Quarterly ResultMay 12, 2026, 05:17 PM
FONAR Q3 Net Income Down 25% to $2.3M; Revenue Down 3% to $26.5M
AI Summary
FONAR Corporation reported a 25% decrease in Net Income to $2.3 million and a 3% decrease in Total Revenues-Net to $26.5 million for the third quarter of fiscal 2026. Diluted Net Income Per Common Share also fell by 35% to $0.24. Despite the financial declines, the company's diagnostic imaging management subsidiary, HMCA, achieved a record scan volume of 55,660 and continues to expand its MRI scanner network. Additionally, the company is progressing with a proposed "going private" merger, with a stockholder meeting scheduled for May 28, 2026, and has suspended its share repurchase program.
Key Highlights
- Net Income for Q3 2026 decreased 25% to $2.3 million compared to Q3 2025.
- Total Revenues-Net for Q3 2026 decreased 3% to $26.5 million compared to Q3 2025.
- Diluted Net Income Per Common Share for Q3 2026 decreased 35% to $0.24.
- Income from Operations for Q3 2026 decreased 33% to $2.4 million.
- Total Cash, Cash Equivalents and Short-Term Investments were $53.8 million at March 31, 2026.
- HMCA managed 45 MRI scanners; Q3 scan volume was a record 55,660, up 1.8% YoY.
- Proposed "going private" merger agreement is subject to stockholder approval on May 28, 2026.
- Share repurchase program remains suspended due to the proposed transaction.