Forian Inc., a provider of technology, analytics and data science driven solutions for the healthcare and cannabis industries, today announced results for its fiscal first quarter ended March 31, 2021.
“This quarter was transformational for Forian. We completed a strategic business combination with Helix Technologies and further positioned ourselves to be a disruptive leader in delivering high value technology and information solutions to customers across the healthcare and evolving cannabis industries, while simultaneously becoming a Nasdaq publicly-traded company,” said Dan Barton, Chief Executive Officer of Forian. “We look forward to bringing new technology and information solutions to market that are driven by data science and improve the commercial, financial and clinical performance of our customers across healthcare and cannabis.”
First Quarter 2021 Financial Results
For the Three Months Ended March 31, |
Year-over- |
|||||||
2021 |
2020 |
|||||||
Unaudited |
Unaudited |
|||||||
Total revenue |
$ 1,620,609 |
$ 66,667 |
2331% |
|||||
Net Loss |
(4,491,647) |
(675,136) |
-565% |
|||||
Adjusted EBITDA1 |
(2,854,769) |
(674,417) |
-323%
|
|||||
Basic and diluted net loss per common share |
$ |
-0.19 |
$ |
-0.08 |
-138% |
First Quarter Operational Highlights
1 This press release uses non-GAAP financial measures that are adjusted for the impact of various U.S. GAAP items. See the section titled “Non-GAAP Financial Measures” and the table entitled “Reconciliation of U.S. GAAP to Non-GAAP Financial Measures” below for details.
Quarterly Conference Call
Forian will host a conference call at 8:30 a.m. ET today to discuss its financial results with the investment community. The conference call may be accessed by dialing (855) 940-5323 for domestic callers or (929) 517-0423 for international callers. The Conference ID is 9868065. To be included on the Company’s email distribution list, please sign up at www.forian.com/investors.
About Forian
Forian provides a unique suite of SaaS solutions, data management capabilities and proprietary data and analytics to optimize and measure operational, clinical and financial performance for customers within the traditional and emerging life sciences, healthcare payer and provider segments, as well as cannabis dispensaries, manufacturers, cultivators and regulators. For more information, please visit the Company’s website at www.forian.com.