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Side-by-side financial comparison of FONAR CORP (FONR) and NextPlat Corp (NXPL). Click either name above to swap in a different company.
FONAR CORP is the larger business by last-quarter revenue ($25.5M vs $12.8M, roughly 2.0× NextPlat Corp). FONAR CORP runs the higher net margin — 8.0% vs -40.2%, a 48.2% gap on every dollar of revenue. On growth, FONAR CORP posted the faster year-over-year revenue change (2.4% vs -21.1%). FONAR CORP produced more free cash flow last quarter ($-227.0K vs $-339.0K). Over the past eight quarters, FONAR CORP's revenue compounded faster (-0.3% CAGR vs -14.4%).
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.
FONR vs NXPL — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.5M | $12.8M |
| Net Profit | $2.1M | $-5.1M |
| Gross Margin | — | 14.3% |
| Operating Margin | 13.5% | -28.9% |
| Net Margin | 8.0% | -40.2% |
| Revenue YoY | 2.4% | -21.1% |
| Net Profit YoY | 4.7% | -70.6% |
| EPS (diluted) | — | — |
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 | $25.5M | $12.8M | ||
| Q3 25 | $26.0M | $13.8M | ||
| Q2 25 | $27.3M | $13.2M | ||
| Q1 25 | $27.2M | $14.5M | ||
| Q4 24 | $24.9M | $16.2M | ||
| Q3 24 | $25.0M | $15.4M | ||
| Q2 24 | $25.9M | $17.0M | ||
| Q1 24 | $25.7M | $17.5M |
| Q4 25 | $2.1M | $-5.1M | ||
| Q3 25 | $2.3M | $-2.2M | ||
| Q2 25 | $729.3K | $-1.8M | ||
| Q1 25 | $2.5M | $-1.3M | ||
| Q4 24 | $2.0M | $-3.0M | ||
| Q3 24 | $3.1M | $-4.2M | ||
| Q2 24 | $830.4K | $-5.3M | ||
| Q1 24 | $1.9M | $-1.5M |
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | 19.9% | ||
| Q2 25 | — | 21.8% | ||
| Q1 25 | — | 23.8% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 34.5% | ||
| Q1 24 | — | 27.8% |
| Q4 25 | 13.5% | -28.9% | ||
| Q3 25 | 14.1% | -14.5% | ||
| Q2 25 | 5.3% | -13.8% | ||
| Q1 25 | 15.2% | -10.2% | ||
| Q4 24 | 11.9% | -14.1% | ||
| Q3 24 | 21.0% | -52.1% | ||
| Q2 24 | 7.4% | -64.1% | ||
| Q1 24 | 16.8% | -10.5% |
| Q4 25 | 8.0% | -40.2% | ||
| Q3 25 | 8.7% | -15.9% | ||
| Q2 25 | 2.7% | -13.5% | ||
| Q1 25 | 9.2% | -9.2% | ||
| Q4 24 | 7.9% | -18.6% | ||
| Q3 24 | 12.6% | -27.4% | ||
| Q2 24 | 3.2% | -31.3% | ||
| Q1 24 | 7.3% | -8.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.22 | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $121.0K | $13.7M |
| Total DebtLower is stronger | — | $1.3M |
| Stockholders' EquityBook value | $176.9M | $17.3M |
| Total Assets | $217.2M | $27.5M |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $121.0K | $13.7M | ||
| Q3 25 | $122.0K | $13.9M | ||
| Q2 25 | $56.5M | $16.6M | ||
| Q1 25 | $123.0K | $17.7M | ||
| Q4 24 | $121.0K | $20.0M | ||
| Q3 24 | $136.0K | $20.4M | ||
| Q2 24 | $56.5M | $24.9M | ||
| Q1 24 | $134.0K | $23.5M |
| Q4 25 | — | $1.3M | ||
| Q3 25 | — | $1.2M | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $1.3M | ||
| Q4 24 | — | $1.4M | ||
| Q3 24 | — | $1.5M | ||
| Q2 24 | $66.9K | $1.3M | ||
| Q1 24 | — | $1.4M |
| Q4 25 | $176.9M | $17.3M | ||
| Q3 25 | $174.9M | $21.4M | ||
| Q2 25 | $172.6M | $23.5M | ||
| Q1 25 | $171.9M | $25.3M | ||
| Q4 24 | $169.8M | $27.3M | ||
| Q3 24 | $168.7M | $22.5M | ||
| Q2 24 | $166.0M | $26.5M | ||
| Q1 24 | $165.8M | $31.2M |
| Q4 25 | $217.2M | $27.5M | ||
| Q3 25 | $218.4M | $30.0M | ||
| Q2 25 | $216.9M | $31.0M | ||
| Q1 25 | $214.9M | $35.2M | ||
| Q4 24 | $208.0M | $37.1M | ||
| Q3 24 | $212.3M | $41.1M | ||
| Q2 24 | $214.2M | $51.5M | ||
| Q1 24 | $209.6M | $65.1M |
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.05× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.05× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | 0.00× | 0.05× | ||
| Q1 24 | — | 0.04× |
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 | $171.0K | $-302.0K |
| Free Cash FlowOCF − Capex | $-227.0K | $-339.0K |
| FCF MarginFCF / Revenue | -0.9% | -2.6% |
| Capex IntensityCapex / Revenue | 1.6% | 0.3% |
| Cash ConversionOCF / Net Profit | 0.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | $5.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $171.0K | $-302.0K | ||
| Q3 25 | $1.7M | $-2.7M | ||
| Q2 25 | $4.2M | $-1.0M | ||
| Q1 25 | $3.1M | $-2.1M | ||
| Q4 24 | $2.2M | $-476.0K | ||
| Q3 24 | $1.7M | $-4.6M | ||
| Q2 24 | $4.6M | $2.3M | ||
| Q1 24 | $2.8M | $-2.7M |
| Q4 25 | $-227.0K | $-339.0K | ||
| Q3 25 | $-177.0K | — | ||
| Q2 25 | $3.6M | $-1.1M | ||
| Q1 25 | $2.6M | $-2.1M | ||
| Q4 24 | $1.5M | $-508.0K | ||
| Q3 24 | $-148.0K | $-4.7M | ||
| Q2 24 | $4.2M | $2.2M | ||
| Q1 24 | $2.6M | $-2.7M |
| Q4 25 | -0.9% | -2.6% | ||
| Q3 25 | -0.7% | — | ||
| Q2 25 | 13.1% | -8.0% | ||
| Q1 25 | 9.4% | -14.3% | ||
| Q4 24 | 6.0% | -3.1% | ||
| Q3 24 | -0.6% | -30.6% | ||
| Q2 24 | 16.1% | 13.2% | ||
| Q1 24 | 10.2% | -15.7% |
| Q4 25 | 1.6% | 0.3% | ||
| Q3 25 | 7.2% | 0.0% | ||
| Q2 25 | 2.4% | 0.1% | ||
| Q1 25 | 2.2% | 0.2% | ||
| Q4 24 | 3.0% | 0.2% | ||
| Q3 24 | 7.2% | 0.6% | ||
| Q2 24 | 1.6% | 0.4% | ||
| Q1 24 | 0.7% | 0.4% |
| 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
FONR
| Managementof Diagnostic Imaging Centers | $23.2M | 91% |
| Manufacturingand Servicingof Medical Equipment | $2.4M | 9% |
NXPL
| Healthcare Operations | $9.0M | 70% |
| Ecommerce Revenue | $3.8M | 30% |
