third quarter of 2023. Fully diluted Net Income Per Share for the third quarter of

2024 was $0.04, compared with a fully diluted Net Income per share of $0.25 in the third quarter of 2023, based upon a weighted average

number of diluted shares outstanding of 75.2 million shares in 2024 and 68.8 million shares in 2023.

of unusual or one-time items impacting the third quarter including: $8.1 million of non-cash loss from interest rate swaps; $304,000

in severance expense related to cost-savings initiatives; $1.3 million expense related to leases for de novo facilities under construction

that have yet to open their operations; $3.3 million of non-capitalized research and development expenses related to the DeepHealth Cloud

OS and generative AI; $417,000 of acquisition transaction costs; and $147,000 loss in conjunction with extinguishment of debt and related

expenses. Adjusting for the above items, Total Company Adjusted Earnings(3) was $13.3 million and diluted Adjusted Earnings

Per Share(3) was $0.18 during the third quarter of 2024. This compares with Total Company Adjusted Earnings(3) of

$8.8 million and diluted Adjusted Earnings Per Share(3) of $0.13 during the third quarter of 2023.

For the third quarter of 2024, as compared with

the prior year's third quarter, MRI volume increased 14.6%, CT volume increased 15.5% and PET/CT volume increased 23.8%. Overall

volume, taking into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other exams, increased 9.0% over the

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

of 2024 and 2023, MRI volume increased 9.9%, CT volume increased 9.8% and PET/CT volume increased 16.8%. Overall same-center volume, taking

into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other exams, increased 5.5% over the prior year's

Nine Month Financial Results

For the first nine months of 2024, RadNet reported

Total Company Revenue of $1,352.6 million and Adjusted EBITDA(1) of $204.5 million. Revenue increased $156.3 million (or 13.1%)

and Adjusted EBITDA(1) increased $37.9 million (or 22.8%) as compared with the first nine months of 2023.

For the first nine months of 2024, RadNet reported

Digital Health Revenue (inclusive of intersegment revenue) of $46.9 million and Adjusted EBITDA(1) of $10.0 million. Revenue

increased $12.0 million (or 34.4%) and Adjusted EBITDA(1) increased $6.3 million (or 171.6%) as compared with the first nine

months of 2023. Digital Health Revenue and Adjusted EBITDA(1) growth was due in part to a $8.0 million (or 107.8%) increase

in AI Revenue, which climbed to $15.4 million during the nine month period of 2024.

Unadjusted for one-time or unusual items, Total

Company Net Loss for the first nine months of 2024 was $2.6 million as compared with a Total Company Net Income of $4.9 million for the

first nine months of 2023. Fully diluted Net Loss Per Share for the nine month period of 2024 was $(0.04),

compared with a Net Income per share of $0.08 in the nine month period of 2023, based upon a weighted average number of diluted shares

outstanding of 72.6 million shares in 2024 and 63.2 million shares in 2023.

2024 Guidance Update

RadNet amends its previously announced guidance

Imaging Center Segment

Digital Health Segment

the consistent outperformance of the first three quarters of this year relative to our projections, we have increased guidance ranges

of our core Imaging Center reporting segment for Revenue and Adjusted EBITDA(1).

Furthermore, despite increasing the Capital Expenditures guidance range by $10 million, we are expecting Free Cash Flow(2)

to be higher for the year. This is the result of the projected increase in Adjusted EBITDA(1) and lower Cash Interest Expense.

With respect to the Digital Health reportable segment, we remain on track to meet our original guidance levels for Revenue, Adjusted

EBITDA(1) and Free Cash Flow(2)."

Conference Call for Tomorrow

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 third quarter

2024 results on Monday, November 11th, 2024 at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time).

Conference Call Details:

Date: Monday, November 11, 2024

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 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=1691984&tp_key=8cbf05cc88

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