FONR earnings analysis
What we found in FONR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Fonar Corporation's latest quarterly filing for Q3 2026 shows a slight decline in revenue to $26.5 million, compared to $27.2 million in Q3 2025, alongside reduced EPS at $0.24 per share down from $0.37. Gross margins also fell to 40.2%, suggesting ongoing challenges in cost management within a competitive landscape.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Decline in Revenue
- Total revenue for Q3 2026 was $26.5 million, down 2.6% from $27.2 million in Q3 2025.
- Earnings Decline
- Diluted EPS decreased to $0.24 in Q3 2026 from $0.37 in Q3 2025.
- Cash and Cash Equivalents
- Cash decreased from $56.3 million at June 30, 2025 to $53.7 million at March 31, 2026.
- Increase in Accounts Payable
- Accounts payable increased 76.9% to $2.3 million at March 31, 2026 compared to $1.3 million at June 30, 2025.
- Managing Competition
- Total costs increased by 4.5% to $24.0 million for Q3 2026, impacting profit margins due to competitive pressures.
- Management Fees Grow Slightly
- Management and other fees revenue increased slightly by 0.1% to $24.2 million for Q3 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Ongoing Economic Uncertainties
- Management expressed concerns about competition and reimbursement rates affecting profitability in the current environment.
- Increased Operating Expenses
- Operating expenses rose, leading to decreased operating income despite slight revenue growth.
- Legal Proceedings Risk
- Ongoing stockholder litigation regarding the merger could impact operations and costs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.24
- Gross margin
- 40.2%
- Operating margin
- 11.2%
- Segment
- Manufacturing and servicing of medical equipment
- Segment
- Management of diagnostic imaging centers
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads worse than the one before it.
What came before.
- 10-Q · February 13, 2026
- FONAR Corporation's Q2 2026 results show revenue of $25.5 million and diluted EPS of $0.31, reflecting a robust performance compared to $25.0 million in the same quarter last year. However, operating income faced…
- 10-Q · November 10, 2025
- Fonar Corporation reported Q1 2026 results with revenues of $26.0 million, reflecting a 4.3% increase year-over-year. However, net income decreased to $2.7 million, down 33% from $4.0 million in Q1 2025, driven by…
- 10-K · September 22, 2025
- FONAR Corporation's 2025 annual report reveals modest revenue growth with total revenue reaching $104.4 million, reflecting a 1.4% increase from the previous year. The company faced challenges with escalating costs and…
- 10-Q · May 15, 2025
- Fonar Corporation reported a revenue increase of 5.1% year-over-year for the third quarter FY2025, reaching $27.2 million, driven by growth in management and other fees. EPS improved to $0.37, suggesting better…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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