
Measles Cases Increasing Worldwide, Need the New NV-387 Broad-Spectrum Antiviral to Combat, Says NanoViricides
NV-387 is possibly the only drug candidate that has been shown to be effective and safe in animal model studies of Measles virus in humanized h-CD150+ knock-in mice, as reported previously by NanoViricides. NV-387 has completed a Phase I clinical trial with no reported adverse events, indicating excellent safety and tolerability in humans. The development of NV-387 as a treatment for Measles can be accelerated under the US FDA programs.
Measles is considered a rare orphan disease in the USA. As such, NV-387 for the treatment of Measles would qualify for an Orphan Drug Designation. Orphan drug designation qualifies sponsors for incentives including tax credits for qualified clinical trials, exemption from user fees, and potential seven years of market exclusivity after approval [1].
The Company also plans to explore a 'Fast Track' designation for the NV-387 Measles indication. If granted, a drug approval can occur on the basis of a successful Phase II clinical trial without requiring a Phase III clinical trial, which significantly reduces the timeline to approval.
Measles has become an important disease of concern globally in the recent years for several reasons. Most importantly, Measles disease can wipe out the previously learned immunity of the patient against many infections, including from prior infections, and non-live virus vaccines, making the population vulnerable to viruses that were encountered previously. This is because Measles virus attacks the CD150-bearing immune cells that are responsible for memorizing the prior infections and mounting defenses against them later.
Measles is possibly the most communicable diseases, spreading through aerosol, that is known to humans. In patients, it produces severe morbidity with skin rash, pain, fatigue, and other syndromes. Rarely it can cause a brain disease. Measles mostly affects children.
There were a total of 1,319 confirmed measles cases reported in the USA as of July 22, breaking the most recent record of 1,274 cases in 2019. Hospitalization rates for measles in the USA are about 13%, and fatalities are rare, although in 2025 there were three deaths to date.
Canada is having a much worse Measles season than the USA, with more than 3,800 cases [2] to date in 2025.
A Measles holiday warning has been issued in the UK this year [3]. England itself had more than 3,000 cases of Measles in 2024.
In the European Region, 127,350 measles cases were reported for 2024, double the number of cases reported for 2023 and the highest number since 1997, according to an analysis by WHO and the United Nations Children's Fund (UNICEF) [4].
Worldwide, Measles cases continue to occur every year. Globally, there have been about 108,000 confirmed measles cases in 2025 to date, while in 2024 there were about 360,000 confirmed cases, according to the WHO [5].
A sustained measles vaccination rate of at least 95% is estimated to be required to maintain community immunity ('herd immunity'). Such a high rate is becoming increasingly difficult to achieve even in developed countries where access to vaccination is not an issue.
While growing vaccine hesitancy is considered an important reason for the fall in Measles vaccination rates, two other factors are of importance as well: (i) The overall population in the industrialized world, as well as in developing world, has increased frequency of immune dysfunction, obesity, and diabetes. The people with immune dysfunction or immune compromise are less likely to benefit from almost any standard vaccination as compared to healthy people and are likely to result in breakthrough infections. (ii) Additionally, the current vaccine for Measles is a live attenuated vaccine of the 1968 era, and the virus has evolved well past that, although so far the Measles virus strains continue to be susceptible to antibodies produced from the standard vaccine; this can change with continuing circulation of the virus in vaccinated persons and can result in a virus that can substantially defeat the vaccine [6].
Further, vaccine hesitancy itself is not irrational because the standard Measles vaccine is a live attenuated vaccine to be given to infants at early age; it is a virus infection that continues to remain in the subject, which is why it provides lifelong immunity. Measles infection itself also provides lifelong immunity that includes the current strains of the virus.
Thus, the Company projects continuing Measles cases worldwide, that require a drug to control the disease in the patient and its spread to others.
We believe NV-387 fills this important medical need. There is no approved drug for treatment of Measles at present.
