Company: FORA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001140361-25-042313
Chunk: 27

Company: Forian Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 27
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 and as such has not recognized a “right of use” asset or lease liability for this short-term lease.

   The Company’s lease agreements generally do not provide an implicit borrowing rate; therefore an internal incremental borrowing rate is determined based on information available at lease commencement date for purposes of determining the present value of lease payments.
   
   Supplemental cash flow information and non-cash activity related to leases are as follows:  

     For the Nine Months Ended September 30,     

      2025

      2024

      Cash used in operating leases

     $18,459 
     $17,115 

      ROU assets obtained in exchange for new lease obligations

     $ —  
     $46,876 

  24
  

 ROU lease assets and lease liabilities for the Company’s operating leases were recorded in the condensed consolidated balance sheet as follows:  
                  September 30, 2025      December 31, 2024       Right of use assets, net    $18,097   $35,560                    Short-term operating lease liabilities    $18,097   $23,423      Long-term operating lease liabilities      —     12,137      Total lease liabilities    $18,097   $35,560      Weighted average remaining lease term (in years)     0.75    1.75      Weighted average discount rate     4.8%   4.8%   
  
   Long-term operating lease liabilities are included in other long-term liabilities on the Company’s condensed consolidated balance sheets.
   
   The components of lease expense were as follows for each of the periods presented, which are included in general and administrative expenses in the condensed consolidated statements of operations:  

      For the Three Months Ended September 30,     
      For the Nine Months Ended September 30,     

      2025

      2024

      2025

      2024

      Operating lease expense

     $6,153  
    $6,153 
     $18,459 
     $17,115 

      Short-term lease expense

      5,990  
     8,148 
      17,789 
      23,146 

      Total operating lease costs