Business Overview - Forian's subscription and services-based solutions cover life sciences, pharmaceutical services, healthcare payer and provider, and financial services industries[25]. - As of February 10, 2023, Forian completed the sale of BioTrack, resulting in the cessation of software solutions for the cannabis industry, while retaining certain license rights[27]. - On October 31, 2024, Forian acquired 100% of Kyber Data Science LLC, enhancing its offerings in healthcare information products for the financial services industry[27]. - Forian's databases include billions of de-identified patient events dating back to 2014, representing the majority of the U.S. population, updated regularly to enhance data offerings[38]. - The U.S. healthcare spending is approximately 17% of GDP, with a growing emphasis on digitizing medical records and integrating disparate data sources[32]. - Forian's information products are largely subscription-based, with multi-year contracts providing tailored solutions to clients[41]. - The company aims to drive growth by acquiring new customers and increasing usage within the existing customer base through cross-selling additional information solutions[45]. - Forian's technology platform processes and integrates various data sources to produce a longitudinal database, enhancing its competitive edge in the market[44]. - The healthcare analytics market is segmented into clinical analytics, commercial analytics, and technology platform solutions, with increasing demand for integrated data solutions[33]. - Forian's competitive strengths include deep domain expertise, a diverse customer base, and a flexible approach to privacy-focused analytics software[44]. Financial Performance - Revenues for the year ended December 31, 2024, were $20,153,263, a decrease of $1,063,721 (approximately 5%) compared to $21,216,984 in 2023[150]. - Cost of revenues increased to $7,334,163 in 2024, up $1,857,131 (approximately 34%) from $5,477,032 in 2023, largely due to the Kyber acquisition and higher information licensing expenses[151]. - Gross profit as a percentage of revenues decreased to 64% in 2024 from 74% in 2023[151]. - Research and development expenses rose to $1,444,745 in 2024, an increase of $37,165 (approximately 3%) compared to $1,407,580 in 2023, influenced by the Kyber acquisition[152]. - Sales and marketing expenses decreased to $4,334,289 in 2024, down $623,544 (approximately 13%) from $4,957,833 in 2023, due to lower severance and commissions[153]. - General and administrative expenses were $12,536,940 in 2024, a slight decrease of $63,268 (approximately 0.5%) from $12,600,208 in 2023[154]. - Litigation settlements and related expenses decreased to $669,955 in 2024, down $363,030 (approximately 35%) from $1,032,985 in 2023[155]. - Adjusted EBITDA for the year ended December 31, 2024, was $489,134, a decrease of $2,509,334 compared to $2,998,468 for 2023[168]. - Net loss from continuing operations for 2024 was $(3,771,070), compared to a net income of $2,395,518 in 2023[167]. - Net cash provided by operating activities decreased to $282,827 in 2024 from $787,893 in 2023, a decline of $505,066[171]. Risks and Challenges - The company faces risks related to its limited operating history and may require additional capital for operations and expansion[59][60]. - The company depends on external data sources for its information products, which poses risks if access to this data is lost or restricted[61]. - The company’s growth strategy includes acquisitions, which may involve risks related to identifying suitable candidates and successful integration[62][63]. - The company faces risks related to the evolving federal and state privacy and data protection laws, which may increase operating costs and impact service delivery[84]. - Compliance with new privacy laws may require significant investment and could expose the company to liabilities if not adhered to properly[85]. - Cybersecurity threats pose significant risks to the company's systems and data, potentially leading to substantial costs related to rebuilding systems and defending against litigation[92]. - The competitive market for qualified personnel poses a challenge for the company in attracting and retaining necessary expertise, which could impact business continuity[77]. - Consolidation among customers may reduce service purchases, negatively affecting the company's revenue and financial condition[83]. - The company may struggle to accurately forecast operating results and growth rates, which could lead to lower-than-anticipated financial performance and stock price declines[82]. Compliance and Governance - The company has identified material weaknesses in its internal control over financial reporting, which could lead to inaccuracies in financial statements and loss of investor confidence[78]. - As of December 31, 2024, the company concluded that its disclosure controls and procedures were not effective, particularly regarding payables transactions and revenue recognition under ASC 606[79]. - The company intends to remediate identified material weaknesses, but insufficient remediation efforts could adversely affect financial reporting accuracy and compliance with SEC rules[80]. - The company has implemented practices to comply with applicable privacy laws, including engaging third parties for guidance on data de-identification[88]. - The company does not intend to pay dividends on its common stock, limiting returns to stockholders to stock price appreciation[97]. - Directors and management own approximately 46% of the company's common stock, allowing them to exert significant control over stockholder approval matters[98]. - The company is classified as an emerging growth company, allowing it to take advantage of reduced reporting requirements, which may affect its attractiveness to investors[105]. Cybersecurity and Data Management - The company prioritizes a strong cybersecurity program to safeguard sensitive information and protect its operations[110]. - The company maintains an enterprise-wide information systems security program to safeguard its information systems and assist in reporting cybersecurity incidents[115]. - The company evaluates third-party providers to manage risks associated with data breaches or cybersecurity incidents[118]. - The company has established oversight mechanisms for managing cybersecurity risks, involving regular assessments and engagement with external experts[117]. - The company relies on third-party vendors for data security, and any breaches in their systems could materially impact the company's operations and financial results[94]. Employee and Workforce - As of April 9, 2025, the company had 48 employees, with a positive relationship with its workforce and no organized work stoppages[55]. - Severance expenses for the year ended December 31, 2023, included $250,000 related to salary continuation for the former CEO[31]. - Separation expenses related to the CEO's resignation included $250,000 for salary continuation and $349,832 for accelerated vesting of stock for the six months ended June 30, 2023[218].

NEWTOWN, Pa., Dec. 16, 2024 (GLOBE NEWSWIRE) -- 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 a partnership with Databricks, the data and AI company, to deliver access to its Chartis™ product, which maps physician and organization affiliations, through Databricks Marketplace. This collaboration will empower healthcare organizations with enhanced visibility into Foria ...

Forian Inc. (NASDAQ:FORA) Q3 2024 Earnings Conference Call November 13, 2024 4:30 PM ET Company Participants Max Wygod - Executive Chairman and CEO Michael Vesey - CFO Conference Call Participants Richard Baldry - ROTH Capital Operator Greetings, and welcome to Forian Inc. Third Quarter 2024 Financial Results Conference Call and Webcast. At this time, all participants are in a listen only mode. A question-and-answer session will follow the formal comments and webcast. Participating today from Forian are Ma ...

Forian Inc. (FORA) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to earnings 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 a loss of $0.03, delivering a surprise of -200%.Over the last four quarters, the company has surpa ...

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 September 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 Iden ...

Exhibit 99.1 Forian Inc. Announces Third Quarter 2024 Financial Results Newtown, PA, November 13, 2024 (GLOBE NEWSWIRE) – 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 a ...

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 ...