Fonar Corporation (FONR)

FONAR Announces Financial Results for Fiscal 2026 Third Quarter and Nine-Month PeriodMay 11, 2026 4:15 PM
NewsfileNet Income decreased 25% to $2.3 million for the quarter ended March 31, 2026 as compared to the quarter ended March 31, 2025. Income from Operations for the quarter ended March 31, 2026 decreased 33% to $2.4 million as compared to the quarter ended March 31, 2025. Diluted Net Income Per Common Share Available to Common Stockholders decreased 35% to $0.24 per share for the quarter ended March 31, 2026 as compared to the quarter ended March 31, 2025.Total Revenues-Net decreased 3% to $26.5 million for the quarter ended March 31, 2026 as compared to the quarter ended March 31, 2025. Total Cash, Cash Equivalents and Short-Term Investments decreased 4% to $53.8 million at March 31, 2026 as compared to June 30, 2025. Melville, New York--(Newsfile Corp. - May 11, 2026) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported today its financial results for the 3rd quarter of fiscal 2026 and the nine-month period ended March 31, 2026. FONAR's primary source of income and growth is attributable to its diagnostic imaging management subsidiary, Health Management Company of America (HMCA). In 2009, HMCA managed 9 MRI scanners. Currently, HMCA manages 45 MRI scanners.Operating ResultsTotal Revenues-Net for the quarter ended March 31, 2026 decreased 3% to $26.5 million as compared to $27.2 million for the quarter ended March 31, 2025. Total Revenues-Net for the nine-month period ended March 31, 2026 was $78.1 million as compared to $77.1 million for the nine-month period ended March 31, 2025. Selling, general & administrative costs (SG&A) increased 5% to $8.4 million for the quarter ended March 31, 2026 as compared to $8.0 million for the quarter ended March 31, 2025. SG&A increased 7% to $21.4 million for the nine-month period ended March 31, 2026 as compared to $20.1 million for the nine-month period ended March 31, 2025. Total Costs and Expenses were $24.0 million for the quarter ended March 31, 2026 and $23.5 million for the quarter ended March 31, 2025. Total Costs and Expenses for the nine-month period ended March 31, 2026 were $69.4 million compared to the nine-month period ended March 31, 2025 of $66.4 million.Income From Operations for the quarter ended March 31, 2026 decreased 33% to $2.4 million as compared to $3.7 million for the quarter ended March 31, 2025. Income From Operations for the nine-month period ended March 31, 2026 decreased 19 % to $8.6 million as compared to $10.7 million for the nine-month period ended March 31, 2025. Net Income for the quarter ended March 31, 2026 decreased 25% to $2.3 million as compared to $3.1 million for the quarter ended March 31, 2025. Net Income for the nine-month period ended March 31, 2026 decreased 19% to $7.5 million as compared to $9.3 million for the nine-month period ended March 31, 2025.Diluted Net Income per Common Share Available to Common Stockholders decreased 35% to $0.24 per share for the quarter ended March 31, 2026 as compared to $0.37 per share for the quarter ended March 31, 2025. Diluted Net Income Per Common Share Available to Common Stockholders for the nine-month period ended March 31, 2026 decreased 21% to $0.89 per share as compared to $1.12 per share for the nine-month period ended March 31, 2025.Balance Sheet ItemsTotal Cash and Cash Equivalents and Short-Term Investments at March 31, 2026 were $53.8 million as compared to the $56.5 million at June 30, 2025. Total Current Assets at March 31, 2026 were $148.0 million as compared to $144.7 million at June 30, 2025. Total Assets at March 31, 2026 were $219.2 million as compared to $216.9 million at June 30, 2025.Total Current Liabilities at March 31, 2026 were $16.1 million as compared to $17.1 million at June 30, 2025. Total Liabilities at March 31, 2026 were $54.8 million as compared to $56.8 million at June 30, 2025. Total Stockholders Equity at March 31, 2026 was $178.6 million as compared to $172.6 million at June 30, 2025. Financial RatiosThe ratio of Total Assets / Total Liabilities was 4.02 at March 31, 2026 as compared to 4.0 at June 30, 2025.The Current Ratio (Current Assets / Current Liabilities) was 9.2 as of March 31, 2026 as compared to 8.4 at June 30, 2025.Working Capital increased 4% to $131.9 million at March 31, 2026 as compared to $127.5 million at June 30, 2025.Cash Flow Statement ItemNet Cash Provided by Operating Activities was $3.4 million for the nine-month period ended March 31, 2026 as compared to $7.0 million for the nine-month period ended March 31, 2025. Management DiscussionTimothy Damadian, Chairman and CEO of FONAR, said, "I am pleased to report that our diagnostic imaging management subsidiary, Health Management Company of America (HMCA), the Company's primary source of revenue and profit, continues to grow. We currently manage 45 MRI throughout New York and Florida. Total scan volume in the third quarter of Fiscal 2026 was a record 55,660, 1.5% over that of the previous quarter (54,846), and 1.8% higher than that of the corresponding quarter of Fiscal 2025 (54,676). For the first nine months of fiscal 2026, MRI scan volume was 165,612, 3.0% higher than that of the corresponding period in Fiscal 2025 (160,844). "Most of the recent growth in scan volume is attributable to the addition of high-field MRIs at selected existing STAND-UP® MRI sites. The ability of these additional MRIs to provide extra-high-resolution imaging and special MRI applications has expanded the size of the sites' referral bases. We installed a 1.5T MRI at the STAND-UP® MRI site in Melville, NY in March of 2025, and a 3T MRI at the STAND-UP® MRI in Lynbrook, NY in October of 2025.""These high-field MRIs complement the Multi-Position™, "Non-Claustrophobic" STAND-UP® MRIs perfectly. Since the combination of a high-field MRI and a STAND-UP® MRI meets the full range of MRI needs at a single location, these sites are very appealing to both patients and referring physicians. Also, the added capacity provided by a second MRI eliminates costly scheduling backlogs. Referring doctors appreciate that if they refer their patients to an HMCA-managed, multi-scanner center, their patients will not have to wait days and days for their MRIs.""We expect to be managing an entirely new MRI center in Nassau County before the end of Fiscal 2026. As always, we continue to search for locations where the introduction of our technology and services would profitably enhance our existing New York and Florida networks."Mr. Damadian continued, "As previously reported, on July 7, 2025, the Board of Directors received a non-binding proposal from a group led by me, the Company's Chief Executive Officer, and Luciano Bonanni, the Company's Chief Operating Officer, pursuant to which the group would acquire all of the outstanding common stock and other securities of the Company not currently owned by members of the group. The Board of Directors established a Special Committee of independent and disinterested directors to evaluate the proposal and negotiate on behalf of the Company and its stockholders. With the assistance of its own independent financial and legal advisors, the Special Committee and the group engaged in negotiations related to the proposed going private transaction, addressing the definitive price to be paid for the Company's securities and other terms. These negotiations culminated in a merger agreement, the consummation of which remains subject to various conditions, including approval by the Company's stockholders and satisfaction of other customary closing conditions. There can be no assurance that the merger will be consummated or as to the timing of any such consummation. In accordance with the SEC's proxy rules, the Company has filed definitive proxy materials with the SEC in connection with obtaining stockholder approval of the merger at a special meeting of stockholders scheduled for May 28, 2026." "In light of the proposed going private transaction, we have continued the suspension of share repurchases under our stock repurchase program that had been established in September 2022." Mr. Damadian concluded, "As always, I remain grateful to our management team and all of our employees for making our company a success." Cautionary Statement Concerning Forward-Looking StatementsThis press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements within the meaning of the federal securities laws and as such are based upon the Company's current beliefs as to the outcome and timing of future events. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "approximately," "anticipate," "assume," "believe," "budget," "contemplate," "continue," "could," "estimate," "expect," "future," "hypothetical," "intend," "may," "outlook," "plan," "potential," "predict," "project," "seek," "should," "target," "will" or other similar words or expressions. There can be no assurance that actual results of forward-looking statements, including but not limited to the consummation of the proposed "Take Private" transaction, including the merger contemplated thereby, or those pertaining to expectations regarding the Company's financial performance, expectations as to the likelihood and timing of closing of acquisitions, dispositions, or other transactions, and changes in local, regional, and national economic conditions, including as a result of the systemic and structural changes in the healthcare industry. Forward-looking statements presented herein are based on management's beliefs and assumptions made by, and information currently available to, management.The forward-looking statements contained in this press release are based on historical performance and management's current plans, estimates and expectations in light of information currently available to the Company and are subject to uncertainty and changes in circumstances. There can be no assurance that future developments affecting the Company will be those that it has anticipated. Many factors, including the following, could cause actual results to differ materially from the forward-looking statements set forth in this press release: the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive merger agreement for the proposed "Take Private" transaction; the outcome of any legal proceedings that may be instituted against the Company and others following announcement of the definitive merger agreement; the inability to complete the proposed "Take Private" transaction, including the merger contemplated thereby, due to the failure to satisfy any condition to the closing, including that the Company obtains the requisite approvals of its stockholders and other closing conditions described in the definitive merger agreement; risks that the proposed merger disrupts current plans and operations of the Company; potential difficulties in employee retention as a result of the proposed transaction; legislative, regulatory and economic developments; risks related to disruption of management's attention from the Company's ongoing business operations due to the proposed Transaction; the effect of the announcement of the proposed transaction on the Company's relationships with referral sources and vendors, operating results and business generally, changes in global, regional or local political, economic, business, competitive, market, regulatory and other factors described in the Company's news releases and filings with the SEC, including but not limited to those described in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, as filed with the SEC on September 22, 2025 (the "Form 10-K") under the heading "Risk Factors" and in the Company's subsequent reports filed with the SEC, many of which are beyond the Company's control. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove to be incorrect, the Company's actual results may vary in material respects from what it may have expressed or implied by these forward-looking statements. The Company cautions that you should not place undue reliance on any of its forward-looking statements. Any forward-looking statement made by the Company in this press release speaks only as of the date of this press release. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company does not guarantee that the assumptions underlying such forward-looking statements contained in this press release are free from errors. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable securities laws.Additional Information and Where to Find ItThis communication is being made in respect of the proposed transaction involving FONAR, LLC and FONAR Acquisition Sub, Inc. (collectively, "Buyer") and the Company. In connection with the proposed transaction, (i) the Company has filed a definitive proxy statement on Schedule 14A with the SEC and (ii) certain participants in the transaction have jointly filed with the SEC a Schedule 13E-3 Transaction Statement, which contain important information on the Company, Buyer and the transaction, including the terms and conditions of the transaction. The Company has mailed the definitive proxy statement, the Schedule 13E-3 and a proxy card to each stockholder of the Company entitled to vote at a special meeting of the Company's stockholders to be held to consider the proposed transaction. This communication is not a substitute for the proxy statement, the Schedule 13E-3 or any other document that the Company may file with the SEC or send to its stockholders in connection with the proposed transaction. The materials filed by the Company with the SEC are available to the Company's investors and stockholders at no expense to them and copies may be obtained free of charge on the Company's website at www.fonar.com/investor-relations.html. In addition, all of those materials are available at no charge on the SEC's website at www.sec.gov. Investors and stockholders of the Company are urged to read the proxy statement, the Schedule 13E-3 and the other relevant materials before making any voting or investment decision with respect to the proposed transaction because they contain important information about the Company and the proposed transaction. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval.Stockholders of the Company are urged to read all relevant documents filed with the SEC, including the proxy statement and the Schedule 13E-3 Transaction Statement, as well as any amendments or supplements to these documents, carefully when they become available because they will contain important information about the transaction.Participants in the Proxy SolicitationThe Company and its directors, executive officers, other members of its management and employees may be deemed to be participants in the solicitation of proxies of the Company stockholders in connection with the proposed transaction under SEC rules. Investors and stockholders may obtain more detailed information regarding the names, affiliations and interests of the Company's executive officers and directors in the solicitation by reading the Form 10-K, the Company's proxy statement on Schedule 14A filed with the SEC on April 7, 2025, in connection with its 2025 annual meeting of stockholders, the definitive proxy statement, the Schedule 13E-3 Transaction Statement and other relevant materials filed with the SEC in connection with the proposed transaction. Information concerning the interests of the Company's participants in the solicitation, which may, in some cases, be different than those of the Company's stockholders generally, is set forth in the proxy statement relating to the proposed transaction and the Schedule 13E-3 Transaction Statement.WE URGE INVESTORS TO READ THE PROXY STATEMENT, SCHEDULE 13E-3 AND ANY OTHER RELEVANT DOCUMENTS FILED BY THE COMPANY IN CONNECTION WITH THE PROPOSED TRANSACTION CAREFULLY, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, BUYER AND THE PROPOSED TRANSACTION, INCLUDING THE MERGER. INVESTORS ARE URGED TO READ THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY.About FONARFONAR, The Inventor of MR Scanning™, located in Melville, NY, was incorporated in 1978, and is the first, oldest and most experienced MRI Company in the industry. FONAR went public in 1981 (NASDAQ: FONR). FONAR sold the world's first commercial MRI to Ronald J. Ross, MD, Cleveland, Ohio. It was installed in 1980. Dr. Ross and his team began the world's first clinical MRI trials in January 1981. The results were reported in the June 1981 edition of Radiology/Nuclear Medicine Magazine and the April 1982 peer-reviewed article in the Journal Radiology. The technique used for obtaining T1 and T2 values was the FONAR technique (Field fOcusing Nuclear mAgnetic Resonance), not the back projection technique. www.fonar.com/innovations-timeline.html.FONAR's signature product is the FONAR UPRIGHT® Multi-Position™ MRI (also known as the STAND-UP® MRI), the only whole-body MRI that performs Position™ Imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® Multi-Position™ MRI often detects patient problems that other MRI scanners cannot because they are lie-down, "weightless-only" scanners. The patient-friendly UPRIGHT® MRI has a near-zero patient claustrophobic rejection rate. As a FONAR customer states, "If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while watching TV.FONAR has new works-in-progress technology for visualizing and quantifying the cerebral hydraulics of the central nervous system, the flow of cerebrospinal fluid (CSF), which circulates throughout the brain and vertebral column at the rate of 32 quarts per day. This imaging and quantifying of the dynamics of this vital life-sustaining physiology of the body's neurologic system has been made possible first by FONAR's introduction of the MRI and now by this latest works-in-progress method for quantifying CSF in all the normal positions of the body, particularly in its upright flow against gravity. Patients with whiplash or other neck injuries are among those who will benefit from this new understanding.FONAR's primary source of income and growth is attributable to its wholly-owned diagnostic imaging management subsidiary, Health Management Company of America (HMCA) www.hmca.com.FONAR's substantial list of patents includes recent patents for its technology enabling full weight-bearing MRI imaging of all the gravity sensitive regions of the human anatomy, especially the brain, extremities and spine. It includes its newest technology for measuring the Upright cerebral hydraulics of the cerebrospinal fluid (CSF) of the central nervous system. FONAR's UPRIGHT® Multi-Position™ MRI is the only scanner licensed under these patents.UPRIGHT®, and STAND-UP® are registered trademarks. The Inventor of MR Scanning™, CSP™, MultiPosition™, UPRIGHT RADIOLOGY™, pMRI™, CFS Videography™, Dynamic™ and The Proof is in the Picture™, are trademarks of FONAR Corporation.This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.Fonar Corporation
The Inventor of MR Scanning™
An ISO 13485 Company
Melville, New York 11747
Phone: (631) 694-2929
Fax: (631) 390-1772NEWS
Contact: Daniel Culver
Director of Communications
E-mail: investor@fonar.com
www.fonar.comFONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts and shares in thousands, except per share amounts)ASSETS
March 31,
2026
(Unaudited) June 30,
2025
(Note 1)Current Assets:


 


Cash and cash equivalents$53,650
 $56,334
Short-term investments
122
 
120
Accounts receivable - net of allowances for credit losses of $124 and $264 at March 31, 2026 and June 30, 2025, respectively
4,717
 
5,305
Accounts receivable - related party
30
 
—
Medical receivable
25,592
 
24,490
Management and other fees receivable - net of allowances for credit losses of $11,930 and $14,296 at March 31, 2026 and June 30, 2025, respectively
48,608
 
43,401
Management and other fees receivable - related medical practices - net of allowances for credit losses of $9,320 and $7,137 at March 31, 2026 and June 30, 2025, respectively
10,042
 
9,748
Inventories - net
2,832
 
2,813
Prepaid expenses and other current assets - related party
940
 
411
Prepaid expenses and other current assets
1,474
 
2,050
          Total Current Assets
148,007
 
144,672
  
 
 
 
Accounts receivable - long-term
3,040
 
3,550
Deferred income tax asset
6,195
 
6,349
Property and equipment - net
18,199
 
18,532
Note receivable - related party
592
 
555
Right-of-use asset - operating leases
35,011
 
35,136
Right-of-use asset - finance lease
207
 
377
Goodwill
4,269
 
4,269
Other intangible assets - net
2,811
 
2,992
Other assets
891
 
476
          Total Assets$219,222
 $216,908
 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Amounts and shares in thousands, except per share amounts)LIABILITIES AND EQUITY
March 31,
2026
(Unaudited) June 30,
2025
(Note 1)Current Liabilities:


 


Accounts payable $2,287
 $1,302
Other current liabilities
4,695
 
6,975
Unearned revenue on service contracts
4,399
 
4,866
Unearned revenue on service contracts - related party
27
 
—
Operating lease liabilities - current portion
3,810
 
3,383
Finance lease liability - current portion
224
 
244
Customer deposits
681
 
354
Total Current Liabilities
16,123
 
17,124
  
 
 