ABOUT NANOVIRICIDES
NanoViricides, Inc. (the 'Company') (www.nanoviricides.com) is a publicly traded (NYSE-American, stock symbol NNVC) clinical stage company that is creating special purpose nanomaterials for antiviral therapy. The Company's novel nanoviricide™ class of drug candidates and the nanoviricide™ technology are based on intellectual property, technology and proprietary know-how of TheraCour Pharma, Inc. The Company has a Memorandum of Understanding with TheraCour for the development of drugs based on these technologies for all antiviral infections. The MoU does not include cancer and similar diseases that may have viral origin but require different kinds of treatments.
The Company has obtained broad, exclusive, sub-licensable, field licenses to drugs developed in several licensed fields from TheraCour Pharma, Inc. The Company's business model is based on licensing technology from TheraCour Pharma Inc. for specific application verticals of specific viruses, as established at its foundation in 2005.
Our lead drug candidate is NV-387, a broad-spectrum antiviral drug that we plan to develop as a treatment of RSV, COVID, Long COVID, Influenza, and other respiratory viral infections, as well as MPOX/Smallpox infections. Our other advanced drug candidate is NV-HHV-1 for the treatment of Shingles. The Company cannot project an exact date for filing an IND for any of its drugs because of dependence on a number of external collaborators and consultants. The Company is currently focused on advancing NV-387 into Phase II human clinical trials.
The Company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. NanoViricides' platform technology and programs are based on the TheraCour® nanomedicine technology of TheraCour, which TheraCour licenses from AllExcel. NanoViricides holds a worldwide exclusive perpetual license to this technology for several drugs with specific targeting mechanisms in perpetuity for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Rabies, Herpes Simplex Virus (HSV-1 and HSV-2), Varicella-Zoster Virus (VZV), Influenza and Asian Bird Flu Virus, Dengue viruses, Japanese Encephalitis virus, West Nile Virus, Ebola/Marburg viruses, and certain Coronaviruses. The Company intends to obtain a license for RSV, Poxviruses, and/or Enteroviruses if the initial research is successful. As is customary, the Company must state the risk factor that the path to typical drug development of any pharmaceutical product is extremely lengthy and requires substantial capital. As with any drug development efforts by any company, there can be no assurance at this time that any of the Company's pharmaceutical candidates would show sufficient effectiveness and safety for human clinical development. Further, there can be no assurance at this time that successful results against coronavirus in our lab will lead to successful clinical trials or a successful pharmaceutical product.
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by NanoViricides, Inc. are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading 'Risk Factors' and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Although it is not possible to predict or identify all such factors, they may include the following: demonstration and proof of principle in preclinical trials that a nanoviricide is safe and effective; successful development of our product candidates; our ability to seek and obtain regulatory approvals, including with respect to the indications we are seeking; the successful commercialization of our product candidates; and market acceptance of our products.
The phrases 'safety', 'effectiveness' and equivalent phrases as used in this press release refer to research findings including clinical trials as the customary research usage and do not indicate evaluation of safety or effectiveness by the US FDA.
FDA refers to US Food and Drug Administration. IND application refers to 'Investigational New Drug' application. cGMP refers to current Good Manufacturing Practices. CMC refers to 'Chemistry, Manufacture, and Controls'. CHMP refers to the Committee for Medicinal Products for Human Use, which is the European Medicines Agency's (EMA) committee responsible for human medicines. API stands for 'Active Pharmaceutical Ingredient'. WHO is the World Health Organization. R&D refers to Research and Development.
Public Relations Contact:
ir@nanoviricides.com
View the original press release on ACCESS Newswire
The post Measles Cases Increasing Worldwide, Need the New NV-387 Broad-Spectrum Antiviral to Combat, Says NanoViricides appeared first on DA80 Hub.

