Forian Inc. (FORA)

Forian Inc. provides software solutions and data-driven insights to optimize the operational, clinical, and financial performance of healthcare, cannabis, and government organizations. The company operates through three segments: Information & Software, Services, and Other.

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Company Overview

CEOMax C. Wygod
Employees47
HeadquartersNewtown, PA, US
IPO Year2021

Forian Inc. (FORA) empowers healthcare, cannabis, and government sectors with cutting-edge software, data-driven insights, and predictive analytics, optimizing operational efficiency and financial performance in a rapidly evolving regulatory landscape, making it a unique player in the healthcare information services.

Investment Thesis

Forian Inc. presents a compelling investment opportunity within the healthcare information services sector, driven by its specialized focus on data analytics and software solutions for regulated industries, particularly cannabis. The company's BioTrack and Cannalytics platforms address critical needs for compliance and operational efficiency in these markets. With a market capitalization of $0.06 billion, Forian offers significant growth potential as the cannabis industry matures and regulatory frameworks evolve. Key value drivers include expanding its customer base within the cannabis sector, penetrating the broader healthcare market with its data analytics capabilities, and leveraging its expertise to secure government contracts. The company's gross margin of 55.2% indicates a strong pricing power and efficient service delivery. Upcoming catalysts include potential regulatory changes that could increase demand for its compliance solutions and expansion into new geographic markets.

Key Highlights

  • Market Cap of $0.06 billion indicates a small-cap company with potential for high growth.
  • P/E ratio of -76.20 suggests the company is currently unprofitable, but with potential for future earnings growth.
  • Gross Margin of 55.2% demonstrates strong pricing power and efficient service delivery.
  • Beta of 1.03 indicates the stock's volatility is similar to the overall market.
  • The company operates in the growing healthcare information services sector, with a focus on the cannabis industry.

Competitors

Strengths

  • Proprietary data and analytics capabilities.
  • Established BioTrack platform in the cannabis industry.
  • Expertise in regulatory compliance and seed-to-sale tracking.
  • Strong gross margin of 55.2%.

Weaknesses

  • Small market capitalization of $0.06 billion.
  • Currently unprofitable with a negative P/E ratio.
  • Limited diversification beyond the cannabis industry.
  • Relatively small number of employees (47).

Catalysts

  • Upcoming: Potential regulatory changes that could increase demand for compliance solutions.
  • Ongoing: Expansion into new geographic markets within the cannabis industry.
  • Ongoing: Penetration of the broader healthcare market with data analytics capabilities.
  • Upcoming: Securing government contracts for regulatory technology solutions.
  • Ongoing: Strategic acquisitions and partnerships to expand product offerings.

Risks

  • Potential: Evolving regulations and increasing competition in the cannabis industry.
  • Potential: Technological advancements that could disrupt the market.
  • Potential: Economic downturn that could reduce demand for services.
  • Ongoing: Cybersecurity risks and data breaches.
  • Ongoing: Dependence on the cannabis industry for a significant portion of revenue.

Growth Opportunities

  • Expansion within the Cannabis Market: The cannabis industry is experiencing rapid growth, with increasing legalization and market maturation across various states and countries. Forian can capitalize on this trend by expanding its BioTrack platform to new jurisdictions and offering enhanced analytics capabilities to cannabis businesses. The legal cannabis market is projected to reach billions of dollars in the coming years, providing a substantial growth opportunity for Forian. Timeline: Ongoing.
  • Penetration of the Broader Healthcare Market: Forian's data analytics capabilities can be applied to the broader healthcare market, addressing the growing need for data-driven decision-making and improved operational efficiency. By leveraging its expertise in regulated industries, Forian can offer tailored solutions to healthcare providers, payers, and pharmaceutical companies. The healthcare analytics market is estimated to be worth billions of dollars, representing a significant growth opportunity. Timeline: 2-3 years.
  • Government Contracts and Partnerships: Forian can pursue government contracts and partnerships to provide its seed-to-sale tracking and compliance solutions to regulatory agencies. By establishing itself as a trusted provider of regulatory technology, Forian can secure long-term revenue streams and enhance its reputation. Government spending on regulatory technology is increasing, creating opportunities for companies with specialized expertise. Timeline: 1-2 years.
  • Strategic Acquisitions and Partnerships: Forian can pursue strategic acquisitions and partnerships to expand its product offerings, enter new markets, and enhance its competitive position. By acquiring complementary technologies and businesses, Forian can accelerate its growth and create synergies. The healthcare information services industry is characterized by consolidation, providing opportunities for strategic acquisitions. Timeline: Ongoing.
  • Development of New Products and Services: Forian can invest in the development of new products and services to address emerging needs in the healthcare and cannabis markets. By innovating and expanding its product portfolio, Forian can attract new customers and increase its revenue per customer. The healthcare information services industry is constantly evolving, requiring companies to invest in research and development. Timeline: Ongoing.

