Lumexa Imaging Holdings, Inc. (LMRI)
NASDAQ:LMRI
Want to see LMRI full AI Analyst Report?
Top Page
Lumexa Imaging Holdings, Inc.
(NASDAQ:LMRI)
Select Model
Select Model
Rating:53Neutral
Price Target:
$9.50
▼(-1.66% Downside)
Action:ReiteratedDate:04/02/26
The score is anchored by mixed financial performance (improving leverage and strong revenue inflection but ongoing net losses and weaker 2025 cash flow) and weak technicals (downtrend/oversold). These are partly offset by a positive earnings-call setup with reaffirmed 2026 guidance and operational efficiency/deleveraging initiatives, while valuation is constrained by negative earnings and no dividend.
Positive Factors
Revenue & Adjusted EBITDA Growth
Sustained top-line growth with simultaneous adjusted EBITDA expansion indicates durable demand for advanced outpatient imaging. This revenue and margin momentum supports operating leverage, funds network expansion, and underpins a credible multi-year path to consistent profitability if trends continue.
Negative Factors
Ongoing GAAP Net Losses
Despite operating improvements, persistent GAAP losses indicate the company has not fully converted operating performance into bottom-line profitability. Continued net losses can erode equity, limit retained earnings, and may necessitate further financing until sustained net profits are achieved.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Adjusted EBITDA Growth
Sustained top-line growth with simultaneous adjusted EBITDA expansion indicates durable demand for advanced outpatient imaging. This revenue and margin momentum supports operating leverage, funds network expansion, and underpins a credible multi-year path to consistent profitability if trends continue.
Read all positive factors
Lumexa Imaging Holdings, Inc. (LMRI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$961.10M
Dividend YieldN/A
Average Volume (3M)1.53M
Price to Earnings (P/E)―
Beta (1Y)2.22
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
EmployeesN/A
SectorTechnology
Sector Strength88
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.38
Shares Outstanding96,110,040
10 Day Avg. Volume1,530,126
30 Day Avg. Volume1,530,126
Financial Highlights & Ratios
PEG Ratio0.82
Price to Book (P/B)2.24
Price to Sales (P/S)1.28
P/FCF Ratio-205.07
Enterprise Value/Market Cap1.94
Enterprise Value/Revenue6.96
Enterprise Value/Gross Profit62.69
Enterprise Value/Ebitda378.31
Forecast
1Y Price Target
$18.00Price Target Upside86.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.78
Revenue Forecast (FY)$1.06B
Lumexa Imaging Holdings, Inc. Business Overview & Revenue Model
Company Description
Lumexa Imaging Holdings, Inc. owns and operates diagnostic imaging centres in the United States. The company provides outpatient medical imaging services, such as magnetic resonance imaging (MRI), computed tomography (CT), and positron emission to...
Lumexa Imaging Holdings, Inc. Earnings Call Summary
Earnings Call Date:Mar 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The earnings call presents a predominantly positive operational and financial picture: healthy revenue and adjusted EBITDA growth, margin expansion, strong cash generation, significant deleveraging following the IPO, record de novo openings, and meaningful progress on technology and JV partnerships. Near-term challenges include Q1 volume timing effects from pull-forwards and weather, GAAP losses driven by transaction costs, ongoing capital intensity with limited forward CapEx detail, and continued stock-based compensation expense. Management maintained full-year guidance and provided EPS guidance, signaling confidence in recovering lost volumes and delivering on 2026 plans.Positive Updates
Quarterly Revenue Growth
Consolidated Q4 2025 revenue of $267.7M, up 7.9% year-over-year; full year 2025 consolidated revenue of $1.023B, up 7.8% vs. 2024.
Negative Updates
GAAP Net Loss Driven by One-Time Transaction Costs
GAAP net loss in Q4 of $28.7M vs. loss of $25.1M a year ago; loss attributed to refinancing and IPO-related transaction costs incurred in the period.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue Growth
Consolidated Q4 2025 revenue of $267.7M, up 7.9% year-over-year; full year 2025 consolidated revenue of $1.023B, up 7.8% vs. 2024.
