Fonar

FONAR Corp. engages in the design, manufacture, sale, and servicing of magnetic resonance imaging scanners. It operates through the Manufacturing and Servicing of Medical Equipment and Management of Diagnostic Imaging Center segments. The Manufacturing and Servicing of Medical Equipment segment promotes its product, Fonar Upright MRI. The Management of Diagnostic Imaging Center segment offers management, administrative, billing and collection services, office space, equipment, repair, maintenance service and clerical, and non-medical personnel to medical providers through its subsidiary, Health Management Corp. of America. The company was founded by Raymond V. Damadian on July 17, 1978 and is headquartered in Melville, NY.

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FONAR Corp. engages in the design, manufacture, sale, and servicing of magnetic resonance imaging scanners. It operates through the Manufacturing and Servicing of Medical Equipment, and Management of Diagnostic Imaging Center segments. The Manufacturing and Servicing of Medical Equipment segment promotes its product, Fonar Upright MRI. The Management of Diagnostic Imaging Center segment offers management, administrative, billing and collection services, office space, equipment, repair, maintenance service and clerical, and non-medical personnel to medical providers through its subsidiary, Health Management Corp. of America. The company was founded by Raymond V. Damadian on July 17, 1978 and is headquartered in Melville, NY.

Despite recent underperformance, FONAR remains a value play with minimal debt, positive profitability, and attractive valuation multiples, particularly a P/B ratio of 0.61. Q1-Fiscal 2025 earnings showed a decline, but FONAR's book value continues to grow, driven by strategic investments in high-field MRI scanners and new locations. Risks include market punishment for near-term growth rates and low trading volume, but downside risk is limited due to strong financials and shareholder-friendly trends.

FONAR: Assets Remain Too Cheap To Pass Up

FONAR's fiscal first-quarter earnings reveals a decline in revenues and income, driven by decreased patient fees and rising costs, while MRI scan volume sees modest growth.

FONR Stock Gains Despite Q1 Earnings Dip and Rising Expenses

Total MRI scan volume at the HMCA-managed sites increased 5% to 53,054 scans for the quarter ending September 30, 2024 versus the corresponding quarter one year earlier. Cash and cash equivalents decreased 4% to $54.2 million at September 30, 2024 as compared to the fiscal year-ended June 30, 2024.

Fonar Announces Financial Results for the 1st Quarter of Fiscal 2025

Strength in FONAR's HMCA segment's revenues drives its top line in fiscal 2024.

FONR's Stock Down Despite Earnings, Revenues Uptick in Fiscal 2024

Total MRI scan volume at the HMCA-managed sites increased 11% to 209,327 scans for the fiscal year ending June 30, 2024 as compared to the prior year. Cash and Cash Equivalents increased 10% to $56.3 million at June 30, 2024 versus the previous fiscal year.

Fonar Announces Fiscal 2024 Financial Results

FONAR Corporation showed encouraging growth trends in revenues and earnings, leading to a 'Buy' rating last year. Recent technical trends suggest a potential long-term change in the stock trend, supported by strong near-term growth rates and a favorable valuation. Forward-looking fundamentals, including the adoption of SwiftMR, indicate potential for continued growth and profitability for FONR shareholders.

FONAR Corporation: Shares Look Ready To Embark On A Sustained Bullish Run (Technical Analysis)

Discover why Zacks rates FONAR Corporation as "Outperform", being the first on Wall Street to initiate coverage on the stock. Explore FONR's strategic expansion, financial health and market positioning for growth in the MRI diagnostic services space.

Zacks Initiates Coverage of FONAR Corporation With Outperform Recommendation

Total MRI scan volume at the HMCA-managed sites increased 11% to 154,790 scans for the nine-month period ended March 31, 2024 as compared to the nine-month period ended March 31, 2023. Net Income increased 25% to $12.5 million for the nine-month period ended March 31, 2024 as compared to the nine-month period ended March 31, 2023.

Fonar Announces Fiscal 2024 Financial Results for 3rd Quarter and Nine-Month Period

The company focuses on managing diagnostic imaging centers, and it has slow and predicable revenue growth with decent margins. In my view, the Q2 FY24 results were strong as revenues inched up by 4.7% to $25.4 million while attributable net income soared by 68.4% to $3.8 million. The market capitalization of Fonar slumped by over 20% in the past month, and I think this creates a good buying opportunity here.

FONAR: Recent Selloff Seems Unjustified As EV/EBITDA Approaches 4x

Total MRI scan volume at the HMCA-managed sites increased 13% to 101,990 scans for the six months ending December 31, 2023 versus the corresponding period one year earlier. Cash and cash equivalents and short-term investments increased 4% to $53.2 million at December 31, 2023, versus the fiscal year ended June 30, 2023.

