---
schema_version: "secwatch.filing_event.v1"
accession: "0000355019-23-000059"
form_type: "8-K"
ticker: "FONR"
cik: "0000355019"
company_name: "FONAR CORP"
filed_at: "2023-11-15T23:59:59+00:00"
generated_at: "2026-06-08T02:52:31.363545+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fonar Q1 fiscal 2024 net income doubles to $5.4M; diluted EPS $0.59 vs $0.29

## Summary
- Total revenues net up 11% to $25.8M; income from operations up 68% to $6.6M.
- MRI scan volume at HMCA sites rose 14% to record 50,744 scans.
- Diluted EPS doubled to $0.59; book value per share up 7% to $23.88.
- Cash and equivalents $51.7M; working capital $114.9M, current ratio 9.1.
- Repurchased 146,359 shares for $2.47M under $9M buyback plan; now exclusive distributor of SwiftMR AI software.

## SEC filing metadata
- accession: 0000355019-23-000059
- form_type: 8-K
- ticker: FONR
- cik: 0000355019
- company_name: FONAR CORP
- filed_at: 2023-11-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/355019/000035501923000059/0000355019-23-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/355019/000035501923000059/fonar_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000355019-23-000059
- JSON: https://secwatch.observer/filing/0000355019-23-000059.json
- Plain text: https://secwatch.observer/filing/0000355019-23-000059.txt

## Key facts
- Earnings Releases
  FONAR CORP reported the 1st Quarter of Fiscal 2024 which ended September 30, 2023 results: revenue $25.8 million, net income $5.4 million, EPS $0.59.
  - Period: the 1st Quarter of Fiscal 2024 which ended September 30, 2023
  - Revenue: $25.8 million
  - Net income: $5.4 million
  - EPS: $0.59
  - Result: reported results
  source text: * Cash and cash equivalents increased 1% to $51.7 million at September 30, 2023 as compared to the fiscal year-ended June 30, 2023. * Total Revenues - Net increased by 11% to $25.8 million for the quarter ended September 30, 2023 versus the corresponding quarter one year earlier. * Income from Operations increased 68% to $6.6 million for the quarter ended
  evidence_url: https://www.sec.gov/Archives/edgar/data/355019/000035501923000059/0000355019-23-000059-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.