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Side-by-side financial comparison of DMC Global Inc. (BOOM) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
DMC Global Inc. is the larger business by last-quarter revenue ($143.5M vs $101.1M, roughly 1.4× FORRESTER RESEARCH, INC.). DMC Global Inc. runs the higher net margin — -7.8% vs -33.5%, a 25.7% gap on every dollar of revenue. On growth, DMC Global Inc. posted the faster year-over-year revenue change (-5.8% vs -6.5%). DMC Global Inc. produced more free cash flow last quarter ($9.6M vs $-4.3M). Over the past eight quarters, FORRESTER RESEARCH, INC.'s revenue compounded faster (0.5% CAGR vs -7.3%).
DMC Mining Services is a mining services contractor founded in 1980 operating in Canada, the United States, Chile, and Mongolia
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.
BOOM vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $101.1M |
| Net Profit | $-11.2M | $-33.9M |
| Gross Margin | 17.1% | 56.7% |
| Operating Margin | -7.8% | -36.6% |
| Net Margin | -7.8% | -33.5% |
| Revenue YoY | -5.8% | -6.5% |
| Net Profit YoY | -3871.6% | -7941.4% |
| EPS (diluted) | $-0.60 | $-1.75 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $143.5M | $101.1M | ||
| Q3 25 | $151.5M | $94.3M | ||
| Q2 25 | $155.5M | $111.7M | ||
| Q1 25 | $159.3M | $89.9M | ||
| Q4 24 | $152.4M | $108.0M | ||
| Q3 24 | $152.4M | $102.5M | ||
| Q2 24 | $171.2M | $121.8M | ||
| Q1 24 | $166.9M | $100.1M |
| Q4 25 | $-11.2M | $-33.9M | ||
| Q3 25 | $-3.1M | $-2.1M | ||
| Q2 25 | $116.0K | $3.9M | ||
| Q1 25 | $677.0K | $-87.3M | ||
| Q4 24 | $296.0K | $432.0K | ||
| Q3 24 | $-101.3M | $-5.8M | ||
| Q2 24 | $4.0M | $6.3M | ||
| Q1 24 | $2.6M | $-6.7M |
| Q4 25 | 17.1% | 56.7% | ||
| Q3 25 | 21.7% | 60.0% | ||
| Q2 25 | 23.6% | 55.5% | ||
| Q1 25 | 25.9% | 55.9% | ||
| Q4 24 | 20.8% | 58.8% | ||
| Q3 24 | 19.8% | 60.5% | ||
| Q2 24 | 27.1% | 57.3% | ||
| Q1 24 | 25.4% | 54.9% |
| Q4 25 | -7.8% | -36.6% | ||
| Q3 25 | 0.4% | 4.7% | ||
| Q2 25 | 2.5% | 6.2% | ||
| Q1 25 | 4.1% | -97.5% | ||
| Q4 24 | -0.5% | -0.5% | ||
| Q3 24 | -97.7% | -0.7% | ||
| Q2 24 | 6.8% | 9.3% | ||
| Q1 24 | 4.0% | -9.3% |
| Q4 25 | -7.8% | -33.5% | ||
| Q3 25 | -2.0% | -2.3% | ||
| Q2 25 | 0.1% | 3.5% | ||
| Q1 25 | 0.4% | -97.1% | ||
| Q4 24 | 0.2% | 0.4% | ||
| Q3 24 | -66.5% | -5.7% | ||
| Q2 24 | 2.3% | 5.2% | ||
| Q1 24 | 1.5% | -6.7% |
| Q4 25 | $-0.60 | $-1.75 | ||
| Q3 25 | $-0.10 | $-0.11 | ||
| Q2 25 | $-0.24 | $0.20 | ||
| Q1 25 | $0.04 | $-4.62 | ||
| Q4 24 | $-0.18 | $0.02 | ||
| Q3 24 | $-8.27 | $-0.30 | ||
| Q2 24 | $0.24 | $0.33 | ||
| Q1 24 | $0.01 | $-0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $31.9M | $63.3M |
| Total DebtLower is stronger | $50.6M | — |
| Stockholders' EquityBook value | $242.1M | $126.5M |
| Total Assets | $635.8M | $404.0M |