 
Long-Term Liabilities:
 
 
 
Unearned revenue on service contracts
3,273
 
3,801
Deferred income tax liability
321
 
321
Due to related party medical practices
93
 
93
Operating lease liabilities - net of current portion
34,797
 
35,149
Finance lease liability - net of current portion
—
 
142
Other liabilities
159
 
173
  
 
 
 
Total Long-Term Liabilities
38,643
 
39,679
          Total Liabilities
54,766
 
56,803
 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Amounts and shares in thousands, except per share amounts)
LIABILITIES AND EQUITY (Continued)EQUITY:March 31, 2026
(Unaudited) 
June 30,
2025
(Note 1) Class A non-voting preferred stock $.0001 par value; 453 shares authorized at March 31, 2026 and June 30, 2025, 313 issued and outstanding at March 31, 2026 and June 30, 2025$—
 $—
Preferred stock $.001 par value; 567 shares authorized at March 31, 2026 and June 30, 2025, issued and outstanding - none
—
 
—
Common Stock $.0001 par value; 8,500 shares authorized at March 31, 2026 and June 30, 2025, 6,173 issued at March 31, 2026 and 6,203 at June 30, 2025, 6,168 outstanding at March 31, 2026 and June 30, 2025, respectively
1
 
1
Class B Common Stock (10 votes per share) $.0001 par value; 227 shares authorized at March 31, 2026 and June 30, 2025, 0.146 issued and outstanding at March 31, 2026 and June 30, 2025
—
 
—
Class C Common Stock (25 votes per share) $.0001 par value; 567 shares authorized at March 31, 2026 and June 30, 2025, 383 issued and outstanding at March 31, 2026 and June 30, 2025
—
 
—
Paid-in capital in excess of par value
178,292
 
178,757
Retained Earnings (Accumulated deficit)
672
 
(5,289)Treasury stock, at cost - 4 shares of common stock at March 31, 2026 and 35 at June 30, 2025
(395) 
(860) Total FONAR Corporation's Stockholders' Equity
178,570
 
172,609
Noncontrolling interests
(14,114) 
(12,504) Total Equity
164,456
 
160,105
Total Liabilities and Equity$219,222
 $216,908


 
 
 
 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts and shares in thousands, except per share amounts)
For the Three Months
Ended March 31,
(Unaudited)Revenues2026 2025Patient fee revenue - net of contractual allowances and discounts$8,085
 $8,853
Product sales
75
 
55
Service and repair fees
2,162
 
2,295
Service and repair fees - related parties
45
 
45
Management and other fees
13,118
 
12,929
Management and other fees - related medical practices
2,987
 
2,988
Total Revenues - Net
26,472
 
27,165
Cost and Expenses
 
 
 
Costs related to patient fee revenue
4,781
 
4,901
Costs related to product sales
277
 
319
Costs related to service and repair fees
1,163
 
1,182
Costs related to service and repair fees - related parties
7
 
58
Costs related to management and other fees
7,431
 
6,897
Costs related to management and other fees - related medical practices
1,572
 
1,714
Research and development
424
 
441
Selling, general and administrative expenses
8,373
 
7,991
Total Costs and Expenses
24,028
 
23,503
Income from Operations
2,444
 
3,662
Other income and (expenses):
 
 
 
Interest expense
(3) 
(7)Interest income - related party
12
 
13
Investment income
363
 
463
Other income (expense)
4
 
(1)Income Before Provision for Income Taxes and Noncontrolling Interests
2,820
 
4,130
Provision for income taxes
(492) 
(1,006)Consolidated Net Income
2,328
 
3,124
Net Income - Noncontrolling Interests
(687) 
(618)Net Income - Attributable to FONAR$1,641
 $2,506
Net Income Available to Common Stockholders$1,537
 $2,347
Net Income Available to Class A Non-Voting Preferred Stockholders$78
 $119
Net Income Available to Class C Common Stockholders$26
 $40
Basic Net Income Per Common Share Available to Common Stockholders$0.25
 $0.38
Diluted Net Income Per Common Share Available to Common Stockholders$0.24
 $0.37
Basic and Diluted Income Per Share - Class C Common$0.07
 $0.11
Weighted Average Basic Shares Outstanding - Common Stockholders
6,169
 
6,168
Weighted Average Diluted Shares Outstanding - Common Stockholders
6,296
 
6,296
Weighted Average Basic and Diluted Shares Outstanding - Class C Common
383
 
383
 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts and shares in thousands, except per share amounts)
For the Nine Months
Ended March 31,
(Unaudited)Revenues2026 2025Patient fee revenue - net of contractual allowances and discounts$22,953
 $24,284
Product sales
517
 
200
Service and repair fees
6,539
 
6,047
Service and repair fees - related parties
135
 
135
Management and other fees
38,956
 
37,447
Management and other fees - related medical practices
8,962
 
8,962
Total Revenues - Net
78,062
 
77,075
Cost and Expenses
 
 
 
Costs related to patient fee revenue
14,724
 
14,170
Costs related to product sales
816
 
761
Costs related to service and repair fees
3,434
 
3,211
Costs related to service and repair fees - related parties
26
 
154
Costs related to management and other fees
23,101
 
22,008
Costs related to management and other fees - related medical practices
4,579
 
4,888
Research and development
1,319
 
1,124
Selling, general and administrative expenses
21,425
 
20,055
Total Costs and Expenses
69,424
 
66,371
Income from Operations
8,638
 
10,704
Other income and (expenses):
 
 
 
Interest expense
(8) 
(21)Interest income - related party
36
 
39
Investment income
1,268
 
1,626
Other income (expense)
10
 
(1)Income Before Provision for Income Taxes and Noncontrolling Interests
9,944
 
12,347
Provision for income taxes
(2,407) 
(3,018)Consolidated Net Income
7,537
 
9,329
Net Income - Noncontrolling Interests
(1,576) 
(1,724)Net Income - Attributable to FONAR$5,961
 $7,605
Net Income Available to Common Stockholders$5,581
 $7,122
Net Income Available to Class A Non-Voting Preferred Stockholders$283
 $360
Net Income Available to Class C Common Stockholders$97
 $123
Basic Net Income Per Common Share Available to Common Stockholders$0.90
 $1.14
Diluted Net Income Per Common Share Available to Common Stockholders$0.89
 $1.12
Basic and Diluted Income Per Share - Class C Common$0.25
 $0.32
Weighted Average Basic Shares Outstanding - Common Stockholders
6,169
 
6,244
Weighted Average Diluted Shares Outstanding - Common Stockholders
6,296
 
6,372
Weighted Average Basic and Diluted Shares Outstanding - Class C Common
383
 
383
 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts and shares in thousands)
(UNAUDITED)
For the Nine Months
Ended March 31,
2026 2025Cash Flows from Operating Activities:


 


Consolidated net income$7,537
 $9,329
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
3,447
 
3,536
Net change in operating right-of-use assets and lease liabilities
370
 
15
(Recovery) provision for credit losses
(183) 
2,608
Abandoned patents
3
 
-
Deferred tax expense
154
 
878
Changes in operating assets and liabilities, net:
 
 
 
Accounts, medical and management fee receivable(s)
(5,352) 
(7,140)Notes receivable - related party
(37) 
(39)Inventories
(19) 
8
Prepaid expenses and other current assets
48
 
(1,093)Other assets
(415) 
6
Accounts payable
985
 
(631)Other current liabilities
(3,248) 
(549)Finance lease liabilities
(163) 
(153)Customer deposits
327
 
111
Other liabilities
(14) 
159
Net cash provided by operating activities
3,440
 
7,045
Cash Flows from Investing Activities:
 
 
 
Purchases of property and equipment
(2,435) 
(3,145)Cost of non-compete contract
(500) 
-
(Purchase) Proceeds from short-term investments
(2) 
13
Cost of patents
(1) 
(25)Net cash used in investing activities
(2,938) 
(3,157) Cash Flows from Financing Activities:
 
 
 
Repayment of borrowings and capital lease obligations
-
 
(114)Sale of noncontrolling interest
-
 
132
Purchase of treasury stock
-
 
(1,806)Distributions to noncontrolling interests
(3,186) 
(4,184)Net cash used in financing activities
(3,186) 
(5,972) Net Decrease in Cash and Cash Equivalents
(2,684) 
(2,084)Cash and Cash Equivalents - Beginning of Period
56,334
 
56,341
Cash and Cash Equivalents - End of Period$53,650
 $54,257
 To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296996 Original: FONAR Announces Financial Results for Fiscal 2026 Third Quarter and Nine-Month Period

