Forian(US:FORA)2025-11-14 21:05Financial Performance - Forian reported third quarter 2025 revenue of $7.76 million, a 66% increase from $4.69 million in the same period last year[3]. - The net loss for the quarter was $151,220, a 26% improvement compared to a net loss of $204,907 in the prior year[3]. - Adjusted EBITDA for the quarter was $470,645, representing a 153% increase from $185,916 in the prior year[3]. - Revenue for the three months ended September 30, 2025, was $7,762,183, representing a 65.5% increase compared to $4,686,312 for the same period in 2024[26]. - Net loss for the nine months ended September 30, 2025, was $(1,052,289), a significant improvement from $(3,970,781) in the same period of 2024, indicating a reduction of approximately 73%[26]. - Adjusted EBITDA for the three months ended September 30, 2025, was $470,645, compared to $185,916 for the same period in 2024, reflecting a growth of 153%[26]. Cash and Assets - Cash, cash equivalents, and marketable securities totaled $28.2 million as of September 30, 2025[4]. - Total current assets decreased from $44.46 million at December 31, 2024, to $39.37 million at September 30, 2025[11]. - Cash and cash equivalents at the end of the period were $4,660,622, up from $2,707,688 at the end of the same period in 2024[26]. Liabilities and Expenses - Total liabilities decreased from $17.12 million at December 31, 2024, to $10.17 million at September 30, 2025[11]. - Stock-based compensation expense for the nine months ended September 30, 2025, was $2,672,104, down from $4,873,593 in the same period of 2024, a decrease of approximately 45%[26]. - The company recorded a depreciation and amortization expense of $155,586 for the nine months ended September 30, 2025, compared to $23,405 in the same period of 2024, indicating a significant increase due to capital expenditures[26]. Cash Flow - Cash used in operating activities for the nine months ended September 30, 2025, was $(336,017), a notable improvement from $(1,467,084) in the same period of 2024[26]. - The company incurred $(6,840,000) in cash used to redeem convertible notes during the financing activities for the nine months ended September 30, 2025[26]. - The company experienced a net cash inflow from investing activities of $7,838,178 for the nine months ended September 30, 2025, contrasting with a cash outflow of $(730,177) in the same period of 2024[26]. Business Development - Forian expects full year 2025 revenue to be at the higher end of the previously reported range of $28 to $30 million[4]. - The company achieved significant growth in health economics and outcomes research, supported by new information integrations and expanded project scopes[4]. - Forian advanced partnerships with large health and pharma services companies to enhance real-world data coverage[4]. - New data-driven financial analytics offerings were introduced, securing key contracts for continued market penetration[4].