Company: FORA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001140361-25-042313
Chunk: 36

Company: Forian Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 36
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 30, 2024. The increase is primarily due to the impact of the acquisition of Kyber and organic growth in sales of the Company’s information products.

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   Cost of Revenues

   Cost of revenues for the nine months ended September 30, 2025, was $10,113,352, which represented an increase of $5,200,157 compared to cost of revenues of $4,913,195 for the nine months ended September 30, 2024. Cost of revenues increased primarily due to the impact of the Kyber acquisition and higher information licensing and processing expenses. As a result, gross profit as a percentage of revenues decreased to 55% for the nine months ended September 30, 2025, compared to 66% for the same period in 2024.

   Research and Development

   Research and development expenses for the nine months ended September 30, 2025, were $1,958,140, which represented an increase of $969,088 compared to research and development expenses of $989,052 for the nine months ended September 30, 2024. The increase is primarily due to the impact of the Kyber acquisition.

   Sales and Marketing

   Sales and marketing expenses for the nine months ended September 30, 2025, were $4,339,785, which represented an increase of $1,310,002 compared to sales and marketing expenses of $3,029,783 for the nine months ended September 30, 2024. The increase is due to the impact of the Kyber acquisition and increased salesperson compensation expenses.

   General and Administrative

   General and administrative expenses for the nine months ended September 30, 2025, were $7,369,326, which represented a decrease of $2,002,104 compared to general and administrative expenses of $9,371,430 for the nine months ended September 30, 2024. The decrease is primarily due to lower stock compensation expense.

   Litigation Settlements and Related Expenses

   Litigation settlements and related expenses for the nine months ended September 30, 2025, were $0, which represented a decrease of $1,152,670 compared to litigation settlements and related expenses of $1,152,670 for the nine months ended September 30, 2024. These expenses resulted from the defense and settlement of legacy claims assumed in the Helix merger, net of any insurance recoveries.

   Strategic