Company: FORA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001140361-25-042313
Chunk: 37

Company: Forian Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 37
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 Review and Acquisition Related Expenses

   Strategic review and acquisition related expenses are primarily related to professional fees incurred related to an unsolicited offer to take the Company private in 2025 and professional fees incurred for strategic review of the Company’s operations and acquisition of Kyber in 2024.

   Interest and Investment Income

   Interest and investment income for the nine months ended September 30, 2025 were $1,012,818, which represented a decrease of $938,994 compared to interest and investment income of $1,951,812 for the nine months ended September 30, 2024. The decrease is primarily due to lower investment in marketable securities resulting from the use of funds to retire convertible notes.

   Interest Expense

   Interest expense nine months ended September 30, 2025 were $142,351, which represented a decrease of $445,333 compared to interest expense of $587,684 nine months ended September 30, 2024. The decrease is due to the impact of the redemption of the Company’s convertible notes.

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   Non-GAAP Financial Measures

   In this Quarterly Report on Form 10-Q the Company has provided a non-GAAP measure, which is defined as financial information that has not been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The non-GAAP financial measure provided herein is earnings before interest, taxes, non-cash and other items (“Adjusted EBITDA”), which should be viewed as supplemental to, and not as an alternative for, net loss calculated in accordance with U.S. GAAP (referred to below as “net loss”.

   Adjusted EBITDA is used by management as an additional measure of the Company’s performance for purposes of business decision-making, including developing budgets, managing expenditures and evaluating potential acquisitions or divestitures. Period-to-period comparisons of Adjusted EBITDA help management identify additional trends in the Company’s financial results that may not be shown solely by period-to-period comparisons of net loss. In addition, management may use Adjusted EBITDA in the incentive compensation programs applicable to some employees in order to evaluate the Company’s performance. Management recognizes that Adjusted EBITDA has inherent limitations because of the excluded items, particularly those items that are recurring in nature. In order to compensate for those limitations, management also reviews the specific items that are excluded from Adjusted EBITDA, but included in net loss, as well as trends in those items contained