Core Insights - FONAR Corporation reported a 1% increase in total net revenues to $104.4 million for the fiscal year ended June 30, 2025, compared to $102.9 million for the previous fiscal year [3][7] - The company experienced a 30% decrease in income from operations, falling to $11.6 million, and a 24% decrease in net income to $10.7 million for the same period [9][12] - The diagnostic imaging management subsidiary, Health Management Company of America (HMCA), continues to grow, managing 44 MRI scanners and achieving a record scan volume of 216,317 in Fiscal 2025, a 3.3% increase from the previous year [13][14] Financial Performance - Total revenues increased by 1% to $104.4 million for the fiscal year ended June 30, 2025, compared to $102.9 million for the fiscal year ended June 30, 2024 [3][7] - Total costs and expenses rose by 7% to $92.8 million, up from $86.3 million in the previous fiscal year [3] - Income from operations decreased by 30% to $11.6 million, down from $16.5 million in the previous fiscal year [9] - Net income decreased by 24% to $10.7 million, compared to $14.1 million in the previous fiscal year [9][12] - Diluted net income per common share fell by 20% to $1.23 from $1.53 in the previous fiscal year [9] Revenue Breakdown - Revenues from the management of the diagnostic imaging center segment increased by 1% to $95.4 million for the fiscal year ended June 30, 2025, compared to $94.6 million for the previous fiscal year [4] - Revenues from product sales and upgrades, as well as service and repair fees, totaled $9.0 million, an increase from $8.3 million in the previous fiscal year [5] Cash and Assets - Cash and cash equivalents remained stable at $56.3 million as of June 30, 2025, compared to the previous fiscal year [7][10] - Total assets increased to $216.9 million from $214.2 million in the previous fiscal year [10] - Total stockholders' equity rose to $160.1 million from $156.8 million in the previous fiscal year [12] Operational Highlights - The company added two MRI scanners in Fiscal 2025, bringing the total to 44, with locations in New York and Florida [7][14] - Scan volume in New York increased by 4.4%, while Florida saw a modest increase of 1.6%, impacted by tort reform affecting MRI providers [13] - Research and development expenses decreased by 9% to $1.6 million, while selling, general, and administrative expenses increased by 11% to $29.7 million [8] Stock Repurchase and Future Plans - The stock repurchase plan initiated in September 2022 has repurchased 373,942 shares at a cost of approximately $6.07 million [15] - The company has temporarily suspended share repurchases due to a potential "Take Private" transaction announced in July 2025 [15]