Fonar Announces Financial Results for The 2nd Quarter of Fiscal 2026February 13, 2026 4:30 PM
NewsfileCash and cash equivalents decreased 6% to $53.0 million at December 31, 2025, as compared to $56.3 million for the fiscal year-ended June 30, 2025.Total Revenues - Net increased by 2% to $25.5 million for the quarter ended December 31, 2025, versus the corresponding quarter one year earlier. Total Revenues - Net increased by 3% to $51.6 million for the six-month period ended December 31, 2025, versus the corresponding six-month period one year earlier.Net Income increased 15% to $2.5 million for the quarter ended December 31, 2025, versus the corresponding quarter one year earlier. Net Income decreased by 16% to $5.2 million for the six-month period ended December 31, 2025, versus the corresponding six-month period one year earlier.Diluted Net Income per Common Share increased 7% to $0.31 for the quarter ended December 31, 2025, versus the corresponding quarter one year earlier. Diluted Net Income per Common Share decreased 11% to $0.66 for the six-month period ended December 31, 2025, versus the corresponding six-month period one year earlier.On December 29, 2025, the Company announced that a definitive merger agreement for the previously announced "Take Private" offer was signed. The agreement included an increase per common share of $19.00 per common share in cash, from the price previously offered in July of 2025 of $17.25 per common share.Melville, New York--(Newsfile Corp. - February 13, 2026) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported today its financial results for the second quarter of fiscal 2026 which ended December 31, 2025. FONAR's primary source of income is attributable to its wholly-owned diagnostic imaging management subsidiary, Health Management Company of America (HMCA). In 2009, HMCA managed 9 MRI scanners. Currently, HMCA manages 45 MRI scanners in New York and in Florida. Financial Results Income Statement Items Total Revenues-Net for the quarter ended December 31, 2025, increased 2% to $25.5 million, as compared to $25.0 million for the corresponding quarter ended December 31, 2024. Total Revenues-Net for the six-month period ended December 31, 2025, increased 3% to $51.6 million, as compared to $50.0 million for the corresponding six-month period ended December 31, 2024. Income from Operations for the quarter ended December 31, 2025, increased 23% to $3.0 million as compared to $2.4 million for the corresponding quarter ended December 31, 2024. Income from Operations for the six-month period ended December 31, 2025, decreased 12% to $6.2 million as compared to $7.0 million for the corresponding six-month period ended December 31, 2024. Net Income for the quarter ended December 31, 2025, increased 15% to $2.5 million as compared to $2.2 million for the corresponding quarter ended December 31, 2024. Net Income for the six-month period ended December 31, 2025, decreased 16% to $5.2 million as compared to $6.2 million for the corresponding six-month period ended December 31, 2024. Diluted Net Income per Common Share Available to Common Stockholders for the quarter ended December 31, 2025, increased 7% to $0.31 as compared to $0.29 for the corresponding quarter ended December 31, 2024. Diluted Net Income per Common Share Available to Common Stockholders for the six-month period ended December 31, 2025, decreased 11% to $0.66 as compared to $0.74 for the corresponding six-month period ended December 31, 2024. Selling, general & administrative expenses (SG&A) for the quarter ended December 31, 2025, decreased 10% to $6.2 million as compared to $6.9 million for the corresponding quarter ended December 31, 2024. SG&A for the six-month period ended December 31, 2025, increased 8% to $13.1 million as compared to $12.1 million for the corresponding six-month period ended December 31, 2024. Cash Flow Statement ItemOperating Cash Flow for the six-month period ended December 31, 2025, decreased 52% to $1.9 million, compared to $3.9 million for the six-month period ended December 31, 2024. Balance Sheet ItemsCash and cash equivalents and short-term investments were $53.1 million at December 31, 2025, as compared to $56.3 million at June 30, 2025. Total Current Assets at December 31, 2025, were $143.7 million as compared to $144.7 million at June 30, 2025. Total Assets were $217.2 million at December 31, 2025, as compared to $216.9 million at June 30, 2025. Total Current Liabilities were $14.4 million at December 31, 2025, as compared to $17.1 million at June 30, 2025. Total Liabilities at December 31, 2025, were $54.4 million, as compared to $56.8 million at June 30, 2025. Total Stockholders' Equity at December 31, 2025, was $162.9 million, as compared to $160.1 million at June 30, 2025. Financial RatiosThe ratio of Total Assets / Total Liabilities at December 31, 2025, was 4.0 as compared to 3.8 at June 30, 2024. Working Capital was $129.3 million at December 31, 2025, as compared to $127.5 million at June 30, 2024. Net Book Value Per Common Share was $25.69 per share at December 31, 2025, as compared to $24.68 at December 31, 2024. Management Discussion Timothy Damadian, Chairman and CEO of FONAR, said, "Our diagnostic imaging management subsidiary, Health Management Company of America (HMCA), the Company's primary source of revenue and profit, continues to grow. Scan volume in the second quarter of Fiscal 2026 was 54,846, 0.5% lower than that of the previous quarter (55,106), and 3.3% higher than that of the corresponding quarter of Fiscal 2025 and the third highest quarterly scan volume in HMCA history." "In October, 2025, we added a high-field MRI at an existing STAND-UP® site in Lynbrook, Nassau County, New York. The average monthly scan volume in the quarter preceding its installation was 579. Since the installation of the high-field MRI, scan volume has grown steadily, reaching 752 in January of 2026, a 30% increase.""For instances where extra-high-resolution imaging or special applications are required, a high-field MRI meets those needs and also perfectly complements the STAND-UP® MRI. The STAND-UP® MRI is the most patient-friendly MRI, the only MRI that can scan patients in weight-bearing positions, and the only MRI that can scan spines in flexion and extension. With both the STAND-UP® MRI and high-field MRI at the same location, patients and their referring doctors have easy access to the best of both MRI worlds. The addition of second or even third MRI at an existing site also reduces patient backlogs. Doctors know that if they refer their patients to a multi-scanner center managed by HMCA, the patients will get their MRIs completed without delay." "We continue to search for locations where the introduction of our technology and services would profitably enhance our existing New York and Florida networks."Mr. Damadian concluded, "As always, I remain grateful to our management team and all of our employees for making our company a success." Company EventsPlease refer to the Company's Form 8-K filed with the SEC on December 30, 2025 for information about the Company's recent entry into a definitive merger agreement for the proposed "Take Private" transaction.Cautionary Statement Concerning Forward-Looking StatementsThis press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements within the meaning of the federal securities laws and as such are based upon the Company's current beliefs as to the outcome and timing of future events. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "approximately," "anticipate," "assume," "believe," "budget," "contemplate," "continue," "could," "estimate," "expect," "future," "hypothetical," "intend," "may," "outlook," "plan," "potential," "predict," "project," "seek," "should," "target," "will" or other similar words or expressions. There can be no assurance that actual results of forward-looking statements, including but not limited to the consummation of the proposed "Take Private" transaction, including the merger contemplated thereby, or those pertaining to expectations regarding the Company's financial performance, expectations as to the likelihood and timing of closing of acquisitions, dispositions, or other transactions, and changes in local, regional, and national economic conditions, including as a result of the systemic and structural changes in the healthcare industry. Forward-looking statements presented herein are based on management's beliefs and assumptions made by, and information currently available to, management.The forward-looking statements contained in this press release are based on historical performance and management's current plans, estimates and expectations in light of information currently available to the Company and are subject to uncertainty and changes in circumstances. There can be no assurance that future developments affecting the Company will be those that it has anticipated. Many factors, including the following, could cause actual results to differ materially from the forward-looking statements set forth in this press release: the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive merger agreement for the proposed "Take Private" transaction; the outcome of any legal proceedings that may be instituted against the Company and others following announcement of the definitive merger agreement; the inability to complete the proposed "Take Private" transaction, including the merger contemplated thereby, due to the failure to satisfy any condition to the closing, including that the Company obtains the requisite approvals of its stockholders and other closing conditions described in the definitive merger agreement; risks that the proposed merger disrupts current plans and operations of the Company; potential difficulties in employee retention as a result of the proposed transaction; legislative, regulatory and economic developments; risks related to disruption of management's attention from the Company's ongoing business operations due to the proposed Transaction; the effect of the announcement of the proposed transaction on the Company's relationships with referral sources and vendors, operating results and business generally, changes in global, regional or local political, economic, business, competitive, market, regulatory and other factors described in the Company's news releases and filings with the SEC, including but not limited to those described in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, as filed with the SEC on September 22, 2025 (the "Form 10-K") under the heading "Risk Factors" and in the Company's subsequent reports filed with the SEC, many of which are beyond the Company's control. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove to be incorrect, the Company's actual results may vary in material respects from what it may have expressed or implied by these forward-looking statements. The Company cautions that you should not place undue reliance on any of its forward-looking statements. Any forward-looking statement made by the Company in this press release speaks only as of the date of this press release. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company does not guarantee that the assumptions underlying such forward-looking statements contained in this press release are free from errors. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable securities laws.Additional Information and Where to Find ItThis communication is being made in respect of the proposed transaction involving FONAR, LLC and FONAR Acquisition Sub, Inc. (collectively, "Buyer") and the Company. In connection with the proposed transaction, (i) the Company intends to file the relevant materials with the SEC, including a proxy statement on Schedule 14A and (ii) certain participants in the transaction intend to jointly file with the SEC a Schedule 13E-3 Transaction Statement, which will contain important information on the Company, Buyer and the transaction, including the terms and conditions of the transaction. Promptly after filing its definitive proxy statement with the SEC, the Company will mail the definitive proxy statement, the Schedule 13E-3 and a proxy card to each stockholder of the Company entitled to vote at a special meeting of the Company's stockholders to be held to consider the proposed transaction. This communication is not a substitute for the proxy statement, the Schedule 13E-3 or any other document that the Company may file with the SEC or send to its stockholders in connection with the proposed transaction. The materials to be filed by the Company will be made available to the Company's investors and stockholders at no expense to them and copies may be obtained free of charge on the Company's website at www.fonar.com/investor-relations.html. In addition, all of those materials will be available at no charge on the SEC's website at www.sec.gov. Investors and stockholders of the Company are urged to read the proxy statement, the Schedule 13E-3 and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction because they contain important information about the Company and the proposed transaction. