Lumexa Imaging (LMRI) Q2 2026 earnings summary

Executive summary

• Operates 192 outpatient imaging centers in 14 states, with a focus on advanced modalities, strong health system partnerships, and high patient and physician satisfaction.

• Achieved consolidated revenues of $264.2 million in Q2 2026, up 5.1% year-over-year, and system-wide revenue growth of 6%.

• Net income reached $2.7 million in Q2 2026, reversing a net loss of $7.2 million in the prior year quarter.

• Announced four new imaging centers and a joint venture with Hospital for Special Surgery, expanding to 192 centers.

• Strategic growth levers include de novo site openings, joint ventures, technology-driven efficiencies, and M&A tuck-ins.

Financial highlights

• Q2 2026 revenue was $264.2 million, up 5.1% year-over-year; six-month revenue was $516.7 million, up 4.1%.

• Adjusted EBITDA for Q2 2026 was $56.4 million (21.4% margin), nearly flat year-over-year.

• Free cash flow reached a record $23.1 million, a $25.6 million improvement year-over-year.

• Interest expense fell 46% year-over-year due to refinancing.

• Cash and cash equivalents increased to $69.7 million as of June 30, 2026.

Outlook and guidance

• Reiterated full-year 2026 consolidated revenue guidance of $1.045–$1.097 billion and Adjusted EPS guidance of $0.71–$0.77.

• Narrowed full-year 2026 Adjusted EBITDA guidance to $235–$241 million, maintaining midpoint at $238 million.

• Expect 2026 free cash flow conversion of 25%–30% of adjusted EBITDA.

• Anticipate $5 million–$7 million in cash CapEx per quarter, with potential for higher spend if growth opportunities arise.