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Private company

FONAR CORP

FONAR CORP is an American electromedical and electrotherapeutic apparatus company.1 It is headquartered in Melville, New York.1

Last updated Oct 21, 2026.

Overview

$104.4MRevenue, fiscal 20252
$8.3MNet income, fiscal 20252
  • IndustryElectromedical & Electrotherapeutic Apparatus1
  • HeadquartersMelville, New York1
  • Incorporated inDE3
  • Business address110 Marcus Dr, Melville, Ny 117473
  • Filer categoryAccelerated filer, Smaller reporting company3

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(also referred to as the “Upright®” or “Stand-Up®” MRI scanner) and the FONAR 360™ MRI scanner.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

8.0%Net margin2
1.4%Revenue growth, 20252
4.8%Return on equity2
$7.5MFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development2¢$1.6M
  • Selling, general and admin28¢$29.7M
  • Other costs59¢$61.6M
  • Income tax3¢$3.1M
  • Profit8¢$8.3M

Out of $104.4M in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Capital spending34¢$3.8M
  • Kept or used elsewhere66¢$7.5M

Out of $11.3M of cash from operations.2

Financial statements

Revenue678910112$104.4M in 2025+28% since 2018
0$50.0M$100.0M$150.0M2018: $81.5M$81.5M20182019: $87.2M$87.2M2019+7%2020: $85.7M$85.7M2020−2%2021: $89.9M$89.9M2021+5%2022: $97.6M$97.6M2022+9%2023: $98.6M$98.6M2023+1%2024: $102.9M$102.9M2024+4%2025: $104.4M$104.4M2025+1%
Operating income891011$4.5M in 2024
-$10.0M-$5.0M0$5.0M$10.0M$15.0M2021: -$7.1M-$7.1M20212022: $5.3M$5.3M20222023: $11.1M$11.1M2023+110%2024: $4.5M$4.5M2024−59%
Net income678910112$8.3M in 2025−61% since 2018
0$10.0M$20.0M$30.0M2018: $21.2M$21.2M20182019: $15.3M$15.3M2019−28%2020: $8.2M$8.2M2020−46%2021: $10.2M$10.2M2021+24%2022: $12.4M$12.4M2022+22%2023: $9.4M$9.4M2023−25%2024: $10.6M$10.6M2024+13%2025: $8.3M$8.3M2025−21%
Fiscal year20182019202020212022202320242025
Revenue$81.5M6$87.2M7$85.7M8$89.9M9$97.6M10$98.6M11$102.9M2$104.4M2
Cost of revenue$751.2K15
Research and development$1.8M6$1.8M7$2.0M8$1.6M9$1.5M10$1.6M11$1.7M2$1.6M2
Selling, general and admin$18.1M6$19.3M7$26.7M8$24.7M9$23.5M10$29.4M11$26.9M2$29.7M2
Operating expenses$75.6M10$83.9M11$86.3M2$92.8M2
Operating income-$7.1M8$5.3M9$11.1M10$4.5M11
Interest-$160.1K6$98.6K7$74.3K8$248.7K9$346.6K10$50.1K10
Income before tax$22.8M10$15.8M11$19.3M2$13.8M2
Income tax-$5.7M6$2.0M7$2.4M8$4.0M9$5.5M10$3.6M11$5.2M2$3.1M2
Net income$21.2M6$15.3M7$8.2M8$10.2M9$12.4M10$9.4M11$10.6M2$8.3M2
Earnings per share$2.417$1.287$1.479$1.789
Shares (weighted, basic)6.6M shares9
Shares (weighted, diluted)6.7M shares9

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Corporate structure

FONAR CORP sits at the top of its group. 5 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of FONAR CORP

