Forian Inc. Announces Third Quarter 2024 Financial Results

Core Insights - Forian Inc. reported steady revenue for Q3 2024, with a focus on long-term value creation and strategic vision enhancement through the acquisition of Kyber Data Science [2][4]. 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 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 Q3 2023 [3]. - Cash, cash equivalents, and marketable securities totaled $49.4 million as of September 30, 2024 [3]. Strategic Developments - The acquisition of Kyber Data Science on October 31, 2024, is expected to enhance Forian's analytics offerings and expand its market reach [4]. - The company redeemed 3.5% convertible notes and outstanding equity totaling over $15 million in October and November 2024 [4]. Conference Call - Forian will host a conference call and webcast on November 13, 2024, to discuss its financial results with the investment community [5]. Company Overview - Forian provides data management and analytics solutions to the life sciences, healthcare, and financial services industries, leveraging large-scale healthcare data assets [6].