Forian Q4 revenue $5.4M, net income $1.39M; FY 2024 guidance 5-15% revenue growth

Forian Inc.

Q4 2023 revenue $5.37M (+8% YoY); net income $1.39M vs loss $3.56M prior year.
FY 2023 revenue $20.48M (+25% YoY); net income from continuing ops $1.73M vs loss $19.19M.
FY 2023 Adjusted EBITDA $2.34M vs -$6.71M; Q4 Adj EBITDA $1.03M vs -$0.43M.
FY 2024 outlook: revenue growth 5-15%, Adjusted EBITDA margin 8-12%.
Repurchased 1.6M shares at $2.15/share and $2M of convertible notes in private transactions.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Forian Inc. reported Three Months Ended December 31, 2023 results: revenue $5,368,932, net income $1,388,943, EPS $0.04.

Period: Three Months Ended December 31, 2023
Revenue: $5,368,932
Net income: $1,388,943
EPS: $0.04
Result: reported results

Exact text from the filing

Fourth Quarter 2023 Financial Results Forian delivered the following results for the fourth quarter of 2023: Three Months Ended December 31, 2023 Unaudited 2022 Unaudited Period-over- Period % Change Revenue $ 5,368,932 $ 4,969,673 8% Loss from continuing operations, net of tax $ (381,014 ) $ (1,900,105 ) 80% Income (loss) from discontinued operations, net of tax $ 1,769,957 $ (1,656,609 ) 207% Net Income (loss) $ 1,388,943 $ (3,556,714 ) 139% Loss from continuing operations, net of tax per share - diluted $ (0.01 ) $ (0.06 ) 83% Income (loss) from discontinued operations, net of tax per share - diluted $ 0.05 $ (0.05 ) 200% Income (loss) per share - diluted $ 0.04 $ (0.11 ) 136% Adjusted EBITDA (a non-GAAP financial measure defined below) $ 1,033,648 $ (425,434 ) 343%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Forian Inc. updated its Year ending December 31, 2024 guidance (initiated).

Period: Year ending December 31, 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

Full Year 2024 Outlook Based on information as of March 28, 2024, the Company is sharing the following outlook for the year ending December 31, 2024: ● Revenue growth is expected to be in the range of 5% to 15% ● Adjusted EBITDA 1 margin is expected to be in the range of 8% to 12%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Forian Inc. reported Twelve Months Ended December 31, 2023 results: revenue $20,481,330, net income $11,106,687, EPS $0.34.

Period: Twelve Months Ended December 31, 2023
Revenue: $20,481,330
Net income: $11,106,687
EPS: $0.34
Result: reported results

Exact text from the filing

Full Year 2023 Financial Results Forian delivered the following results for the full year 2023: Twelve Months Ended December 31, 2023 Unaudited 2022 Unaudited Period-over- Period % Change Revenue $ 20,481,330 $ 16,418,141 25% Income (loss) from continuing operations, net of tax $ 1,733,430 $ (19,191,990 ) 109% Income (loss) from discontinued operations, net of tax $ 9,373,257 $ (6,779,981 ) 238% Net Income (loss) $ 11,106,687 $ (25,971,971 ) 143% Income (loss) from continuing operations, net of tax per share - diluted $ 0.05 $ (0.60 ) 108% Income (loss) from discontinued operations, net of tax per share - diluted $ 0.29 $ (0.21 ) 238% Income (loss) per share - diluted $ 0.34 $ (0.81 ) 142% Adjusted EBITDA (a non-GAAP financial measure defined below) $ 2,336,380 $ (6,707,809 ) 135%

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1362 earnings releases filed in the last 30 days. Browse all earnings releases →

Forian Inc. filing history →

Source: SEC EDGAR

accession 0001140361-24-016154

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