What factors drove the changes in Forian's revenue and profit?

What guidance did Forian's management provide for the next earnings period?

What were the key takeaways from Forian’s earnings call?

What were the key takeaways from Forian's earnings call?

What is the market's earnings forecast for Forian next quarter?

What does Forian do and what are its main business segments?

What is the revenue and EPS growth rate for Forian year over year?

Did Forian beat or miss consensus estimates last quarter?

- **Revenue Surge**: Q3 2025 revenue jumped 66% YoY to $7.76 million, fueled by Kyber's financial market insights and health economics projects.
- **Profitability Boost**: Adjusted EBITDA rose 150% YoY to $471,000, driven by cost control and operational efficiency.
- **Strategic Win**: Kyber's forecasting models for biopharma companies outperformed consensus estimates by 30%, generating alpha for hedge funds.
- **Balance Sheet Strength**: $28.2 million cash and marketable securities supported debt repayment and working capital.
- **Growth Outlook**: Full-year 2025 revenue expected at $28-30 million, with adjusted EBITDA projected to turn positive by year-end.
- **Client Momentum**: Health service organizations and financial institutions are adopting Forian's data assets for predictive modeling, with 43% of revenue growth tied to Kyber's financial market insights.


**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached $7.76 million, up 66% year-over-year, driven by contributions from the Kyber Data Science acquisition and expansion in health economics and outcomes research projects.
- **Strategic Investments**: Focus on integrating advanced analytics with Forian's proprietary data sets, such as Kyber's forecasting models for biopharmaceutical companies (e.g., argenx, Alnylam, BridgeBio) demonstrated 30%+ accuracy relative to consensus estimates, generating alpha for hedge fund clients.
- **Operational Highlights**: Adjusted EBITDA improved to $471,000 (Q3 2025) from $186,000 (Q3 2024), reflecting cost control and operational leverage.
- **Forward Outlook**: Full-year 2025 revenue expected at the high end of the previously communicated range ($28-30 million), with adjusted EBITDA projected to be negative $1 million to positive $1 million.

**【CFO Financial Commentary】**
- **Revenue Breakdown**: $7.8 million total revenue (Q3 2025), with $2 million contributed by Kyber and $1.1 million from organic growth in Life Sciences data.
- **Profitability Metrics**: Operating loss decreased to $0.5 million (Q3 2025) from $0.8 million (Q3 2024), driven by higher revenues and lower stock compensation expenses.
- **Balance Sheet Strength**: $28.2 million in cash and marketable securities, supporting debt repayment ($6.8 million for convertible notes) and working capital ($29.2 million).
- **Cost Management**: Data costs increased due to Kyber integration, but adjusted EBITDA margin improved 150% year-over-year, reflecting operational efficiency gains.

**【Q&A Highlights】**
- **Client Demand Trends**: Health service organizations and financial institutions are increasingly leveraging Forian's data assets for predictive modeling and benchmarking, with hedge fund clients achieving alpha through Kyber's forecasting accuracy.
- **Data Integration Capabilities**: The 'data factory' infrastructure normalizes and enriches claims, EMR, and laboratory data, enabling real-world evidence generation for regulators and payers.
- **Growth Drivers**: Expansion in health economics research projects and Kyber's financial market insights are key growth engines, with 43% of revenue growth attributed to Kyber's contribution.
- **Risk Management**: No material risks to forward-looking statements were highlighted, with management emphasizing disciplined investment in scalable data products and cost control.


Forian Inc.(FORA)-20251115-2025 Q3 Earnings call transcript

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