Fonar Corporation (FONR) Financial Statements (2024 and earlier)

Company Profile

Business Address 110 MARCUS DR
MELVILLE, NY 11747
State of Incorp. DE
Fiscal Year End June 30
Industry (SIC) 3845 - Electromedical and Electrotherapeutic Apparatus (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
MRQ
6/30/2023
6/30/2022
6/30/2021
6/30/2020
6/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3349,23646,86644,49336,83428,977
Cash and cash equivalents  49,20346,83444,46036,80213,882
Short-term investments333332323215,095
Receivables     671 
Deferred tax assets20,694
Other undisclosed current assets132,50976,42571,82064,09158,38435,417
Total current assets:132,542125,661118,686108,58395,89085,089
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization6307299281,1271,326
Operating lease, right-of-use asset32,23433,06934,23230,13331,392
Property, plant and equipment20,10922,14622,28221,85021,36416,986
Long-term investments and receivables3767601,8572,8012,656 
Accounts and financing receivable, after allowance for credit loss3767601,8572,8012,656 
Intangible assets, net (including goodwill)7,5357,7017,9738,3078,0958,741
Goodwill4,2694,2694,2694,2693,9853,985
Intangible assets, net (excluding goodwill)3,2663,4323,7044,0384,1094,756
Other undisclosed noncurrent assets8,83610,51513,38316,70519,537 
Total noncurrent assets:69,72074,92180,65680,92384,37025,727
TOTAL ASSETS:202,262200,582199,342189,506180,259110,815
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,3356,0521,5511,8661,965861
Taxes payable   1,671
Employee-related liabilities   3,898
Accounts payable1,3351,5791,5511,8661,9651,861
Accrued liabilities  4,473   271
Other undisclosed accounts payable and accrued liabilities      (6,840)
Deferred revenue3,8043,8324,2894,3664,105
Debt267444017310841
Other liabilities3,4605,4446,4179,1628,1857,577
Other undisclosed current liabilities5,3132534,4524,4824,2995,611
Total current liabilities:14,17915,62416,74920,04918,66314,090
Noncurrent Liabilities
Long-term debt and lease obligation, including:600115155760865273
Long-term debt, excluding current maturities92     
Finance lease, liability5086208381,0481,251
Other undisclosed long-term debt and lease obligation  (505)(33,774)(29,263)(30,490)273
Liabilities, other than long-term debt30,67932,8692,0093,3863,62693
Accounts payable and accrued liabilities4460493878 
Deferred revenue3767601,8572,8012,656
Due to related parties 93939393
Operating lease, liability30,29932,10533,09128,97530,104
Other undisclosed noncurrent liabilities5071,14634,19229,94030,862992
Total noncurrent liabilities:31,78634,13036,35734,08735,3541,358
Total liabilities:45,96549,75553,10654,13654,01715,448
Equity
Equity, attributable to parent, including:163,887157,906150,290138,419126,187115,956
Treasury stock, value(395)(516)(675)(675)(675) 
Additional paid in capital180,607182,613184,532185,101183,077181,087
Deferred employee stock ownership plan, issuance of shares or sale of treasury shares      (675)
Accumulated deficit(16,326)(24,191)(33,567)(46,008)(56,215)(64,455)
Other undisclosed equity, attributable to parent111111
Equity, attributable to noncontrolling interest(7,590)(7,079)(4,054)(3,049)552,156
Total equity:156,297150,827146,236135,370126,242118,112
TOTAL LIABILITIES AND EQUITY:202,262200,582199,342189,506180,259133,560

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
6/30/2023
6/30/2022
6/30/2021
6/30/2020
6/30/2019
Revenues102,42298,64597,59289,93085,69087,193
Cost of revenue(49,911)(48,357)(46,043)(42,374)(39,388)(40,148)
Other cost of operating revenue(13,085)(16,183)(13,308)(10,918)(10,880)(10,789)
Gross profit:52,51150,28851,54947,55546,30247,045
Operating expenses(34,408)(35,499)(29,542)(30,458)(32,651)(24,911)
Operating income:18,10314,78922,00717,09813,65122,134
Nonoperating income1,8431,0191,108816573484
Investment income, nonoperating1,8491,222247312502483
Other nonoperating income (expense)(6)(203)861504711
Interest and debt expense(58)(50)(347)(249)(74)99
Other undisclosed loss from continuing operations before equity method investments, income taxes(50)     
Income from continuing operations before equity method investments, income taxes:19,83915,75922,76917,66514,15022,716
Other undisclosed income (loss) from continuing operations before income taxes603    (197)
Income from continuing operations before income taxes:20,44215,75922,76917,66514,15022,519
Income tax expense(3,796)(3,632)(5,534)(3,992)(2,445)(2,006)
Income from continuing operations:16,64612,12717,23413,67411,70520,514
Income before gain (loss) on sale of properties:17,23413,67411,70520,514
Net income:16,64612,12717,23413,67411,70520,514
Net income (loss) attributable to noncontrolling interest(3,684)(2,751)(4,793)(3,466)(3,465)5,197
Other undisclosed net loss attributable to parent      (10,393)
Net income attributable to parent:12,9629,37612,44110,2088,24015,317
Other undisclosed net income (loss) available to common stockholders, basic259 (750)   
Net income available to common stockholders, basic:13,2219,37611,69110,2088,24015,317
Other undisclosed net income available to common stockholders, diluted   750   
Net income available to common stockholders, diluted:13,2219,37612,44110,2088,24015,317

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
6/30/2023
6/30/2022
6/30/2021
6/30/2020
6/30/2019
Net income:16,64612,12717,23413,67411,70520,514
Comprehensive income:16,64612,12717,23413,67411,70520,514
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(3,684)(2,751)(4,793)(3,466)(3,465)5,197
Comprehensive income, net of tax, attributable to parent:12,9629,37612,44110,2088,24025,710

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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