  • FONAR CORP Melville, New York
    • FCP Services, Inc. Subsidiary · New York, United States
    • Health Diagnostics Management, LLC d/b/a Health Management Company of America Subsidiary · New York, United States
    • Health Management Corporation of America Subsidiary · Delaware, United States
    • Imperial Management Services LLC Subsidiary · New York, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What FONAR CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$66.3M2 Jun 30, 2025$62.5M2 Jun 30, 2024+6.1%
Accumulated depreciation$47.8M2 Jun 30, 2025$43.8M2 Jun 30, 2024+9.1%
Property and equipment, net$18.5M2 Jun 30, 2025$18.7M2 Jun 30, 2024−0.9%
Finance-lease assets$376.6K2 Jun 30, 2025$530.3K2 Jun 30, 2024−29.0%
Operating-lease assets (leased space)$35.1M2 Jun 30, 2025$38.4M2 Jun 30, 2024−8.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$56.3M2 Jun 30, 2025$56.3M2 Jun 30, 20240%
Marketable securities, current$120.5K2 Jun 30, 2025$136.1K2 Jun 30, 2024−11.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$4.3M2 Jun 30, 2025$4.3M2 Jun 30, 20240%
Intangible assets, net (excluding goodwill)$3.0M2 Jun 30, 2025$2.9M2 Jun 30, 2024+4.2%
Finite-lived intangibles, gross$21.5M2 Jun 30, 2025$20.3M2 Jun 30, 2024+6.1%
Accumulated amortization-$18.6M2 Jun 30, 2025-$17.4M2 Jun 30, 2024−6.4%
Finite-lived intangibles, net$3.0M2 Jun 30, 2025$2.9M2 Jun 30, 2024+4.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$2.8M2 Jun 30, 2025$2.7M2 Jun 30, 2024+3.6%
Work in process$182.2K2 Jun 30, 2025$191.2K2 Jun 30, 2024−4.7%
Supplies$2.6M2 Jun 30, 2025$2.5M2 Jun 30, 2024+4.2%

Properties, in its own words

FONAR and HMCA currently lease approximately 78,000 square feet of office and plant space at its principal offices in Melville, New York. The term of the lease runs through November, 2033. Management believes that the premises will be adequate for its current needs. HMCA also maintains office space for the Facilities owned by its subsidiaries in Florida and for its clients at the clients’ sites in New York and Florida under leases having various terms. HMCA owns the building for the client’s premises in Tallahassee, Florida.

Item 2 of the 10-K filed Sep 22, 2025.5

Leadership

Who has led FONAR CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Timothy Raymond Damadian2022–now

Chair

  1. Raymond Damadian V.2013

President

  1. Raymond Damadian V.2006–2015
  2. Timothy Raymond Damadian2022–now

Chief operating officer

  1. Luciano B. Bonanni2022–now
2010201520202025
Board members and other officers (12)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • FCP Services, Inc. New York4
  • Health Diagnostics Management, LLC d/b/a Health Management Company of America New York4
  • Health Management Corporation of America Delaware4
  • Imperial Management Services LLC New York4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jun 3, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation31
  2. May 29, 20268-K Shareholder vote32
  3. May 21, 20268-K Other events33
  4. May 12, 20268-K Results of operations34
  5. Feb 17, 20268-K Results of operations35
  6. Dec 30, 20258-K Entered a material agreement; Other events36
  7. Nov 12, 20258-K Results of operations37
  8. Sep 12, 20258-K Results of operations38
  9. Jul 21, 20258-K Other events39
  10. Jul 10, 20258-K Other events40
  11. Jul 9, 20258-K Other events41
  12. Jul 2, 20258-K Executive or director change42
  13. Oct 3, 2022New chief executive Timothy Raymond Damadian becomes CEO17

Calendar

When it reported results

  1. May 12, 2026Reported quarterly or annual results34
  2. Feb 17, 2026Reported quarterly or annual results35
  3. Nov 12, 2025Reported quarterly or annual results37
  4. Sep 12, 2025Reported quarterly or annual results38
  5. May 19, 2025Reported quarterly or annual results43
  6. Feb 19, 2025Reported quarterly or annual results44
  7. Nov 12, 2024Reported quarterly or annual results45
  8. Sep 30, 2024Reported quarterly or annual results46

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

137 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 37 major events, 23 insider forms, 32 large holders, 25 other. The latest 20:

  1. Jul 14, 2026SCHEDULE 13G/A EDGAR
  2. Jun 15, 202615-12G EDGAR
  3. Jun 10, 2026SCHEDULE 13G EDGAR
  4. Jun 9, 20264 PRIMARY DOCUMENT EDGAR
  5. Jun 9, 20264 PRIMARY DOCUMENT EDGAR
  6. Jun 9, 20263 PRIMARY DOCUMENT EDGAR
  7. Jun 9, 20264 PRIMARY DOCUMENT EDGAR
  8. Jun 9, 20263 PRIMARY DOCUMENT EDGAR
  9. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  10. Jun 8, 20263 PRIMARY DOCUMENT EDGAR
  11. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  12. Jun 8, 20263 PRIMARY DOCUMENT EDGAR
  13. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  14. Jun 8, 20263 PRIMARY DOCUMENT EDGAR
  15. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  16. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  17. Jun 8, 20263 PRIMARY DOCUMENT EDGAR
  18. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  19. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  20. Jun 8, 20263 PRIMARY DOCUMENT EDGAR