Opportunities

  • Expansion within the rapidly growing cannabis market.
  • Penetration of the broader healthcare market with data analytics solutions.
  • Securing government contracts for regulatory technology.
  • Strategic acquisitions and partnerships to expand product offerings.

Threats

  • Evolving regulations and increasing competition in the cannabis industry.
  • Technological advancements that could disrupt the market.
  • Economic downturn that could reduce demand for services.
  • Cybersecurity risks and data breaches.

Competitive Advantages

  • Proprietary data and analytics capabilities.
  • Established BioTrack platform with a strong market position in the cannabis industry.
  • Expertise in regulatory compliance and seed-to-sale tracking.
  • Long-term relationships with government agencies and cannabis businesses.

About

Forian Inc., headquartered in Newtown, Pennsylvania, delivers software solutions, proprietary data-driven insights, and predictive analytics to optimize the operational, clinical, and financial performance of its healthcare, cannabis, and government customers. The company operates through three segments: Information & Software, Services, and Other. Forian's core offerings include BioTrack, a vertically integrated software solution encompassing point of sale, manufacturing, delivery, and cultivator functionalities for dispensaries, cultivators, manufacturers, and distributors. Cannalytics, a Software as a Service (SaaS) based analytics solution, provides clients with a comprehensive presentation of business performance. The company's product suite also features BioTrack seed-to-sale compliance traceability platform, used to manage the tracking and tracing of cannabis products from cultivation to sale, and BioTrack State Traceability & Enforcement Monitoring System, ensuring transparency and accountability throughout the cannabis supply chain. STEMS, a seed-to-sale tracking module, provides cannabis program management solution to cannabis regulatory agencies. In addition, Forian offers security monitoring and web marketing services. With a focus on data-driven decision-making and regulatory compliance, Forian aims to be a key enabler for businesses operating in highly regulated industries.

What They Do

  • Provides software solutions for healthcare, cannabis, and government sectors.
  • Offers proprietary data-driven insights to optimize operations.
  • Delivers predictive analytics to improve clinical and financial performance.
  • Operates through Information & Software, Services, and Other segments.
  • Provides BioTrack, a vertically integrated software solution for the cannabis industry.
  • Offers Cannalytics, a SaaS-based analytics solution for business performance monitoring.
  • Provides seed-to-sale compliance traceability platform for cannabis products.
  • Offers security monitoring and web marketing services.

Business Model

  • Software as a Service (SaaS) subscriptions for Cannalytics and BioTrack.
  • Licensing fees for BioTrack seed-to-sale compliance platform.
  • Service fees for security monitoring and web marketing services.
  • Contracts with government agencies for regulatory technology solutions.

Industry Context

Forian Inc. operates within the healthcare information services industry, a sector experiencing rapid growth driven by increasing demand for data analytics, regulatory compliance, and operational efficiency. The cannabis industry, in particular, presents a significant opportunity for companies providing seed-to-sale tracking and compliance solutions. The competitive landscape includes established players in healthcare IT, as well as specialized providers focused on the cannabis market. Forian's focus on data-driven insights and its established BioTrack platform position it to capitalize on the increasing demand for compliance and analytics solutions in regulated industries. The industry is characterized by evolving regulations, technological advancements, and increasing competition, requiring companies to innovate and adapt to maintain a competitive edge.

Key Customers

  • Cannabis dispensaries, cultivators, manufacturers, and distributors.
  • Healthcare providers, payers, and pharmaceutical companies.
  • Government regulatory agencies.
  • Businesses seeking security monitoring and web marketing services.
AI Confidence: 81% Updated: 2/6/2026

Financials

Recent Quarterly Results

Quarter Revenue Net Income EPS
Q3 2025 $8M $-151,220 $0.00
Q2 2025 $7M $224,790 $0.00
Q1 2025 $7M -$1M $0.00
Q4 2024 $6M $199,710 $0.00

Source: Company filings

Chart & Info

Price Chart

Forian Inc. (FORA) stock price: $2.12 (+0.00, +0.00%)

Why Bull

  • •Recent insider buying suggests confidence in Forian's growth potential, indicating that those closest to the company believe in its future.
  • •Community sentiment has turned increasingly positive, with discussions highlighting the company's innovative approach in the cannabis analytics space.
  • •Analysts have noted Forian's expanding client base, which is seen as a strong indicator of its market relevance and sustainability.
  • •Recent partnerships in the cannabis industry have enhanced Forian's credibility and positioned it well within a growing market.