Fonar Announces Six Months and 2nd Quarter Financial Results for Fiscal 2024

On September 13, 2022, the Company adopted a stock repurchase plan of up to $9 million. At September 30, 2023, the Company has purchased 146,359 shares at a cost of $2,473,215.

Fonar Announces Financial Results for the 1st Quarter of Fiscal 2024

Melville, New York--(Newsfile Corp. - November 8, 2023) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, announces that it is now the exclusive distributor of SwiftMR™ from AIRS Medical, Inc. to FONAR customers for use on their FONAR MRIs or on any other MRI scanner they own. AIRS Medical is the leading Artificial Intelligence (AI)-powered healthcare solution provider.

Fonar Announces Distributor Agreement with Airs Medical, Leader in AI-Powered MRI Technology

On August 3, 2022, FONAR founder and The Father of MRI, Raymond V. Damadian, died at 86.

FONAR Announces Financial Results for Fiscal 2023

FONAR Corporation's shares have declined 8.2% since I last wrote about it, while the S&P 500 gained 10.9%. The company's recent financial results show flatlined revenue and increased costs. Despite the weak performance, FONAR has a strong capital structure and the shares are objectively cheap, making it a potentially good investment. Patience is required in my view.

Back Into FONAR Corporation

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Total MRI scan volume at the HMCA-managed sites increased 7% to 49,451 scans for the quarter ended March 31, 2023 versus the corresponding quarter one year earlier. For the nine-month period ended March 31, 2023, 139,339 scans were performed as compared to 140,650 for the corresponding nine-month period one year ago.

Fonar Announces Financial Results for Fiscal 2023 3rd Quarter and Nine-Month Period

Melville, New York--(Newsfile Corp. - March 20, 2023) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning, today announced that its board of directors appointed Jessica Maher as a replacement independent director to a vacancy on the Company's board of directors and audit committee. Timothy Damadian, chairman, president and CEO of FONAR, said, "FONAR's primary source of income and growth is attributable to its diagnostic imaging management subsidiary, Health Management Company of America (HMCA).

FONAR Board of Directors Appoints Independent Director

Total MRI scan volume at the HMCA-managed sites decreased 5% to 89,888 scans for the six months ending December 31, 2022 versus the corresponding period one year earlier. Cash and cash equivalents and short-term investments increased 2% to $49.5 million at December 31, 2022, versus the fiscal year ended June 30, 2022. Total Revenues-Net for the six month period ended December 31, 2022 decreased by 2% to $47.

Fonar Announces Six Months and 2nd Quarter Financial Results for Fiscal 2023

Melville, New York--(Newsfile Corp. - November 30, 2022) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, announced today that the Company has engaged Laurel Hill Advisory Group, LLC as its Information Agent for the Company's previously announced share repurchase program.

Fonar Corporation Designates Laurel Hill Advisory Group, LLC as Information Agent for the Company's $9 Million Share Repurchase Program

Net cash provided by operating activities increased 117% to $2.7 million at September 30, 2022, versus the same quarter one year earlier.Cash and cash equivalents and short term investments at September 30, 2022 was $48 million and approximately the same at June 30, 2022.Book Value Per Share increased 5% to $22.05 per share at September 30, 2022, versus the same quarter one year earlier.Total MRI scan volume at the HMCA-managed sites decreased 8.

FONAR Announces First Fiscal Quarter Earnings

FONAR stock is trading well below book value and remains profitable which is key. Cash, liquidity and equity all continue to grow on the balance sheet.

FONAR: Balance Sheet Trends Point To A Firm Bottom Shortly

Melville, New York--(Newsfile Corp. - August 5, 2022) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported today the passing of Founder and Chairman Raymond V. Damadian, MD on August 3, 2022.Highlights of the life of Dr.

Raymond Vahan Damadian, the Father of MRI, Chairman and Founder of FONAR Corporation, Dies at 86

I think the financial performance has been excellent over the past three quarters. I particularly like the renewed strength of the capital structure. At the same time, the shares are cheap by some measures, and not cheap by others. For that reason, I'm "nibbling" by buying 300 more shares.

Adding To My Fonar Corporation Position

Melville, New York--(Newsfile Corp. - November 23, 2021) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning, today announced that on November 17, 2021, its board of directors appointed John Collins as a replacement independent director to a vacancy on the Company's board of directors and audit committee.Timothy Damadian, president and CEO of FONAR, said, "Our primary source of income and growth is attributable to FONAR's diagnostic imaging management subsidiary, Health Management Company...

Fonar Board of Directors Appoints Independent Director

Revenue almost hits $90 million & EBIT grows by 25% to surpass $17 million in Fonar's latest fiscal year.

News for Fonar Stock (FONR)