FONAR (FONR) Q2 2026 earnings summary

Executive summary

• Net income for the six months ended December 31, 2025 was $5.2 million on revenues of $51.6 million, down 16% year-over-year despite a 3.3% revenue increase; for the quarter, net income rose 15% to $2.5 million on $25.5 million revenue.

• Operating income for the six months decreased to $6.2 million from $7.0 million year-over-year, while quarterly operating income increased 23% to $3.0 million.

• Diluted net income per common share was $0.66 for the six months, down 11% year-over-year, but up 7% to $0.31 for the quarter.

• A definitive merger agreement was signed to go private at $19.00 per share for Common and Class B stock, $6.34 for Class C, and $10.50 for Class A Preferred, subject to shareholder approval and litigation.

Financial highlights

• Total revenues for the six months ended December 31, 2025 increased to $51.6 million from $50.0 million year-over-year; quarterly revenues rose 2% to $25.5 million.

• Cash and cash equivalents plus short-term investments totaled $53.1 million at December 31, 2025, down from $56.3 million at June 30, 2025.

• Total stockholders’ equity rose to $162.9 million from $160.1 million at June 30, 2025.

• Operating cash flow for the six months dropped 52% to $1.9 million.

• Earnings per share for the six months were $0.66 basic and diluted for Common Stock, down from $0.76 and $0.74, respectively, year-over-year.

Outlook and guidance

• Management expects to open a new diagnostic imaging center on Long Island, NY, with $900,000 in planned capital expenditures.

• The company believes existing cash balances and internal cash generation are sufficient to fund operations and capital needs for at least the next 12 months.

• Management continues to seek expansion opportunities in New York and Florida, focusing on profitable growth and technology deployment.