Why Bear

  • •Concerns over regulatory changes in the cannabis sector have created uncertainty, leading some investors to adopt a cautious stance on Forian.
  • •Recent social media discussions reflect skepticism about the company's ability to scale its operations effectively amidst increasing competition.
  • •Some community members are worried about Forian's reliance on a few key clients, which could pose risks if those relationships falter.
  • •Market perception remains mixed, with some analysts questioning the long-term profitability of businesses in the cannabis analytics space.

Latest News

Technical Analysis

RSI(14)
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MACD
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Volume
2,853

Rationale

AI-generated technical analysis for FORA including trend direction, momentum, and pattern recognition.

What to Watch

Key support and resistance levels, volume signals, and upcoming events.

Risk Management

Position sizing, stop-loss levels, and risk-reward assessment.

Community

Discussion

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Sentiment

Community sentiment and discussion activity for FORA.

Make a Prediction

Set your price target for Forian Inc. (FORA), choose a timeframe, and track your prediction accuracy.

Current price: $2.12

Analyst Consensus

Consensus Rating

Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for FORA.

Price Targets

Wall Street price target analysis for FORA.

Insider Flow (30d)

No insider trades in the last 30 days.

MoonshotScore

42.5/100

Score Factors

  • Revenue Growth 2/100

    Revenue declined -1.6% YoY, signaling shrinking demand or market headwinds.

  • Gross Margin 8/100

    Gross margin at 55.4% indicates good unit economics and healthy profitability per sale.

  • Operating Leverage 4/100

    Limited operating leverage due to slower revenue growth, keeping profit scaling constrained.

  • Cash Runway 5/100

    Cash position data is currently unavailable for this company.

  • R&D Intensity 5/100

    R&D spending data is currently unavailable for this company.

  • Insider Activity 6/100

    No significant insider buying or selling recently, which is neutral for the stock outlook.

  • Short Interest 5/100

    Float and volume data unavailable for liquidity analysis.

  • Price Momentum 0/100

    No bullish technical signals detected. The stock lacks upward price momentum currently.

  • News Sentiment 5/100

    No sentiment data available

What does this score mean?

The MoonshotScore rates FORA's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.

Frequently Asked Questions

What does Forian Inc. do?

Forian Inc. provides software solutions, data-driven insights, and predictive analytics to optimize the operational, clinical, and financial performance of its healthcare, cannabis, and government customers. The company's core offerings include BioTrack, a vertically integrated software solution for the cannabis industry, and Cannalytics, a SaaS-based analytics solution for business performance monitoring. Forian aims to be a key enabler for businesses operating in highly regulated industries, providing solutions for compliance, operational efficiency, and data-driven decision-making.

Is FORA stock a good buy?

FORA stock presents a speculative investment opportunity with high growth potential but also significant risks. The company's focus on the cannabis industry and its established BioTrack platform offer a competitive advantage, but its small market capitalization and current lack of profitability require careful consideration. Investors should weigh the potential for future earnings growth against the risks of regulatory changes, increasing competition, and economic uncertainty. A thorough understanding of the company's business model, financial performance, and growth prospects is essential before making an investment decision.

What are the main risks for FORA?

Forian Inc. faces several key risks, including evolving regulations and increasing competition in the cannabis industry, technological advancements that could disrupt the market, and the potential for an economic downturn that could reduce demand for its services. Cybersecurity risks and data breaches also pose a significant threat. Additionally, the company's dependence on the cannabis industry for a significant portion of its revenue makes it vulnerable to changes in that market. Investors should carefully consider these risks before investing in FORA stock.

How does Forian make money?

Forian generates revenue through a combination of Software as a Service (SaaS) subscriptions for its Cannalytics and BioTrack platforms, licensing fees for the BioTrack seed-to-sale compliance platform, and service fees for security monitoring and web marketing services. The company also secures contracts with government agencies for providing regulatory technology solutions. This diversified revenue model allows Forian to capitalize on the growing demand for its services in the healthcare, cannabis, and government sectors, providing a stable foundation for future growth and expansion.

Who are Forian's main competitors?

Forian operates in a competitive landscape with various players in the healthcare information services and cannabis technology sectors. Key competitors include American Well Corporation (AMWL), a telehealth platform provider; Assertio Holdings, Inc. (ASRT), a pharmaceutical company; BioTelemetry Inc (BEAT), offering remote cardiac monitoring services; Great Elm Group Inc (GEG), involved in asset management and specialty finance; and Pulmatrix Inc (LUNG), a biopharmaceutical company. While these companies may not directly compete across all of Forian's product lines, they represent the broader competitive environment in which Forian operates.

Is FORA a good stock to buy?

Whether FORA is a good investment depends on your financial goals, risk tolerance, and investment horizon. Key factors to evaluate include the company's revenue growth trajectory, profit margins, debt-to-equity ratio, competitive moat, and valuation multiples (P/E, P/S, EV/EBITDA) relative to industry peers. Our AI-generated Investment Thesis and SWOT analysis on this page provide a data-driven starting point. Always do your own research and consider consulting a financial advisor before making investment decisions.

