Forian Inc. (NASDAQ:FORA) Q4 2022 Earnings Call Transcript

Max Wygod: Sure. This is Max again, Eric. I think the easiest way to look at it, what’s affected by kind of macroeconomic condition is really the size of the companies. So, where we have channel partners and other types of companies that serve eventual life science companies that are generally smaller. They’ve been affected more by what’s been happening than the larger medtech or pharma industries. We haven’t seen a slowdown in the CRO industry particularly, but it’s really around either technical companies or other healthcare companies that are serving the bigger market kind of similar to how that technical — tech companies are getting impacted by kind of the trends outside of healthcare.

Eric Martinuzzi: Okay. And then, I think in your agreement with the BioTrack purchaser, you do continue to have access to the BioTrack data. Is that correct?

Max Wygod: That’s correct. We have access to the cannabinoid-based data, to kind of continue on our initial thesis of using it to evaluate outcomes on across the patient journey.

Eric Martinuzzi: Okay. And then one of the numbers that I pay attention to in your financials is this contractually — the committed kind of backlog that you talked about, I think you said in the — for Q4 that committed contracted backlog was $38.8 million. Can you compare that to what it was a year ago for me?

Michael Vesey: Yes, Eric. It was about $20 million a year ago.

Eric Martinuzzi: Okay. And then, the portion that’s less than 12 months versus over 12 months of that, the $38.8 million, can you put that in the two buckets?

Michael Vesey: Yes, sure, I can. So, the — of the $38.8 million, about $16.6 million we’ll be recognizing in the next 12 months.

Eric Martinuzzi: Okay. All right. Okay. That covers my questions. Congrats on the quarter, and good luck on the new more focused business.

Michael Vesey: Thank you.

Max Wygod: Thank you, Eric.

Operator: Thank you. I don’t see any further questions in the queue. Ladies and gentlemen, with that, we conclude our program and Q&A session for today. Thank you for participating, and you may now disconnect.