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(b) Net of payments from counterparties on interest rate swaps and interest income from our cash balance recorded in Other Health Segment OriginalGuidance Range RevisedGuidance Range AfterQ1 Results RevisedGuidance Range AfterQ2 Results Total Net Revenue (inclusive of intersegment revenue) $80 - $90 million $80 - $90 million $80 - $90 million Adjusted EBITDA(1) Before Non-Capitalized R&D - DeepHealth Cloud OS & Generative AI $15 - $17 million $15 - $17 million $15 - $17 million Non-Capitalized R&D - DeepHealth Cloud OS & Generative AI $16 - $18 million $16 - $18 million $17 - $19 million Capital Expenditures $3 - $5 million $3 - $5 million $2 - $4 million Free Cash Flow(2) Before Non-Capitalized R&D - DeepHealth Cloud OS & Generative AI $11 - $13 million $11 - $13 million $11 - $13 million Free Cash Flow(2) After Non-Capitalized R&D - DeepHealth Cloud OS & Generative AI $(5) - $(8) million $(5) - $(8) million $(5) - $(8) million 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 second quarter 2025 results on Monday, August 11th, 2025 at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time). Conference Call Details: Date: Monday, August 11, 2025Time: 10:30 a.m. Eastern TimeDial In-Number: 844-826-3035International Dial-In Number: 412-317-5195 It is recommended 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 or 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 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 405 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 team members. For more information, visit press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are expressions of our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, and anticipated future conditions, events and trends. Forward-looking statements can generally be identified by words such as: 'anticipate,' 'intend,' 'plan,' 'goal,' 'seek,' 'believe,' 'project,' 'estimate,' 'expect,' 'strategy,' 'future,' 'likely,' 'may,' 'should,' 'will' and similar references to future periods. Forward-looking statements in this press release include, among others, statements about our anticipated business results, balance sheet and liquidity and our future liquidity, burn rate and our continuing ability to service or refinance our current indebtedness. Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements relate to the future, they are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the availability and terms of capital to fund our business; our ability to service our indebtedness, make principal and interest payments as those payments become due and remain in compliance with applicable debt covenants, in addition to our ability to refinance such indebtedness on acceptable terms; changes in general economic conditions nationally and regionally in the markets in which we operate; the availability and terms of capital to fund the expansion of our business and improvements to our existing facilities; our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so; our ability to acquire, develop, implement and monetize technology, digital health initiatives, artificial intelligence algorithms and applications; volatility in interest and exchange rates, or credit markets; the adequacy of our cash flow and earnings to fund our current and future operations; changes in service mix, revenue mix and procedure volumes; delays in receiving payments for services provided; increased bankruptcies among our partner physicians or joint venture partners; the impact of the political environment and related developments on the current healthcare marketplace and on our business, including with respect to the future of the Affordable Care Act; the extent to which the ongoing implementation of healthcare reform, or changes in or new legislation, regulations or guidance, enforcement thereof by federal and state regulators or related litigation result in a reduction in coverage or reimbursement rates for our services, or other material impacts to our business; closures or slowdowns and changes in labor costs and labor difficulties, including stoppages affecting