FONAR (FONR) Q4 2025 earnings summary

Executive summary

• Total revenues increased 1% year-over-year to $104.4 million for fiscal year ended June 30, 2025.

• Income from operations declined 30% to $11.6 million, and net income fell 24% to $10.7 million year-over-year.

• Diluted net income per common share decreased 20% to $1.23.

• Working capital rose 4% to $127.5 million, and book value per share increased to $25.26.

• Two new MRI scanners were added, bringing the total managed to 44.

Financial highlights

• Revenues from management of diagnostic imaging centers rose 1% to $95.4 million.

• Product sales, upgrades, and service fees increased to $9.0 million from $8.3 million year-over-year.

• Total costs and expenses rose 7% to $92.8 million.

• SG&A expenses increased 11% to $29.7 million, while R&D expenses decreased 9% to $1.6 million.

• Operating cash flow was $11.3 million, down from $14.1 million year-over-year.

Outlook and guidance

• Plans to install a high-field MRI in Nassau County, NY in early fiscal 2026 and open an additional center later in the year.

• Ongoing search for profitable locations to expand Stand-Up MRI technology in NY and FL.