Forian Q2 revenue down 2% YoY, net loss widens to $2.6M; updates FY guidance

Forian Inc.

2024-Q2 EPS reported -$0.12 revenue$9,654,479

Revenue $4.78M vs $4.89M YoY (-2%); net loss $2.55M ($0.08 diluted loss) vs $1.12M ($0.03 loss).
Adjusted EBITDA $78K vs $417K YoY, still positive but sharply lower.
Cash and securities $48.0M at June 30, 2024.
FY2024 outlook: revenue $19-20M, adjusted EBITDA -$0.5M to $0.5M.
Expanding Chronos data lake to offset expected 2025 loss of certain data from one supplier.

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