The following is a summary of the Forian Inc. (FORA) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Forian earned a revenue of $20.5 million for the full-year 2023, a 25% growth YoY, primarily driven by their healthcare information offerings.

• They reported a net income from continuing operations of $1.7 million and adjusted EBITDA of $2.3 million, showing a significant turnaround from the losses seen previously.

• Despite a Q4 net loss from continuing operations of $0.4 million, adjusted EBITDA for the same quarter was $1.0 million, which is an improvement from prior year.

• The company anticipates a YoY revenue growth of 5-15% for 2024 along with adjusted EBITDA margins lying between 8-12%.

Business Progress:

• The successful divestiture of its subsidiary, BioTrack, enabled Forian to collect $30 million in cash.

• Strategic investments in data assets and expansion of the sales team were key advances in 2023.

• The company saw new client acquisitions across healthcare and life sciences sectors throughout the year.

• Expectations for 2024 include increased revenue stemming from the expanded life science sales team and the launch of new products aimed at both existing and new markets.

• Forian is exploring corporate development avenues, including the possibility of share buybacks, to further enhance shareholder value.

More details: Forian IR

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