| Debt / EquityLower = less leverage | 0.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.9M | $63.3M | ||
| Q3 25 | $26.4M | $65.1M | ||
| Q2 25 | $12.4M | $67.8M | ||
| Q1 25 | $14.7M | $75.6M | ||
| Q4 24 | $14.3M | $56.1M | ||
| Q3 24 | $14.5M | $62.8M | ||
| Q2 24 | $14.6M | $58.9M | ||
| Q1 24 | $20.4M | $61.4M |
| Q4 25 | $50.6M | — | ||
| Q3 25 | $56.5M | — | ||
| Q2 25 | $58.7M | — | ||
| Q1 25 | $72.4M | — | ||
| Q4 24 | $70.8M | — | ||
| Q3 24 | $74.2M | — | ||
| Q2 24 | $84.1M | — | ||
| Q1 24 | $88.0M | — |
| Q4 25 | $242.1M | $126.5M | ||
| Q3 25 | $253.0M | $157.7M | ||
| Q2 25 | $253.9M | $159.5M | ||
| Q1 25 | $253.9M | $147.4M | ||
| Q4 24 | $251.0M | $229.5M | ||
| Q3 24 | $256.5M | $234.3M | ||
| Q2 24 | $416.0M | $237.1M | ||
| Q1 24 | $409.9M | $230.9M |
| Q4 25 | $635.8M | $404.0M | ||
| Q3 25 | $644.1M | $414.2M | ||
| Q2 25 | $645.0M | $436.0M | ||
| Q1 25 | $670.6M | $439.8M | ||
| Q4 24 | $671.3M | $503.9M | ||
| Q3 24 | $702.0M | $505.3M | ||
| Q2 24 | $869.5M | $524.2M | ||
| Q1 24 | $860.0M | $555.7M |
| Q4 25 | 0.21× | — | ||
| Q3 25 | 0.22× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.29× | — | ||
| Q2 24 | 0.20× | — | ||
| Q1 24 | 0.21× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $15.2M | $-3.2M |
| Free Cash FlowOCF − Capex | $9.6M | $-4.3M |
| FCF MarginFCF / Revenue | 6.7% | -4.2% |
| Capex IntensityCapex / Revenue | 3.9% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $37.0M | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.2M | $-3.2M | ||
| Q3 25 | $18.6M | $1.2M | ||
| Q2 25 | $15.2M | $-3.6M | ||
| Q1 25 | $4.5M | $26.7M | ||
| Q4 24 | $11.8M | $-1.8M | ||
| Q3 24 | $19.0M | $264.0K | ||
| Q2 24 | $2.3M | $-2.9M | ||
| Q1 24 | $13.4M | $611.0K |
| Q4 25 | $9.6M | $-4.3M | ||
| Q3 25 | $14.4M | $524.0K | ||
| Q2 25 | $12.3M | $-4.2M | ||
| Q1 25 | $709.0K | $26.1M | ||
| Q4 24 | $6.1M | $-2.5M | ||
| Q3 24 | $12.9M | $-223.0K | ||
| Q2 24 | $-204.0K | $-3.7M | ||
| Q1 24 | $10.5M | $-815.0K |
| Q4 25 | 6.7% | -4.2% | ||
| Q3 25 | 9.5% | 0.6% | ||
| Q2 25 | 7.9% | -3.8% | ||
| Q1 25 | 0.4% | 29.0% | ||
| Q4 24 | 4.0% | -2.3% | ||
| Q3 24 | 8.5% | -0.2% | ||
| Q2 24 | -0.1% | -3.1% | ||
| Q1 24 | 6.3% | -0.8% |
| Q4 25 | 3.9% | 1.1% | ||
| Q3 25 | 2.8% | 0.7% | ||
| Q2 25 | 1.9% | 0.5% | ||
| Q1 25 | 2.4% | 0.7% | ||
| Q4 24 | 3.7% | 0.6% | ||
| Q3 24 | 4.0% | 0.5% | ||
| Q2 24 | 1.5% | 0.7% | ||
| Q1 24 | 1.8% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 131.43× | -0.93× | ||
| Q1 25 | 6.63× | — | ||
| Q4 24 | 39.90× | -4.24× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.58× | -0.46× | ||
| Q1 24 | 5.24× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BOOM
| Dyna Energetics Segment | $68.9M | 48% |
| Other | $57.0M | 40% |
| Nobel Clad Segment | $17.7M | 12% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