either our operations or our suppliers' abilities to deliver supplies needed in our facilities; the occurrence of hostilities, political instability or catastrophic events; the emergence or reemergence of and effects related to future pandemics, epidemics and infectious diseases; and noncompliance by us with any privacy or security laws or any cybersecurity incident or other security breach by us or a third party involving the misappropriation, loss or other unauthorized use or disclosure of confidential information. Any forward-looking statement contained in this current report is based on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that we may make from time to time, whether as a result of changed circumstances, new information, future developments or otherwise, except as required by applicable release contains certain financial information not reported in accordance with GAAP. The Company uses both GAAP and non-GAAP metrics to measure its financial results. The Company believes that, in addition to GAAP metrics, these non-GAAP metrics assist the Company in measuring its cash-based performance. The Company believes this information is useful to investors and other interested parties because it removes unusual and nonrecurring charges that occur in the affected period and provides a basis for measuring the Company's financial condition against other quarters. Such information should not be considered as a substitute for any measures calculated in accordance with GAAP, and may not be comparable to other similarly titled measures of other companies. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Reconciliation of this information to the most comparable GAAP measures is included in this release in the tables which follow. RADNET, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS EXCEPT SHARE AND PER SHARE DATA) June 30, 2025 December 31, 2024 (unaudited) ASSETS CURRENT ASSETS Cash and Cash equivalents $ 833,152 $ 740,020 Accounts receivable 199,991 185,821 Due from affiliates 12,959 41,869 Prepaid expenses and other current assets 48,277 51,542 Total current assets 1,094,379 1,019,252 PROPERTY, EQUIPMENT AND RIGHT-OF-USE ASSETS Property and equipment, net 741,382 694,791 Operating lease right-of-use assets 666,054 639,740 Total property, plant, equipment and right-of-use assets 1,407,436 1,334,531 OTHER ASSETS Goodwill 751,514 710,663 Other intangible assets 91,078 81,351 Deferred financing costs 1,974 2,265 Investment in joint ventures 125,804 104,057 Deposits and other 42,781 34,571 Total Assets $ 3,514,966 $ 3,286,690 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable, accrued expenses and other $ 406,689 $ 351,464 Due to affiliates 51,067 43,650 Deferred revenue 3,433 3,288 Current operating lease liability 59,537 56,618 Current portion of notes payable 25,484 24,692 Total current liabilities 546,210 479,712 LONG-TERM LIABILITIES Long-term operating lease liability 678,783 655,979 Notes payable, net of current portion 1,077,251 991,574 Deferred tax liability, net 21,441 22,230 Other non-current liabilities 12,020 3,785 Total liabilities 2,335,705 2,153,280 EQUITY RadNet, Inc. stockholders' equity: Common stock - $0.0001 value, 200,000,000 shares authorized; 75,067,102 and 74,036,993 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 8 7 Additional paid-in-capital 1,025,936 988,147 Accumulated other comprehensive loss 6,627 (9,061 ) Accumulated deficit (100,257 ) (76,785 ) Total RadNet, Inc.'s Stockholders' equity: 932,314 902,308 Noncontrolling interests 246,947 231,102 Total Equity 1,179,261 1,133,410 Total liabilities and equity $ 3,514,966 $ 3,286,690 RADNET, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (IN THOUSANDS EXCEPT FOR SHARE AND PER SHARE DATA) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 REVENUE Service fee revenue $ 468,063 $ 422,745 $ 907,412 $ 819,934 Revenue under capitation arrangements 30,167 36,969 62,217 71,487 Total service revenue 498,230 459,714 969,629 891,421 OPERATING EXPENSES Cost of operations, excluding depreciation and amortization 429,085 389,724 882,565 777,313 Lease abandonment charges 