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Side-by-side financial comparison of FONAR CORP (FONR) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $25.5M, roughly 1.4× FONAR CORP). FONAR CORP runs the higher net margin — 8.0% vs -8.9%, a 16.9% gap on every dollar of revenue. On growth, SmartRent, Inc. posted the faster year-over-year revenue change (3.1% vs 2.4%). SmartRent, Inc. produced more free cash flow last quarter ($7.7M vs $-227.0K). Over the past eight quarters, FONAR CORP's revenue compounded faster (-0.3% CAGR vs -15.0%).
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.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
FONR vs SMRT — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.5M | $36.5M |
| Net Profit | $2.1M | $-3.2M |
| Gross Margin | — | 38.6% |
| Operating Margin | 13.5% | -10.9% |
| Net Margin | 8.0% | -8.9% |
| Revenue YoY | 2.4% | 3.1% |
| Net Profit YoY | 4.7% | 71.6% |
| EPS (diluted) | — | $-0.02 |
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 | $36.5M | ||
| Q3 25 | $26.0M | $36.2M | ||
| Q2 25 | $27.3M | $38.3M | ||
| Q1 25 | $27.2M | $41.3M | ||
| Q4 24 | $24.9M | $35.4M | ||
| Q3 24 | $25.0M | $40.5M | ||
| Q2 24 | $25.9M | $48.5M | ||
| Q1 24 | $25.7M | $50.5M |
| Q4 25 | $2.1M | $-3.2M | ||
| Q3 25 | $2.3M | $-6.3M | ||
| Q2 25 | $729.3K | $-10.9M | ||
| Q1 25 | $2.5M | $-40.2M | ||
| Q4 24 | $2.0M | $-11.4M | ||
| Q3 24 | $3.1M | $-9.9M | ||
| Q2 24 | $830.4K | $-4.6M | ||
| Q1 24 | $1.9M | $-7.7M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
| Q4 25 | 13.5% | -10.9% | ||
| Q3 25 | 14.1% | -19.4% | ||
| Q2 25 | 5.3% | -30.5% | ||
| Q1 25 | 15.2% | -99.9% | ||
| Q4 24 | 11.9% | -36.6% | ||
| Q3 24 | 21.0% | -29.0% | ||
| Q2 24 | 7.4% | -14.3% | ||
| Q1 24 | 16.8% | -20.1% |
| Q4 25 | 8.0% | -8.9% | ||
| Q3 25 | 8.7% | -17.3% | ||
| Q2 25 | 2.7% | -28.3% | ||
| Q1 25 | 9.2% | -97.2% | ||
| Q4 24 | 7.9% | -32.3% | ||
| Q3 24 | 12.6% | -24.5% | ||
| Q2 24 | 3.2% | -9.5% | ||
| Q1 24 | 7.3% | -15.2% |
| Q4 25 | — | $-0.02 | ||
| Q3 25 | — | $-0.03 | ||
| Q2 25 | — | $-0.06 | ||
| Q1 25 | — | $-0.21 | ||
| Q4 24 | — | $-0.06 | ||
| Q3 24 | — | $-0.05 | ||
| Q2 24 | — | $-0.02 | ||
| Q1 24 | — | $-0.04 |
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 | $104.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $176.9M | $232.1M |
| Total Assets | $217.2M | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $121.0K | $104.5M | ||
| Q3 25 | $122.0K | $100.0M | ||
| Q2 25 | $56.5M | $105.0M | ||
| Q1 25 | $123.0K | $125.6M | ||
| Q4 24 | $121.0K | $142.5M | ||
| Q3 24 | $136.0K | $163.4M | ||
| Q2 24 | $56.5M | $187.4M | ||
| Q1 24 | $134.0K | $204.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $66.9K | — | ||
| Q1 24 | — | — |
| Q4 25 | $176.9M | $232.1M | ||
| Q3 25 | $174.9M | $234.4M | ||
| Q2 25 | $172.6M | $238.8M | ||
| Q1 25 | $171.9M | $250.7M | ||
| Q4 24 | $169.8M | $289.4M | ||
| Q3 24 | $168.7M | $305.1M | ||
| Q2 24 | $166.0M | $329.4M | ||
| Q1 24 | $165.8M | $333.1M |
| Q4 25 | $217.2M | $320.9M | ||
| Q3 25 | $218.4M | $335.8M | ||
| Q2 25 | $216.9M | $354.0M | ||
| Q1 25 | $214.9M | $366.1M | ||
| Q4 24 | $208.0M | $420.2M | ||
| Q3 24 | $212.3M | $448.6M | ||
| Q2 24 | $214.2M | $475.3M | ||
| Q1 24 | $209.6M | $485.5M |
| 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 | $171.0K | $7.7M |
| Free Cash FlowOCF − Capex | $-227.0K | $7.7M |
| FCF MarginFCF / Revenue | -0.9% | 21.0% |
| Capex IntensityCapex / Revenue | 1.6% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | $5.7M | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $171.0K | $7.7M | ||
| Q3 25 | $1.7M | $-2.1M | ||
| Q2 25 | $4.2M | $-14.9M | ||
| Q1 25 | $3.1M | $-12.2M | ||
| Q4 24 | $2.2M | $-12.0M | ||
| Q3 24 | $1.7M | $-3.7M | ||
| Q2 24 | $4.6M | $-13.9M | ||
| Q1 24 | $2.8M | $-3.3M |
| Q4 25 | $-227.0K | $7.7M | ||
| Q3 25 | $-177.0K | $-2.2M | ||
| Q2 25 | $3.6M | $-16.2M | ||
| Q1 25 | $2.6M | $-14.3M | ||
| Q4 24 | $1.5M | $-13.3M | ||
| Q3 24 | $-148.0K | $-3.9M | ||
| Q2 24 | $4.2M | $-14.1M | ||
| Q1 24 | $2.6M | $-3.4M |
| Q4 25 | -0.9% | 21.0% | ||
| Q3 25 | -0.7% | -6.1% | ||
| Q2 25 | 13.1% | -42.3% | ||
| Q1 25 | 9.4% | -34.7% | ||
| Q4 24 | 6.0% | -37.5% | ||
| Q3 24 | -0.6% | -9.7% | ||
| Q2 24 | 16.1% | -29.1% | ||
| Q1 24 | 10.2% | -6.7% |
| Q4 25 | 1.6% | 0.0% | ||
| Q3 25 | 7.2% | 0.2% | ||
| Q2 25 | 2.4% | 3.3% | ||
| Q1 25 | 2.2% | 5.3% | ||
| Q4 24 | 3.0% | 3.5% | ||
| Q3 24 | 7.2% | 0.6% | ||
| Q2 24 | 1.6% | 0.5% | ||
| Q1 24 | 0.7% | 0.1% |
| 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% |
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