The 137 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

8 open-market trades by officers, directors and large owners since October 2021: 8 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 2, 2026shane hilary10% ownerBuy215,336$19.10$4.1MForm 4
May 29, 2026shane hilary10% ownerBuy41,913$19.05$798.4KForm 4
May 28, 2026shane hilary10% ownerBuy225,426$19.05$4.3MForm 4
May 27, 2026shane hilary10% ownerBuy71,414$18.99$1.4MForm 4
Sep 30, 2022Bonanni Luciano BEVP/COO/Acting PFOBuy3,400$14.16$48.1KForm 4
Sep 30, 2022Damadian Timothy RaymondPresident/CEO/TreasurerBuy2,200$14.15$31.1KForm 4
Sep 29, 2022Bonanni Luciano BEVP/COO/Acting PFOBuy1,300$13.82$18.0KForm 4
Sep 29, 2022Damadian Timothy RaymondPresident/CEO/TreasurerBuy2,500$13.63$34.1KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Luciano Bonanni$148.2K$498.2K56
2025John P. Collins$295.0K$437.2K56
2025Timothy R. Damadian$0$295.0K56
2025Raymond V. Damadian$0$056
2024Chief Operating Officer,$148.2K$498.2K56
2024General Counsel$250.0K$422.0K56
2024PresidentPrincipal$0$372.9K56
2024deceased (August 32022)$0$056
2023Executive VicePresident and$143.4K$449.2K56
2023Chairman of the Board;$23.6K$329.4K56
2023Executive Officer$0$152.9K56
2023General Counsel$0$056

SEC filer profile

How FONAR CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFONAR CORP1
  • CIK0000355019
  • Employer ID (EIN)11-24641375
  • Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; a shell company5
  • Incorporated indelaware5
  • Fiscal year endsJune 301
  • Industry code (SIC)3845 Electromedical & Electrotherapeutic Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address110 Marcus Dr, Melville, NY 117471
  • Mailing address110 Marcus Drive, Melville, NY 117471
  • Phone63169429291
  • Shares outstanding6,203,465 Common Stock shares; 146 Common Class B shares; 382,513 Common Class C shares; 313,438 Class A Non Voting Preferred Stock shares as of Sep 8, 20255
  • Public float$91.8M as of Dec 31, 20245
  • AuditorCohnReznick LLP, Melville, NY PCAOB ID 596; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMar 8, 19951
  • Filings588 in all: 8-K (146), 10-Q (95), 4 (36), 10-K (31), DEF 14A (26), NT 10-K (26), SC 13G/A (25), NT 10-Q (22)1
    All 45 form types

    SC 13G (16), 10-Q/A (14), 424B3 (14), S-8 (12), 10-K/A (11), S-3 (11), SCHEDULE 13G/A (10), 3 (8), RW (8), 8-K/A (7), DEFA14A (7), 5 (6), S-3/A (6), SCHEDULE 13G (6), UPLOAD (6), 424B1 (5), CORRESP (4), 424B5 (3), SC 13E3/A (3), SCHEDULE 13D/A (3), AW (2), PRE 14A (2), S-2 (2), S-2/A (2), 15-12G (1), 25-NSE (1), ARS (1), DEFM14A (1), NT 10-K/A (1), NTN 10Q (1), PREC14A (1), PREM14A (1), PRER14A (1), S-8 POS (1), SC 13D (1), SC 13E3 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Sep 22, 2025
    Quarterly report (10-Q) May 11, 2026
    Proxy statement (DEF 14A) May 5, 2026
    Latest 8-K (8-K) Jun 3, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $.0001 par valueFONRNASDAQ

From the cover page of the 10-K filed Sep 22, 2025 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

Legal proceedings

From time to time we are involved in various litigation matters arising in the ordinary course of our business. We do not believe the disposition of any current matter will have a material adverse effect on our consolidated financial position or results of operations. There are no material legal proceedings threatened or pending against the Company.

The opening of Item 3, Legal Proceedings.5

Sources

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    SEC EDGAROther events
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