123 - 5,511 - Depreciation and amortization 35,993 34,475 71,476 66,843 Loss (gain) on sale and disposal of equipment and other 1,724 401 2,126 587 Severance costs 426 268 1,173 493 Total operating expenses 467,351 424,868 962,851 845,236 INCOME (LOSS) FROM OPERATIONS 30,879 34,846 6,778 46,185 OTHER INCOME AND EXPENSES Interest expense 17,189 26,082 34,428 42,349 Equity in earnings of joint ventures (4,356 ) (3,389 ) (6,955 ) (7,713 ) Non-cash change in fair value of interest rate hedge 1,956 1,890 4,062 674 Debt restructuring and extinguishment expenses - 8,762 - 8,762 Other (income) expenses (7,764 ) (7,900 ) (15,476 ) (10,834 ) Total other (income) expenses 7,025 25,445 16,059 33,238 INCOME (LOSS) BEFORE INCOME TAXES 23,854 9,401 (9,281 ) 12,947 Provision for income taxes (820 ) (2,456 ) 2,578 (592 ) NET INCOME (LOSS) 23,034 6,945 (6,703 ) 12,355 Net income (loss) attributable to noncontrolling interests 8,580 9,927 16,769 18,116 NET INCOME (LOSS) ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 14,454 $ (2,982 ) $ (23,472 ) $ (5,761 ) BASIC NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 0.19 $ (0.04 ) $ (0.32 ) $ (0.08 ) DILUTED NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 0.19 $ (0.04 ) $ (0.32 ) $ (0.08 ) WEIGHTED AVERAGE SHARES OUTSTANDING Basic 74,352,498 73,419,124 74,070,438 71,795,080 Diluted 75,531,743 73,419,124 74,070,438 71,795,080 RADNET, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASHFLOWS (IN THOUSANDS) (unaudited) Six Months Ended June 30, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net (loss) income $ (6,703 ) $ 12,355 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization 71,476 66,843 Noncash operating lease expense 29,356 30,006 Equity in earnings of joint ventures, net of dividends (1,267 ) (6,713 ) Amortization of deferred financing costs and loan discount 1,471 1,541 Loss on sale and disposal of equipment 2,126 587 Loss on extinguishment of debt - 2,080 Lease abandonment charges 5,511 - Amortization of cash flow hedge 2,712 7,256 Non-cash change in fair value of interest rate swap 4,062 674 Stock-based compensation 37,235 16,645 Change in fair value of contingent consideration - 1,974 Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in purchase transactions: Accounts receivable (14,159 ) (31,581 ) Other current assets 22,381 5,242 Other assets (2,544 ) (5,553 ) Deferred taxes (3,511 ) 1,791 Operating leases (34,726 ) (27,707 ) Deferred revenue 145 (185 ) Accounts payable, accrued expenses and other 48,264 57,835 Net cash provided by operating activities 161,829 133,090 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of imaging facilities and other acquisitions, net of cash acquired (31,985 ) (32,771 ) Purchase of property and equipment and other (101,776 ) (104,095 ) Proceeds from sale of equipment 40 9 Equity contributions in existing and purchase of interest in joint ventures (20,480 ) (1,421 ) Net cash used in investing activities (154,201 ) (138,278 ) CASH FLOWS FROM FINANCING ACTIVITIES Principal payments on notes and leases payable (3,461 ) (2,624 ) Payments on Term Loan Debt (10,252 ) (682,438 ) Proceeds from issuance of new debt, net of issuing costs 99,001 863,869 Purchase of noncontrolling interests by third party 2,389 4,169 Payments on contingent consideration and holdbacks - (3,614 ) Distributions paid to noncontrolling interests (3,313 ) (2,423 ) Proceeds from sale of economic interests in majority owned subsidiary, net of taxes - 8,713 Proceeds from issuance of common stock - 218,385 Proceeds from issuance of common stock upon exercise of options 554 367 Net cash provided by financing activities 84,918 404,404 EFFECT OF EXCHANGE RATE CHANGES ON CASH 586 (107 ) NET INCREASE IN CASH AND CASH EQUIVALENTS 93,132 399,109 CASH AND CASH EQUIVALENTS, beginning of period 740,020 342,570 CASH AND CASH EQUIVALENTS, end of period 833,152 741,679 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Cash paid during the period for interest $ 35,018 $ 34,203 Cash paid during the period for income taxes $ 2,428 $ 705 RADNET, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME ATTRIBUTABLE