Forian(FORA) - 2025 Q2 - Quarterly Results

Executive Summary and Q2 2025 Highlights Forian Inc. reported strong Q2 2025 financial results with significant growth and reconfirmed its positive full-year 2025 outlook Announcement and CEO Commentary Forian Inc. announced strong Q2 2025 results, with CEO emphasizing successful business development and strategic investments - Forian Inc. announced strong second quarter 2025 financial results, reflecting continued execution and extending its track record of growth and operational discipline[3] - CEO Max Wygod emphasized successful business development, expanding core capabilities, and generating positive momentum, while remaining focused on organic and strategic investments[3] Second Quarter 2025 Financial Performance Forian delivered significant Q2 2025 financial improvements, with 56% revenue growth and 656% Adjusted EBITDA growth Second Quarter 2025 Financial Results (Unaudited) | Metric | Q2 2025 | Q2 2024 | Period over Period % Change | | :--------------------------------- | :---------- | :---------- | :-------------------------- | | Revenue | $7,476,140 | $4,777,101 | 56% | | Net income (loss) | $224,793 | $(2,553,259) | 109% | | Income (loss) per share - basic and diluted | $0.01 | $(0.08) | 113% | | Adjusted EBITDA | $591,073 | $78,202 | 656% | - Revenue for the quarter was $7.5 million, a $2.7 million increase from $4.8 million in the prior year[5] - Net income for the quarter was $0.2 million, or $0.01 per share, compared to a net loss of $2.6 million, or $0.08 per share, in the prior year[5] Full Year 2025 Outlook Forian reconfirmed its full-year 2025 outlook, projecting revenue of $28-30 million and Adjusted EBITDA of ($1.0)-1.0 million - The Company reconfirmed its full-year 2025 outlook based on information as of August 13, 2025[5] Full Year 2025 Outlook | Metric | Expected Range | | :---------------- | :--------------------- | | Revenue | $28 to $30 million | | Adjusted EBITDA | ($1.0) to $1.0 million | - The outlook is supported by strong quarterly revenue (reflecting acquisition impacts, strategic contract renewals, and new wins), strong profitability from operational efficiencies, and signed strategic deals to enhance data assets and offerings[5] Company Information and Investor Relations This section outlines Forian's business, conference call details, and forward-looking statement cautions About Forian Forian Inc. provides data science-driven information and analytics solutions for life science, healthcare, and financial services - Forian provides a unique suite of data management capabilities and proprietary information and analytics solutions to optimize and measure operational, clinical and financial performance[8] - The company serves customers within the traditional and emerging life sciences and healthcare payer and provider segments, and the financial services industry through its acquisition of Kyber Data Science[8] - Forian has industry-leading expertise in acquiring, integrating, normalizing, and commercializing large scale healthcare data assets, using sophisticated data management and data science capabilities[8] Quarterly Conference Call and Webcast Forian will host a conference call and webcast on August 13, 2025, at 4:30 p.m. ET to discuss financial results - Forian will host a conference call and webcast at 4:30 p.m. ET on August 13, 2025, to discuss its financial results with the investment community[7] - Registration for the conference call and a live webcast link are available, with additional information on the company's investor relations website[7] Cautionary Statements Regarding Forward-Looking Statements This release contains forward-looking statements subject to risks, cautioning investors against undue reliance and advising review of SEC filings - The release contains 'forward-looking statements' regarding expected future business and financial performance, including management's outlook for 2025, which are based on current estimates[9] - Forward-looking statements involve risks and uncertainties, many beyond the company's control, that could cause actual results to differ materially from those expressed[9] - Investors should not place undue reliance on these statements and are directed to review the 'Risk Factors' in Forian's Annual Report on Form 10-K for the year ended December 31, 2024, and other SEC filings[9] Condensed Consolidated Financial Statements This section presents Forian's unaudited condensed consolidated balance sheets, statements of operations, and cash flows for Q2 and YTD 2025 Condensed Consolidated Balance Sheets As of June 30, 2025, total assets increased to $48.46 million, driven by higher cash and accounts receivable, with stockholders' equity reaching $30.94 million Condensed Consolidated Balance Sheets (Unaudited) | ASSETS (Unaudited) | June 30, 2025 | December 31, 2024 | | :--------------------------------- | :-------------- | :---------------- | | Cash and cash equivalents | $5,369,817 | $4,590,661 | | Marketable securities | $30,279,208 | $30,492,088 | | Accounts receivable, net | $5,267,632 | $3,971,702 | | Total current assets | $46,541,103 | $44,460,091 | | Total assets | $48,462,637 | $47,169,843 | | Total current liabilities | $17,520,976 | $16,604,690 | | Total liabilities | $17,520,976 | $17,116,827 | | Total stockholders' equity | $30,941,661 | $30,053,016 | - Total assets increased by approximately $1.3 million from December 31, 2024, to June 30, 2025[12] - Cash and cash equivalents increased by $779,156, and accounts receivable, net, increased by $1,295,930 during the period[12] Condensed Consolidated Statements of Operations For Q2 2025, Forian reported a net income of $224,793, a significant improvement from a prior-year loss, driven by 56% revenue growth and reduced expenses Condensed Consolidated Statements of Operations (Unaudited) | Metric | Q2 2025 (3 Months) | Q2 2024 (3 Months) | YTD 2025 (6 Months) | YTD 2024 (6 Months) | | :--------------------------------- | :----------------- | :----------------- | :------------------ | :------------------ | | Revenue | $7,476,140 | $4,777,101 | $14,532,256 | $9,654,479 | | Total costs and expenses | $7,430,064 | $7,747,579 | $15,880,845 | $14,397,307 | | Operating income (loss) | $46,076 | $(2,970,478) | $(1,348,589) | $(4,742,828) | | Net income (loss) | $224,793 | $(2,553,259) | $(901,069) | $(3,765,874) | | Basic net income (loss) per common share | $0.01 | $(0.08) | $(0.03) | $(0.12) | - Revenue increased by 56% for the three months ended June 30, 2025, compared to the same period in 2024[14] - General and administrative expenses decreased from $3,229,757 in Q2 2024 to $1,971,959 in Q2 2025, and there were no litigation settlements in Q2 2025 compared to $942,311 in Q2 2024[14] Condensed Consolidated Statements of Cash Flows For YTD June 30, 2025, operating activities generated $103,649 in cash, a significant improvement from a prior-year usage, with cash and cash equivalents ending at $5,369,817 Condensed Consolidated Statements of Cash Flows (Unaudited) | Cash Flow Activity (6 Months Ended June 30) | 2025 | 2024 |