Forian ( (FORA) ) has released a notification of late filing.
Forian Inc. has announced a delay in filing its Form 10-K (Yearly Report) for the financial period ending December 31, 2024. The primary reason for the delay is the improper recognition of revenue related to a limited number of contracts, which was identified during the audit of the 2024 financial statements. This issue requires a restatement of previously reported financial statements to align with ASC 606 standards, impacting revenue and net income figures since 2021. The company expects to file the delayed report within the 15-day extension period allowed by the SEC. While the restatement is expected to increase previously reported revenues and net income, the exact figures will only be known upon the filing of the Form 10-K. Forian is actively working to resolve the issue, with Executive Vice President and General Counsel Edward Spaniel, Jr. signing off on the notification.
More about Forian
YTD Price Performance: -2.91%
Average Trading Volume: 26,191
Technical Sentiment Signal: Buy
Current Market Cap: $62.03M
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