FORIAN INC Reports Third Quarter FY2023 Earnings Results as of September 30 2023
November 21, 2023
🌥️Earnings Overview
On November 9 2023, FORIAN INC ($NASDAQ:FORA) reported its financial results for the third quarter of the fiscal year 2023, ending on September 30 2023. The company’s revenue for the quarter was USD 5.3 million, a decrease of 25.5% compared to the same period in the prior year. However, the net income saw a significant rise of 184.6%, amounting to USD 4.3 million.
Stock Price
The stock opened at $2.4 and closed at the same price, up by 0.4% from the prior closing price of $2.4. Overall, it appears that FORIAN INC has performed well in the third quarter with an increase in net income and total assets, as well as steady stock performance. Investors remain optimistic about the company’s future prospects as they continue their growth trajectory. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Forian Inc. More…
| Total Revenues | Net Income | Net Margin |
| 31.67 | 6.16 | -34.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Forian Inc. More…
| Operations | Investing | Financing |
| 1.7 | 3.91 | -1.14 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Forian Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 58.79 | 32.13 | 0.86 |
Key Ratios Snapshot
Some of the financial key ratios for Forian Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -17.5% |
| FCF Margin | ROE | ROA |
| -0.1% | -14.6% | -5.9% |
Analysis
GoodWhale conducted an analysis of FORIAN INC‘s wellbeing and the results are presented in our Star Chart. We found that FORIAN INC has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating it is likely to safely ride out any crisis without the risk of bankruptcy. In terms of individual indicators, FORIAN INC is strong in asset and growth, but weak in dividend and profitability. Based on this assessment, we classify FORIAN INC as a ‘cheetah’, which is a type of company that achieves high revenue or earnings growth but is considered less stable due to lower profitability. Investors who may be interested in such company may include those looking for potential high returns in the long run. However, they may also need to consider the risk associated with investing in a cheetah company. More…
Peers
The competition between Forian Inc and its competitors is fierce. Each company is vying for a share of the market, and each is trying to outdo the other in terms of products and services. Forian Inc is a leading provider of DNA sequencing services, and its competitors are SCWorx Corp, Yidu Tech Inc, and Sophia Genetics SA. Each company has its own strengths and weaknesses, and each is trying to capitalize on the other’s weaknesses. The competition between these companies is intense, and it is sure to benefit the consumer in the long run.
– SCWorx Corp ($NASDAQ:WORX)
SCWorx Corp is a software development company that specializes in enterprise resource planning (ERP) solutions. The company has a market cap of 8.14M and a ROE of -31.87%. SCWorx Corp’s ERP solutions are designed to help businesses streamline their operations and improve their overall efficiency. The company’s products are used by businesses of all sizes, from small businesses to large enterprises.
– Yidu Tech Inc ($SEHK:02158)
Yidu Tech Inc is a holding company that provides technology services. It offers big data solutions, cloud computing solutions, artificial intelligence solutions, and other related services. The company has a market cap of 4.52B as of 2022 and a Return on Equity of -18.29%. Yidu Tech Inc’s main competitors are Alibaba Group, Baidu, and Tencent Holdings.
– Sophia Genetics SA ($NASDAQ:SOPH)
Sophia Genetics is a Swiss genetics company founded in 2011. The company is headquartered in Lausanne, Switzerland. Sophia Genetics uses artificial intelligence in genomics to provide clinical decision support tools to doctors and hospitals. The company’s products are used in over 70 countries.
Summary
Investors should take notice of FORIAN INC‘s strong third quarter of FY2023. Total revenue for the period ended September 30 2023 dropped 25.5% year-over-year to USD 5.3 million, but net income soared by 184.6%, reaching USD 4.3 million. This impressive turnaround has likely been caused by the company’s successful cost-cutting initiatives and improved operational efficiency. Investors should monitor the company’s progress as it works to continue expanding revenue and profits in the coming quarters.
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