This company has been acquired
Forian Management
Management criteria checks 3/4
Forian's CEO is Max Wygod, appointed in Jan 2019, has a tenure of 7.33 years. total yearly compensation is $461.00K, comprised of 16.3% salary and 83.7% bonuses, including company stock and options. directly owns 12.35% of the company’s shares, worth $8.37M. The average tenure of the management team and the board of directors is 4 years and 5.2 years respectively.
Key information
Max Wygod
Chief executive officer
US$461.0k
Total compensation
| CEO salary percentage | 16.27% |
| CEO tenure | 7.3yrs |
| CEO ownership | 12.4% |
| Management average tenure | 4yrs |
| Board average tenure | 5.2yrs |
Recent management updates
Recent updates
FORA: Maryland Governance Shift And Assumption Tweaks Will Shape Balanced Outlook
Forian's updated analyst price target in $ has shifted slightly, with analysts citing modest adjustments to the discount rate, profit margin assumptions and the expected future P/E as the main factors driving the revision. What's in the News On January 8, 2026, Forian stockholders approved a change so the company is no longer governed by its existing certificate of incorporation and bylaws and is now governed by a Maryland Charter and Maryland Bylaws (Key Developments).FORA: Maryland Move And Updated Assumptions Will Shape Balanced Forward Outlook
Analysts have adjusted their price target for Forian to $2.10 per share. This reflects updated assumptions for the discount rate, profit margin and future P/E, while keeping fair value per share broadly aligned with prior estimates.FORA: Maryland Redomicile And Stable Assumptions Will Support Balanced Forward Outlook
Analysts have made a modest adjustment to their fair value view on Forian, with a slightly lower discount rate and virtually unchanged revenue growth, profit margin, and future P/E assumptions guiding the latest price target update in dollar terms. What's in the News Stockholders approved a change in governing documents on January 8, 2026, moving Forian from its existing certificate of incorporation and bylaws to a Maryland Charter and Maryland Bylaws.FORA: Maryland Redomicile And Data Investment Will Support Steady Forward Outlook
Analysts have trimmed their price target on Forian to US$2.10 from US$2.20, citing slightly lower assumed discount rates and modest adjustments to long term revenue growth, profit margin and future P/E expectations. What's in the News Stockholders approved a change in Forian's governing documents on January 8, 2026, moving from the existing certificate of incorporation and bylaws to a Maryland Charter and Maryland Bylaws.FORA: Maryland Move And Data Investments Will Support Balanced Forward Outlook
Analysts have slightly reduced their price target on Forian to account for minor changes in key model inputs such as the discount rate and forward P/E, while maintaining their estimate of fair value at US$2.10 per share. What's in the News Stockholders approved Forian's move to be governed by a Maryland Charter and Maryland Bylaws, replacing its prior certificate of incorporation and bylaws, following a special meeting held on January 8, 2026 (company announcement).FORA: Data Investments And Redomiciling Vote Will Shape Balanced Future Outlook
Analysts have modestly adjusted their price target for Forian, reflecting slightly higher assumed discount rates, a small change in long term profit margin expectations, and a marginally richer future P/E multiple in their updated models. What's in the News Forian has called a special or extraordinary shareholders meeting for January 8, 2026, at 12:00 US Eastern Standard Time to consider a proposal to redomicile from Delaware to Maryland through a statutory conversion (Key Developments).FORA: Guidance And Data Investments Will Shape Outlook Ahead Of Shareholder Meeting
Analysts have modestly raised their price target on Forian to reflect a slightly higher future earnings multiple of about 29.7 times. At the same time, largely unchanged fair value and growth assumptions indicate a more measured optimism about the company’s long term profit trajectory.FORA: Guidance, Data Investments And Shareholder Meeting Will Shape Balanced Outlook
Analysts have raised their price target on Forian modestly, citing a slightly higher discount rate and marginally improved expectations for long term profitability and valuation multiples. Together, these factors support a fair value of approximately 2.10 dollars per share.FORA: Share Buyout Bid And Evolving Guidance Will Shape Outlook
Analysts have significantly reduced their price target for Forian from $5.00 to $2.10 per share, citing lower expected revenue growth and profit margins as the primary factors for the revision. What's in the News A consortium led by Max Wygod has announced plans to acquire the remaining 37% stake in Forian Inc.Health Check: How Prudently Does Forian (NASDAQ:FORA) Use Debt?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Investors Aren't Entirely Convinced By Forian Inc.'s (NASDAQ:FORA) Revenues
There wouldn't be many who think Forian Inc.'s ( NASDAQ:FORA ) price-to-sales (or "P/S") ratio of 2.8x is worth a...There's Reason For Concern Over Forian Inc.'s (NASDAQ:FORA) Massive 30% Price Jump
The Forian Inc. ( NASDAQ:FORA ) share price has done very well over the last month, posting an excellent gain of 30...
