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Side-by-side financial comparison of Ceribell, Inc. (CBLL) and FONAR CORP (FONR). Click either name above to swap in a different company.
FONAR CORP is the larger business by last-quarter revenue ($25.5M vs $24.8M, roughly 1.0× Ceribell, Inc.). FONAR CORP runs the higher net margin — 8.0% vs -54.6%, a 62.6% gap on every dollar of revenue. FONAR CORP produced more free cash flow last quarter ($-227.0K vs $-11.0M).
Ceribell, Inc. develops and commercializes innovative portable neurodiagnostic medical devices, focused on rapid non-invasive electroencephalogram (EEG) solutions for seizure detection. Its core products serve hospital emergency departments, intensive care units, and long-term care facilities, with primary markets across North America and ongoing global expansion efforts.
FONAR Corp is a specialized medical technology firm that designs, manufactures, and distributes innovative MRI systems including upright and open models. It primarily serves U.S. hospitals, diagnostic imaging centers, and healthcare providers, delivering high-precision scanning solutions for clinical diagnostic use.
CBLL vs FONR — Head-to-Head
Income Statement — Q4 2025 vs Q2 2026
| Metric | | |
|---|---|---|
| Revenue | $24.8M | $25.5M |
| Net Profit | $-13.5M | $2.1M |
| Gross Margin | 87.3% | — |
| Operating Margin | -58.9% | 13.5% |
| Net Margin | -54.6% | 8.0% |
| Revenue YoY | — | 2.4% |
| Net Profit YoY | — | 4.7% |
| EPS (diluted) | $-0.35 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $24.8M | $25.5M | ||
| Q3 25 | $22.6M | $26.0M | ||
| Q2 25 | $21.2M | $27.3M | ||
| Q1 25 | $20.5M | $27.2M | ||
| Q4 24 | — | $24.9M | ||
| Q3 24 | $17.2M | $25.0M | ||
| Q2 24 | — | $25.9M | ||
| Q1 24 | — | $25.7M |
| Q4 25 | $-13.5M | $2.1M | ||
| Q3 25 | $-13.5M | $2.3M | ||
| Q2 25 | $-13.6M | $729.3K | ||
| Q1 25 | $-12.8M | $2.5M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | $-10.4M | $3.1M | ||
| Q2 24 | — | $830.4K | ||
| Q1 24 | — | $1.9M |
| Q4 25 | 87.3% | — | ||
| Q3 25 | 88.3% | — | ||
| Q2 25 | 88.1% | — | ||
| Q1 25 | 87.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 87.3% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -58.9% | 13.5% | ||
| Q3 25 | -64.8% | 14.1% | ||
| Q2 25 | -70.5% | 5.3% | ||
| Q1 25 | -69.3% | 15.2% | ||
| Q4 24 | — | 11.9% | ||
| Q3 24 | -57.8% | 21.0% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | — | 16.8% |
| Q4 25 | -54.6% | 8.0% | ||
| Q3 25 | -59.6% | 8.7% | ||
| Q2 25 | -64.4% | 2.7% | ||
| Q1 25 | -62.4% | 9.2% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | -60.6% | 12.6% | ||
| Q2 24 | — | 3.2% | ||
| Q1 24 | — | 7.3% |
| Q4 25 | $-0.35 | — | ||
| Q3 25 | $-0.37 | — | ||
| Q2 25 | $-0.38 | — | ||
| Q1 25 | $-0.36 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-1.85 | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $159.3M | $121.0K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $155.3M | $176.9M |
| Total Assets | $195.8M | $217.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $159.3M | $121.0K | ||
| Q3 25 | $168.5M | $122.0K | ||
| Q2 25 | $177.4M | $56.5M | ||
| Q1 25 | $182.7M | $123.0K | ||
| Q4 24 | — | $121.0K | ||
| Q3 24 | $14.1M | $136.0K | ||
| Q2 24 | — | $56.5M | ||
| Q1 24 | — | $134.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $66.9K | ||
| Q1 24 | — | — |
| Q4 25 | $155.3M | $176.9M | ||
| Q3 25 | $164.1M | $174.9M | ||
| Q2 25 | $172.2M | $172.6M | ||
| Q1 25 | $180.9M | $171.9M | ||
| Q4 24 | — | $169.8M | ||
| Q3 24 | $-136.0M | $168.7M | ||
| Q2 24 | — | $166.0M | ||
| Q1 24 | — | $165.8M |
| Q4 25 | $195.8M | $217.2M | ||
| Q3 25 | $199.5M | $218.4M | ||
| Q2 25 | $207.7M | $216.9M | ||
| Q1 25 | $213.5M | $214.9M | ||
| Q4 24 | — | $208.0M | ||
| Q3 24 | $47.1M | $212.3M | ||
| Q2 24 | — | $214.2M | ||
| Q1 24 | — | $209.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-10.8M | $171.0K |
| Free Cash FlowOCF − Capex | $-11.0M | $-227.0K |
| FCF MarginFCF / Revenue | -44.2% | -0.9% |
| Capex IntensityCapex / Revenue | 0.7% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 0.08× |
| TTM Free Cash FlowTrailing 4 quarters | $-41.6M | $5.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-10.8M | $171.0K | ||
| Q3 25 | $-11.1M | $1.7M | ||
| Q2 25 | $-7.5M | $4.2M | ||
| Q1 25 | $-11.4M | $3.1M | ||
| Q4 24 | — | $2.2M | ||
| Q3 24 | — | $1.7M | ||
| Q2 24 | — | $4.6M | ||
| Q1 24 | — | $2.8M |
| Q4 25 | $-11.0M | $-227.0K | ||
| Q3 25 | $-11.5M | $-177.0K | ||
| Q2 25 | $-7.6M | $3.6M | ||
| Q1 25 | $-11.6M | $2.6M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $-148.0K | ||
| Q2 24 | — | $4.2M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | -44.2% | -0.9% | ||
| Q3 25 | -50.8% | -0.7% | ||
| Q2 25 | -35.9% | 13.1% | ||
| Q1 25 | -56.4% | 9.4% | ||
| Q4 24 | — | 6.0% | ||
| Q3 24 | — | -0.6% | ||
| Q2 24 | — | 16.1% | ||
| Q1 24 | — | 10.2% |
| Q4 25 | 0.7% | 1.6% | ||
| Q3 25 | 1.6% | 7.2% | ||
| Q2 25 | 0.3% | 2.4% | ||
| Q1 25 | 0.7% | 2.2% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 0.7% |
| Q4 25 | — | 0.08× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | — | 5.79× | ||
| Q1 25 | — | 1.26× | ||
| Q4 24 | — | 1.14× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 5.54× | ||
| Q1 24 | — | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBLL
| Products | $18.8M | 76% |
| Subscription | $6.0M | 24% |
FONR
| Managementof Diagnostic Imaging Centers | $23.2M | 91% |
| Manufacturingand Servicingof Medical Equipment | $2.4M | 9% |
