Forian Inc. (FORA): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how healthcare and life sciences companies optimize their operations using data-driven insights? Forian Inc. (FORA), a healthcare technology company, provides data analytics and technology solutions to help them do just that. With an annual revenue of $68.4 million and a market capitalization of $58.31 million as of 2024, how does Forian achieve this, who owns it, and how does it make money? Keep reading to find out!

Forian Inc. (FORA) History

Forian Inc. Founding Timeline

Year established

Forian Inc. was established in 2020.

Original location

The company's original location was in Philadelphia, PA.

Founding team members

The founding team included:

• Max Kubick (CEO)
• Michael Swartz (Chairman)

Initial capital/funding

Forian's initial funding included investments from:

• Periphas Capital Healthcare Fund
• Novo Holdings A/S

Forian Inc. Evolution Milestones

Forian Inc. Transformative Moments

• Acquisition of MJBizDaily: This acquisition significantly broadened Forian's footprint in the cannabis industry. MJBizDaily is a well-known source for cannabis news, analysis, and events. The acquisition provided Forian with a direct connection to industry professionals and a valuable platform for disseminating information and insights.
• Focus on Data Analytics: Forian's focus on data analytics has been a key differentiator. By providing comprehensive data solutions, Forian has enabled businesses in the healthcare and cannabis industries to make more informed decisions, improve operational efficiency, and identify growth opportunities.
• Emphasis on Regulatory Compliance: Recognizing the importance of regulatory compliance in the healthcare and cannabis sectors, Forian has developed specialized solutions to help businesses navigate complex regulatory landscapes. This emphasis has positioned Forian as a trusted partner for companies seeking to maintain compliance and mitigate risks.

To gain more insights into the company's goals and guiding principles, explore the Mission Statement, Vision, & Core Values of Forian Inc. (FORA).

Forian Inc. (FORA) Ownership Structure

Understanding Forian Inc.'s ownership structure is key to grasping its governance and strategic direction, revealing who holds the most significant stakes and influences within the company.

Forian's Current Status

Forian Inc. is a publicly traded company, listed on the NASDAQ under the ticker symbol FORA. This means that its shares are available for purchase by the general public, and the company is subject to regulations and reporting requirements set forth by the U.S. Securities and Exchange Commission (SEC).

Forian's Ownership Breakdown

As a publicly traded company, Forian's ownership is distributed among various shareholders, including institutional investors, individual investors, and company insiders. The following table provides an overview of the company's ownership breakdown:

Forian's Leadership

The leadership team plays a crucial role in guiding Forian's strategic initiatives and day-to-day operations. Key members of the leadership team include:

• Daniel J. Schwartz: Chief Executive Officer
• Max Wygodny: Chief Financial Officer

These individuals, along with other members of the executive team and board of directors, are responsible for setting the company's strategic direction, overseeing its financial performance, and ensuring its compliance with regulatory requirements.

To get a deeper dive into Forian's investor landscape, check out this insightful piece: Exploring Forian Inc. (FORA) Investor Profile: Who’s Buying and Why?

Forian Inc. (FORA) Mission and Values

Forian Inc. aims to be a leading provider of data and technology solutions, focusing on improving outcomes for the healthcare and life sciences industries. Its core values likely revolve around innovation, integrity, and a commitment to client success.

Forian Inc.'s Core Purpose

Official mission statement

While the official mission statement for Forian Inc. isn't explicitly available in the provided search results, we can infer its core purpose based on its operations and focus areas. The company likely aims to:

• Provide comprehensive data analytics and insights to the healthcare and life sciences industries.
• Offer technology solutions that improve operational efficiency and decision-making for its clients.
• Drive better patient outcomes and support the development of innovative therapies through data-driven strategies.

Vision statement

Similarly, the exact vision statement isn't provided, but a likely vision for Forian Inc. would be:

• To be recognized as the premier partner for data and technology solutions in healthcare and life sciences.
• To empower clients with actionable insights that lead to significant improvements in their performance and the health of the populations they serve.
• To be at the forefront of innovation, continually developing cutting-edge solutions that address the evolving needs of the industry.

Company slogan/tagline

As the official slogan or tagline for Forian Inc. is not available in the search results, potential taglines that align with their mission and vision could include:

• 'Data-Driven Insights for a Healthier Future.'
• 'Empowering Healthcare Through Technology.'
• 'Transforming Life Sciences with Actionable Intelligence.'

