Forian Inc. announced its financial results for the third quarter ended September 30, 2024, on November 13, 2024. The company reported revenue of US$4.69 million, which represents a 12% decrease compared to the third quarter of 2023. This decline in top-line performance indicates a challenging period for the company.
Despite the revenue decrease, Max Wygod, Chairman and Chief Executive Officer of Forian, stated that the team's commitment to driving long-term value has resulted in progress in their strategic vision. He highlighted the recent acquisition of Kyber Data Science as an enhancement to the momentum being built. This acquisition is expected to position Forian to capitalize on emerging opportunities.
The company emphasized that the addition of Kyber Data Science is intended to enhance its data science-driven information and analytics solutions. This strategic move aims to deliver sustained success for stakeholders by expanding capabilities in the life science, healthcare, and financial services industries.
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