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval.Stockholders of the Company are urged to read all relevant documents filed with the SEC, including the proxy statement and the Schedule 13E-3 Transaction Statement, as well as any amendments or supplements to these documents, carefully when they become available because they will contain important information about the transaction.Participants in the Proxy SolicitationThe Company and its directors, executive officers, other members of its management and employees may be deemed to be participants in the solicitation of proxies of the Company stockholders in connection with the proposed transaction under SEC rules. Investors and stockholders may obtain more detailed information regarding the names, affiliations and interests of the Company's executive officers and directors in the solicitation by reading the Form 10-K, the Company's proxy statement on Schedule 14A filed with the SEC on April 7, 2025, in connection with its 2025 annual meeting of stockholders, and the proxy statement, the Schedule 13E-3 Transaction Statement and other relevant materials that will be filed with the SEC in connection with the proposed transaction when they become available. Information concerning the interests of the Company's participants in the solicitation, which may, in some cases, be different than those of the Company's stockholders generally, will be set forth in the proxy statement relating to the proposed transaction and the Schedule 13E-3 Transaction Statement when they become available.WE URGE INVESTORS TO READ THE PROXY STATEMENT, SCHEDULE 13E-3 AND ANY OTHER RELEVANT DOCUMENTS FILED BY THE COMPANY IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, BUYER AND THE PROPOSED TRANSACTION, INCLUDING THE MERGER. INVESTORS ARE URGED TO READ THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY.About FONARFONAR, The Inventor of MR Scanning™, located in Melville, NY, was incorporated in 1978, and is the first, oldest and most experienced MRI Company in the industry. FONAR (NASDAQ: FONR) went public in 1981. FONAR sold the world's first commercial MRI to Ronald J. Ross, MD, Cleveland, Ohio. It was installed in 1980. Dr. Ross and his team began the world's first clinical MRI trials in January 1981. The results were reported in the June 1981 edition of Radiology/Nuclear Medicine Magazine and the April 1982 peer-reviewed article in the Journal Radiology. The technique used for obtaining T1 and T2 values was the FONAR technique (Field fOcusing Nuclear mAgnetic Resonance), not the back projection technique. www.fonar.com/innovations-timeline.html.FONAR's signature product is the FONAR UPRIGHT® Multi-Position™ MRI (also known as the STAND-UP® MRI), the only whole-body MRI that performs Position™ Imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® Multi-Position™ MRI often detects patient problems that other MRI scanners cannot because they are lie-down, "weightless-only" scanners. The patient-friendly UPRIGHT® MRI has a near-zero patient claustrophobic rejection rate. As a FONAR customer states, "If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while watching TV.FONAR has new works-in-progress technology for visualizing and quantifying the cerebral hydraulics of the central nervous system, the flow of cerebrospinal fluid (CSF), which circulates throughout the brain and vertebral column at the rate of 32 quarts per day. This imaging and quantifying of the dynamics of this vital life-sustaining physiology of the body's neurologic system has been made possible first by FONAR's introduction of the MRI and now by this latest works-in-progress method for quantifying CSF in all the normal positions of the body, particularly in its upright flow against gravity. Patients with whiplash or other neck injuries are among those who will benefit from this new understanding.FONAR's primary source of income and growth is attributable to its wholly-owned diagnostic imaging management subsidiary, Health Management Company of America (HMCA) www.hmca.com.FONAR's substantial list of patents includes recent patents for its technology enabling full weight-bearing MRI imaging of all the gravity sensitive regions of the human anatomy, especially the brain, extremities and spine. It includes its newest technology for measuring the Upright cerebral hydraulics of the cerebrospinal fluid (CSF) of the central nervous system. FONAR's UPRIGHT® Multi-Position™ MRI is the only scanner licensed under these patents.#UPRIGHT®, and STAND-UP® are registered trademarks. The Inventor of MR Scanning™, CSP™, MultiPosition™, UPRIGHT RADIOLOGY™, pMRI™, CFS Videography™, Dynamic™ and The Proof is in the Picture™, are trademarks of FONAR Corporation.This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.Fonar Corporation
The Inventor of MR Scanning™
An ISO 9001 Company
Melville, New York 11747
Phone: (631) 694-2929
Fax: (631) 390-1772NEWS
Contact: Daniel Culver
Director of Communications
E-mail: investor@fonar.com
www.fonar.comFONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts and shares in thousands, except per share amounts)ASSETS December 31,
2025
(Unaudited)   June 30,
2025 Current Assets:      Cash and cash equivalents $ 52,977   $56,334 Short-term investments  121   120 Accounts receivable - net of allowances for credit losses of $260 and $264 at December 31, 2025
and June 30, 2025, respectively  4,755   5,305 Accounts receivable - related party  60   — Medical receivable   24,470   24,490 Management and other fees receivable - net of allowances for credit losses of $12,448 and $14,296
at December 31, 2025 and June 30, 2025, respectively  46,482   43,401Management and other fees receivable - related medical practices - net of allowances for credit
losses
of $8,648 and $7,137 at December 31, 2025 and June 30, 2025, respectively  9,951   9,748 Inventories - net  2,754   2,813 Prepaid expenses and other current assets - related party  321   411 Prepaid expenses and other current assets  1,821   2,050             Total Current Assets  143,712   144,672      Accounts receivable - long term  3,428   3,550 Deferred income tax asset  6,153   6,349 Property and equipment - net  18,915   18,532 Note receivable - related party  580   555 Right-of-use asset - operating leases  35,980   35,136 Right-of-use asset - finance lease  264   377 Goodwill  4,269   4,269 Other intangible assets - net  3,032   2,992 Other assets  891   476             Total Assets $ 217,224   $216,908 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Amounts and shares in thousands, except per share amounts)LIABILITIES AND EQUITY December 31,
2025
(Unaudited)  June 30,
2025 Current Liabilities:   Accounts payable  $1,912  $1,302Other current liabilities 3,336  6,975 Unearned revenue on service contracts 4,473  4,866 Unearned revenue on service contracts - related party 55  — Operating lease liabilities - current portion 3,750  3,383 Finance lease liability - current portion 244  244Customer deposits 601  354Total Current Liabilities 14,371  17,124   Long-Term Liabilities:    Unearned revenue on service contracts 3,594  3,801 Deferred income tax liability 321  321 Due to related party medical practices 93  93 Operating lease liabilities - net of current portion 35,765  35,149 Finance lease liability - net of current portion 41  142 Other liabilities 177  173   Total Long-Term Liabilities 39,991  39,679           Total Liabilities 54,362  56,803 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Amounts and shares in thousands, except per share amounts)LIABILITIES AND EQUITY (Continued)EQUITY: December 31, 2025
(Unaudited)   June 30,
2025Class A non-voting preferred stock $.0001 par value; 453
shares authorized at December 31, 2025 and June 30, 2025,
313 issued and outstanding at December 31, 2025 and June 30, 2025 $—   $—Preferred stock $.001 par value; 567 shares authorized at December 31, 2025
and June 30, 2024, issued and outstanding - none —   —Common Stock $.0001 par value; 8,500 shares authorized at December 31, 2025
and June 30, 2025, 6,203 issued at December 31, 2025 and June 30, 2025, 6,168
outstanding at December 31, 2025 and June 30, 2025, respectively 1   1Class B Common Stock (10 votes per share) $.0001 par value; 227 shares authorized
at December 31, 2025 and June 30, 2025, 0.146 issued and outstanding at
December 31, 2025 and June 30, 2025 —   — Class C Common Stock (25 votes per share) $.0001 par value; 567 shares authorized
at December 31, 2025 and June 30, 2025, 383 issued and outstanding at
December 31, 2025 and June 30, 2025 —   — Paid-in capital in excess of par value 178,757   178,757 Accumulated deficit (969)   (5,289)Treasury stock, at cost - 35 shares of common stock at December 31, 2025
and at June 30, 2025 (860)   (860) Total FONAR Corporation's Stockholders' Equity 176,929   172,609 Noncontrolling interests (14,067)   (12,504) Total Equity 162,862   160,105 Total Liabilities and Equity $217,224   $216,908 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts and shares in thousands, except per share amounts)  For the Three Months
Ended December 31,
(Unaudited)Revenues  2025  2024Patient fee revenue - net of contractual allowances and discounts  $7,296  $7,944Product sales  126  25Service and repair fees  2,195  1,759Service and repair fees - related parties  45  45Management and other fees  12,897  12,189Management and other fees - related medical practices  2,988  2,988Total Revenues - Net  25,547  24,950Cost and Expenses    Costs related to patient fee revenue  5,014  4,623Costs related to product sales  215  221Costs related to service and repair fees  1,212  938Costs related to service and repair fees - related parties  11  28Costs related to management and other fees  7,858  7,801Costs related to management and other fees - related medical practices  1,543  1,601Research and development  455  376Selling, general and administrative expenses  6,239  6,927Total Costs and Expenses  22,547  22,515Income from Operations  3,000  2,435Other income and (expenses):    Interest expense  (4)  (6)Interest income - related party  12  13Investment income  431  524Other income (expense)  3  1Income Before Provision for Income Taxes and Noncontrolling Interests  3,442  2,967Provision for income taxes  (903)  (762)Consolidated Net Income  2,539  2,205Net Income - Noncontrolling Interests  (483)  (241)Net Income - Attributable to FONAR  $2,056  $1,964Net Income Available to Common Stockholders  $1,924  $1,840Net Income Available to Class A Non-Voting Preferred Stockholders  $98  $93Net Income Available to Class C Common Stockholders  $34  $31Basic Net Income Per Common Share Available to Common Stockholders  $0.31  $0.29Diluted Net Income Per Common Share Available to Common Stockholders  $0.31  $0.29Basic and Diluted Income Per Share - Class C Common  $0.09  $0.08Weighted Average Basic Shares Outstanding - Common Stockholders  6,169  6,303Weighted Average Diluted Shares Outstanding - Common Stockholders  6,296  6,431Weighted Average Basic and Diluted Shares Outstanding - Class C Common  383  383 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts and shares in thousands, except per share amounts)  For the Six Months
Ended December 31,
(Unaudited)Revenues  2025   2024Patient fee revenue - net of contractual allowances and discounts  $14,868   $15,431Product sales  442   145Service and repair fees  4,377   3,751Service and repair fees - related parties  90   90Management and other fees  25,838   24,518Management and other fees - related medical practices  5,975   5,975Total Revenues - Net  51,590   49,910Cost and Expenses     Costs related to patient fee revenue  9,943   9,269Costs related to product sales  539   442Costs related to service and repair fees  2,271   2,029Costs related to service and repair fees - related parties  19   96Costs related to management and other fees  15,670   15,111Costs related to management and other fees - related medical practices  3,007   3,174Research and development  895   683Selling, general and administrative expenses  13,052   12,065Total Costs and Expenses  45,396   42,869Income from Operations  6,194   7,041Other income and (expenses):     Interest expense  (5)   (14)Interest income - related party  24   26Investment income  905   1,163Other income (expense)  6   —Income Before Provision for Income Taxes and Noncontrolling Interests  7,124   8,216Provision for income taxes  (1,915)   (2,011)Consolidated Net Income  5,209   6,205Net Income - Noncontrolling Interests  (889)   (1,106)Net Income - Attributable to FONAR  $4,320   $
5,099Net Income Available to Common Stockholders  $4,044   $4,775Net Income Available to Class A Non-Voting Preferred Stockholders  $206   $241Net Income Available to Class C Common Stockholders  $70   $83Basic Net Income Per Common Share Available to Common Stockholders  $0.66   $0.76Diluted Net Income Per Common Share Available to Common Stockholders  $0.66   $0.74Basic and Diluted Income Per Share - Class C Common  $0.18   $0.22Weighted Average Basic Shares Outstanding - Common Stockholders  6,169   6,313Weighted Average Diluted Shares Outstanding - Common Stockholders  6,296   6,441Weighted Average Basic and Diluted Shares Outstanding - Class C Common  383   383 FONAR CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts and shares in thousands)
(UNAUDITED) For the Six Months
Ended December 31, 2025  2024Cash Flows from Operating Activities:     Consolidated Net income $ 5,456  $6,205 Adjustments to reconcile consolidated net income to net cash provided by operating activities:    Depreciation and amortization  2,341  2,298Net change in operating right-of-use assets and lease liabilities  253  (63)(Recovery) Provision for credit losses  (337)  1,279Deferred tax expense  35  1,111Changes in operating assets and liabilities, net:    Accounts, medical and management fee receivable(s)  (2,315)  (435)Notes receivable - related party  (25)  (26)Inventories  59  (143)Prepaid expenses and other current assets  232  (677)Other assets  (415)  (11)Accounts payable  609  (903)Other current liabilities  (4,184)  (4,556)Finance lease liabilities  (102)  (86)Customer deposits  247  (87)Other liabilities  6  (7)Net cash provided by operating activities  1,860  3,899 Cash Flows from Investing Activities:    Purchases of property and equipment  (2,264)  (2,552)Cost of non-compete contract  (500)  —Proceeds from short-term investments  —  15Cost of patents  (1)  (20)Net cash used in investing activities  (2,765)  (2,557) Cash Flows from Financing Activities:     Repayment of borrowings and capital lease obligations  —  (58)Sale of noncontrolling interest  —  132Purchase of treasury stock  —  (1,341) Distributions to noncontrolling interests  (2,452)  (2,833)Net cash used in financing activities  (2,452)  (4,100) Net (Decrease) in Cash and Cash Equivalents  (3,357)  (2,758)Cash and Cash Equivalents - Beginning of Period  56,334  56,341Cash and Cash Equivalents - End of Period $ 52,977  $53,583 To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283879
Original: Fonar Announces Financial Results for The 2nd Quarter of Fiscal 2026

