Fonar (FONR)

Executive Summary

Fonar Corporation is the pioneer of Upright Multi-Position MRI, a technology that allows patients to be scanned in weight-bearing positions (sitting, standing, bending) where symptoms arise—unlike traditional supine-only MRI systems. Founded in 1978 and headquartered in Melville, New York, Fonar has established a strong intellectual property portfolio and a recognizable brand in musculoskeletal imaging. The company generates revenue through the sale and service of its Upright MRI scanners, as well as through royalties from licensing its patents. With a market capitalization around $119 million and approximately 6.2 million shares outstanding, Fonar trades on the NYSE American under the ticker FONR. Despite being classified as private in some databases, the company is publicly traded and reports quarterly earnings. Its focus on addressing the diagnostic gap for back pain—the leading cause of disability globally—positions it to benefit from increasing demand for advanced imaging modalities that improve diagnostic accuracy and patient outcomes.

Upcoming Catalysts (preview)

• Q4 2026Expansion of Upright MRI installations in U.S. outpatient imaging centers65% success
• Q3 2026FDA clearance for next-generation software upgrade enabling faster scanning70% success
• Q4 2026Royalty revenue increase from patent licensing agreements with major MRI manufacturers60% success