Forian Q4 revenue up 37% YoY to $7.9M; divests BioTrack for $30M; guides FY2023 rev $20.5-22.5M

Forian Inc.

Q4 2022 revenue $7.9M (+37% YoY); net loss $3.6M vs $8.0M; adj. EBITDA -$0.9M vs -$4.5M.
Full year 2022 revenue $28.0M (+66% YoY); net loss $26.0M vs $26.6M; healthcare info rev grew 130% to $16.4M.
In February 2023, completed sale of BioTrack for $30M cash, strengthening balance sheet.
FY2023 guidance: healthcare info rev growth 25-37%, total rev $20.5-22.5M; positive adj. EBITDA expected in H2 2023.
Cash, equivalents and marketable securities at Dec 31, 2022 were $20.7M, boosted by BioTrack proceeds post-period.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Forian Inc. reported the three months ended December 31, 2022 results: revenue $ 7,903,992, net income $ (3,556,714 ), EPS $ (0.11 ).

Period: the three months ended December 31, 2022
Revenue: $ 7,903,992
Net income: $ (3,556,714 )
EPS: $ (0.11 )
Result: reported results

Exact text from the filing

Forian delivered the following results for the fourth quarter of 2022: Three Months Ended December 31, Period-over- 2022 2021 Period Unaudited Unaudited % Change Total revenues $ 7,903,992 $ 5,749,366 37% Net loss $ (3,556,714 ) $ (8,048,790 ) 56% Basic and diluted net loss per common share $ (0.11 ) $ (0.22 ) 51%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Forian Inc. reported the twelve months ended December 31, 2022 results: revenue $ 28,005,857, net income $ (25,971,971 ), EPS $ (0.81 ).

Period: the twelve months ended December 31, 2022
Revenue: $ 28,005,857
Net income: $ (25,971,971 )
EPS: $ (0.81 )
Result: reported results

Exact text from the filing

Forian delivered the following results for the full year of 2022: Twelve Months Ended December 31, Period-over- 2022 2021 Period Unaudited Unaudited % Change Total revenues $ 28,005,857 $ 16,879,715 66% Net loss $ (25,971,971 ) $ (26,551,105 ) 2% Basic and diluted net loss per common share $ (0.81 ) $ (0.90 ) 10%

View on SEC.gov

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Forian Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-014013

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