Financial Performance - Revenue for Q3 2024 was $4.7 million, a decrease of 12% from $5.3 million in Q3 2023[3] - Net loss from continuing operations for the quarter was $0.2 million, or $0.01 per share, compared to net income of $4.3 million, or $0.14 per share, in the prior year[3] - Adjusted EBITDA for the quarter was $0.2 million, down 83% from $1.1 million in the prior year[3] - Forian Inc. reported revenue of $4,686,312 for the three months ended September 30, 2024, a decrease from $5,348,469 in the same period of 2023, representing a decline of approximately 12.4%[13] - The total costs and expenses for the three months ended September 30, 2024, were $5,482,141, compared to $6,155,737 in the prior year, reflecting a decrease of about 10.9%[13] - The operating loss from continuing operations for the three months ended September 30, 2024, was $(795,829), slightly improved from $(807,268) in the same period of 2023[13] - For the nine months ended September 30, 2024, the net loss income was $(3,970,781), compared to a net income of $9,717,744 in the same period of 2023[14] - Forian Inc. recorded a total other income of $495,026 for the three months ended September 30, 2024, significantly lower than $6,354,102 in the same period of 2023[13] - Adjusted EBITDA for the three months ended September 30, 2024, was $185,916, compared to $1,072,147 for the same period in 2023, indicating a significant decline[31] - Net loss from continuing operations for the three months ended September 30, 2024, was $(204,907), compared to a net income of $5,453,643 for the same period in 2023[31] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $49.4 million as of September 30, 2024[3] - The cash and cash equivalents at the end of the period were $2,707,688, down from $5,377,079 at the end of September 30, 2023, indicating a decrease of approximately 49.7%[14] - Total assets decreased to $57.5 million from $58.9 million year-over-year[12] Liabilities and Equity - Total current liabilities were $30.1 million as of September 30, 2024, compared to $6.8 million in the prior year[9] - Total stockholders' equity increased to $26.9 million from $26.2 million year-over-year[11] Acquisitions and Strategic Moves - Forian acquired Kyber Data Science on October 31, 2024, enhancing its analytics offerings and expanding market reach[4] - The company plans to leverage its acquisition to capitalize on emerging opportunities in the financial services industry[4] - The company redeemed 3.5% Convertible Notes and outstanding equity of over $15 million in October and November 2024[4] Expenses and Adjustments - The company incurred research and development expenses of $291,962 for the three months ended September 30, 2024, compared to $264,781 in the same period of 2023, marking an increase of approximately 10.3%[13] - Stock-based compensation expense for the three months ended September 30, 2024, was $1,552,042, slightly up from $1,551,997 in the same period of 2023[31] - Interest expense related to convertible notes was $195,415 for the three months ended September 30, 2024, compared to $211,333 in the same period of 2023[31] - The company incurred severance expenses of $250,000 related to the resignation of the CEO during the nine months ended September 30, 2023[23] - The company recorded an adjustment of $542,389 for the impact of contract termination during the quarter ended September 30, 2024[26] - Interest and investment income for the three months ended September 30, 2024, was $(658,339), compared to $(646,832) in the same period of 2023[31] Non-GAAP Measures - Forian Inc. provided a non-GAAP measure of Adjusted EBITDA, which is intended to supplement the net loss calculated in accordance with U.S. GAAP[15] - The company excluded depreciation and amortization expenses from Adjusted EBITDA, which were $6,629 for the three months ended September 30, 2024[31] - The company believes that the presentation of Adjusted EBITDA helps investors understand management's decisions based on performance metrics[17]

NEWTOWN, Pa., Nov. 13, 2024 (GLOBE NEWSWIRE) -- NEWTOWN, Pa.  Forian Inc. (Nasdaq: FORA), a leading provider of data science driven information and analytics solutions to the life science, healthcare and financial services industries, today announced results for the quarter ended September 30, 2024. “While this quarter’s revenue remained steady, our team’s commitment to driving long-term value has resulted in progress in our strategic vision. The addition of Kyber Data Science enhances the momentum we are b ...

NEWTOWN, Pa., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Forian Inc. (Nasdaq: FORA) announces that Max Wygod, Chief Executive Officer and Executive Chairman, and Mike Vesey, Chief Financial Officer, will attend ROTH MKM’s 13th annual Technology Event, which will be held on November 19th – 20th, 2024, at the Hard Rock Hotel in New York City. This year’s event will consist of 1-on-1 / small group meetings with over 70 innovative growth companies spanning the technology landscape. The format will provide investors with ...

NEWTOWN, Pa., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Forian Inc. (Nasdaq: FORA), a provider of data science driven information and analytics solutions to the healthcare and life sciences industries, will announce its third quarter 2024 financial results on Wednesday, November 13, 2024, after the close of the market. The Company will host a conference call and webcast at 4:30 p.m. (ET) on November 13, 2024 to discuss the results. To register for the conference call, click here. The webcast will be available live ...

NEWTOWN, PA, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Forian Inc. (Nasdaq: FORA), a provider of data science driven information and analytics solutions to the healthcare and life sciences industries, today announced it has acquired Kyber Data Science LLC (“Kyber”), a trusted provider of advanced healthcare data analytics and machine learning solutions to the financial services industry, from TD Cowen. This strategic acquisition strengthens Forian’s position in the healthcare information marketplace through the add ...

Forian Inc. (NASDAQ:FORA) Q2 2024 Earnings Conference Call August 14, 2024 4:30 PM ET Company Participants Max Wygod - Executive Chairman and CEO Michael Vesey - CFO Conference Call Participants Richard Baldry - ROTH Capital Partners Operator Greetings, and welcome to Forian's Second Quarter 2024 Financial Results Conference Call and Webcast. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal comments and webcast. Participating today from Forian are ...

Forian Inc. (FORA) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of $0.03. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -200%. A quarter ago, it was expected that this company would post earnings of $0.03 per share when it actually produced earnings of $0.01, delivering a surprise of -66.67%. Over the last four quarters, the company has not been able to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-40146 FORIAN INC. (Exact name of registrant as specified in its charter) Delaware 85-3467693 (State of Other Jurisdiction of incorporation or Organization) (I.R.S. Employer Identific ...

Exhibit 99.1 Forian Inc. Announces Second Quarter 2024 Financial Results Newtown, PA, August 14, 2024 (GLOBE NEWSWIRE) – Forian Inc. (Nasdaq: FORA), a provider of data science driven information and analytics solutions to the healthcare and life sciences industries, today announced results for the quarter ended June 30, 2024. "We continued to invest in our information assets in the second quarter to further differentiate our offerings and the insights they power for our customers. We remain confident that o ...

NEWTOWN, PA , Aug. 02, 2024 (GLOBE NEWSWIRE) -- Forian Inc. (Nasdaq: FORA), a provider of data science driven information and analytics solutions to the healthcare and life sciences industries, will announce its second quarter 2024 financial results on Wednesday, August 14, 2024, after the close of the market. The Company will host a conference call and webcast at 4:30 p.m. (ET) on August 14, 2024 to discuss the results. To register for the conference call, click here. The webcast will be available live at ...