Nice to see Fonar has risen 30% during the past 2 months. This one was nicely undervalued. Still the acquiring group is getting a steal !
FONR went from $14.50 to over $18.50 in the past 2 months.
(almost as good as my CENX which went from $14.50 to over $47 per share).

$19 buyout 

$18

Seriously. THIS is the one stock you've been bullish on?

Slim6

Re: None

Thursday, June 05, 2025 3:01:55 PM

Post#
692
of 694
Revenues are going to new records, now over $27 million for the latest quarter. Net income is climbing rapidly. In the prior year's quarter they had 27 cents per share of net income, now they have 37 cents per share of net income for the latest quarter. This is 37% earning growth rate. This is better growth rate than 80% of companies. I think FONR showed have a PE of more than 20X. That puts a valuation on FONR stock price at over $24 per share. FONR stock is a great bargain while below $24 per share.

FONR price rising to $17.25 per share, still an extreme bargain !
Management (Proposed Acquisition Group) wants to get the company (FONAR) for a bargain, trying to get it far below net tangible book value.

Good move by Damadian. The company FONR is very undervalued. The intrinsic value of the company based on the financials (even being very conservative) is about $35 per share.
If one were to take the fact that they are consistently able to bring in net income of $7 million per year and that the tangible book value grows and is now up to $164 million, one will find the total market cap should be around 15*(annual net income) + tangible book value = $15*7 million + $164 million, which is $269 million.
And since there are only 6.3 million total shares outstanding, that indicates reasonable valuation is $42.70 per share. Management knows anything below $35 per share is a steal. Of course, they are taking this cash cow private.

Revenues are going to new records, now over $27 million for the latest quarter. Net income is climbing rapidly. In the prior year's quarter they had 27 cents per share of net income, now they have 37 cents per share of net income for the latest quarter. This is 37% earning growth rate. This is better growth rate than 80% of companies. I think FONR showed have a PE of more than 20X. That puts a valuation on FONR stock price at over $24 per share. FONR stock is a great bargain while below $24 per share.

On September 13, 2022, FONAR announcemed a stock repurchase plan of up to $9 million, the Company has repurchased $3,644,101 of undervalued FONR stock and continues to buy more. This is better than a dividend as shareholders don't have to pay any taxes on these repurchases.

FONR earning $1.59 per share for the most recent 12 months (and paying as much dividend as AMD). FONR is strongly free cash flow positive.

When was the last time the company paid a dividend?

$FONR Shareholder Equity
Shares Outstanding 6.4 M
Institutional Ownership 49.97%
Number of Floating Shares 6.2 M
Short Interest as % of Float 0.17%

News: $FONR FONAR Announces Year-End Earnings For Fiscal 2019

Cash and cash equivalents and Short term investments increased by 48% to $29.0 million during the fiscal year ended June 30, 2019. Total Revenues-Net increased by 7% to $87.2 million for the fiscal year ended June 30, 2019, versus previous fiscal year. Income from Operations increased 1...

