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Forian Inc. (FORA) 10-Year Financial Performance & Capital Metrics

FORA • • Industrial / General
HealthcareHealthcare ITHealthcare Data Analytics & AIHealthcare Business Intelligence
AboutForian Inc. provides software solutions, proprietary data driven insights, and predictive analytics to optimize the operational, clinical, and financial performance of its healthcare, cannabis, and government customers. It operates through three segments: Information & Software, Services, and Other. The company's products include BioTrack, a vertically integrated point of sale, manufacturing, delivery, and cultivator software solution for dispensaries, cultivators, manufacturers, and distributors; and Cannalytics, a Software as a Service based analytics solution that provides clients with a presentation of business performance. Its products also comprise BioTrack seed-to-sale compliance traceability platform, which is used to manage the tracking and tracing of various cannabis products from cultivation to sale; BioTrack State Traceability & Enforcement Monitoring System to ensure transparency and accountability throughout cannabis supply chain; and STEMS, a seed-to-sale tracking module, to provide cannabis program management solution to cannabis regulatory agencies. In addition, the company offers security monitoring and web marketing services. The company is headquartered in Newtown, Pennsylvania.Show more
  • Revenue $20M -1.6%
  • EBITDA -$7M -25.5%
  • Net Income -$4M -134.0%
  • EPS (Diluted) -0.12 -133.3%
  • Gross Margin 63.61% -13.2%
  • EBITDA Margin -34.25% -27.6%
  • Operating Margin -34.67% -26.9%
  • Net Margin -18.71% -134.5%
  • ROE -13.05% -123.6%
  • ROIC -13.64% -29.7%
  • Debt/Equity 0.22 -73.0%
  • Interest Coverage -9.86 -47.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Share count reduced 3.6% through buybacks

✗Weaknesses

  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y6.09%
TTM42.6%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM66.98%

EPS CAGR

10Y-
5Y-
3Y-
TTM67.65%

ROCE

10Y Avg-50.52%
5Y Avg-50.52%
3Y Avg-23.92%
Latest-16.51%

Peer Comparison

Healthcare Business Intelligence
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
NRCNational Research Corporation482.6M21.3020.48-3.72%11.76%114.31%3.97%2.06
WORXSCWorx Corp.2.91M0.18-0.24-21.43%-139.71%-64.87%0.01
DHDefinitive Healthcare Corp.251.03M2.43-0.690.31%-77.88%-48.42%18.27%0.42
HCATHealth Catalyst, Inc.165.51M2.34-2.033.6%-34.05%-32.42%1.10
ZCMDZhongchao Inc.12.21M0.47-3.95-18.37%-26.94%-34.62%0.00
EVHEvolent Health, Inc.439.71M3.94-4.8630.09%-6.24%-15.22%0.71
FORAForian Inc.66.18M2.13-17.75-1.6%-3.03%-2.74%0.43%0.22

