Slide 1: Q4 2022 Financial Results
Q4 2022 Financial Results March 27, 2023 © 2023 Forian Inc. | Confidential and Proprietary 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: Total Revenue Trend
Total Revenue Trend 37% Q4 2022 revenue growth over 66% 2022 annual revenue growth same quarter last year over last year Pro-Forma Q1 2021 Revenue illustrates revenue adjusted to include the revenue earned by Helix Technologies during the period prior to the merger. © 2023 Forian Inc. | Confidential
Slide 4: Healthcare Information Revenue Trend
Healthcare Information Revenue Trend 64% Q4 2022 revenue growth over 130% annual Healthcare same quarter last year Information Revenue growth over last year Pro-Forma Q1 2021 Revenue illustrates revenue adjusted to include the revenue earned by Helix Technologies during the period prior to the merge
Slide 5: Revenue and Adjusted EBITDA
Revenue and Adjusted EBITDA Three Months Ended December 31, (in 000's) Year Ended December 31, (in 000's) 2022 2021 change change % 2022 2021 change change % Revenue $ 7,904 $ 5,749 $ 2,155 37% $ 28,006 $ 16,880 $ 11,126 66% ProForma Revenue (1) N/A N/A N/A $ 28,006 $ 18,889 $ 9,117 48% Net Loss $ (
Slide 6: Adjusted EBITDA Trend
Adjusted EBITDA Trend Decreased adjusted EBITDA loss sequentially each quarter in 2022 Adjusted EBITDA is a non-U.S. GAAP measure. See Slide 3 and Appendix A for further information, including a reconciliation of Adjusted EBITDA to Net Loss. © 2023 Forian Inc. | Confidential and Proprietary 6
Slide 7: Summary Balance Sheet and Cash Flow
Summary Balance Sheet and Cash Flow Cash Flows $000's 31-Dec-22 Balance Sheet CASH FLOWS FROM OPERATIONS $000's 31-Dec-22 Net loss $ (25,972) Depreciation & amortization 2,893 • Well capitalized to Cash & marketable securities $ 20,716 PIK interest-convertible note 841 Gain on sale of assets (33) pu
Slide 8: Full Year 2022 Outlook
Full Year 2022 Outlook Exceeded high end of 2022 revenue guidance of $27 million by $1 million Expect 2023 Healthcare Information Revenue growth of 25% to 37% resulting in revenue in the range of $20.5 to $22.5 million (excludes revenue of operations disposed of in 2022, see “Other” and “BioTrack” r
Slide 9: Q&A
Q&A © 2023 Forian Inc. | Confidential and Proprietary 9
Slide 10: Appendix A
Appendix A © 2023 Forian Inc. | Confidential and Proprietary 10
Slide 11: 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 12: Non-U.S. GAAP Reconciliations Reported Net Income to Adjusted EBITDA
Non-U.S. GAAP Reconciliations Reported Net Income to Adjusted EBITDA $000's 4Q 2022 4Q 2021 FYE 2022 FYE 2021 Explanation Net Income $ (3,557) $ (8,049) $ (25,972) $ (26,551) Adjustments Depreciation & amortization 840 605 2,893 1,987 Stock based compensation 1,677 3,055 13,311 9,300 Change in fair
Slide 13: Supplementary Revenue Data
Supplementary Revenue Data Disaggregated Revenues ($000's): December 31, December 31, 2022 2021 2022 2021 Healthcare Information 4,970 3,036 16,418 7,139 Software Subscriptions 2,542 2,254 9,768 7,813 Services 378 264 1,546 1,123 Other 15 195 274 805 Total $ 7,904 $ 5,749 $ 28,006 $ 16,880 Reconcili
Slide 14: © 2023 Forian Inc. | Confidential and Proprietary
© 2023 Forian Inc. | Confidential and Proprietary