Slide 1: Q3 2025 Financial Results
Q3 2025 Financial Results November 14, 2025 1 © 2025 Forian Inc. All Rights Reserved.
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: Revenue and Adjusted EBITDA
Revenue and Adjusted EBITDA ($000's) Three Months Ended September 30, ($000's) Nine Months Ended September 30, Period-over- Period-over- 2025 2024 Period % 2025 2024 Period % Unaudited Unaudited Change Unaudited Unaudited Change Revenue $ 7,762 $ 4,686 66% $ 22,294 $ 14,341 55% Net loss $ (151) $ (2
Slide 4: Revenue Trend
Revenue Trend Q3 revenue increased $3.1m or 66% from prior year • Kyber acquisition contributed $2.0m to growth for Q3 and $5.6YTD • Approximately 23% internal growth for Q3, 17% YTD 4 © 2025 Forian Inc. All Rights Reserved.
Slide 5: Costs and Expenses
Costs and Expenses Other costs and expenses increased $2.8 million for Qtr and $7.3 million YTD, primarily due to the impact of the Kyber acquisition and increased data licensing costs. Note: Other costs and expenses excludes non recurring expenses related to litigation & review of strategic alterna
Slide 6: Adjusted EBITDA – continuing operations
Adjusted EBITDA – continuing operations Maintained positive EBITDA contribution while continuing investing in information assets and integrating Kyber operations Adjusted EBITDA is a non-U.S. GAAP measure. See Appendix for further information, including a reconciliation of Adjusted EBITDA to Net Los
Slide 7: Adjusted EBITDA Margin
Adjusted EBITDA Margin Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenues 7 © 2025 Forian Inc. All Rights Reserved.
Slide 8: Summary Balance Sheet Data $000’s
Summary Balance Sheet Data $000’s September 30, December 31, 2025 2024 Cash and equivalents $28,225 $35,083 Net working capital $29,194 $27,855 Convertible note and accrued interest (due 9/2025) $ - $6,698 Shares outstanding 30,997 31,011 8 © 2025 Forian Inc. All Rights Reserved.
Slide 9: Full Year 2025 Outlook
Full Year 2025 Outlook Expect to finish 2025 with revenue at the high end of the previously provided range of $28-$30 million Expect 2025 Adjusted Ebitda to be at the high end of the previously provided range of ($1.0) to $1.0 million The outlook provided above constitutes forward-looking informatio
Slide 10: Q&A
Q&A 10 © 2025 Forian Inc. All Rights Reserved.
Slide 11: Appendix
Appendix 11 © 2025 Forian Inc. All Rights Reserved.
Slide 12: 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 13: Non-U.S. GAAP Reconciliations Reported Net Income to Adjusted EBITDA
Non-U.S. GAAP Reconciliations Reported Net Income to Adjusted EBITDA FORIAN INC. RECONCILIATION OF US GAAP TO NON-GAAP FINANCIAL MEASURES (UNAUDITED) For the Three Months Ended For the Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Revenue $ 7,762,183 $ 4,686,312 $ 22,294,439 $ 14
Slide 14: © 2025 Forian Inc. All Rights Reserved.
© 2025 Forian Inc. All Rights Reserved.