FORRESTER RESEARCH, INC.FORREarnings & Financial Report
Forrester Research, Inc. is a research and advisory firm working in research, consulting and events. Forrester’s clients include large global business, technology and consumer enterprises. The firm is headquartered in Cambridge, MA.
Revenue
$89.9M
Gross Profit
$50.3M
Operating Profit
$-87.6M
Net Profit
$-87.3M
Gross Margin
55.9%
Operating Margin
-97.5%
Net Margin
-97.1%
YoY Growth
-10.2%
EPS
$-4.62
Financial Flow
FORRESTER RESEARCH, INC. Q1 2025 Financial Summary
FORRESTER RESEARCH, INC. reported revenue of $89.9M (down 10.2% YoY) for Q1 2025, with a net profit of $-87.3M (down 1207.8% YoY) (-97.1% margin). Cost of goods sold was $39.6M, operating expenses totaled $137.9M.
Key Financial Metrics
| Total Revenue | $89.9M |
|---|---|
| Net Profit | $-87.3M |
| Gross Margin | 55.9% |
| Operating Margin | -97.5% |
| Report Period | Q1 2025 |
Revenue Breakdown
FORRESTER RESEARCH, INC. Q1 2025 revenue of $89.9M breaks down across 4 segments, led by Research Services at $68.4M (76.1% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Research Services | $68.4M | 76.1% |
| Consulting Segment | $16.4M | 18.2% |
| Professional Services | $2.7M | 3.0% |
| Billable Expenses | $1.4M | 1.5% |
FORRESTER RESEARCH, INC. Revenue by Segment — Quarterly Trend
FORRESTER RESEARCH, INC. revenue by segment across the last 4 reported quarters, showing how each business line (such as Research Services and Consulting Segment) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Research Services | — | $72.7M | — | $68.4M |
| Consulting Segment | $16.2M | $16.0M | $17.7M | $16.4M |
| Professional Services | $1.4M | $1.1M | $1.7M | $2.7M |
| Billable Expenses | $1.5M | — | — | $1.4M |
FORRESTER RESEARCH, INC. Annual Revenue by Year
FORRESTER RESEARCH, INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $396.9M).
| Year | Annual Revenue |
|---|---|
| 2025 | $396.9M |
| 2024 | $432.5M |
| 2023 | $480.8M |
| 2022 | $537.8M |
FORRESTER RESEARCH, INC. Quarterly Revenue & Net Profit History
FORRESTER RESEARCH, INC. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $101.1M | -6.5% | $-33.9M | -33.5% |
| Q3 2025 | $94.3M | -8.0% | $-2.1M | -2.3% |
| Q2 2025 | $111.7M | -8.3% | $3.9M | 3.5% |
| Q1 2025 | $89.9M | -10.2% | $-87.3M | -97.1% |
| Q4 2024 | $108.0M | -8.5% | $432.0K | 0.4% |
| Q3 2024 | $102.5M | -9.6% | $-5.8M | -5.7% |
| Q2 2024 | $121.8M | -10.2% | $6.3M | 5.2% |
| Q1 2024 | $100.1M | -12.0% | $-6.7M | -6.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $100.1M | $121.8M | $102.5M | $108.0M | $89.9M | $111.7M | $94.3M | $101.1M |
| YoY Growth | -12.0% | -10.2% | -9.6% | -8.5% | -10.2% | -8.3% | -8.0% | -6.5% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $555.7M | $524.2M | $505.3M | $503.9M | $439.8M | $436.0M | $414.2M | $404.0M |
| Liabilities | $324.7M | $287.1M | $270.9M | $274.3M | $292.4M | $276.5M | $256.5M | $277.5M |
| Equity | $230.9M | $237.1M | $234.3M | $229.5M | $147.4M | $159.5M | $157.7M | $126.5M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $611000 | $-2.9M | $264000 | $-1.8M | $26.7M | $-3.6M | $1.2M | $-3.2M |