Curated News
By: NewsRamp Editorial Staff
November 13, 2024

Forian Inc. Announces Q3 2024 Financial Results and Acquisition of Kyber Data Science

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Source News Release

TLDR

  • Forian Inc. reported steady revenue with a 12% decrease from the prior year, offering potential investment opportunities.
  • The financial results for the third quarter of 2024 showed a decrease in revenue and net income from continuing operations compared to the prior year.
  • Forian's commitment to driving long-term value reflects its vision to capitalize on emerging opportunities, ultimately delivering success for stakeholders.
  • Forian Inc. acquired Kyber Data Science, adding machine learning-empowered analytics offerings, expanding its market reach and solution portfolio.

Impact - Why it Matters

This news matters as it provides insights into Forian Inc.'s financial performance and strategic direction, which can impact investors, stakeholders, and the industries it serves. The acquisition of Kyber Data Science signifies the company's commitment to enhancing its offerings and expanding its market reach, potentially influencing the competitive landscape in the life science, healthcare, and financial services sectors.

Summary

Forian Inc. (Nasdaq: FORA), a leading provider of data science driven information and analytics solutions to the life science, healthcare and financial services industries, announced its third quarter 2024 financial results. Despite a slight decrease in revenue, the company's Chairman and CEO, Max Wygod, expressed optimism about the strategic vision and the recent acquisition of Kyber Data Science, which enhances Forian's offering suite and expands its market reach.

The company also disclosed that it redeemed 3.5% Convertible Notes and outstanding equity, signaling a strong financial position with over $49.4 million in cash, cash equivalents, and marketable securities as of September 30, 2024.

Forian will host a conference call and webcast to discuss its financial results, providing investors and stakeholders with an opportunity to gain insights into the company's performance and future prospects.

Source Statement

This curated news summary relied on this press release disributed by NewMediaWire. Read the source press release here, Forian Inc. Announces Q3 2024 Financial Results and Acquisition of Kyber Data Science

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