TO RADNET, INC. COMMON SHAREHOLDERS TO ADJUSTED EBITDA (IN THOUSANDS) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) attributable to Radnet, Inc. common stockholders $ 14,454 $ (2,982 ) $ (23,472 ) $ (5,761 ) Income taxes 820 2,456 (2,578 ) 592 Interest expense 17,189 26,082 34,428 42,349 Severance costs 426 268 1,173 493 Depreciation and amortization 35,993 34,475 71,476 66,843 Non-cash employee stock-based compensation 8,741 4,749 37,235 16,646 Loss (gain) on sale and disposal of equipment and other 1,724 401 2,126 587 Non-cash change in fair value of interest rate hedge 1,956 1,890 4,062 674 Other expenses (income) (7,764 ) (7,900 ) (15,476 ) (10,834 ) Non-Capitalized R&D - DeepHealth Cloud OS & Generative AI 4,787 3,317 8,349 6,632 Lease abandonment charges 123 - 5,511 - Loss (gain) on extinguishment of debt and related expenses - 8,762 - 8,762 Non-cash change to contingent consideration - - - 1,974 Non-operational rent expenses 496 809 1,838 1,832 Acquisition transaction costs 2,301 - 2,973 - Adjusted EBITDA - Radnet, Inc. $ 81,246 $ 72,327 $ 127,645 $ 130,789 NOTE Adjusted EBITDA - Imaging Center Segment 77,843 69,058 120,531 124,000 Adjusted EBITDA - Digital Health Segment 3,403 3,269 7,114 6,789 PAYMENTS BY PAYOR CLASS Second Quarter 2025 Commercial Insurance 58.3% Medicare 23.3% Capitation 6.1% Medicaid 2.5% Workers Compensation/Personal Injury 2.1% Other* 7.6% Total 100.0% * Includes Management Fees, Digital Health Revenue and Heart Lung Health Revenue. RADNET PAYMENTS BY MODALITY Second Quarter Full Year Full Year Full Year 2025 2024 2023 2022 MRI 37.3 % 37.1 % 36.8 % 36.8 % CT 15.7 % 15.9 % 16.8 % 17.5 % PET/CT 8.7 % 7.2 % 6.4 % 5.8 % X-ray 5.6 % 6.0 % 6.5 % 6.7 % Ultrasound 13.6 % 13.6 % 12.9 % 12.6 % Mammography 15.8 % 16.4 % 16.0 % 15.3 % Nuclear Medicine 0.9 % 1.0 % 0.8 % 0.9 % Other 2.5 % 2.7 % 3.9 % 4.5 % 100.0 % 100.0 % 100.0 % 100.0 % PROCEDURES BY MODALITY* Second Quarter Second Quarter 2025 2024 MRI 490,299 449,781 CT 291,820 269,939 PET/CT 22,155 18,107 Nuclear Medicine 9,377 9,610 Ultrasound 701,917 664,043 Mammography 508,000 483,510 X-ray and Other 900,095 890,814 Total 2,923,663 2,785,804 * Volumes include wholy owned and joint venture centers. RADNET, INC. AND SUBSIDIARIES SCHEDULE OF ADJUSTED EARNINGS AND EARNINGS PER SHARE (3) (IN THOUSANDS EXCEPT SHARE DATA) (unaudited) Three Months Ended June 30, 2025 2024 NET INCOME ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 14,454 $ (2,982 ) Add/Subtract non-cash change in fair value of interest rate swaps (i) 1,956 1,890 Non-cash interest expense from extraordinary interest rate swap OCI amortization - 5,559 Non-operational rent expenses (iii) 496 809 Contingent consideration - - Non-Capitalized R&D - DeepHealth Cloud OS & Generative AI 4,787 3,317 Lease abandonment charge 123 - Acquisition transaction costs 2,301 - Debt restructing and extinguishment expenses (iv) - 8,762 Total adjustments - loss (gain) 9,663 20,337 Subtract tax impact of Adjustments (ii) (332 ) (5,308 ) Tax effected impact of adjustments 9,331 15,029 TOTAL ADJUSTMENT TO NET INCOME ATTRIBUTABLE TO RADNET, INC. COMMON SHAREHOLDERS 9,331 15,029 ADJUSTED NET INCOME ATTRIBUTABLE TO RADNET, INC. 23,785 12,047 COMMON STOCKHOLDERS WEIGHTED AVERAGE SHARES OUTSTANDING Diluted 75,531,743 74,944,366 ADJUSTED DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO RADNET, INC. COMMON STOCKHOLDERS $ 0.31 $ 0.16 (i) Impact from the change in fair value of the swaps during the quarter. Excludes the recurring amortization of the accumulation of the changes in fair value out of Other Comprehensive Income that existed prior to the hedges becoming ineffective. (ii) Tax effected using 3.44% and 26.10% blended federal and state effective tax rate for the second quarter of 2025 and 2024, respectively. (iii) Represents rent expense associated with de novo sites under construction prior to them becoming operational. (iv) Extraordinary expense related to the Company's successful April 2024 debt refinancing transaction. Footnotes (1) The Company defines Adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, each from continuing operations