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+0544.87K16.88M16.42M20.48M20.15M
Revenue Growth %--29.98%-0.03%0.25%-0.02%
Cost of Goods Sold+85438.29K4.72M5.05M5.48M7.33M
COGS % of Revenue-0.07%0.28%0.31%0.27%0.36%
Gross Profit+-854506.58K12.16M11.37M15M12.82M
Gross Margin %-0.93%0.72%0.69%0.73%0.64%
Gross Profit Growth %-594.18%23.01%-0.07%0.32%-0.15%
Operating Expenses+1.29M5.49M39.78M30.32M20.6M19.81M
OpEx % of Revenue-10.08%2.36%1.85%1.01%0.98%
Selling, General & Admin463.84K2.11M27.61M20.83M18.52M16.87M
SG&A % of Revenue-3.87%1.64%1.27%0.9%0.84%
Research & Development827.47K2.51M8.98M4.01M1.41M1.44M
R&D % of Revenue-4.61%0.53%0.24%0.07%0.07%
Other Operating Expenses0871.96K3.2M5.48M674.27K1.49M
Operating Income+-1.29M-4.98M-27.62M-18.95M-5.6M-6.99M
Operating Margin %--9.15%-1.64%-1.15%-0.27%-0.35%
Operating Income Growth %--2.86%-4.54%0.31%0.7%-0.25%
EBITDA+-1.29M-4.98M-25.41M-18.89M-5.5M-6.9M
EBITDA Margin %--9.13%-1.51%-1.15%-0.27%-0.34%
EBITDA Growth %--2.85%-4.11%0.26%0.71%-0.26%
D&A (Non-Cash Add-back)8548.55K2.21M67.18K96.33K85.37K
EBIT-1.29M-4.98M-26.21M-18.32M2.65M-3M
Net Interest Income+5K3.57K-315.57K-579.89K1.49M1.71M
Interest Income5K3.57K6.81K266.21K2.33M2.42M
Interest Expense00322.38K846.1K834.78K708.93K
Other Income/Expense3.33K3.57K1.09M-215.2K7.41M3.28M
Pretax Income+-1.29M-4.98M-26.53M-19.17M1.82M-3.7M
Pretax Margin %--9.14%-1.57%-1.17%0.09%-0.18%
Income Tax+0022.51K23.98K85.74K66.58K
Effective Tax Rate %1%1%1%1.35%6.11%1.02%
Net Income+-1.29M-4.98M-26.55M-25.97M11.11M-3.77M
Net Margin %--9.14%-1.57%-1.58%0.54%-0.19%
Net Income Growth %--2.86%-4.33%0.02%1.43%-1.34%
Net Income (Continuing)-1.29M-4.98M-26.55M-19.19M1.73M-3.77M
Discontinued Operations000-6.78M9.37M0
Minority Interest000000
EPS (Diluted)+-0.04-0.17-0.84-0.810.36-0.12
EPS Growth %--2.94%-3.94%0.04%1.44%-1.33%
EPS (Basic)-0.04-0.17-0.84-0.810.36-0.12
Diluted Shares Outstanding29.82M29.82M31.77M32.03M32.23M31.07M
Basic Shares Outstanding29.82M29.82M31.77M32.03M32.03M31.07M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+175.63K12.51M35.99M26.92M58.42M44.46M
Cash & Short-Term Investments150.26K12.17M31.06M20.19M48.34M35.08M
Cash Only494665.46K18.66M2.8M6.04M4.59M
Short-Term Investments149.77K11.5M12.4M17.4M42.3M30.49M
Accounts Receivable0219.7K3M4.06M9M6.56M
Days Sales Outstanding-147.1764.9790.3160.33118.78
Inventory001.02M000
Days Inventory Outstanding--78.76---
Other Current Assets00900.24K1.83M6.93K1.71M
Total Non-Current Assets+3.42K46.36K20.86M19.34M2.48M2.71M
Property, Plant & Equipment3.42K46.36K2.39M107.59K86.75K82.21K
Fixed Asset Turnover-11.75x7.06x152.60x236.10x245.14x
Goodwill009.1M9.1M00
Intangible Assets009.05M6.78M1.39M1.19M
Long-Term Investments000000
Other Non-Current Assets00314.44K3.36M515.61K1.44M
Total Assets+179.04K12.55M56.84M46.26M60.9M47.17M
Asset Turnover-0.04x0.30x0.35x0.34x0.43x
Asset Growth %-69.12%3.53%-0.19%0.32%-0.23%
Total Current Liabilities+460.08K1.29M6.8M8.35M6.82M16.6M
Accounts Payable6.4K647.6K1.13M316.11K161.59K982.66K
Days Payables Outstanding2.74K6.17K87.0522.8510.7748.9
Short-Term Debt184.3K013.12K010.66K6.7M
Deferred Revenue (Current)0158.88K976.27K1000K1000K1000K
Other Current Liabilities0346.72K2.39M3.74M2.71M1.57M
Current Ratio0.38x9.72x5.29x3.22x8.56x2.68x
Quick Ratio0.38x9.72x5.14x3.22x8.56x2.68x
Cash Conversion Cycle--56.68---
Total Non-Current Liabilities+0024.87M25.48M26.36M728.07K
Long-Term Debt0024.26M25.11M22.99M0
Capital Lease Obligations00611.52K376.57K00
Deferred Tax Liabilities0000487.56K215.93K
Other Non-Current Liabilities00002.88M512.14K
Total Liabilities460.08K1.29M31.67M33.84M33.18M17.12M
Total Debt+184.3K025.13M25.5M23M6.72M
Net Debt183.81K-665.46K6.47M22.71M16.96M2.13M
Debt / Equity--1.00x2.05x0.83x0.22x
Debt / EBITDA------
Net Debt / EBITDA------
Interest Coverage---85.67x-22.40x-6.70x-9.86x
Total Equity+-281.03K11.27M25.17M12.42M27.72M30.05M
Equity Growth %-41.09%1.23%-0.51%1.23%0.08%
Book Value per Share-0.010.380.790.390.860.97
Total Shareholders' Equity-281.03K11.27M25.17M12.42M27.72M30.05M
Common Stock7.71K21.23K31.77K32.25K30.92K31.01K
Retained Earnings-1.29M-6.27M-32.82M-58.79M-46.14M-49.92M
Treasury Stock000000
Accumulated OCI000000
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-1.03M-4.25M-17.25M-8.58M728.82K282.83K
Operating CF Margin %--7.8%-1.02%-0.52%0.04%0.01%
Operating CF Growth %--3.12%-3.06%0.5%1.08%-0.61%
Net Income-1.29M-4.98M-26.55M-19.19M1.73M-3.77M
Depreciation & Amortization8548.55K2.21M67.18K96.33K85.37K
Stock-Based Compensation028.33K9.3M11.92M6.57M6.53M
Deferred Taxes000000
Other Non-Cash Items7.81K-3.57K-9.88K-2.29M-7.41M-2.98M
Working Capital Changes247.81K696.14K-2.2M917.25K-264.26K417.24K
Change in Receivables0-219.7K-2.5M-1.97M362.34K-792.62K
Change in Inventory000000
Change in Payables6.4K641.2K-204.41K-131.37K-154.52K821.08K
Cash from Investing+-151.43K-11.4M-1.03M-6.46M7.12M17.29M
Capital Expenditures-1.67K-51.49K-1.44M-47.68K-75.49K0
CapEx % of Revenue-0.09%0.09%0%0%0%
Acquisitions------
Investments------
Other Investing000-1.66M24.41M1.67M
Cash from Financing+1.18M16.32M36.28M-100.53K-4.6M-19.02M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing00341.4K-87.41K-191.47K-132.59K
Net Change in Cash------
Free Cash Flow+-1.03M-4.3M-18.69M-8.63M653.33K282.83K
FCF Margin %--7.9%-1.11%-0.53%0.03%0.01%
FCF Growth %--3.16%-3.34%0.54%1.08%-0.57%
FCF per Share-0.03-0.14-0.59-0.270.020.01
FCF Conversion (FCF/Net Income)0.80x0.85x0.65x0.33x0.07x-0.07x
Interest Paid00724000
Taxes Paid00018.44K4.07M0

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)--90.66%-145.73%-138.17%55.33%-13.05%
Return on Invested Capital (ROIC)--71.17%-98.07%-42.58%-10.52%-13.64%
Gross Margin-92.97%72.05%69.24%73.26%63.61%
Net Margin--914.01%-157.3%-158.19%54.23%-18.71%
Debt / Equity--1.00x2.05x0.83x0.22x
Interest Coverage---85.67x-22.40x-6.70x-9.86x
FCF Conversion0.80x0.85x0.65x0.33x0.07x-0.07x
Revenue Growth--2997.93%-2.73%24.75%-1.6%

Revenue by Segment

20212022
Information and Software14.95M26.19M
Information and Software Growth-75.13%
Service1.12M1.55M
Service Growth-37.69%
Product and Service, Other804.94K274.26K
Product and Service, Other Growth--65.93%

Revenue by Geography

20212022
Services1.12M1.55M
Services Growth-37.69%

Frequently Asked Questions

Growth & Financials

Forian Inc. (FORA) reported $28.1M in revenue for fiscal year 2024.

Forian Inc. (FORA) saw revenue decline by 1.6% over the past year.

Forian Inc. (FORA) reported a net loss of $0.9M for fiscal year 2024.

Dividend & Returns

Forian Inc. (FORA) has a return on equity (ROE) of -13.1%. Negative ROE indicates the company is unprofitable.

Forian Inc. (FORA) generated $1.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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