Every 10-Q that Fonar Corporation (FONR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow FONR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FONR filings page.
FONAR Corporation reported lower profitability for the quarter and nine months ended March 31, 2026 while maintaining a strong balance sheet and advancing a related-party going-private deal.
Quarterly net revenue was $26.5 million versus $27.2 million a year earlier. Net income attributable to FONAR fell to $1.6 million from $2.5 million, and basic EPS for common stockholders declined to $0.25 from $0.38. For the nine months, net revenue edged up to $78.1 million from $77.1 million, but net income attributable to FONAR decreased to $6.0 million from $7.6 million, with basic EPS at $0.90 versus $1.14.
FONAR held $53.7 million in cash and cash equivalents and total assets of $219.2 million, with total liabilities of $54.8 million and equity of $164.5 million as of March 31, 2026. Operations are driven primarily by management of diagnostic imaging centers, which generated most revenues and operating income.
The company detailed a proposed going-private transaction under a Merger Agreement with an entity controlled by its CEO, Timothy Damadian. Public stockholders would receive $19.00 per common or Class B share, $6.34 per Class C share, and $10.50 per Class A non-voting preferred share in cash, excluding shares contributed by the acquisition group. Closing is subject to multiple conditions, including both overall stockholder approval and a separate vote by disinterested stockholders, required regulatory clearances, and customary covenants. A stockholder class action in Delaware challenges whether a supermajority voting threshold under Delaware law applies to the merger. FONAR currently expects completion in its fourth fiscal quarter of 2026, assuming conditions are met.
FONAR Corporation reported modest revenue growth and solid profitability for the quarter ended December 31, 2025, while advancing a related-party going‑private transaction. Quarterly net revenue rose to $25.5M from $25.0M a year earlier. Net income attributable to FONAR increased to $2.1M, with basic EPS for common stockholders improving to $0.31 from $0.29. For the first six months, revenue reached $51.6M versus $49.9M, but net income attributable to FONAR declined to $4.3M from $5.1M, and basic EPS for common stockholders fell to $0.66 from $0.76. The company maintained a strong balance sheet with $53.0M in cash and cash equivalents and total equity of $162.9M as of December 31, 2025.
On December 23, 2025, FONAR agreed to be acquired by an entity controlled by its CEO in a going‑private merger. Public stockholders are to receive $19.00 per share for Common and Class B Common Stock, $6.34 per share for Class C Common Stock, and $10.50 per share for Class A Non‑voting Preferred Stock, subject to stockholder approvals and other customary conditions. A special committee of independent directors approved the deal, and members of the acquiring group who are stockholders signed voting agreements in favor of the merger. After quarter‑end, a stockholder class action in Delaware sought a higher supermajority voting threshold under Delaware law; FONAR disputes the allegations.
FONAR Corporation reported Q1 FY2026 results for the three months ended September 30, 2025. Total revenue was $26.043 million, up 4.3% year over year, while operating income fell to $3.194 million from $4.606 million as costs rose faster than sales. Net income attributable to FONAR was $2.264 million, and net income available to common stockholders was $2.120 million, with basic and diluted EPS of $0.34.
Growth was led by management and other fees and higher product and service activity. The company performed 55,106 scans, up from 53,054. Expenses increased 12.2% to $22.849 million, reflecting a prior-year $600,000 over‑accrual benefit, costs tied to the proposed going‑private transaction, IT and cybersecurity spending, and a $100,000 credit loss reserve increase primarily related to American Transit Insurance Company.
Cash and equivalents were $54.276 million (down from $56.334 million at June 30, 2025). Operating cash flow was $1.689 million; investing used $2.367 million and financing used $1.380 million. A CEO/COO‑led group submitted a non‑binding proposal on July 7, 2025 to acquire all outstanding equity; a Special Committee is negotiating, and no definitive agreements have been executed. The stock repurchase plan remains suspended, with $2.928 million authorization remaining.