and adjusted for losses or gains on the sale of equipment, other income or loss, debt extinguishments and non-cash equity compensation. Adjusted EBITDA includes equity earnings in unconsolidated operations and subtracts allocations of earnings to non-controlling interests in subsidiaries, and is adjusted for non-cash or extraordinary and one-time events taken place during the period. Adjusted EBITDA is reconciled to its nearest comparable GAAP financial measure. Adjusted EBITDA is a non-GAAP financial measure used as analytical indicator by RadNet management and the healthcare industry to assess business performance, and is a measure of leverage capacity and ability to service debt. Adjusted EBITDA should not be considered a measure of financial performance under GAAP, and the items excluded from Adjusted EBITDA should not be considered in isolation or as alternatives to net income, cash flows generated by operating, investing or financing activities or other financial statement data presented in the consolidated financial statements as an indicator of financial performance or liquidity. As Adjusted EBITDA is not a measurement determined in accordance with GAAP and is therefore susceptible to varying methods of calculation, this metric, as presented, may not be comparable to other similarly titled measures of other companies. (2) As noted above, the Company defines Free Cash Flow as Adjusted EBITDA less total Capital Expenditures (whether completed with cash or financed) and Cash Interest Expense. Free Cash Flow is a non-GAAP financial measure. The Company uses Free Cash Flow because the Company believes it provides useful information for investors and management because it measures our capacity to generate cash from our operating activities. Free Cash Flow does not represent total cash flow since it does not include the cash flows generated by or used in financing activities. In addition, our definition of Free Cash Flow may differ from definitions used by other companies. Free Cash Flow should not be considered a measure of financial performance under GAAP, and the items excluded from Adjusted EBITDA should not be considered in isolation or as alternatives to net income, cash flows generated by operating, investing or financing activities or other financial statement data presented in the consolidated financial statements as an indicator of financial performance or liquidity. As Adjusted EBITDA is not a measurement determined in accordance with GAAP and is therefore susceptible to varying methods of calculation, this metric, as presented, may not be comparable to other similarly titled measures of other companies. (3) The Company defines Adjusted Earnings (Loss) Per Share as net income or loss attributable to RadNet, Inc. common stockholders and excludes losses or gains on the disposal of equipment, loss on debt extinguishments, bargain purchase gains, severance costs, loss on impairment, loss or gain on swap valuation, gain on extinguishment of debt, unusual or non-recurring entries that impact the Company's tax provision and any other non-recurring or unusual transactions recorded during the period. Adjusted Earnings (Loss) Per Share is reconciled to its nearest comparable GAAP financial measure. Adjusted Earnings (Loss) Per Share is a non-GAAP financial measure used as analytical indicator by RadNet management and the healthcare industry to assess business performance. Adjusted Earnings Per Share should not be considered a measure of financial performance under GAAP, and the items excluded from Adjusted Earnings Per Share should not be considered in isolation or as alternatives to net income, cash flows generated by operating, investing or financing activities or other financial statement data presented in the consolidated financial statements as an indicator of financial performance or liquidity. As Adjusted Earnings Per Share is not a measurement determined in accordance with GAAP and is therefore susceptible to varying methods of calculation, this metric, as presented, may not be comparable to other similarly titled measures of other in to access your portfolio