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Fonar Corporation: Business Overview, Financials & Competitive Analysis

Fonar Corporation designs, manufactures, sells, and services magnetic resonance imaging (MRI) scanners, operating through Medical Equipment Manufacturing and Diagnostic Imaging Center Management segments. The company'...

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5/ 10Mixed

Cyborg Score thesis

Niche medical equipment innovator with solid profitability but declining core business, operating in a capital-intensive market...

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Industry Medical Devices - Diagnostic Imaging (MRI Equipment Manufacturing and Healthcare Services)
3 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: October 5, 2026
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Fonar Corporation Overview

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Fonar Corporation designs, manufactures, sells, and services magnetic resonance imaging (MRI) scanners, operating through Medical Equipment Manufacturing and Diagnostic Imaging Center Management segments. The company's signature product is a multi-position MRI scanner that performs imaging in various weight-bearing positions such as standing, sitting, and flexion/extension, minimizing patient motion and claustrophobia while enabling high-resolution analysis.

Strategic Profile

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Fonar is deeply rooted in MRI technology development and has been instrumental in establishing the industry through historical breakthroughs. The company holds a portfolio of 209 patents related to its MRI technology, including its unique upright MRI scanning technology, with cross-licensing agreements on some patents but no licensing of its upright MRI technology, further strengthening competitive advantage.

Competitive Landscape

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Fonar competes with major multinational medical device manufacturers including GE, Siemens, and Toshiba, firms that are significantly larger and possess greater resources. The company markets its scanners to private diagnostic imaging centers and hospital outpatient imaging facilities.

Industry Context

Fonar Corporation operates in Medical Devices - Diagnostic Imaging (MRI Equipment Manufacturing and Healthcare Services).

Key facts

Founded: 1978 · Headquarters: Melville, New York, US · Revenue: $24.95M · Market cap: $92.3M

What the analysts stress-tested

The top findings that survived the multi-agent debate for Fonar Corporation.

  • Sticky recurring revenue from patient fees, management, and maintenance services through subsidiary Health Management Corporation of America, as clients are reluctant to switch providers due to high associated costs
  • Strong current ratio of 11.24, indicating robust ability to pay short-term obligations
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Recent developments

Material events tracked by the AskCyborg corpus.

  • December 2025Stock price at $18.60 with market cap approximately $92.3M
  • May 2026Next earnings date scheduled for May 15, 2026
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

MRI SystemsGlobal medical imaging and diagnostics leader→MRI ScannersMajor multinational medical technology manufacturer→MRI EquipmentJapanese medical imaging equipment provider→

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Industry context

Fonar Corporation operates in Medical Devices - Diagnostic Imaging (MRI Equipment Manufacturing and Healthcare Services). See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Fonar Corporation do?+
Fonar Corporation designs, manufactures, sells, and services magnetic resonance imaging (MRI) scanners, operating through Medical Equipment Manufacturing and Diagnostic Imaging Center Management segments. The company'...
What is Fonar Corporation's Cyborg Score?+
Fonar Corporation has a Cyborg Score of 5/10 (Mixed). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Fonar Corporation's main competitors?+
Named competitors include MRI Systems, MRI Scanners, MRI Equipment. The full competitive landscape is in the AskCyborg report.
How can I get the full Fonar Corporation research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Fonar Corporation research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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