Forian Q1 revenue up 38% to $4.9M; continuing ops loss narrows to $2.2M

Forian Inc.

2023-Q1 EPS reported $0.19 revenue$4,870,387

Revenue $4.87M, +38% YoY; continuing ops net loss $2.25M vs $10.3M loss in prior year.
Adjusted EBITDA from continuing ops improved to -$0.27M from -$2.7M YoY.
Discontinued ops contributed $8.7M net income from February 2023 sale of BioTrack cannabis business.
Cash, cash equivalents and marketable securities totaled $40M at March 31, 2023.
Company transitions to pure-play healthcare information provider after divesting cannabis software.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Forian Inc. reported quarter ended March 31, 2023 results: revenue $4,870,387, net income $6,498,479, EPS $0.19.

Period: quarter ended March 31, 2023
Revenue: $4,870,387
Net income: $6,498,479
EPS: $0.19
Result: reported results

Exact text from the filing

● Forian delivered the following results for the first quarter of 2023: Three Months Ended March 31, Period- over- Period % Change 2023 Unaudited 2022 Unaudited Total revenue $ 4,870,387 $ 3,534,861 38% Loss from continuing operations, net of tax $ (2,248,799 ) $ (10,317,700 ) 78% Income (loss) from discontinued operations, net of tax $ 8,747,278 $ (1,536,388 )

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Source: SEC EDGAR

accession 0001140361-23-024388

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