Slide 1: Q1 2022 Financial Results
Q1 2022 Financial Results May 12, 2022 © 2022 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: Q1 2022 Financial Results
Q1 2022 Financial Results © 2022 Forian Inc. | Confidential and Proprietary 3
Slide 4: Q1 2022 Results Summary
Q1 2022 Results Summary Q1 2022 Revenue Q1 2022 Net Loss of $6.4 million of $11.9 million (inclusive of $5.6 million of separation expenses) +76% year-over-year Q1 2022 Adjusted EBITDA1 of on a Pro-Forma basis ($3.4) million 1 Adjusted EBITDA is a non-U.S. GAAP measure. See slide 7 and Appendix A fo
Slide 5: Continued Revenue Growth
Continued Revenue Growth 76% Q1 2022 revenue growth over Revenue growth driven by prior year on a Pro-Forma basis Healthcare Information Pro-Forma Revenue illustrates revenue adjusted to include the revenue earned by Helix Technologies during the periods prior to the merger. © 2022 Forian Inc. | Con
Slide 6: Revenue and Adjusted EBITDA
Revenue and Adjusted EBITDA QTR Ended March 31, (in 000's) 2022 2021 change change % Revenue $ 6,391 $ 1,621 $ 4,771 294% ProForma Revenue (1) $ 6,391 $ 3,630 $ 2,762 76% Net Loss $ (11,854) $ (4,516) $ (7,338) Adjusted EBITDA (2) $ (3,411) $ (2,855) $ (557) • Completed merger with Helix Technologie
Slide 7: Non-U.S. GAAP Reconciliations Reported Net Income to Adjusted EBITDA
Non-U.S. GAAP Reconciliations Reported Net Income to Adjusted EBITDA $000's 1Q 2022 YTD 2022 Explanation Net Income $ (11,854) $ (4,516) Adjustments Depreciation & amortization 606 188 Stock based compensation 7,905 864 Change in fair value of warrant liability (220) (624) GAAP required mark to mark
Slide 8: Summary Balance Sheet and Cash Flow
Summary Balance Sheet and Cash Flow Cash Flows Balance Sheet $000's 31-Mar-22 $000's 31-Dec-21 CASH FLOWS FROM OPERATIONS Net loss $ (11,854) Cash & marketable securities $ 27,147 Depreciation & amortization 606 PIK interest-convertible note 210 Other current assets 6,186 Total current assets 33,333
Slide 9: Full Year 2022 Outlook
Full Year 2022 Outlook Revenue growth of 51% to 60% resulting in total revenue in the range of $25.5 to $27.0 million Improvement in Adjusted EBITDA loss beginning in the second half of 2022 reaching positive Adjusted EBITDA contribution in the second half of 2023 The outlook provided above constitu
Slide 10: Q&A
Q&A © 2022 Forian Inc. | Confidential and Proprietary 10
Slide 11: Appendix A
Appendix A © 2022 Forian Inc. | Confidential and Proprietary 11
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: © 2022 Forian Inc. | Confidential and Proprietary
© 2022 Forian Inc. | Confidential and Proprietary