Revenue Performance - Revenue for Q1 2025 was $7.1 million, a 45% increase from $4.9 million in Q1 2024[5] - Revenue for the period ended March 31, 2025, was $7,056,116, compared to $4,877,378 for the same period in 2024, representing a year-over-year increase of approximately 44.7%[26] - For the full year 2025, revenue is expected to be in the range of $28 to $30 million[11] Net Loss and Adjusted EBITDA - Net loss for the quarter was $1.1 million, or $0.04 per share, compared to a net loss of $1.2 million, or $0.04 per share, in the prior year[5] - Net loss for the period ended March 31, 2025, was $(1,125,862), an improvement from a net loss of $(1,212,615) in the prior year, indicating a reduction in losses of about 7.1%[26] - Adjusted EBITDA for the quarter was $(0.1) million, a decline of 149% from $0.1 million in the prior year[5] - Adjusted EBITDA for the full year 2025 is expected to be in the range of ($1.0) to $1.0 million[11] - Adjusted EBITDA for the period ended March 31, 2025, was $(50,778), compared to $104,417 in the same period of 2024, reflecting a decline in operational performance[26] Cash and Liquidity - Cash, cash equivalents, and marketable securities totaled $35.7 million as of March 31, 2025[5] - Cash and cash equivalents at the end of the period were $5,704,671, up from $1,029,128 at the end of the previous year, marking a significant increase in liquidity[17] - Net cash provided by operating activities was $448,180 for the period, a substantial recovery from $(2,208,070) in the prior year[17] - Cash used in financing activities was $(172,295) for the period, a decrease from $(1,031,363) in the prior year, indicating improved cash management[17] Assets and Liabilities - Total current assets increased to $46.4 million from $44.5 million as of December 31, 2024[13] - Total liabilities increased to $18.6 million from $17.1 million as of December 31, 2024[13] Operational Improvements - The company achieved continued growth from pharmaceutical and biotech companies, reflecting increased adoption of its data solutions[5] - The company integrated Kyber Data Science's platform, enhancing its predictive analytics and financial services capabilities[5] - The company incurred stock-based compensation expense of $1,292,786 for the period, down from $1,658,915 in the previous year, indicating a reduction of approximately 22.1%[26] - The company reported accrued interest on convertible notes of $51,344 for the period, significantly lower than $197,630 in the previous year, reflecting a decrease of approximately 74.0%[17] - The company’s accounts receivable decreased by $(1,400,838) compared to $(1,694,851) in the previous year, indicating improved collection efforts[17] Marketable Securities - The company reported a gain on sale of marketable securities amounting to $30,546,000, compared to $45,359,108 in the previous year, showing a decrease of about 32.6%[17]
Forian(FORA) - 2025 Q1 - Quarterly Results