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FORA

Forian NasdaqCM:FORA Stock Report

Last Price

US$4.01

Market Cap

US$128.1m

7D

-18.7%

1Y

-64.2%

Updated

09 Aug, 2022

Data

Company Financials +
FORA fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance0/6
Financial Health4/6
Dividends0/6

FORA Stock Overview

Forian Inc. provides software solutions, proprietary data driven insights, and predictive analytics to optimize the operational, clinical, and financial performance of its healthcare, cannabis, and government customers.

Forian Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Forian
Historical stock prices
Current Share PriceUS$4.01
52 Week HighUS$12.56
52 Week LowUS$2.56
Beta0
1 Month Change-26.29%
3 Month Change34.56%
1 Year Change-64.16%
3 Year Changen/a
5 Year Changen/a
Change since IPO-82.49%

Recent News & Updates

Shareholder Returns

FORAUS Healthcare ServicesUS Market
7D-18.7%-2.2%0.3%
1Y-64.2%-43.7%-13.5%

Return vs Industry: FORA underperformed the US Healthcare Services industry which returned -43.4% over the past year.

Return vs Market: FORA underperformed the US Market which returned -13% over the past year.

Price Volatility

Is FORA's price volatile compared to industry and market?
FORA volatility
FORA Average Weekly Movement15.6%
Healthcare Services Industry Average Movement12.0%
Market Average Movement7.9%
10% most volatile stocks in US Market17.2%
10% least volatile stocks in US Market3.2%

Stable Share Price: FORA is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 16% a week.

Volatility Over Time: FORA's weekly volatility (16%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
n/a139Dan Bartonhttps://forian.com

Forian Inc. provides software solutions, proprietary data driven insights, and predictive analytics to optimize the operational, clinical, and financial performance of its healthcare, cannabis, and government customers. It operates through three segments: Information & Software, Services, and Other. The company’s products include BioTrack, a vertically integrated point of sale, manufacturing, delivery, and cultivator software solution for dispensaries, cultivators, manufacturers, and distributors; and Cannalytics, a Software as a Service based analytics solution that provides clients with a presentation of business performance.

Forian Fundamentals Summary

How do Forian's earnings and revenue compare to its market cap?
FORA fundamental statistics
Market CapUS$128.07m
Earnings (TTM)-US$33.89m
Revenue (TTM)US$21.65m

5.9x

P/S Ratio

-3.8x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FORA income statement (TTM)
RevenueUS$21.65m
Cost of RevenueUS$5.83m
Gross ProfitUS$15.82m
Other ExpensesUS$49.71m
Earnings-US$33.89m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 11, 2022

Earnings per share (EPS)-1.06
Gross Margin73.09%
Net Profit Margin-156.53%
Debt/Equity Ratio115.3%

How did FORA perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is FORA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FORA?

Other financial metrics that can be useful for relative valuation.

FORA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue5.8x
Enterprise Value/EBITDA-4.6x
PEG Ration/a

Price to Sales Ratio vs Peers

How does FORA's PS Ratio compare to its peers?

FORA PS Ratio vs Peers
The above table shows the PS ratio for FORA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average2x
TRHC Tabula Rasa HealthCare
0.3x8.3%US$121.2m
ICAD iCAD
3x27.7%US$95.9m
UPH UpHealth
0.7x27.8%US$100.8m
STRM Streamline Health Solutions
3.9x18.5%US$79.8m
FORA Forian
5.9x31.2%US$128.1m

Price-To-Sales vs Peers: FORA is expensive based on its Price-To-Sales Ratio (5.9x) compared to the peer average (2x).


Price to Earnings Ratio vs Industry

How does FORA's PE Ratio compare vs other companies in the US Healthcare Services Industry?

Price-To-Sales vs Industry: FORA is expensive based on its Price-To-Sales Ratio (5.9x) compared to the US Healthcare Services industry average (2.8x)


Price to Sales Ratio vs Fair Ratio

What is FORA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FORA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.9x
Fair PS Ratio7.9x

Price-To-Sales vs Fair Ratio: FORA is good value based on its Price-To-Sales Ratio (5.9x) compared to the estimated Fair Price-To-Sales Ratio (7.9x).


Share Price vs Fair Value

What is the Fair Price of FORA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate FORA's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate FORA's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Forian forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


36.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FORA is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: FORA is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: FORA is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: FORA's revenue (31.2% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: FORA's revenue (31.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FORA's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Forian performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-284.2%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: FORA is currently unprofitable.

Growing Profit Margin: FORA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if FORA's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare FORA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: FORA is unprofitable, making it difficult to compare its past year earnings growth to the Healthcare Services industry (2.7%).


Return on Equity

High ROE: FORA has a negative Return on Equity (-159.69%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Forian's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: FORA's short term assets ($33.3M) exceed its short term liabilities ($8.2M).

Long Term Liabilities: FORA's short term assets ($33.3M) exceed its long term liabilities ($25.0M).


Debt to Equity History and Analysis

Debt Level: FORA has more cash than its total debt.

Reducing Debt: Insufficient data to determine if FORA's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: FORA has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: FORA has less than a year of cash runway if free cash flow continues to reduce at historical rates of 90.3% each year


Discover healthy companies

Dividend

What is Forian current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate FORA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FORA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FORA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FORA's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as FORA has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.2yrs

Average management tenure


CEO

Dan Barton (57 yo)

1.42yrs

Tenure

US$207,386

Compensation

Mr. Daniel J. Barton, also known as Dan, serves as Chief Executive Officer and Director of Forian Inc. since March 2021. Mr. Barton also served as Chief Executive Officer of Medical Outcomes Research Analy...


CEO Compensation Analysis

Compensation vs Market: Dan's total compensation ($USD207.39K) is below average for companies of similar size in the US market ($USD763.69K).

Compensation vs Earnings: Dan's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FORA's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Members

Experienced Board: FORA's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3%.


Top Shareholders

Company Information

Forian Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Forian Inc.
  • Ticker: FORA
  • Exchange: NasdaqCM
  • Founded: NaN
  • Industry: Health Care Technology
  • Sector: Healthcare
  • Implied Market Cap: US$128.067m
  • Shares outstanding: 31.94m
  • Website: https://forian.com

Number of Employees


Location

  • Forian Inc.
  • 41 University Drive
  • Suite 400
  • Newtown
  • Pennsylvania
  • 18940
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/09 00:00
End of Day Share Price2022/08/09 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.