Got this from FONR - FONAR Announces Year-End Earnings For Fiscal 2019

Long term holder. What is going on? Just retracing to yearly high?, even better earnings?, buying another competitor?, or buyout?

And yet fails to trade above Thursday’s close ?

4X average volume up 8% in Thursday before Easter
?!?!

4th quarter estimates anyone?
I've followed FONR for ...28 years since I met Dr Carlton Hazelwood who worked with Dr Damadian. An amazing story
Finally bought this year !
The Great Leslie

FONR bullish 19.74

$FONR recent news/filings

bullish 17.78
shorts will cover when they realize it's not a double top

## source: finance.yahoo.com

Tue, 08 Dec 2015 18:17:40 GMT ~ FONAR CORP Financials


read full: http://finance.yahoo.com/q/is?s=fonr
*********************************************************

Tue, 10 Nov 2015 16:49:57 GMT ~ FONAR CORP Files SEC form 8-K, Results of Operations and Financial Condition


read full: http://biz.yahoo.com/e/151110/fonr8-k.html
*********************************************************

Mon, 09 Nov 2015 15:26:08 GMT ~ FONAR Announces Fiscal 2016 1st Quarter Financial Results

[at noodls] - MELVILLE, NEW YORK, November 9, 2015 - FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning™, reported its first quarter fiscal 2016 results for the quarter ended September 30, 2015. FONAR is the ...

read full: http://www.noodls.com/view/79409561196A52B5A7B59D278B20A18DDB3341D2
*********************************************************

Mon, 09 Nov 2015 11:24:07 GMT ~ FONAR CORP Files SEC form 10-Q, Quarterly Report


read full: http://biz.yahoo.com/e/151109/fonr10-q.html
*********************************************************

Mon, 09 Nov 2015 11:00:00 GMT ~ FONAR Announces Fiscal 2016 1st Quarter Financial Results

[Marketwired] - FONAR Corporation

read full: http://finance.yahoo.com/news/fonar-announces-fiscal-2016-1st-110000875.html
*********************************************************

$FONR charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$FONR company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/FONR/company-info
Ticker: $FONR
OTC Market Place: Not Available
CIK code: 0000355019
Company name: Fonar Corp.
Incorporated In: DE, USA

$FONR share structure

## source: otcmarkets.com

Market Value: $107,583,935 a/o Dec 11, 2015
Shares Outstanding: 6,050,840 a/o Sep 05, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.0001

$FONR extra dd links

Company name: Fonar Corp.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/FONR/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/FONR/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=FONR+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=FONR+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=FONR+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/FONR/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/news - http://finance.yahoo.com/q/h?s=FONR+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/FONR/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/FONR/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/FONR/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/FONR/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/FONR/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/FONR/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/FONR/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=FONR+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/FONR
DTCC (dtcc.com): http://search2.dtcc.com/?q=Fonar+Corp.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Fonar+Corp.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Fonar+Corp.&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/FONR/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/FONR
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/FONR/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/FONR/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/FONR/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000355019&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/FONR/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/FONR/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=FONR&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=FONR
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=FONR+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=FONR+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=FONR
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=FONR
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=FONR+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/FONR/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=FONR+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/FONR.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=FONR
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/FONR/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/FONR/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/FONR/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/FONR
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/FONR
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/FONR:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=FONR
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=FONR



$FONR DD Notes ~ http://www.ddnotesmaker.com/FONR

Silly IHub for sure. My broker was pounding the table for FONR at 10 and below. I'm glad I listened. He believes it's going much higher. We shall see.

Nobody posts to listed boards...Pity

Got in @ 12 here but nobody seems to GAS. Guess I'll just keep banking. Silly iHub
§FONR

bottom fishing time to load $10.00

On watch...

$FONR recent news/filings

bullish

## source: finance.yahoo.com

Thu, 14 Aug 2014 17:17:11 GMT ~ Nasdaq stocks posting largest percentage increases


read full: http://finance.yahoo.com/news/nasdaq-stocks-posting-largest-percentage-230628770.html
*********************************************************

Tue, 24 Jun 2014 21:27:42 GMT ~ FONAR CORP Files SEC form 8-K, Submission of Matters to a Vote of Security Holders


read full: http://biz.yahoo.com/e/140624/fonr8-k.html
*********************************************************

Fri, 23 May 2014 17:04:15 GMT ~ FONAR CORP Financials


read full: http://finance.yahoo.com/q/is?s=fonr
*********************************************************

Wed, 21 May 2014 11:00:00 GMT ~ FONAR UPRIGHT MRI Scan Leads to Successful Treatment for Former NFL Quarterback

[Marketwired] - FONAR Corporation , The Inventor of MR Scanning™, reported that after being diagnosed in November 2012 on the FONAR UPRIGHT® Multi-Position™ MRI , former NFL quarterback, Jim McMahon, who suffered from ...

read full: http://finance.yahoo.com/news/fonar-upright-mri-scan-leads-110000006.html
*********************************************************

Thu, 15 May 2014 21:31:42 GMT ~ FONAR CORP Files SEC form 8-K, Results of Operations and Financial Condition


read full: http://biz.yahoo.com/e/140515/fonr8-k.html
*********************************************************


$FONR charts

basic chart ## source: stockcharts.com



basic chart ## source: eoddata.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com


$FONR company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/FONR/company-info
Ticker: $FONR
OTC Market Place: Not Available
CIK code: 0000355019
Company name: Fonar Corp.
Incorporated In: DE, USA


$FONR share structure

## source: otcmarkets.com

Market Value: $85,074,059 a/o Aug 14, 2014
Shares Outstanding: 6,025,075 a/o Jan 31, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.0001
$FONR extra dd links

Company name: Fonar Corp.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/FONR/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/FONR/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=FONR+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=FONR+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=FONR+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/FONR/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/news - http://finance.yahoo.com/q/h?s=FONR+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/FONR/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/FONR/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/FONR/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/FONR/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/FONR/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/FONR/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/FONR/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=FONR+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/FONR
DTCC (dtcc.com): http://search2.dtcc.com/?q=Fonar+Corp.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Fonar+Corp.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Fonar+Corp.&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/FONR/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/FONR
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/FONR/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/FONR/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/FONR/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000355019&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/FONR/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/FONR/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=FONR&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=FONR
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=FONR+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=FONR+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=FONR
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=FONR
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=FONR+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/FONR/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=FONR+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/FONR.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=FONR
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/FONR/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/FONR/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/FONR/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/FONR/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/FONR
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/FONR
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/FONR:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=FONR
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=FONR



$FONR DD Notes ~ http://www.ddnotesmaker.com/FONR

FONAR UPRIGHT MRI Scan Leads to Successful Treatment for Former NFL Quarterback

Fonar Corp. (MM) (NASDAQ:FONR)

Today : Wednesday 21 May 2014

MELVILLE, NY--(Marketwired - May 21, 2014) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported that after being diagnosed in November 2012 on the FONAR UPRIGHT® Multi-Position™ MRI (aka STAND-UP MRI®), former NFL quarterback, Jim McMahon, who suffered from post concussion dementia, was able to receive appropriate treatment and that his symptoms have resolved.

Jim McMahon, the former NFL quarterback who guided the Chicago Bears to victory at the 1985 Superbowl, has benefited from having used the FONAR UPRIGHT® MRI scanner at FONAR's Melville corporate headquarters. Former Senior Vice President, David Terry, whose duties included managing the Company's Sports program, became aware of Jim McMahon's health concerns from prior football concussions, from the Sports Illustrated, September 2012, cover story on Jim. Jim had severe headaches, body pain and other debilitating symptoms. Mr. Terry thought that FONAR's new technology for making cinés of the cerebrospinal fluid (CSF) as it flows in and out of the brain when the patient is in the Upright position might be able to help Jim. Through a mutual friend, He contacted Jim and scheduled him for an UPRIGHT® CSF flow study at FONAR's Melville MRI facility. The FONAR UPRIGHT® CSF flow video demonstrated a significant obstruction of CSF flow and increased intracranial pressure secondary to prior football injuries to Jim's neck (cervical spine). Subsequently he was treated by Dr. Scott Rosa, of the Trauma Imaging Foundation, www.traumaimagingfoundation.com Dr. Rosa treated Jim with his patented IGAT (Image Guided Atlas Treatment) method. Jim gives much credit to Dr. Raymond Damadian, M.D., president and founder of FONAR, the FONAR UPRIGHT® Multi-Position™ MRI (Stand-Up® MRI) and Dr. Scott Rosa, for the wonderful elimination of his pain. His experiences are reported and found online by The Stamford Advocate (Jan. 17, 2014) and The Yankees Yes Network.

