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Side-by-side financial comparison of FONAR CORP (FONR) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $25.5M, roughly 1.8× FONAR CORP). FONAR CORP runs the higher net margin — 8.0% vs -33.9%, a 41.9% gap on every dollar of revenue. On growth, FONAR CORP posted the faster year-over-year revenue change (2.4% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs -0.3%).
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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
FONR vs STEM — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.5M | $47.1M |
| Net Profit | $2.1M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | 13.5% | -17.7% |
| Net Margin | 8.0% | -33.9% |
| Revenue YoY | 2.4% | -15.6% |
| Net Profit YoY | 4.7% | 68.8% |
| EPS (diluted) | — | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $26.0M | $38.2M | ||
| Q2 25 | $27.3M | $38.4M | ||
| Q1 25 | $27.2M | $32.5M | ||
| Q4 24 | $24.9M | $55.8M | ||
| Q3 24 | $25.0M | $29.3M | ||
| Q2 24 | $25.9M | $34.0M | ||
| Q1 24 | $25.7M | $25.5M |
| Q4 25 | $2.1M | $-16.0M | ||
| Q3 25 | $2.3M | $-23.8M | ||
| Q2 25 | $729.3K | $202.5M | ||
| Q1 25 | $2.5M | $-25.0M | ||
| Q4 24 | $2.0M | $-51.1M | ||
| Q3 24 | $3.1M | $-148.3M | ||
| Q2 24 | $830.4K | $-582.3M | ||
| Q1 24 | $1.9M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | 13.5% | -17.7% | ||
| Q3 25 | 14.1% | -33.6% | ||
| Q2 25 | 5.3% | -34.8% | ||
| Q1 25 | 15.2% | -65.0% | ||
| Q4 24 | 11.9% | -84.4% | ||
| Q3 24 | 21.0% | -493.2% | ||
| Q2 24 | 7.4% | -1705.5% | ||
| Q1 24 | 16.8% | -267.0% |
| Q4 25 | 8.0% | -33.9% | ||
| Q3 25 | 8.7% | -62.2% | ||
| Q2 25 | 2.7% | 527.8% | ||
| Q1 25 | 9.2% | -76.9% | ||
| Q4 24 | 7.9% | -91.6% | ||
| Q3 24 | 12.6% | -506.3% | ||
| Q2 24 | 3.2% | -1712.6% | ||
| Q1 24 | 7.3% | -283.9% |
| Q4 25 | — | $-4.40 | ||
| Q3 25 | — | $-2.84 | ||
| Q2 25 | — | $-1.79 | ||
| Q1 25 | — | $-0.15 | ||
| Q4 24 | — | $-15.29 | ||
| Q3 24 | — | $-18.24 | ||
| Q2 24 | — | $-71.81 | ||
| Q1 24 | — | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $176.9M | $-249.4M |
| Total Assets | $217.2M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $121.0K | $48.9M | ||
| Q3 25 | $122.0K | $43.1M | ||
| Q2 25 | $56.5M | $40.8M | ||
| Q1 25 | $123.0K | $58.6M | ||
| Q4 24 | $121.0K | $56.3M | ||
| Q3 24 | $136.0K | $75.4M | ||
| Q2 24 | $56.5M | $89.6M | ||
| Q1 24 | $134.0K | $112.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $66.9K | — | ||
| Q1 24 | — | — |
| Q4 25 | $176.9M | $-249.4M | ||
| Q3 25 | $174.9M | $-235.7M | ||
| Q2 25 | $172.6M | $-214.1M | ||
| Q1 25 | $171.9M | $-417.5M | ||
| Q4 24 | $169.8M | $-398.4M | ||
| Q3 24 | $168.7M | $-344.1M | ||
| Q2 24 | $166.0M | $-203.2M | ||
| Q1 24 | $165.8M | $371.6M |
| Q4 25 | $217.2M | $308.9M | ||
| Q3 25 | $218.4M | $362.6M | ||
| Q2 25 | $216.9M | $379.2M | ||
| Q1 25 | $214.9M | $405.1M | ||
| Q4 24 | $208.0M | $437.4M | ||
| Q3 24 | $212.3M | $537.8M | ||
| Q2 24 | $214.2M | $691.5M | ||
| Q1 24 | $209.6M | $1.3B |
| 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 | $8.2M |
| 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 | $8.2M | ||
| Q3 25 | $1.7M | $11.4M | ||
| Q2 25 | $4.2M | $-21.3M | ||
| Q1 25 | $3.1M | $8.5M | ||
| Q4 24 | $2.2M | $-14.7M | ||
| Q3 24 | $1.7M | $-9.4M | ||
| Q2 24 | $4.6M | $-11.9M | ||
| Q1 24 | $2.8M | $-621.0K |
| 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% | — | ||
| Q2 24 | 1.6% | — | ||
| Q1 24 | 0.7% | — |
| Q4 25 | 0.08× | — | ||
| Q3 25 | 0.75× | — | ||
| Q2 25 | 5.79× | -0.11× | ||
| 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% |
STEM
Segment breakdown not available.
