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FONAR Corporation reports developments tied to its MRI technology business and diagnostic imaging management operations. The company designs, manufactures, sells and services MRI scanners, while Health Management Company of America manages MRI scanners for medical practices in New York and Florida.
Recurring news categories include quarterly operating results, revenue from diagnostic imaging management, product sales, upgrades, service and repair fees, material agreements, shareholder voting matters, capital-structure disclosure and governance matters.
FONAR (NASDAQ:FONR) reported fiscal Q3 2026 results with net income down 25% to $2.3M and EPS down 35% to $0.24, as revenue fell 3% to $26.5M. For the nine months, revenue rose to $78.1M but net income declined 19% to $7.5M.
Cash and short-term investments were $53.8M, working capital was $131.9M, and the current ratio improved to 9.2. MRI scan volume reached record levels. A merger agreement for a proposed going-private transaction is pending shareholder approval on May 28, 2026, and share repurchases remain suspended.
FONAR (NASDAQ: FONR) reported Q2 fiscal 2026 results for the quarter ended December 31, 2025. Total revenue was $25.5M (up 2% YoY) and six-month revenue was $51.6M (up 3% YoY). Quarterly net income rose 15% to $2.5M; diluted EPS was $0.31.
Operating cash flow for the six months fell 52% to $1.9M. On December 29, 2025, the company signed a definitive merger agreement that raised the proposed take-private cash price to $19.00 per share.
FONAR (NASDAQ: FONR) entered a definitive agreement on December 23, 2025 for an all-cash take-private sale to an acquisition group led by CEO Timothy Damadian. Under the Merger Agreement, holders of common stock will receive $19.00 per share at closing; other classes receive $19.00 (Class B), $6.34 (Class C) and $10.50 (Class A non-voting preferred). The $19.00 common share price represents a 31.5% premium to the last close before the announcement and a 39.7% premium to the 90-day average ending June 30, 2025.
The deal is expected to close in Q3 2026, is not subject to financing conditions, requires stockholder approval and will result in delisting from Nasdaq upon closing. Financing includes a $35M debt commitment from OceanFirst Bank plus approximately $10M additional debt and $45M equity from the acquisition group and third parties.
FONAR (NASDAQ: FONR) reported 1Q fiscal 2026 results for the quarter ended September 30, 2025. Total revenues rose 4% to $26.0M, driven by the HMCA diagnostic-imaging segment at $23.5M and FONAR product/services at $2.5M (+14%).
Operating income fell 30% to $3.2M, consolidated net income fell 33% to $2.7M, and diluted EPS declined 26% to $0.34. SG&A increased 33% to $6.8M. Cash and short-term investments were $54.3M at September 30, 2025. HMCA reported scan volume of 55,106 (3.9% YoY growth).
FONAR Corporation (NASDAQ: FONR), a pioneer in MRI technology, reported mixed financial results for fiscal 2025. Total revenues increased 1% to $104.4 million, while net income decreased 24% to $10.7 million. The company's diagnostic imaging subsidiary, HMCA, achieved record scan volume of 216,317 scans, up 3.3% from the previous year.
Key financial metrics include diluted EPS of $1.23 (down 20%), cash and equivalents of $56.3 million, and working capital growth of 4% to $127.5 million. HMCA expanded its operations by adding two MRI scanners, bringing the total to 44 managed scanners across New York and Florida. The company's stock repurchase plan has acquired 373,942 shares for $6.07 million but is temporarily suspended due to a potential "Take Private" transaction.
FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning, has received a supplemental "take private" proposal from a group led by Timothy Damadian. The Proposed Acquisition Group aims to acquire all outstanding shares not currently owned by them at $17.25 per share in cash.
The offer represents a 27% premium over the 90-day average closing price ending June 30, 2025. This follows an initial expression of interest from July 7, 2025. A Special Committee of independent directors will review the proposal with financial and legal advisors to determine the best course of action for FONAR and its shareholders.
The company emphasizes that this is only a preliminary proposal and no decisions have been made. No shareholder action is required at this time.
FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, has received a preliminary, non-binding "take private" proposal from a Proposed Acquisition Group led by Timothy Damadian. The group, which currently owns 5.01% of FONAR's outstanding stock, aims to acquire all remaining shares at a premium of at least 10% above the 90-day average closing price prior to July 1, 2025.
The Board has formed a special committee of independent directors to evaluate the proposal. FONAR emphasizes that this is only a preliminary indication of interest, and there is no guarantee that any transaction will be approved or completed. Shareholders are not required to take any action at this time.
FONAR Corporation (NASDAQ: FONR), known for inventing MR Scanning, has appointed Robert M. Carrino as an independent director to its board, replacing retiring director Claudette J.V. Chan. The company's subsidiary, Health Management Company of America (HMCA), currently manages 44 MRI scanners in New York and Florida, performing over 200,000 MRI scans annually.
Carrino, a partner at CFGI, LLC in New York City, brings extensive public accounting experience and leads the firm's SPAC practice. His appointment is particularly significant as FONAR transitions into accelerated filer status. Previously, Carrino served as an audit manager at KPMG, LLP and holds a Bachelor of Science in Business Administration with an accounting concentration.
FONAR (NASDAQ: FONR) reported financial results for Q2 fiscal 2025. MRI scan volume at HMCA managed sites increased 7% to 79,207 scans, while owned sites decreased 4% to 26,961 scans during the six-month period ended December 31, 2024.
Key financial metrics showed overall decline: Total revenues decreased 3% to $49.9M for the six-month period, Income from Operations fell 38% to $7.2M, and Net Income decreased 36% to $6.4M. Diluted EPS dropped 33% to $0.75. Cash and equivalents decreased 5% to $53.7M.
The company continues its stock repurchase plan announced September 2022, having repurchased 343,485 shares at $5.6M cost. HMCA currently manages 43 MRI scanners across New York (25) and Florida (18), with plans to add high-field MRIs at two existing centers in Nassau County, NY.