Dr. Damadian said, "FONAR's UPRIGHT® MRI technology has opened a new frontier in medical imaging. It is the power to make MRI motion pictures (cinés) of the cerebrospinal fluid (CSF) in the spinal canal as it flows into and out of the brain of the patient while the patient is Upright and weight-bearing. These ciné MRIs of flowing CSF as it enters and leaves the Upright brain uniquely visualize any obstructions of CSF flow that might exist and that might correlate with the patient's symptoms. This often leads to a better understanding of the problems with the cervical anatomy that might be contributing to the patient's symptoms. A CSF flow scan was among those done on Jim McMahon when he came to FONAR for his UPRIGHT® MRI scan in November, 2012."

"Jim McMahon suffered from Cranio-Cervical Syndrome (CCS), which was giving him his pain," said Dr. Damadian. "Jim's problems originated because of injury to his neck which caused the obstructions of cerebrospinal fluid (CSF) flow to his brain. We are stunned by these most recent medical insights we are gaining from FONAR's new technology for making live cines of the cerebrospinal fluid (CSF) as it flows in and out of the Upright brain. It opens a whole new dimension in our understanding of the body's brain and nervous system, the processes that regulate it, and the prospect of developing new therapies that might be able to address a significant number of current day neurological problems."

"We are delighted with FONAR's new Upright CSF technology and its power to contribute to Jim's medical progress," added Dr. Damadian. "Our shareholders can be thankful that it was the FONAR UPRIGHT® Multi-Position™ MRI that was most helpful in Jim's diagnosis which then led to successful treatment by Dr. Rosa of the Trauma Imaging Foundation."

Our understanding of the vulnerability of the human neck and its impact on cerebrospinal fluid (CSF) flow had its genesis in our UPRIGHT® MRI research in patients with multiple sclerosis and our discovery of obstructed CSF flow in these patients and a resulting leakage of antigen containing CSF into the surrounding brain parenchyma," said Dr. Damadian. "On September 20, 2011, I and co-author, FONAR scientist David Chu, PhD., published a paper titled "The Possible Role of Cranio-Cervical Trauma and Abnormal CSF Hydrodynamics in the Genesis of Multiple Sclerosis," in the journal Physiological Chemistry and Physics and Medical NMR (Sept. 20, 2011, 41: 1-17), found at http://www.fonar.com. With this new understanding of the role that cervical trauma plays in the etiology of disease, it is imperative to certify that the sustained neck or head injuries of professional athletes such as NFL football players like Jim McMahon, whiplash patients and others with severe neck trauma, have not resulted in any obstructions of CSF flow, which could eventually lead to the symptomatology we are calling the Cranio-Cervical Syndrome (CCS)."

Caption for Picture

Jim McMahon, former Chicago Bears quarterback (standing on left), speaks to an audience at Chelsea Piers, Stamford, CT on Thursday, January, 16, 2014; Dr. Raymond Damadian, president of FONAR Corporation and the inventor of the MRI (Magnetic Resonance Imaging) scanner (standing in center); and Dr. Scott Rosa a cranio-cervical specialist (sitting on right). They presented the new technology, done on the FONAR UPRIGHT® MRI, for visualizing the adequacy of CSF flow in patients with neurodegenerative disorders when they are in the UPRIGHT® position, and Dr. Rosa's technology for treating patients with impairments to their CSF flow.

The Link to the Stamford Advocate is:
http://www.stamfordadvocate.com/sports/article/Jim-McMahon-says-NFL-lawsuit-delay-a-blessing-and-5150813.php

The Link to the story featured in the Yankee Yes Network is:


About FONAR

FONAR (NASDAQ: FONR), Melville, NY, The Inventor of MR Scanning™, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. Since its inception, nearly 300 recumbent-OPEN MRIs and 157 UPRIGHT® Multi-Position™ MRI scanners have been installed worldwide. FONAR's stellar product is the UPRIGHT® MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often sees the patient's problem that other scanners cannot because they are lie-down and "weightless" only scanners. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. As a FONAR customer states, "If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while they watch a 42" flat screen TV. FONAR is headquartered on Long Island, New York.

UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™, Upright Radiology™, The Proof is in the Picture™, True Flow™, pMRI™, Spondylography™, Dynamic™,Spondylometry™, CSP™, and Landscape™, are trademarks of FONAR Corporation.

This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.


Contact:
Daniel Culver
Director of Communications
E-mail: Email Contact
www.fonar.com

The Inventor of MR Scanning™
An ISO 9001 Company
Melville, New York 11747
Phone: (631) 694-2929
Fax: (631) 390-1709

Why the EPS went down from last qtr to the recent qtr:

I spoke at some length on Friday with Daniel at FONR's Investor Communications. Among other things, he told me that the biggest reason FONR's EPS for the recent quarter came down from prior two quarters is the auditor taking out a large amount for provisional tax "reserves," the largest expense item on FONR's financial sheet for the quarter. Without that charge, which probably won't actually materialize at that big amount, the EPS would have been much higher.

Daniel said the company is definitely promising more growth this year simply by organically growing the number of scans, and perhaps selling more MRI machines now that credit has gotten better.

Agree, the small caps been hammered, while dow up. Scary to think wut gonna happen to small caps when dow goes down.

Still think its pretty solid earnings, imo... I was lucky to exit this morning pm with small profit, should have sold yest but was expecting a pop today that didnt happen so i exited asap. Might re enter when things settle down.

EPS of 0.26; I know I was expecting around the same as last qtr, 0.33. It's still far better than last year's same qtr EPS of 0.17.

There were huge headwinds for FONR staging a rebound rally earlier this a.m. because Russell2000 smallcaps took it on the chin again today (proxy-etf IWM crashed down to its lowest level since early Feb.!!)

And that very small float for FONR grossly exaggerates the down moves (and gives juice to those upmoves).

The IWM (that is, smallcaps) should recover at some point soon-- this mass selloff of smallcaps in Feb. and again since March is just crazy, a chance for the bears to create a bear market somewhere while the S&P500 and Dow Indu. have recently reached all-time highs.

Did i miss the bad news? Earnings looked fine to me...

here we go again

Oh no Make that 45%

New entry Point imo good for 35%

wow!

Somebody put a million into this today, can u say alot higher

Nice move that,have a feeling theybought a few more mri offices

Thks hope u got that short from 25 and are able to ride it up again,this is a money machine good luck bux.should be a good year with our puppy,by the end of the year hopefully sitting where this one is ye$$$$$$$$$$$

Reminds me of LGF in 2013...congrats!

17 straight quarters

I hope you were able to make some coin on the small pullback with your short and then go long. This has been a real hot stock.

this puppy wants $30

h Fonar Corporation


Acacia Subsidiary Enters Into Agreement with Fonar Corporation

Business Wire

NEWPORT BEACH, Calif. -- December 31, 2013

Acacia Research Corporation (NASDAQ: ACTG) announced today that its Bolt MRI
Technologies LLC subsidiary has entered into an agreement with Fonar
Corporation. The agreement resolves litigation that was pending in the United
States District Court for the Eastern District of New York.

ABOUT ACACIA RESEARCH CORPORATION

Founded in 1993, Acacia Research Corporation (NASDAQ: ACTG) is the industry
leader in patent licensing. An intermediary in the patent marketplace, Acacia
partners with inventors and patent owners to unlock the financial value in
their patented inventions. Acacia bridges the gap between invention and
application, facilitating efficiency and delivering monetary rewards to the
patent owner.

For more information, visit: www.acaciaresearch.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995

This news relea

broke a 52 week high today.Somebody knows something,could it be buying more mri offices? we will see.

welcome and good luck its just the beginning i beleive,holding since $2 and waiting for full appreciation

Agreed, until the institutional guys get in and support this it appears there will be fluctuations. I think the product is there and I will be a player until this becomes fully appreciated.

Al

Pleased to read your FONR comments, AI. Your ihub longevity and judicious posting lend credence, further.
I came upon FONR late in the day, scanning to find an overnight play, at least. But as I dig, I'm seeing what you describe, a nifty little company. Particularly like how FONR successfully transitioned to MRI Centers ownership and management when device sales dried up in the just abating credit crunch.
Jumpy little bugger, too, lol.
MG

I've been following this since the single digits ( I believe actually below $2!!). Quality products that took a LONG time to penetrate the big boys market. Seems to be on it's way now with excellent fundamentals...

Al

FONR Closed today +19.89% @ 21.21, 774K (3.9 x's 90 DAV)
http://acaciaresearch.com/wp-content/uploads/2013/12/123113-Fonar-Corp.pdf
Profitable company with news and a float under 6M
Got in for a trade

http://stockcharts.com/h-sc/ui?s=FONR

Evidencing a bullish "Symmetrical Continuation Triangle" chart pattern before the news

MG

surely not a greedy man and thinks this co. is worth much more,i agreehttp://zolmax.com/investing/insider-selling-fonar-chairman-unloads-3350-shares-of-stock-fonr/176701/

Mr. D needed some x mas money well deservedhttp://archive.fast-edgar.com/20131216/2JKZV222Z222O2Z2222L22ZZU4G9ZJT2575. Filed on: December 16, 2013.