Read all positive updates
Company Guidance
Lumexa reiterated full‑year 2026 guidance of $1.045B–$1.097B in revenue and $234M–$242M in adjusted EBITDA (the range includes ~ $7M of public‑company costs; the midpoint implies ~7% adjusted EBITDA growth excluding those costs) and added adjusted EPS guidance of $0.71–$0.77; management said volumes should continue to grow with advanced modalities outpacing routine mix, Q1 adjusted EBITDA is expected to be roughly flat year‑over‑year (impacted by pull‑forward into Q4 and regional storms), and they plan to open 8–10 de‑novo sites annually (typical de‑novo breakeven ~1 year); operational levers cited to hit the plan include FastScan (50% fleet at year‑end 2025, targeting ~2/3 adoption by end‑2026 with ~40% throughput improvement, ~$150k bolt‑on cost), continued PET expansion (mid‑teens volume growth in 2025), and a capital/ balance‑sheet posture that drove leverage to ~3.5x in December with a longer‑term target below 3x and anticipated annual interest/cash savings of >$50M.Lumexa Imaging Holdings, Inc. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
62
Positive
Cash Flow
44
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 1.02B | 948.87M | 935.92M |
| Gross Profit | 117.19M | 96.26M | 98.97M |
| EBITDA | 82.12M | 114.00M | 94.58M |
| Net Income | -47.10M | -94.10M | -122.23M |
Balance Sheet | |||
| Total Assets | 1.76B | 1.71B | 1.67B |
| Cash, Cash Equivalents and Short-Term Investments | 58.83M | 26.13M | 20.19M |
| Total Debt | 960.90M | 1.31B | 1.30B |
| Total Liabilities | 1.18B | 1.51B | 1.47B |
| Stockholders Equity | 586.12M | 161.65M | 198.43M |
Cash Flow | |||
| Free Cash Flow | -6.40M | 12.95M | 13.51M |
| Operating Cash Flow | 17.07M | 40.73M | 37.51M |
| Investing Cash Flow | -20.96M | -22.28M | -29.66M |
| Financing Cash Flow | 36.58M | -12.50M | -8.77M |
Lumexa Imaging Holdings, Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $1.38B | -20.44 | -35.34% | ― | 20.20% | -0.81% | |
55 Neutral | $184.23M | -2.59 | -97.38% | ― | 5.22% | 20.85% | |
53 Neutral | $961.10M | -27.88 | -18.34% | ― | ― | ― | |
51 Neutral | $5.60B | -831.55 | -0.40% | 0.42% | 2.08% | -119.43% | |
47 Neutral | $120.39M | -1.41 | -47.09% | ― | 15.40% | -25.87% | |
46 Neutral | $486.46M | 52.93 | -13.86% | ― | 4.09% | -40.54% |
* Technology Sector Average
LMRI
Lumexa Imaging Holdings, Inc.
10.00
-8.52
-46.00%
BRKR
Bruker
36.79
-3.72
-9.19%
VREX
Varex Imaging
11.61
3.16
37.40%
BFLY
Butterfly Network
5.40
3.18
143.24%
NNOX
Nano-X Imaging
1.73
-3.31
-65.67%
HYPR
Hyperfine
1.87
1.20
178.69%
Lumexa Imaging Holdings, Inc. Corporate Events
Business Operations and StrategyFinancial Disclosures
Lumexa Imaging Posts Strong Q4 Growth, Reaffirms 2026 Outlook
Positive
Mar 26, 2026
Lumexa Imaging reported preliminary, unaudited results for the fourth quarter and full year ended Dec. 31, 2025, showing solid top-line growth and improving profitability despite ongoing net losses. Fourth-quarter consolidated revenue rose 7.9% ye...
Business Operations and StrategyFinancial Disclosures
Lumexa Imaging Announces Strong Preliminary 2025 Financial Results
Positive
Mar 2, 2026
Lumexa Imaging reported preliminary unaudited results on March 2, 2026, for the fourth quarter and full year ended December 31, 2025, highlighting an IPO, leverage reduction, and network expansion with nine new de novo centers and one acquisition....
Executive/Board Changes
Lumexa Imaging Announces Chief Legal Officer Resignation
Neutral
Jan 15, 2026
On January 12, 2026, Lumexa Imaging Holdings, Inc. announced that Chief Legal Officer and Corporate Secretary Julie Szeker had submitted her resignation, effective March 13, 2026, with the company clarifying that her departure did not arise from a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.