FORA earnings analysis
What we found in FORA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Forian Inc.'s Q1 2026 results indicate a continuation of revenue decline, with total revenues falling to $6.85M, a decrease of $205K or 2.9% from Q1 2025. The operating loss widened significantly to $3.49M compared to a loss of $1.39M a year prior, largely driven by increased costs of revenues and strategic expenses. Despite this, the company still possesses a robust liquidity position with $30.95M in cash as of the reporting date.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Total revenue for Q1 2026 was $6.85M, down $205K or 2.9% from $7.06M in Q1 2025.
- Widened Operating Loss
- Operating loss widened to $3.49M compared to a loss of $1.39M in the previous year.
- Drop in Gross Margin
- Gross profit margin decreased to 29% in Q1 2026, down from 56% in Q1 2025.
- Increased R&D Spending
- R&D expenses increased to $961K, up $355K from $606K in Q1 2025.
- Decreased General & Administrative Costs
- General and administrative expenses fell by $832K to $2.45M from $3.28M year-over-year.
- Strong Cash Position
- Cash balance grew to $30.95M, showing solid liquidity for future operations.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Dependence on Client Contracts
- The decrease in revenue was partly due to contract terminations by health science customers, highlighting vulnerability in client dependency.
- Increased Operating Losses
- The operating loss has expanded significantly, with a $3.49M loss indicating ongoing profitability challenges.
- Regulatory and Compliance Risks
- Continued disclosure of material weaknesses in internal controls could hinder investor confidence.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.14
- Gross margin
- 29%
What they said about what is next.
Management did not provide numeric guidance, suggesting uncertainty in future earnings.
The filing reads worse than the one before it.
What came before.
- 10-K · April 30, 2026
- Forian Inc.'s 10-K filing reveals a challenging financial landscape with varied earnings performance over the previous quarters, showcasing inflections in revenue and EPS, particularly with a significant drop in…
- 10-K · March 27, 2026
- Forian describes a strategy focused on data factory-driven, subscription and services-based information products for healthcare, life sciences and (post‑Kyber) financial services clients, emphasizing a large linked…
- 10-Q · November 14, 2025
- Forian reported Q3 revenue of $7,762,183, up from $4,686,312 in Q3 2024, with gross margin of 51.6% and an operating loss of $469,885 (‑6.1% of revenue). Net loss narrowed to $151,220 (basic/diluted loss per share…
- 10-Q · August 14, 2025
- Forian reported strong top-line acceleration in Q2 2025 with revenue of $7,476,140, up from $4,777,101 in Q2 2024 (+56.5%). The company swung to operating income of $46,076 (0.6% operating margin) from an operating loss…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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