Forian Inc. Reports 56.5% Revenue Growth and Net Income Turnaround in Q2 2025

Forian Inc. reported significant financial improvements in its latest quarterly results, with revenues for the three months ended June 30, 2025, reaching $7.5 million, a 56.5% increase from $4.8 million in the same period last year. For the first half of 2025, revenues totaled $14.5 million, up 50.5% from $9.7 million in the first half of 2024. The company attributed this growth primarily to the acquisition of Kyber Data Science, which contributed approximately $1.9 million in revenue during the second quarter and $3.6 million in the first half of the year.

Despite the revenue growth, Forian's cost of revenues also increased significantly, rising to $3.2 million for the second quarter and $6.4 million for the first half, compared to $1.8 million and $3.5 million, respectively, in the prior year. This increase was driven by higher information licensing and processing expenses, as well as costs associated with the Kyber acquisition. Consequently, the gross profit margin decreased to 57% for the second quarter and 56% for the first half, down from 62% and 64% in the previous year.

The company reported a net income of $224,793 for the second quarter, a notable turnaround from a net loss of $2.6 million in the same quarter of 2024. For the first half of 2025, however, Forian recorded a net loss of $901,069, an improvement from a loss of $3.8 million in the prior year. The reduction in losses was attributed to increased revenues and a decrease in litigation settlements and related expenses, which were zero in the latest quarter compared to $942,311 in the same period last year.

Operationally, Forian's customer base remains concentrated, with one customer accounting for 11.4% of revenue in the second quarter. The company continues to focus on expanding its market presence, with 94% of sales in the latest quarter coming from the United States, compared to 92% in the same quarter of 2024. The company also reported a slight increase in employee headcount, reflecting its ongoing investment in sales and marketing efforts.

Looking ahead, Forian expects to continue leveraging its recent acquisition of Kyber to drive further growth. The company plans to enhance its product offerings and expand its customer base, while also managing costs associated with its operations. As of June 30, 2025, Forian had cash and marketable securities totaling approximately $35.6 million, providing a solid financial foundation for future investments and potential acquisitions.