FORA · As filed with the SEC

Forian balance sheet, by fiscal year

The statement as Forian presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.

CONSOLIDATED BALANCE SHEETS · USD

USD	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019
Current assets:
Cash and cash equivalents	12,903,760	4,590,661	6,042,986	3,319,898	18,663,805	665,463	494
Marketable securities	18,647,229	30,492,088	42,296,589	17,396,487	12,399,361	11,501,844	149,767
Accounts receivable, net	5,643,100	3,971,702	2,572,931	2,547,538	1,947,540	22,996	0
Contract assets	—	—	—	—	1,056,891	196,701	0
Proceeds receivable from sale of discontinued operations, net	—	0	1,645,954	—	—	—	—
Contract assets, net	2,439,223	2,586,712	1,126,713	2,252,958	—	—	—
Prepaid expenses	990,910	1,111,234	1,077,233	966,809	1,017,927	120,979	25,365
Other current assets	1,932,535	1,707,694	2,515,509	432,338	900,242	—	—
Current assets of discontinued operations	—	—	0	—	—	—	—
Total current assets	42,556,757	44,460,091	57,277,915	26,916,028	35,985,766	12,507,983	175,626
Property and equipment, net	29,428	46,652	76,085	2,575,406	1,531,959	46,358	3,419
Intangible assets, net	—	—	—	6,775,841	9,051,184	—	—
Goodwill	—	—	—	9,099,372	9,099,372	—	—
Intangible assets, net	1,001,546	1,192,044	—	—	—	—	—
Right of use assets, net	12,137	35,560	10,664	636,196	859,637	—	—
Deposits and other assets	531,027	1,435,496	1,523,948	255,324	314,443	—	—
Non-current assets of discontinued operations	—	—	0	—	—	—	—
Total assets	44,130,895	47,169,843	58,888,612	46,258,167	56,842,361	12,554,341	179,045
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	3,833,522	982,665	161,590	575,065	1,125,067	647,601	6,400
Accrued expenses and other current liabilities	5,255,295	4,413,267	4,252,257	4,428,769	4,068,109	480,741	269,376
Short-term operating lease liabilities	12,137	23,423	10,664	265,489	247,325	—	—
Notes payable	—	—	—	0	13,122	0	184,300
Warrant liability	—	0	563	4,547	369,234	—	—
Deferred revenues	—	—	—	—	976,268	158,884	0
Deferred revenues	5,251,193	4,487,686	2,413,551	3,078,705	—	—	—
Current liabilities of discontinued operations	—	—	0	—	—	—	—
Convertible notes payable, net of debt issuance costs (Note 11) ($0 and $6,000,000 in principal as of December 31, 2025 and December 31, 2024 was held by a related party. Refer to Note 14)	0	6,697,649	—	—	—	—	—
Total current liabilities	14,352,147	16,604,690	6,838,625	8,352,575	6,799,125	1,287,226	460,076
Long-term liabilities:
Long-term operating lease liabilities	—	—	—	376,569	611,523	—	—
Other long-term liabilities	0	512,137	1,000,000	—	—	—	—
Convertible notes payable, net of debt issuance costs (Note 13) ($6,000,000 in principal is held by a related party. Refer to Note 16)	—	0	24,870,181	25,106,547	24,260,448	—	—
Non-current liabilities of discontinued operations	—	—	0	—	—	—	—
Total long-term liabilities	0	512,137	25,870,181	25,483,116	24,871,971	—	—
Total liabilities	14,352,147	17,116,827	32,708,806	33,835,691	31,671,096	—	—
Stockholders' equity:
Preferred Stock; par value $0.001; 5,000,000 Shares authorized; 0 issued and outstanding as of December 31, 2025 and December 31, 2024	0	0	0	0	0	0	0
Common Stock; par value $0.001; 95,000,000 Shares authorized; 31,072,251 issued and outstanding as of December 31, 2025 and 31,010,788 issued and outstanding as of December 31, 2024	31,073	31,011	30,920	32,251	31,773	21,233	7,713
Additional paid-in capital	82,536,827	79,937,115	73,834,300	71,182,326	57,959,622	17,514,907	1,000,098
Accumulated deficit	(52,789,152)	(49,915,110)	(47,685,414)	(58,792,101)	(32,820,130)	(6,269,025)	(1,288,842)
Total stockholders’ equity	29,778,748	30,053,016	26,179,806	12,422,476	25,171,265	11,267,115	(281,031)
Total liabilities and stockholders’ equity	44,130,895	47,169,843	58,888,612	46,258,167	56,842,361	12,554,341	179,045

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.