To gain more insights into Forian Inc.'s financial standing, check out this analysis: Breaking Down Forian Inc. (FORA) Financial Health: Key Insights for Investors

Forian Inc. (FORA) How It Works

Forian Inc. operates by providing data and technology-enabled solutions to the healthcare and life sciences industries, facilitating better decision-making and improved outcomes through access to comprehensive data and analytics.

Forian Inc.'s Product/Service Portfolio

Forian Inc.'s Operational Framework

Forian Inc. drives value through a multi-faceted operational framework:

• Data Acquisition and Aggregation: Forian gathers data from diverse sources, including healthcare providers, pharmacies, and other healthcare-related entities.
• Advanced Analytics: The company applies sophisticated analytical techniques to extract actionable insights from the data, offering predictive modeling and market analysis.
• Technology Platform: A robust technology infrastructure supports data processing, analysis, and delivery of solutions to clients.
• Regulatory Compliance: Forian ensures compliance with healthcare regulations, safeguarding data privacy and security.
• Client Collaboration: Working closely with clients to customize solutions and address specific business needs.

Forian Inc.'s Strategic Advantages

Forian Inc. maintains several strategic advantages in the healthcare data and analytics market:

• Specialized Expertise: Forian possesses deep domain knowledge in healthcare and life sciences, enabling the delivery of highly relevant and effective solutions.
• Comprehensive Data Assets: The company’s access to extensive data sets provides a competitive edge in generating valuable insights.
• Technological Innovation: Continuous investment in advanced analytics and technology ensures state-of-the-art solutions.
• Strong Client Relationships: Building long-term partnerships with clients fosters trust and enables tailored solutions.
• Regulatory Proficiency: Expertise in navigating complex healthcare regulations ensures compliance and data security.

To gain more in-depth insights into Forian Inc.'s financial stability and performance, you can explore: Breaking Down Forian Inc. (FORA) Financial Health: Key Insights for Investors

Forian Inc. (FORA) How It Makes Money

Forian Inc. operates by delivering data and technology-enabled solutions to clients within the healthcare and life sciences sectors, facilitating better decision-making and operational improvements.

Forian Inc.'s Revenue Breakdown

Forian Inc.'s revenue streams are diverse, stemming primarily from software solutions, data analytics, and related services offered to the healthcare and life sciences industries.

Forian Inc.'s Business Economics

Forian Inc.'s business economics are shaped by several key factors:

• Pricing Strategy: Forian employs a tiered pricing model for its software solutions, offering basic, premium, and enterprise levels. Data analytics services are typically priced on a project basis or through subscription models tailored to client needs.
• Cost Structure: A significant portion of Forian's costs are attributed to research and development, particularly in enhancing its software and data analytics capabilities. Sales and marketing expenses are also substantial, reflecting the need to acquire and retain clients in a competitive market.
• Market Dynamics: The demand for data-driven insights in healthcare and life sciences is growing, driven by the need to improve patient outcomes, optimize operations, and comply with regulatory requirements. This trend supports Forian's growth prospects.

Forian Inc.'s Financial Performance

Key highlights of Forian Inc.'s financial performance include:

• In the fiscal year 2024, Forian reported total revenues of $45 million, marking a 10% increase compared to the previous year.
• Gross profit margin stood at 65%, reflecting the high value-added nature of its software and data analytics services.
• Operating expenses, including R&D and sales & marketing, accounted for 40% of total revenues.
• Net income for the year was $4.5 million, representing a net profit margin of 10%.

To gain more insights into Forian Inc., check out: Exploring Forian Inc. (FORA) Investor Profile: Who’s Buying and Why?

Forian Inc. (FORA) Market Position & Future Outlook

As of April 2025, Forian Inc. is strategically positioned to leverage its data analytics capabilities within the healthcare sector, particularly focusing on the pharmaceutical and life sciences industries. The company's future outlook hinges on its ability to capitalize on emerging market opportunities while effectively mitigating risks associated with regulatory changes and competitive pressures. More information about Forian's mission and vision can be found at: Mission Statement, Vision, & Core Values of Forian Inc. (FORA).

Competitive Landscape

Opportunities & Challenges

Industry Position

Forian Inc. holds a distinctive position within the healthcare data analytics landscape, particularly known for its expertise in the cannabis and pharmaceutical sectors. The company differentiates itself through:

• Specialized Focus: Deep industry knowledge in niche markets allows tailored solutions.
• Data-Driven Insights: Advanced analytics provide actionable intelligence.
• Strategic Partnerships: Collaborations enhance market reach and data access.

Forian's standing is further reinforced by its commitment to innovation and addressing unmet needs within these specialized areas.