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Forian (FORA) investor relations material
Forian Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue rose 56–57% year-over-year to $7.5M, driven by the Kyber Data Science acquisition and organic growth in information products and services.
Net income for Q2 2025 was $224K–$225K, reversing a net loss of $2.5M–$2.6M in Q2 2024.
Adjusted EBITDA for Q2 2025 was $591K–$600K, up from $78K–$100K in the prior year, reflecting improved operational efficiency.
The Kyber acquisition was completed in October 2024, significantly contributing to revenue and product expansion.
Expanded data capabilities and product innovation supported both healthcare and financial services clients.
Financial highlights
Q2 2025 revenue: $7.5M (up from $4.8M in Q2 2024); six-month revenue: $14.5M (up from $9.7M year-over-year).
Net income for the six months ended June 30, 2025 was a loss of $901K, improved from a $3.8M loss in the prior year.
Adjusted EBITDA for the six months ended June 30, 2025 was $540K, up from $183K in the prior year.
Operating income for Q2 2025 was $46K–$50K, compared to a $3.0M loss in Q2 2024.
Adjusted EBITDA margin for Q2 2025 was 7.9%, up from 1.6% in Q2 2024.
Outlook and guidance
Full-year 2025 revenue expected between $28M and $30M, representing 39%–49% growth over 2024.
Adjusted EBITDA guidance for 2025 is ($1.0M) to $1.0M.
Confidence in meeting guidance is tied to successful contract renewals and strategic investments.
Management expects to fund operations and acquisitions through cash flow, available cash, securities, debt, and/or equity.
The company is monitoring vendor changes and plans to license data from additional vendors to mitigate supply risks.
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