Forian Inc ( (FORA) ) has released its Q3 earnings. Here is a breakdown of the information Forian Inc presented to its investors.
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Forian Inc. is a prominent provider of data science-driven information and analytics solutions, serving the life sciences, healthcare, and financial services industries with a unique suite of data management capabilities.
In its third-quarter report for 2024, Forian Inc. revealed a steady revenue stream yet faced a decline in earnings compared to the previous year. The company highlighted its strategic acquisition of Kyber Data Science to bolster its service offerings and expand market reach.
The financial results for the third quarter of 2024 showed a revenue of $4.7 million, a decrease of 12% from the previous year, with a net loss from continuing operations amounting to $204,907. This represents a significant drop compared to a net income of $4.3 million in the third quarter of 2023. Adjusted EBITDA also fell sharply to $185,916 from $1,072,147, reflecting an 83% decline. The acquisition of Kyber Data Science aims to enhance Forian’s analytics capabilities and market positioning.
Despite the financial setbacks, Forian Inc. remains optimistic about its future trajectory. The company is confident that its strategic initiatives and the integration of Kyber Data Science will enable it to capture emerging opportunities and sustain long-term success for its stakeholders.