Slide 1: Q3 2023 Financial Results
Q3 2023 Financial Results November 9, 2023 © 2023 Forian Inc. All Rights Reserved. 1
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In
Slide 3: Opening Remarks
Opening Remarks Max Wygod Executive Chairman and Chief Executive Officer © 2023 Forian Inc. All Rights Reserved. 3
Slide 4: Financial Review
Financial Review Mike Vesey Chief Financial Officer © 2023 Forian Inc. All Rights Reserved. 4
Slide 5: Healthcare Information Revenue Trend
Healthcare Information Revenue Trend 24% Q2 2023 revenue growth over same quarter last year 32% Q2 2023 revenue growth over same period YTD last year © 2023 Forian Inc. All Rights Reserved. 5
Slide 6: Revenue and Adjusted EBITDA
Revenue and Adjusted EBITDA Q3 2023 YTD Q3 2023 Period-over- Period-over- 2023 2022 Period % 2023 2022 Period % Unaudited Unaudited Change Unaudited Unaudited Change Total revenue $ 5,348 $ 4,311 24% $ 15,112 $ 11,448 32% Income (loss) from continuing operations, net of tax $ 5,454 $ (2,966) 284% $
Slide 7: Costs and Expenses
Costs and Expenses Focused business model drives cost reductions: • 14% decrease in Q3 2023 Other Costs and Expenses • 31% decrease in YTD Q3 2023 Other Costs and Expenses Note: Other costs and expenses excludes separation expenses, stock compensation and depreciation & amortization expense. © 2023
Slide 8: Adjusted EBITDA – continuing operations
Adjusted EBITDA – continuing operations Continued improvement in Adjusted EBITDA driven by revenue growth and cost management Adjusted EBITDA is a non-U.S. GAAP measure. See Appendix for further information, including a reconciliation of Adjusted EBITDA to Net Income (Loss). © 2023 Forian Inc. All R
Slide 9: Summary Balance Sheet Data
Summary Balance Sheet Data $000’s September 30, 2023 Cash and equivalents $48,963 Proceeds receivable – sale of discontinued operations $ 4,098 Net working capital $51,028 Convertible note and accrued interest (due 9/2025) $24,666 Shares outstanding 32,489 © 2023 Forian Inc. All Rights Reserved. 9
Slide 10: Full Year 2023 Outlook
Full Year 2023 Outlook Expect 2023 Healthcare Information Revenue growth of 25%+ resulting in revenue in the range of $20.5 to $22.5 million Positive Adjusted EBITDA contribution in 2023 Adjusted EBITDA is a non-U.S. GAAP measure. See Appendix for further information, including a reconciliation of A
Slide 11: Q&A
Q&A © 2023 Forian Inc. All Rights Reserved. 11
Slide 12: Appendix
Appendix © 2023 Forian Inc. All Rights Reserved. 12
Slide 13: Reconciliation of U.S. GAAP to Non-GAAP Financial Measures
Reconciliation of U.S. GAAP to Non-GAAP Financial Measures This presentation includes a non-GAAP measure, which we define as financial information that has not been prepared in accordance with U.S. GAAP. The non-U.S. GAAP financial measure provided herein is earnings before interest, taxes, non-cash
Slide 14: Non-U.S. GAAP Reconciliations: Reported Net Income to Adjusted EBITDA
Non-U.S. GAAP Reconciliations Reported Net Income to Adjusted EBITDA For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Total revenues $ 5,348,469 $ 4,310,694 $ 15,112,398 $ 11,448,468 Net Income (loss) from continuing operations $ 5,453,643 $ (2,966
Slide 15: © 2023 Forian Inc. All Rights Reserved.
© 2023 Forian Inc. All Rights Reserved.