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Side-by-side financial comparison of FONAR CORP (FONR) and SolarMax Technology, Inc. (SMXT). Click either name above to swap in a different company.
SolarMax Technology, Inc. is the larger business by last-quarter revenue ($46.6M vs $25.5M, roughly 1.8× FONAR CORP). FONAR CORP runs the higher net margin — 8.0% vs -1.9%, a 9.9% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% vs 2.4%).
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.
SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.
FONR vs SMXT — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.5M | $46.6M |
| Net Profit | $2.1M | $-872.2K |
| Gross Margin | — | 2.7% |
| Operating Margin | 13.5% | -2.7% |
| Net Margin | 8.0% | -1.9% |
| Revenue YoY | 2.4% | 623.5% |
| Net Profit YoY | 4.7% | 77.7% |
| 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 | $46.6M | ||
| Q3 25 | $26.0M | $30.6M | ||
| Q2 25 | $27.3M | $6.9M | ||
| Q1 25 | $27.2M | $6.9M | ||
| Q4 24 | $24.9M | $6.4M | ||
| Q3 24 | $25.0M | $6.3M | ||
| Q2 24 | $25.9M | — | ||
| Q1 24 | $25.7M | — |
| Q4 25 | $2.1M | $-872.2K | ||
| Q3 25 | $2.3M | $-2.3M | ||
| Q2 25 | $729.3K | $-1.9M | ||
| Q1 25 | $2.5M | $-1.3M | ||
| Q4 24 | $2.0M | $-3.9M | ||
| Q3 24 | $3.1M | $-9.6M | ||
| Q2 24 | $830.4K | — | ||
| Q1 24 | $1.9M | — |
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 20.5% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 13.5% | -2.7% | ||
| Q3 25 | 14.1% | -6.9% | ||
| Q2 25 | 5.3% | -25.7% | ||
| Q1 25 | 15.2% | -16.7% | ||
| Q4 24 | 11.9% | -27.9% | ||
| Q3 24 | 21.0% | -158.4% | ||
| Q2 24 | 7.4% | — | ||
| Q1 24 | 16.8% | — |
| Q4 25 | 8.0% | -1.9% | ||
| Q3 25 | 8.7% | -7.4% | ||
| Q2 25 | 2.7% | -27.6% | ||
| Q1 25 | 9.2% | -18.7% | ||
| Q4 24 | 7.9% | -60.6% | ||
| Q3 24 | 12.6% | -152.0% | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 7.3% | — |
| Q4 25 | — | $-0.02 | ||
| Q3 25 | — | $-0.04 | ||
| Q2 25 | — | $-0.04 | ||
| Q1 25 | — | $-0.03 | ||
| Q4 24 | — | $-0.07 | ||
| Q3 24 | — | $-0.21 | ||
| 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 | $121.0K | $8.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $176.9M | $-12.2M |
| Total Assets | $217.2M | $91.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $121.0K | $8.0M | ||
| Q3 25 | $122.0K | $5.7M | ||
| Q2 25 | $56.5M | $1.9M | ||
| Q1 25 | $123.0K | $6.8M | ||
| Q4 24 | $121.0K | $7.1M | ||
| Q3 24 | $136.0K | $8.6M | ||
| 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 | $176.9M | $-12.2M | ||
| Q3 25 | $174.9M | $-11.8M | ||
| Q2 25 | $172.6M | $-15.1M | ||
| Q1 25 | $171.9M | $-15.9M | ||
| Q4 24 | $169.8M | $-15.1M | ||
| Q3 24 | $168.7M | $-10.9M | ||
| Q2 24 | $166.0M | — | ||
| Q1 24 | $165.8M | — |
| Q4 25 | $217.2M | $91.3M | ||
| Q3 25 | $218.4M | $58.7M | ||
| Q2 25 | $216.9M | $38.2M | ||
| Q1 25 | $214.9M | $38.6M | ||
| Q4 24 | $208.0M | $38.6M | ||
| Q3 24 | $212.3M | $43.0M | ||
| 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 | $171.0K | $-2.5M |
| Free Cash FlowOCF − Capex | $-227.0K | — |
| FCF MarginFCF / Revenue | -0.9% | — |
| Capex IntensityCapex / Revenue | 1.6% | — |
| 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 | $-2.5M | ||
| Q3 25 | $1.7M | $3.4M | ||
| Q2 25 | $4.2M | $220.7K | ||
| Q1 25 | $3.1M | $-601.1K | ||
| Q4 24 | $2.2M | $-1.3M | ||
| Q3 24 | $1.7M | $203.6K | ||
| Q2 24 | $4.6M | — | ||
| Q1 24 | $2.8M | — |
| Q4 25 | $-227.0K | — | ||
| Q3 25 | $-177.0K | — | ||
| Q2 25 | $3.6M | — | ||
| Q1 25 | $2.6M | — | ||
| Q4 24 | $1.5M | — | ||
| Q3 24 | $-148.0K | — | ||
| Q2 24 | $4.2M | — | ||
| Q1 24 | $2.6M | — |
| Q4 25 | -0.9% | — | ||
| Q3 25 | -0.7% | — | ||
| Q2 25 | 13.1% | — | ||
| Q1 25 | 9.4% | — | ||
| Q4 24 | 6.0% | — | ||
| Q3 24 | -0.6% | — | ||
| Q2 24 | 16.1% | — | ||
| Q1 24 | 10.2% | — |
| Q4 25 | 1.6% | — | ||
| Q3 25 | 7.2% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 7.2% | 0.0% | ||
| 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
FONR
| Managementof Diagnostic Imaging Centers | $23.2M | 91% |
| Manufacturingand Servicingof Medical Equipment | $2.4M | 9% |
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