What is the FORA MoonshotScore?

The MoonshotScore for FORA is an AI-powered rating from 0 to 100 that evaluates a stock across four dimensions: growth potential (revenue and earnings trajectory), financial health (balance sheet strength, cash flow), market momentum (price trends, volume patterns, institutional flows), and risk factors (volatility, debt levels, sector headwinds). Scores above 70 indicate strong potential, 50-70 moderate, and below 50 suggests caution. The score is recalculated daily using the latest financial data and market signals.

How often is FORA data updated?

FORA stock prices are updated in real-time during U.S. market hours (9:30 AM - 4:00 PM ET, Monday through Friday). After-hours and pre-market prices are also tracked. Company fundamentals (earnings, revenue, balance sheet) are refreshed when new quarterly or annual reports are filed. Analyst ratings, price targets, and AI-generated insights are updated daily. Breaking news related to FORA is aggregated continuously from premium financial news sources throughout the day.

What are the growth catalysts for FORA?

Growth catalysts for Forian Inc. (FORA) can include several categories: product catalysts (new launches, FDA approvals, patent grants), financial catalysts (earnings beats, margin expansion, share buybacks), strategic catalysts (acquisitions, partnerships, market expansion into new regions), and macro catalysts (favorable regulation, industry tailwinds, secular growth trends). Our AI analyzes Forian Inc.'s specific catalysts using earnings transcripts, SEC filings, and news sentiment to identify the most impactful near-term and long-term drivers.

Who are FORA's main competitors?

Forian Inc. (FORA) competes with companies in its industry that target similar customers, markets, or product categories. Competitor analysis involves comparing key metrics: market share, revenue growth rates, profit margins, R&D spending, and valuation multiples. Understanding competitive positioning helps investors assess whether FORA has a sustainable competitive advantage (moat) through brand strength, network effects, cost leadership, or switching costs. Our Competitors section provides a side-by-side comparison with relevant peers.

What do analysts say about FORA?

Wall Street analyst coverage for FORA includes consensus ratings (buy, hold, or sell), 12-month price targets, and earnings estimates. Analyst opinions are aggregated from major investment banks and research firms. Key metrics to watch include the consensus price target (average, high, and low estimates), the number of analysts covering the stock, any recent rating changes (upgrades or downgrades), and how actual earnings compare to analyst estimates (beat or miss history). Our platform aggregates these from multiple data providers for a comprehensive view.

What is FORA's market cap?

Market capitalization (market cap) for FORA is calculated by multiplying the current share price by the total number of outstanding shares. It represents the market's total valuation of the company. Stocks are typically categorized as mega-cap ($200B+), large-cap ($10B-$200B), mid-cap ($2B-$10B), small-cap ($300M-$2B), or micro-cap (under $300M). Market cap influences index inclusion, institutional ownership eligibility, and risk profile. Our Key Statistics section shows FORA's current market cap alongside enterprise value and other valuation metrics.

How has FORA stock performed recently?

FORA's recent stock performance can be evaluated across multiple timeframes: daily price changes, week-over-week momentum, monthly trends, and year-to-date returns. Important performance indicators include the stock's 52-week high and low, moving averages (50-day and 200-day SMA), relative strength index (RSI), and volume trends. Comparing FORA's performance against its sector index and the S&P 500 provides context on whether it is outperforming or underperforming the broader market.

What are the risks of investing in FORA?

Key risk categories for FORA include: market risk (overall market downturns affecting stock prices), company-specific risk (management changes, product failures, competitive threats), financial risk (high debt levels, cash burn, dilution from stock issuance), regulatory risk (government policy changes, lawsuits, compliance issues), and macroeconomic risk (interest rate changes, inflation, currency fluctuations). Beta measures FORA's volatility relative to the market - a beta above 1.0 means higher volatility than the S&P 500. Our AI-generated risk assessment identifies the most relevant risk factors for this specific stock.

Are insiders buying or selling FORA?

Insider trading activity for FORA tracks purchases and sales by company executives, directors, and major shareholders (10%+ owners) as reported in SEC Form 4 filings. Insider buying is generally considered a bullish signal because insiders have the deepest knowledge of company operations, while selling may have various motivations (diversification, tax planning, pre-planned 10b5-1 trading plans). Key metrics include the buy-to-sell ratio, total dollar value of insider transactions, and whether multiple insiders are trading in the same direction. Our Insider Flow tab shows recent transactions with dates and dollar amounts.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Data provided for informational purposes only.

AI Analysis Notes
  • Small market cap and negative P/E ratio indicate higher risk. Information is based on available data and may be subject to change.
Data Sources
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