"In Q1, we delivered several meaningful achievements to kick off a year of executing on our strategic priorities," said Caitlin Zulla, Chief Executive Officer of Lumexa Imaging. "We continued to drive strong growth in same-center advanced imaging volumes and our de novo centers are ramping according to our plans."
"We are also announcing tonight four additional Lumexa Imaging centers including two strategic tuck-in acquisitions plus two de novos. We are well on our way to achieving our stated goal of adding 8-10 de novos to our network of centers this year." Ms. Zulla continued, "With a large addressable market, and strong demand tailwinds plus a focused strategy centered on same-center growth, geographic expansion, and advanced imaging, we believe Lumexa Imaging is well positioned to deliver sustained, profitable growth while expanding access to high-quality, lower-cost imaging for patients, providers, and payors."
First Quarter 2026 Highlights:All comparisons are to the quarter ended March 31, 2025, unless otherwise noted
Consolidated revenues of $252.5 million, an increase of 3.1% from $245.0 million
System-wide revenue growth of 4.0%
Same center advanced volume growth: 5.6% for both consolidated and system-wide
Net income of $1.7 million as compared to net loss of $7.7 million
Adjusted EBITDA of $51.2 million as compared to $51.0 million; and a 20.3% Adjusted EBITDA margin
GAAP EPS of $0.02 per share and Adjusted EPS of $0.18 per share
Outpatient Volumes:
Consolidated
1Q26
1Q25
Increase YoY
Consolidated total procedures
586,337
579,084
1.3%
Consolidated advanced procedures
182,176
170,497
6.8%
% advanced procedures
31.1%
29.4%
170bps
Consolidated same-center advanced volume growth
------
------
5.6%
System-wide
System-wide total procedures
966,934
943,490
2.5%
System-wide advanced procedures
357,592
334,642
6.9%
% advanced procedures
37.0%
35.5%
150bps
System-wide same-center advanced volume growth
------
------
5.6%
Note: Advanced Procedures includes MRI and CT modalities
2026 Full Year Outlook:
The company is reiterating its outlook for the year ending December 31, 2026. Lumexa Imaging continues to expect:
Consolidated revenues of $1.045 to $1.097 billion
Adjusted EBITDA of $234 to $242 million. This includes approximately $7 million of public company costs that were not incurred in 2025. (At the midpoint of guidance, the addition of these costs lowers Adjusted EBITDA growth for 2026 versus 2025 from 7% to 4%)
Adjusted EPS of $0.71 to $0.77 per share
Lumexa Imaging Earnings Conference Call and WebcastLumexa Imaging will host a conference call to discuss its first quarter 2026 results, as well as its 2026 outlook, on May 12, 2026 at 5:00 p.m. ET. The call can be accessed via live audio webcast online at ir.lumexaimaging.com. A replay of the webcast will be available at the same link shortly after the completion of the call and will remain available for approximately one year.
Statement Regarding Use of Non-GAAP Financial Measures
This press release uses Adjusted EBITDA and Adjusted EPS, financial measures that are not calculated in accordance with GAAP. We use Adjusted EBITDA and Adjusted EPS, in conjunction with GAAP financial measures, as an integral part of managing our business and to, among other things: (i) monitor and evaluate the performance of our business operations and financial performance; (ii) facilitate internal comparisons of the historical operating performance of our business operations; (iii) review and assess the operating performance of our management team; and (iv) analyze and evaluate financial and strategic planning decisions regarding future operations and annual operating budgets. For a reconciliation of Adjusted EBITDA and Adjusted EPS to the most directly comparable measure calculated in accordance with GAAP, please see below.
We have not reconciled our Adjusted EBITDA or Adjusted EPS guidance to their most directly comparable GAAP measures because we do not and are not able to provide guidance for those GAAP measures due to the uncertainty and potential variability of certain reconciling items, including transaction costs, severance and executive recruiting. Because such items cannot be provided without unreasonable efforts, we are unable to provide the corresponding reconciliations. However, such reconciling items could have a significant impact on our future results.
About Lumexa Imaging
Lumexa Imaging is a nationwide provider of outpatient medical imaging. With over 5,000 team members and greater than 190 outpatient imaging centers, our team conducted approximately 4 million outpatient procedures system-wide in 2025. We are a partner of choice for health systems and radiologists, delivering best-in-class clinical excellence, operations, and state-of-the-art technology across our platform.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," or "will," or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding our expectations regarding our financial position and operating performance, including our guidance for full year 2026 and our assumptions underlying such guidance; our ability to drive future growth and execute on our goals and strategies; and our expectations regarding our product innovation. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including but not limited to those risk factors identified in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our Annual Report on Form 10-K for the year ended December 31, 2025, each as filed with the Securities and Exchange Commission (SEC). The forward-looking statements in this press release are based on information available to us as of the date hereof, and we disclaim any obligations to update any forward-looking statements, except as required by law.
Investors:Sue DooleyLumexa Imaging[email protected]
Media ContactMelissa WestonLumexa Imaging [email protected]
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT FOR COMMON SHARES)
(Unaudited)
March 31, 2026
December 31, 2025
ASSETS
Cash and cash equivalents
$
51,226
$
58,828
Accounts receivable
118,141
112,942
Accounts receivable, related party
15,942
18,893
Other receivables
20,045
19,015
Prepaid expenses
16,534
17,582
Total current assets
221,888
227,260
Property and equipment, net of accumulated depreciation
150,127
144,709
Operating lease right-of-use assets
76,175
76,555
Investments in unconsolidated affiliates
420,519
423,191
Intangible assets, net of accumulated amortization
40,245
41,335
Goodwill
807,554
807,554
Other assets
46,845
43,953
TOTAL ASSETS
$
1,763,353
$
1,764,557
LIABILITIES AND EQUITY
Accounts payable
$
37,168
$
44,857
Accrued expenses and other current liabilities
80,174
95,561
Accounts receivable pledging arrangement
1,693
1,599
Current portion of long-term debt
13,437
13,112
Current portion of finance lease liabilities
13,408
11,552
Current portion of operating lease liabilities
12,053
12,513
Total current liabilities
157,933
179,194
Long-term debt, less current maturities
816,974
819,029
Long-term finance lease liabilities, less current maturities
38,483
33,262
Long-term operating lease liabilities, less current maturities
71,402
71,437
Deferred income taxes
41,498
40,772
Other liabilities
37,443
34,740
Total liabilities
1,163,733
1,178,434
COMMITMENTS AND CONTINGENCIES
EQUITY:
