$FORA

Forian Inc.

CIK:0001829280|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Revenue	$ 6,851,095	$ 7,056,116
Costs and Expenses:
Cost of revenues	4,844,102	3,131,622
Research and development	961,458	606,237
Sales and marketing	1,482,486	1,382,727
General and administrative	2,447,074	3,279,094
Depreciation and amortization	51,884	51,101
Strategic review and transaction related expenses	551,824	0
Total costs and expenses	10,338,828	8,450,781
Operating Loss	(3,487,733)	(1,394,665)
Other Income (Expense):
Interest and investment income	155,543	328,848
Interest expense	0	(52,678)
Total other income, net	155,543	276,170
Net loss before income taxes	(3,332,190)	(1,118,495)
Income tax expense	(29,920)	(7,367)
Net loss	$ (3,362,110)	$ (1,125,862)
Basic net loss per common share (in Dollars per share)	$ (0.11)	$ (0.04)
Diluted net loss per common share (in Dollars per share)	$ (0.11)	$ (0.04)
Weighted-average shares outstanding - basic (in Shares)	31,152,930	31,123,075
Weighted-average shares outstanding - diluted (in Shares)	31,152,930	31,123,075

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,362,110)	$ (1,125,862)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	51,884	51,101
Amortization on right of use asset	6,033	5,752
Amortization of debt issuance costs	0	1,333
Interest accrued on convertible notes	0	51,344
Accretion of discounts on marketable securities	(26,771)	(307,799)
Provision for credit losses	10,527	150,000
Stock-based compensation expense	548,650	1,292,786
Change in operating assets and liabilities:
Accounts receivable	2,624,149	(1,400,838)
Contract assets	1,548,776	(72,687)
Prepaid expenses	(40,044)	(74,889)
Lease liabilities	(6,033)	(5,752)
Deposits and other assets	516,179	495,006
Accounts payable	(40,664)	1,287,066
Accrued expenses	(1,745,914)	(531,512)
Deferred revenues	(632,648)	1,133,131
Other liabilities	0	(500,000)
Net cash (used in) provided by operating activities	(547,986)	448,180
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of marketable securities	0	(29,707,875)
Sale and maturity of marketable securities	18,674,000	30,546,000
Net cash provided by investing activities	18,674,000	838,125
CASH FLOWS FROM FINANCING ACTIVITIES:
Tax payments related to shares withheld for vested restricted stock units	(78,587)	(172,295)
Net cash used in financing activities	(78,587)	(172,295)
Net change in cash and cash equivalents	18,047,427	1,114,010
Cash and cash equivalents, beginning of period	12,903,760	4,590,661
Cash and cash equivalents, end of period	30,951,187	5,704,671
Supplemental disclosure of cash flow information:
Cash paid for taxes	39,094	114,828
Cash paid for interest	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 30,951,187	$ 12,903,760
Marketable securities	0	18,647,229
Accounts receivable, net	3,018,951	5,643,100
Contract assets, net	879,920	2,439,223
Prepaid expenses	1,030,954	990,910
Other current assets	1,524,755	1,932,535
Total current assets	37,405,767	42,556,757
Property and equipment, net	25,641	29,428
Intangible assets, net	953,449	1,001,546
Right of use assets, net	6,104	12,137
Deposits and other assets	422,628	531,027
Total assets	38,813,589	44,130,895
Current liabilities:
Accounts payable	3,792,858	3,833,522
Accrued expenses and other current liabilities	3,509,381	5,255,295
Short-term operating lease liabilities	6,104	12,137
Deferred revenues	4,618,545	5,251,193
Total current liabilities	11,926,888	14,352,147
Total liabilities	11,926,888	14,352,147
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred Stock; par value $0.001; 5,000,000 Shares authorized; 0 issued and outstanding as of March 31, 2026 and December 31, 2025	0	0
Common Stock; par value $0.001; 95,000,000 Shares authorized; 31,240,881 issued and outstanding as of March 31, 2026 and 31,072,251 issued and outstanding as of December 31, 2025	31,241	31,073
Additional paid-in capital	83,006,722	82,536,827
Accumulated deficit	(56,151,262)	(52,789,152)
Total stockholders' equity	26,886,701	29,778,748
Total liabilities and stockholders' equity	$ 38,813,589	$ 44,130,895