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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $64.6M, roughly 1.6× ESTABLISHMENT LABS HOLDINGS INC.). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs -6.5%). ESTABLISHMENT LABS HOLDINGS INC. produced more free cash flow last quarter ($-2.0M vs $-4.3M). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% CAGR vs 0.5%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
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.
ESTA vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $101.1M |
| Net Profit | — | $-33.9M |
| Gross Margin | 70.5% | 56.7% |
| Operating Margin | -6.1% | -36.6% |
| Net Margin | — | -33.5% |
| Revenue YoY | 45.2% | -6.5% |
| Net Profit YoY | — | -7941.4% |
| EPS (diluted) | $-0.07 | $-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 | $64.6M | $101.1M | ||
| Q3 25 | $53.8M | $94.3M | ||
| Q2 25 | $51.3M | $111.7M | ||
| Q1 25 | $41.4M | $89.9M | ||
| Q4 24 | $44.5M | $108.0M | ||
| Q3 24 | $40.2M | $102.5M | ||
| Q2 24 | $44.1M | $121.8M | ||
| Q1 24 | $37.2M | $100.1M |
| Q4 25 | — | $-33.9M | ||
| Q3 25 | $-11.1M | $-2.1M | ||
| Q2 25 | $-16.6M | $3.9M | ||
| Q1 25 | $-20.7M | $-87.3M | ||
| Q4 24 | — | $432.0K | ||
| Q3 24 | $-16.7M | $-5.8M | ||
| Q2 24 | $-17.2M | $6.3M | ||
| Q1 24 | $-16.2M | $-6.7M |
| Q4 25 | 70.5% | 56.7% | ||
| Q3 25 | 70.1% | 60.0% | ||
| Q2 25 | 68.8% | 55.5% | ||
| Q1 25 | 67.2% | 55.9% | ||
| Q4 24 | 68.5% | 58.8% | ||
| Q3 24 | 63.9% | 60.5% | ||
| Q2 24 | 65.6% | 57.3% | ||
| Q1 24 | 65.6% | 54.9% |
| Q4 25 | -6.1% | -36.6% | ||
| Q3 25 | -7.5% | 4.7% | ||
| Q2 25 | -27.5% | 6.2% | ||
| Q1 25 | -41.0% | -97.5% | ||
| Q4 24 | -41.9% | -0.5% | ||
| Q3 24 | -32.7% | -0.7% | ||
| Q2 24 | -21.2% | 9.3% | ||
| Q1 24 | -23.8% | -9.3% |
| Q4 25 | — | -33.5% | ||
| Q3 25 | -20.7% | -2.3% | ||
| Q2 25 | -32.3% | 3.5% | ||
| Q1 25 | -50.1% | -97.1% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | -41.5% | -5.7% | ||
| Q2 24 | -38.9% | 5.2% | ||
| Q1 24 | -43.6% | -6.7% |
| Q4 25 | $-0.07 | $-1.75 | ||
| Q3 25 | $-0.38 | $-0.11 | ||
| Q2 25 | $-0.57 | $0.20 | ||
| Q1 25 | $-0.70 | $-4.62 | ||
| Q4 24 | $-1.21 | $0.02 | ||
| Q3 24 | $-0.59 | $-0.30 | ||
| Q2 24 | $-0.62 | $0.33 | ||
| Q1 24 | $-0.58 | $-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 | $75.6M | $63.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $23.5M | $126.5M |
| Total Assets | $357.2M | $404.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $63.3M | ||
| Q3 25 | $70.6M | $65.1M | ||
| Q2 25 | $54.6M | $67.8M | ||
| Q1 25 | $69.2M | $75.6M | ||
| Q4 24 | $90.3M | $56.1M | ||
| Q3 24 | — | $62.8M | ||
| Q2 24 | — | $58.9M | ||
| Q1 24 | — | $61.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $23.5M | $126.5M | ||
| Q3 25 | $16.4M | $157.7M | ||
| Q2 25 | $22.8M | $159.5M | ||
| Q1 25 | $38.5M | $147.4M | ||
| Q4 24 | $53.1M | $229.5M | ||
| Q3 24 | $32.7M | $234.3M | ||
| Q2 24 | $45.0M | $237.1M | ||
| Q1 24 | $56.9M | $230.9M |
| Q4 25 | $357.2M | $404.0M | ||
| Q3 25 | $338.9M | $414.2M | ||
| Q2 25 | $329.7M | $436.0M | ||
| Q1 25 | $333.4M | $439.8M | ||
| Q4 24 | $346.8M | $503.9M | ||
| Q3 24 | $282.7M | $505.3M | ||
| Q2 24 | $285.1M | $524.2M | ||
| Q1 24 | $301.8M | $555.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-162.0K | $-3.2M |
| Free Cash FlowOCF − Capex | $-2.0M | $-4.3M |
| FCF MarginFCF / Revenue | -3.1% | -4.2% |
| Capex IntensityCapex / Revenue | 2.8% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-162.0K | $-3.2M | ||
| Q3 25 | $-11.3M | $1.2M | ||
| Q2 25 | $-18.8M | $-3.6M | ||
| Q1 25 | $-20.7M | $26.7M | ||
| Q4 24 | $-20.7M | $-1.8M | ||
| Q3 24 | $-12.5M | $264.0K | ||
| Q2 24 | $-14.2M | $-2.9M | ||
| Q1 24 | $-11.2M | $611.0K |
| Q4 25 | $-2.0M | $-4.3M | ||
| Q3 25 | $-13.1M | $524.0K | ||
| Q2 25 | $-20.4M | $-4.2M | ||
| Q1 25 | $-21.5M | $26.1M | ||
| Q4 24 | $-21.3M | $-2.5M | ||
| Q3 24 | $-13.9M | $-223.0K | ||
| Q2 24 | $-15.0M | $-3.7M | ||
| Q1 24 | $-14.5M | $-815.0K |
| Q4 25 | -3.1% | -4.2% | ||
| Q3 25 | -24.4% | 0.6% | ||
| Q2 25 | -39.7% | -3.8% | ||
| Q1 25 | -51.9% | 29.0% | ||
| Q4 24 | -47.8% | -2.3% | ||
| Q3 24 | -34.6% | -0.2% | ||
| Q2 24 | -33.9% | -3.1% | ||
| Q1 24 | -38.9% | -0.8% |
| Q4 25 | 2.8% | 1.1% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | 3.2% | 0.5% | ||
| Q1 25 | 1.8% | 0.7% | ||
| Q4 24 | 1.2% | 0.6% | ||
| Q3 24 | 3.7% | 0.5% | ||
| Q2 24 | 1.8% | 0.7% | ||
| Q1 24 | 8.9% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -4.24× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.46× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESTA
Segment breakdown not available.
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
