RadNet, Inc.

Good morning, and welcome to the RadNet, Inc. Second Quarter 2026 Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Mark Stolper, Executive Vice President and Chief Financial Officer. Please go ahead.

Thank you. Good morning, everyone, and thank you for joining Dr. Howard Berger and me today to discuss Radnett's second quarter 2026 financial results. On this call, we have also invited Case Westdorp, President and CEO of Digital Health, and Sean Soka, Chief Operating and Technology Officer of Digital Health, who will share additional information about the progress of the Digital Health operating segment. Before we begin today, we'd like to remind everyone of the Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Specifically, statements concerning anticipated future financial and operating performance, Radness' ability to continue to grow the business by generating patient referrals and contracts with radiology practices, recruiting and retaining technologists, receiving third-party reimbursement for diagnostic imaging services, Successfully integrating acquired operations, generating revenue and adjusted EBITDA for the acquired operations as estimated, successfully selling and licensing digital health solutions, among others, are forward-looking statements within the meaning of the safe harbor. Forward-looking statements are based on management's current preliminary expectations and are subject to risks and uncertainties which may cause RADNET's actual results to differ materially from the statements contained herein. These risks and uncertainties include those risks set forth in RadNet's reports filed with the SEC from time to time, including RadNet's annual report on Form 10-K for the year ended December 31st, 2025. Undue reliance should not be placed on forward-looking statements, especially guidance on future financial performance which speaks only as of the date it is made. RADNET undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events. And with that, I'd now like to turn the call over to Dr. Berger.

Thank you, Mark. Good morning, everyone, and thank you for joining us today. On today's call, Mark, Faith, Sean, and I plan to provide you with highlights from our second quarter 2026 results, give you more insight into factors which affected this performance, and discuss our future strategy. After our prepared remarks, we will open the call to your questions. I'd like to thank all of you for your interest in the company and for dedicating a portion of your day to participate in our conference call this morning. Let's begin. I am very pleased with the performance in the second quarter. Total company revenue and adjusted EBITDA were both quarterly records. Total company revenue increased 25% to $622.7 million from $498.2 million in last year's second quarter and total company adjusted EBITDA increased 22.7% to $99.7 million from $81.2 million in last year's second quarter. Growth in the quarter was broad-based, driven by strong increases in aggregate and same We continue to experience strong demand in advanced imaging, MRI, CT, and PET-CT which is both a function of broader industry trends as well as the many initiatives and capital investments we have been implementing designed to expand capacity at our centers. During the second quarter, advanced imaging procedural volumes increased 21.2% in aggregate and same center advanced imaging procedural volumes increased 9.6% as compared with last year's second quarter. Aggregate MRI volume increased 21%, and same-center MRI volumes increased 10%. Aggregate CT volume increased 20.9%, and same-center volume increased 8.6%. And aggregate PET CT volume increased 31.0%, and same-center PET CT volume increased 8.8%. Disproportionate higher growth in MR, CT, and PET-CT relative routine imaging drove a 238 basis point shift in our advanced imaging procedural volume mix, increasing from 27.5% of total procedural volume in last year's second quarter to 29.9% in this year's second quarter. This favorable mix shift together with continued operational focus on controlling costs contributed to a 17 basis point improvement in imaging center segment adjusted EBITDA margin, which increased to 16.1% in the second quarter of 2026. Also, within the imaging centers, the joint venture relationships continue to expand. As of the end of the second quarter, 157 of our now 442 centers, or approximately 36%, were held within health system partnerships. During the quarter, we announced a multi-site joint venture in Boise, Idaho, with Trinity Health's St. Alphonsus Health System, which will initially include the operation of five multimodality outpatient imaging centers. As part of the relationship, our contracted radiology group, GEM State Radiology, and the St. Alphonsus Hospitals in Boise will be adopting a variety of deep health solutions, including Diagnostic Suite, Reporting Pro, AI Studio, and various clinical AI applications. Health systems continue to recognize that cost-effective, Pre-standing outpatient imaging centers are essential to their long-term strategies, and we continue to see a healthy pipeline of additional health system partnership opportunities. In addition, health systems have growing interest in implementing digital health tools to more effectively manage imaging volumes and provide radiologists and administrative staff with solutions to make them more productive and accurate. We are in discussions with new and existing partners about how we can provide more comprehensive solutions for all their imaging needs, both inpatient and outpatient. Given the positive trends we experienced throughout the second quarter and the strong financial performance we delivered, we elected to increase our 2026 full-year guidance ranges for imaging center revenue, adjusted EBITDA, and free cash flow. We are reaffirming all digital health guidance ranges. Mark will review the details of our updated guidance in his remarks. Finally, we continue to maintain a strong liquidity position and modest financial leverage. We ended the quarter with a cash balance of $726.3 million and a net debt to adjusted EBITDA ratio of 1.8 times. This continued financial flexibility positions us Well, to continue investing in both organic growth and disciplined acquisitions across both operating summits. I'd now like to turn the call over to Case Wiesdorf and John Soka, who will do a deeper dive into the digital health performance and provide a status update on many of our AI and enterprise imaging initiatives. Case, please go ahead.