Lumexa Imaging Announces Robust Preliminary Q4 and Full Year 2025 Results; Offers 2026 Guidance and Business Updates
Raleigh, North Carolina – March 2, 2026 – Lumexa Imaging Holdings, Inc. (“Lumexa Imaging”), one of the nation’s largest providers of outpatient imaging services, has released its preliminary, unaudited financial results for the fourth quarter and full year ended December 31, 2025. The company also provided financial guidance for 2026 and announced upcoming investor conference presentations.
Key Financial Highlights
- Initial Public Offering: Lumexa Imaging completed its IPO in Q4 2025, marking a significant milestone in its corporate journey.
- Debt Reduction and Refinancing: The company meaningfully reduced its leverage and refinanced remaining debt at more favorable rates.
- Growth in Locations: Opened 3 wholly owned de novo centers and acquired one additional site during Q4 2025. For the full year, 9 de novo centers were opened (6 wholly owned, 3 joint ventures), and 1 acquisition was completed.
- Revenue Performance:
- Q4 2025: Expected consolidated revenues of at least \$261 million, up from \$248.0 million (+5.2%).
- Full Year 2025: Expected consolidated revenues of at least \$1.016 billion, up from \$948.9 million (+7.1%).
- System-wide Growth:
- Q4 2025: Expected system-wide revenue growth of at least 10%.
- Full Year 2025: Expected system-wide revenue growth of at least 8%.
- Profitability Metrics:
- Q4 2025: Expected net loss not larger than \$25.4 million (vs. \$25.1 million in Q4 2024). Expected Adjusted EBITDA of at least \$63 million (vs. \$53.7 million in Q4 2024, +17.2%).
- Full Year 2025: Expected net loss not larger than \$43.8 million, a significant improvement from \$94.1 million in 2024. Expected Adjusted EBITDA of at least \$229 million (vs. \$200.8 million in 2024, +14.1%).
Operational Performance and Market Expansion
- Significant Volume Growth:
- Consolidated total procedures (2025): 2,418,096 (+4.6% YoY). Q4 2025: 627,293 (+10.1% YoY).
- Consolidated advanced procedures (MRI and CT): 728,304 (+7.8% YoY). Q4 2025: 190,982 (+14.2% YoY).
- System-wide total procedures (2025): 3,972,228 (+3.4% YoY). Q4 2025: 1,027,590 (+6.8% YoY).
- System-wide advanced procedures: 1,444,618 (+7.7% YoY). Q4 2025: 379,527 (+11.0% YoY).
- PET Imaging Volumes: Full year PET volumes increased 17.0% on a consolidated basis and 13.5% system-wide, driven by expanded use of radiopharmaceuticals for prostate cancer and dementia detection.
- Expansion of Service Lines: Launched an AI-powered Breast Arterial Calcification pilot in New Jersey, with over 12% of screening mammography patients opting in. There are plans to expand this offering in 2026.
2026 Financial Guidance
- Revenues: Projected consolidated revenues between \$1.045 billion and \$1.097 billion.
- Adjusted EBITDA: Projected between \$234 million and \$242 million. This guidance includes an estimated \$7 million of incremental public company costs not incurred in 2025. At the midpoint, Adjusted EBITDA growth is expected to slow from 7% to 4% due to these additional costs.
Strategic and Market Updates
- Continued Expansion: The company opened its first de novo center of 2026 in February and continues to pursue both wholly owned and joint venture growth strategies.
- Return to Network: Accelerated ramp in New Jersey following a successful return in-network with a major payer, contributing to volume and revenue growth.
- Industry Tailwinds: The company cites favorable macro trends, including increasing demand for high-quality outpatient imaging, as supportive of future growth.
Investor Events and Conference Call
Non-GAAP Financial Information
Lumexa Imaging uses Adjusted EBITDA, a non-GAAP measure, for internal management and investor communications. The company notes that some reconciling items (e.g., transaction costs, severance, executive recruiting) are variable and unpredictable, and thus Adjusted EBITDA guidance is not reconciled to GAAP net loss in advance. A detailed reconciliation for 2025 and 2024 is provided in the release.
About Lumexa Imaging
With over 5,000 employees and more than 185 outpatient imaging centers spanning 13 states, Lumexa Imaging performed around 4 million outpatient procedures system-wide in 2025. The company positions itself as a partner of choice for health systems and radiologists, emphasizing clinical excellence, operational efficiency, and cutting-edge technology.
Forward-Looking Statements
This press release contains forward-looking statements regarding financial performance, business strategy, and market outlook. Actual results may differ due to risks and uncertainties, including those detailed in the company’s SEC filings.
Price-Sensitive and Shareholder-Relevant Points:
- Completion of the company’s IPO and debt refinancing may materially impact capital structure and liquidity.
- Significant improvement in net loss and double-digit Adjusted EBITDA growth could support positive investor sentiment.
- Expansion of advanced and PET imaging volumes, AI diagnostic initiatives, and successful payer negotiations may be viewed favorably by the market.
- 2026 guidance implies continued revenue growth but a slowdown in Adjusted EBITDA growth due to public company costs—this could temper some expectations.
- Upcoming investor conferences and the earnings call are potential catalysts for share price movement as more detailed guidance and management commentary are provided.
Disclaimer: This article is based on preliminary, unaudited financial information and forward-looking statements provided by Lumexa Imaging Holdings, Inc. Actual results may differ materially. Readers are advised to consult official SEC filings and conduct their own due diligence before making investment decisions. This is not investment advice.
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