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Forian Inc (Nasdaq: FORA) delivers SaaS-powered data solutions for healthcare, life sciences, and emerging markets. This news hub provides investors and professionals with essential updates on operational developments, financial performance, and strategic initiatives.
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Forian Inc. (NASDAQ: FORA) reported FY21 revenue of $16.9 million, achieving the high end of their forecast, marking a significant increase over FY20. The company experienced a net loss of $26.6 million for the year, with an adjusted EBITDA loss of $15.1 million. Fourth-quarter revenue reached $5.7 million, up 80% year-over-year, but net loss widened to $8.0 million.
For FY22, Forian anticipates revenue growth of 51% to 60%, projecting total revenue between $25.5 to $27 million.
Forian Inc. (Nasdaq:FORA) has been invited to participate in the 34th Annual Roth Conference set for March 13-15, 2022, at The Ritz Carlton, Laguna Niguel, California.
Max Wygod, Executive Chairman, will present on the New Issue Track on March 15 at 1:30 p.m. PT and engage in one-on-one meetings. Presentation materials will be accessible on their website post-conference. Forian provides SaaS solutions and analytics for healthcare and cannabis sectors, enhancing operational and financial performance.
Forian Inc. (Nasdaq:FORA) will announce its financial results for Q4 and year-end 2021 on March 24, 2022, post-market close. A conference call and webcast will follow at 4:30 p.m. ET. Highlights for 2021 include strong organic revenue growth from new clients in healthcare, market leadership in Seed-to-Sale and Track and Trace technologies following a merger with Helix Technologies, and several government contract wins. The company emphasizes ongoing investments in innovative products for the healthcare and cannabis sectors.
Forian Inc. (NASDAQ: FORA) has been selected by the Florida Department of Health as the provider for the state’s cannabis traceability system through BioTrack. This unanimous decision aims to enhance transparency in the medical-use cannabis market by tracking the products from seed to sale, thereby preventing diversion and ensuring compliance. BioTrack's software is already in use across 38 states and 10 countries, with Florida joining 10 other states leveraging their solutions. The initiative supports real-time inventory monitoring and recalls of unsafe products.
Forian Inc. (NASDAQ: FORA) reported a third quarter revenue of approximately $5.0 million, reflecting an impressive year-over-year increase of $4.8 million, or 3010%. Pro forma revenue grew by 62% compared to the prior year. However, the company incurred a net loss of approximately $6.9 million or $0.22 per share, worsening from the previous year's loss of $1.2 million. CEO Dan Barton confirmed the revenue guidance for Q4 is expected to be between $5.4 million to $5.7 million.
Forian Inc. (Nasdaq:FORA) will announce its financial results for Q3 2021 on November 11, 2021, after market close. The company, a provider of data and analytics-enabled services for healthcare and cannabis sectors, will host a conference call at 4:30 p.m. ET the same day to discuss its results. Interested parties can join the call by dialing (855) 940-5323 for the US or (929) 517-0423 for international calls, using Conference ID 2915339. Additional information is available on the investor relations section of their website.
Forian Inc. (NASDAQ: FORA) announced a $24 million convertible notes offering with a 3.5% interest rate, due in 2025. The notes are convertible at $11.98, with 20% warrants included. Michael Vesey has been appointed the new Chief Financial Officer, succeeding Clifford Farren, who will assist during the transition. The funds will be used for data acquisition, working capital, and potential investments in complementary technologies. The offering is unregistered under the Securities Act, emphasizing that it won't be available for public sale without proper registration.
On August 24, 2021, Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced a collaboration with Forian Inc. (NASDAQ: FORA) to enhance personalized psychiatry for treating anxiety disorders through real-world evidence (RWE) data. This partnership aims to leverage real-world healthcare data to develop precise treatments by understanding individual physiological and environmental factors. MindMed focuses on psychedelic-inspired therapies, with a drug pipeline targeting mental illness and addiction. The initiative underscores the need for tailored mental health solutions amidst the ongoing impacts of the global pandemic.
Forian Inc. (NASDAQ: FORA) reported substantial growth for Q2 2021, with total revenues reaching $4.55 million, a remarkable 4082% increase year-over-year. The company anticipates revenue for the second half of 2021 between $10.4 million and $10.7 million, representing a 69% to 74% increase over the first half. However, net losses surged to $7.13 million, resulting in a net loss per share of $0.23. Operational highlights include the introduction of a next-generation analytics platform and growing cannabis service offerings to state governments.
Forian Inc. (Nasdaq:FORA) will announce its financial results for Q2 2021 on August 12, 2021, after market close. A conference call will take place at 4:30 p.m. (ET) on the same day to discuss the results. Investors can join the call by dialing (833) 942-2345 for the US or (270) 215-9807 for international calls, using Conference ID 8092029. The earnings release and a replay of the call will be available on their website.
Forian provides SaaS solutions and data analytics for the healthcare and cannabis sectors.
