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Fonar (FONR)

Company Profile
FONAR, the Inventor of MR Scanning™, is located in Melville, NY, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. FONAR's signature product is the FONAR UPRIGHT® Multi-Position™ MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ Imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often detects patient problems that other MRI scanners cannot because they are lie-down and 'weightless' only scanners. The patient-friendly UPRIGHT® MRI has a near-zero patient claustrophobic rejection rate. As a FONAR customer states, 'If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot.' Approximately 85% of patients are scanned sitting while watching TV.
Fonar logo

Company profile

Ticker
FONR
Exchange
NASDAQ
Website
www.fonar.com
CEO
Timothy R. Damadian
Employees
Incorporated
Delaware
Location
New York
Fiscal year end
Jun 30
Sector
Manufacturing > Electromedical and Electrotherapeutic Apparatus Manufacturing
Industry (SIC)
Electromedical & Electrotherapeutic Apparatus
Medtronic • Varian Medical Systems • Conmed • Integer • Masimo • Natus Medical • LivaNova • Outset Medical • Cutera • Inmode ...
SEC CIK
0000355019
Corporate docs
Articles of Incorporation & Bylaws
Underwriting Agreements
Plans of Reorganization
Indentures
Material Contracts & Credit Agreements
Subsidiaries Lists
Subsidiaries
Imperial Management Services, LLC • Health Diagnostic Management, LLC • Health Management Corporation • Fair Haven Services, Inc. • HMCM, Inc. • Raymond V. Damadian, M.D. MR Scanning Center Management Company • Dynamic Services, Inc. • Central Health Care Management Company, Inc. ...
IRS number
112464137

FONR stock data

Latest filings (excl ownership)
View all
8-K
Other Events
1 Dec 22
8-K
Fonar Announces First Fiscal Quarter Earnings
15 Nov 22
10-Q
2023 Q1
Quarterly report
14 Nov 22
8-K
Fonar Announces Fiscal 2022 Financial Results
29 Sep 22
10-K
2022 FY
Annual report
28 Sep 22
8-K
Departure of Directors or Certain Officers
10 Aug 22
8-K
Submission of Matters to a Vote of Security Holders
24 May 22
8-K
Fonar Announces 3RD Quarter and Nine-month Period Financial Results for Fiscal 2022
16 May 22
10-Q
2022 Q3
Quarterly report
16 May 22
DEF 14A
Definitive proxy
8 Apr 22
Latest ownership filings
View all
4
Luciano B Bonanni
3 Oct 22
4
Timothy Raymond Damadian
3 Oct 22
SC 13G/A
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC
14 Feb 22
SC 13G/A
RENAISSANCE TECHNOLOGIES LLC
11 Feb 22
SC 13G/A
VANGUARD GROUP INC
10 Feb 22
SC 13G/A
DIMENSIONAL FUND ADVISORS LP
8 Feb 22
SC 13G/A
BlackRock Inc.
12 Jul 21
SC 13G/A
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC
16 Feb 21
SC 13G/A
DIMENSIONAL FUND ADVISORS LP
12 Feb 21
SC 13G/A
RENAISSANCE TECHNOLOGIES LLC
11 Feb 21

Financial summary

Financial statements Chart FONR financial data
Quarter (USD) Sep 22 Jun 22 Mar 22 Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jun 22 Jun 21 Jun 20 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 48.70 mm 48.70 mm 48.70 mm 48.70 mm 48.70 mm 48.70 mm
Cash burn (monthly) 9.00 k (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 37.16 k n/a n/a n/a n/a n/a
Cash remaining 48.66 mm n/a n/a n/a n/a n/a
Runway (months of cash) 5406.5 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Financial data from Fonar earnings reports.

Institutional ownership, Q3 2022

FONR institutional ownership history Ownership history
44.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 39 44 -11.4%
Opened positions 0 0
Closed positions 5 1 +400.0%
Increased positions 11 7 +57.1%
Reduced positions 10 23 -56.5%
13F shares Current Prev Q Change
Total value 42.82 mm 47.26 mm -9.4%
Total shares 2.92 mm 3.01 mm -2.9%
Total puts 0.00 0.00
Total calls 0.00 0.00
Total put/call ratio – – –
Largest owners Shares Value Change
Kayne Anderson Rudnick Investment Management 703.80 k $9.96 mm -6.4%
Dimensional Fund Advisors 388.22 k $5.49 mm -1.1%
Renaissance Technologies 345.62 k $4.89 mm -9.7%
Vanguard 274.77 k $3.89 mm 0.0%
LSV Asset Management 151.15 k $2.14 mm -19.5%
Money Concepts Capital 144.59 k $2.05 mm +67.1%
Invenomic Capital Management 135.14 k $1.91 mm +104.2%
BLK Blackrock 97.32 k $1.38 mm -8.9%
Brandywine Global Investment Management 85.80 k $1.21 mm +2.5%
Hillsdale Investment Management 80.84 k $1.14 mm 0.0%
Largest transactions Shares Bought/sold Change
Invenomic Capital Management 135.14 k +68.95 k +104.2%
Money Concepts Capital 144.59 k +58.06 k +67.1%
Kayne Anderson Rudnick Investment Management 703.80 k -48.21 k -6.4%
Renaissance Technologies 345.62 k -37.10 k -9.7%
LSV Asset Management 151.15 k -36.56 k -19.5%
Two Sigma Investments 0.00 -19.93 k EXIT
STT State Street 0.00 -19.35 k EXIT
Grantham, Mayo, Van Otterloo & Co. 0.00 -16.22 k EXIT
Acadian Asset Management 1.79 k -11.55 k -86.6%
D. E. Shaw & Co. 0.00 -11.06 k EXIT
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

FONR insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Sep 22 Timothy Raymond Damadian FONAR CORPORATION COMMON STOCK Buy Acquire P No No 14.15 2,200 31.13 k 42,700
30 Sep 22 Luciano B Bonanni FONAR CORPORATION COMMON STOCK Buy Acquire P No No 14.16 3,400 48.14 k 54,253
29 Sep 22 Timothy Raymond Damadian FONAR CORPORATION COMMON STOCK Buy Acquire P No No 13.63 2,500 34.08 k 40,500
29 Sep 22 Luciano B Bonanni FONAR CORPORATION COMMON STOCK Buy Acquire P No No 13.82 1,300 17.97 k 50,853
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Press releases

From Benzinga Pro
Fonar Corporation Designates Laurel Hill Advisory Group, LLC as Information Agent for the Company's $9 Million Share Repurchase Program
30 Nov 22
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
FONAR Announces First Fiscal Quarter Earnings
14 Nov 22
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
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