Integration Of Kyber Data Science Will Provide Differentiated Value To Customers
The acquisition of Kyber Data Science and strategic partnerships are expected to enhance market reach and shareholder value, driving revenue growth.The Consensus EPS Estimates For Forian Inc. (NASDAQ:FORA) Just Fell A Lot
Market forces rained on the parade of Forian Inc. ( NASDAQ:FORA ) shareholders today, when the covering analyst...Forian (NASDAQ:FORA) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of
Investors were disappointed with Forian Inc.'s ( NASDAQ:FORA ) earnings, despite the strong profit numbers. Our...Unpleasant Surprises Could Be In Store For Forian Inc.'s (NASDAQ:FORA) Shares
Forian Inc.'s ( NASDAQ:FORA ) price-to-sales (or "P/S") ratio of 4.4x may look like a poor investment opportunity when...Is Forian (NASDAQ:FORA) Using Too Much Debt?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Investors Give Forian Inc. (NASDAQ:FORA) Shares A 28% Hiding
The Forian Inc. ( NASDAQ:FORA ) share price has fared very poorly over the last month, falling by a substantial 28...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Dec 31 2025 | US$461k | US$75k | -US$3m |
| Sep 30 2025 | n/a | n/a | -US$853k |
| Jun 30 2025 | n/a | n/a | -US$906k |
| Mar 31 2025 | n/a | n/a | -US$4m |
| Dec 31 2024 | US$75k | US$75k | -US$4m |
| Sep 30 2024 | n/a | n/a | -US$4m |
| Jun 30 2024 | n/a | n/a | US$2m |
| Mar 31 2024 | n/a | n/a | US$3m |
| Dec 31 2023 | US$833k | US$75k | US$2m |
| Sep 30 2023 | n/a | n/a | US$214k |
| Jun 30 2023 | n/a | n/a | -US$8m |
| Mar 31 2023 | n/a | n/a | -US$11m |
| Dec 31 2022 | US$75k | US$75k | -US$19m |
| Sep 30 2022 | n/a | n/a | -US$25m |
| Jun 30 2022 | n/a | n/a | -US$29m |
| Mar 31 2022 | n/a | n/a | -US$32m |
| Dec 31 2021 | n/a | n/a | -US$27m |
| Sep 30 2021 | n/a | n/a | -US$21m |
| Jun 30 2021 | n/a | n/a | -US$15m |
| Mar 31 2021 | n/a | n/a | -US$9m |
| Dec 31 2020 | US$56k | US$47k | -US$5m |
Compensation vs Market: Max's total compensation ($USD461.00K) is about average for companies of similar size in the US market ($USD627.70K).
Compensation vs Earnings: Max's compensation has increased whilst the company is unprofitable.
CEO
Max Wygod (37 yo)
Mr. Max C. Wygod serves as Chief Executive Officer and President at Forian Inc. since February 10, 2023 and served as Interim CEO since 2023. Mr. Wygod is Chief Executive Officer of Bravo Merger Sub, Inc....
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder | 7.3yrs | US$461.00k | 12.35% $ 8.4m | |
| Co-Founder | no data | US$965.67k | 8.02% $ 5.4m | |
| Chief Financial Officer | 4.7yrs | US$933.07k | 0.45% $ 303.0k | |
| General Counsel & Secretary | no data | no data | no data | |
| Chief Commercial Officer | 3.3yrs | no data | no data | |
| President of Kyber Data Science | 1.5yrs | no data | no data |
Experienced Management: FORA's management team is considered experienced (4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder | 5.6yrs | US$461.00k | 12.35% $ 8.4m | |
| Co-Founder | 5.6yrs | US$965.67k | 8.02% $ 5.4m | |
| Independent Director | 5.2yrs | US$30.90k | 0.12% $ 78.8k | |
| Independent Director | 5.2yrs | US$30.90k | 0.65% $ 439.3k | |
| Independent Director | 5.2yrs | US$45.90k | 0.34% $ 227.4k | |
| Independent Director | 5.2yrs | US$30.90k | 0.092% $ 62.4k | |
| Independent Director | 5.2yrs | US$45.90k | 0.016% $ 10.8k | |
| Independent Director | 5.2yrs | US$30.90k | 0.032% $ 21.7k |
Experienced Board: FORA's board of directors are considered experienced (5.2 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/16 09:23 |
| End of Day Share Price | 2026/05/14 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Forian Inc. is covered by 1 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Richard Baldry | Roth Capital Partners |