Forian (FORA) Q4 2025 earnings summary

Executive summary

• Revenue grew 37% year-over-year in Q4 2025 and 50% for the full year, reaching $30.3 million.

• Net loss narrowed to $2.9 million for 2025, a 24% improvement from the prior year.

• Adjusted EBITDA improved to $0.8 million for the year, up 72% year-over-year.

• Cash, cash equivalents, and marketable securities totaled $31.6 million at year-end.

Financial highlights

• Q4 2025 revenue was $8.0 million, up from $5.8 million in Q4 2024.

• Q4 2025 net loss was $1.8 million, compared to net income of $0.2 million in Q4 2024.

• Full-year net loss per share improved to $(0.09) from $(0.12) year-over-year.

• Adjusted EBITDA for Q4 2025 was $(0.2) million, down from $0.1 million in Q4 2024.

Outlook and guidance

• Achieved revenue and Adjusted EBITDA guidance targets for 2025.

• Continued investment in data platform and product development while maintaining cost discipline.