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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