Forian Q3 revenue down 12%, net loss of $0.2M; redeems $16M in convertible notes

Forian Inc.

2024-Q3 EPS reported -$0.13 revenue$14,340,791

Revenue of $4.69M, down 12% YoY from $5.35M; net loss of $0.2M vs prior-year income of $4.3M.
Adjusted EBITDA fell to $0.19M from $1.07M; diluted EPS of ($0.01) vs $0.13.
Redeemed $16M aggregate principal of 3.5% convertible notes due 2025 plus $1.79M accrued interest.
Remaining $6M in notes held by Pamela Wygod, spouse of deceased director Martin J. Wygod.
Acquired Kyber Data Science on Oct 31, 2024 for undisclosed terms; cash & securities at $49.4M.

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