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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Revenues    
Patient fee revenue, net of contractual allowances and discounts $ 29,793,993 $ 29,582,238
Product sales – net 731,607 517,939
Service and repair fees – net 7,419,104 7,590,865
Service and repair fees – related parties – net 110,000 110,000
Management and other fees – net 48,640,497 48,226,787
Management and other fees – related party medical practices – net 11,949,900 11,564,316
Total Revenues – Net 98,645,101 97,592,145
Costs and Expenses    
Costs related to product sales 852,025 416,814
Costs related to service and repair fees 3,033,967 2,991,069
Costs related to service and repair fees – related parties 44,983 43,344
Costs related to patient fee revenue 16,183,166 13,307,819
Costs related to management and other fees 26,975,563 27,251,268
Costs related to management and other fees – related party medical practices 5,807,454 6,567,887
Research and development 1,567,749 1,494,181
Selling, general and administrative expenses 29,390,932 23,512,581
Total Costs and Expenses 83,855,839 75,584,963
Income from Operations 14,789,262 22,007,182
Other Income and (Expenses):    
Interest expense (50,131) (346,552)
Investment income 1,222,176 247,158
Other (expense) income (202,720) 861,087
Income before provision for income taxes and noncontrolling interests 15,758,587 22,768,875
Provision for Income Taxes (3,632,071) (5,534,487)
Net Income 12,126,516 17,234,388
Net Income – Noncontrolling Interests (2,750,740) (4,793,482)
Net Income – Attributable to FONAR $ 9,375,776 $ 12,440,906