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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and Inogen Inc (INGN). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $68.6M, roughly 1.5× Inogen Inc). On growth, Inogen Inc posted the faster year-over-year revenue change (3.4% vs -6.5%). Inogen Inc produced more free cash flow last quarter ($-1.9M vs $-4.3M). Over the past eight quarters, Inogen Inc's revenue compounded faster (4.2% CAGR vs 0.5%).
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.
Inogen Inc is a medical technology firm specializing in the development, production and distribution of portable oxygen concentrators and associated respiratory care products. It caters primarily to patients with chronic respiratory conditions needing long-term oxygen therapy across North America, Europe and other global markets, focusing on home care and ambulatory patient segments to enhance users' quality of life.
FORR vs INGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $68.6M |
| Net Profit | $-33.9M | — |
| Gross Margin | 56.7% | 51.4% |
| Operating Margin | -36.6% | -13.6% |
| Net Margin | -33.5% | — |
| Revenue YoY | -6.5% | 3.4% |
| Net Profit YoY | -7941.4% | — |
| EPS (diluted) | $-1.75 | $-0.26 |
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 | $101.1M | $68.6M | ||
| Q3 25 | $94.3M | $79.1M | ||
| Q2 25 | $111.7M | $79.2M | ||
| Q1 25 | $89.9M | $68.5M | ||
| Q4 24 | $108.0M | $66.3M | ||
| Q3 24 | $102.5M | $74.9M | ||
| Q2 24 | $121.8M | $74.4M | ||
| Q1 24 | $100.1M | $63.1M |
| Q4 25 | $-33.9M | — | ||
| Q3 25 | $-2.1M | $-5.3M | ||
| Q2 25 | $3.9M | $-4.2M | ||
| Q1 25 | $-87.3M | $-6.2M | ||
| Q4 24 | $432.0K | — | ||
| Q3 24 | $-5.8M | $-6.0M | ||
| Q2 24 | $6.3M | $-5.6M | ||
| Q1 24 | $-6.7M | $-14.6M |
| Q4 25 | 56.7% | 51.4% | ||
| Q3 25 | 60.0% | 52.2% | ||
| Q2 25 | 55.5% | 52.2% | ||
| Q1 25 | 55.9% | 53.1% | ||
| Q4 24 | 58.8% | 54.7% | ||
| Q3 24 | 60.5% | 55.2% | ||
| Q2 24 | 57.3% | 57.4% | ||
| Q1 24 | 54.9% | 54.5% |
| Q4 25 | -36.6% | -13.6% | ||
| Q3 25 | 4.7% | -9.0% | ||
| Q2 25 | 6.2% | -7.7% | ||
| Q1 25 | -97.5% | -11.2% | ||
| Q4 24 | -0.5% | -17.2% | ||
| Q3 24 | -0.7% | -10.4% | ||
| Q2 24 | 9.3% | -9.5% | ||
| Q1 24 | -9.3% | -25.8% |
| Q4 25 | -33.5% | — | ||
| Q3 25 | -2.3% | -6.7% | ||
| Q2 25 | 3.5% | -5.2% | ||
| Q1 25 | -97.1% | -9.0% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | -5.7% | -8.0% | ||
| Q2 24 | 5.2% | -7.5% | ||
| Q1 24 | -6.7% | -23.1% |
| Q4 25 | $-1.75 | $-0.26 | ||
| Q3 25 | $-0.11 | $-0.20 | ||
| Q2 25 | $0.20 | $-0.15 | ||
| Q1 25 | $-4.62 | $-0.25 | ||
| Q4 24 | $0.02 | $-0.41 | ||
| Q3 24 | $-0.30 | $-0.25 | ||
| Q2 24 | $0.33 | $-0.24 | ||
| Q1 24 | $-0.35 | $-0.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $63.3M | $103.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $126.5M | $192.2M |
| Total Assets | $404.0M | $298.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | $103.7M | ||
| Q3 25 | $65.1M | $106.5M | ||
| Q2 25 | $67.8M | $103.7M | ||
| Q1 25 | $75.6M | $118.9M | ||
| Q4 24 | $56.1M | $113.8M | ||
| Q3 24 | $62.8M | $105.7M | ||
| Q2 24 | $58.9M | $97.9M | ||
| Q1 24 | $61.4M | $107.4M |
| Q4 25 | $126.5M | $192.2M | ||
| Q3 25 | $157.7M | $197.2M | ||
| Q2 25 | $159.5M | $199.5M | ||
| Q1 25 | $147.4M | $198.0M | ||
| Q4 24 | $229.5M | $173.9M | ||
| Q3 24 | $234.3M | $185.4M | ||
| Q2 24 | $237.1M | $187.6M | ||
| Q1 24 | $230.9M | $191.9M |
| Q4 25 | $404.0M | $298.6M | ||
| Q3 25 | $414.2M | $307.0M | ||
| Q2 25 | $436.0M | $312.0M | ||
| Q1 25 | $439.8M | $308.4M | ||
| Q4 24 | $503.9M | $296.2M | ||
| Q3 24 | $505.3M | $306.2M | ||
| Q2 24 | $524.2M | $308.9M | ||
| Q1 24 | $555.7M | $315.6M |
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 | $-3.2M | $-943.0K |
| Free Cash FlowOCF − Capex | $-4.3M | $-1.9M |
| FCF MarginFCF / Revenue | -4.2% | -2.8% |
| Capex IntensityCapex / Revenue | 1.1% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | $-13.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.2M | $-943.0K | ||
| Q3 25 | $1.2M | $2.2M | ||
| Q2 25 | $-3.6M | $4.3M | ||
| Q1 25 | $26.7M | $-16.8M | ||
| Q4 24 | $-1.8M | $-3.0M | ||
| Q3 24 | $264.0K | $7.0M | ||
| Q2 24 | $-2.9M | $6.7M | ||
| Q1 24 | $611.0K | $-4.7M |
| Q4 25 | $-4.3M | $-1.9M | ||
| Q3 25 | $524.0K | $1.6M | ||
| Q2 25 | $-4.2M | $3.7M | ||
| Q1 25 | $26.1M | $-17.1M | ||
| Q4 24 | $-2.5M | $-3.3M | ||
| Q3 24 | $-223.0K | $5.3M | ||
| Q2 24 | $-3.7M | $6.6M | ||
| Q1 24 | $-815.0K | $-6.1M |
| Q4 25 | -4.2% | -2.8% | ||
| Q3 25 | 0.6% | 2.0% | ||
| Q2 25 | -3.8% | 4.6% | ||
| Q1 25 | 29.0% | -24.9% | ||
| Q4 24 | -2.3% | -5.0% | ||
| Q3 24 | -0.2% | 7.1% | ||
| Q2 24 | -3.1% | 8.9% | ||
| Q1 24 | -0.8% | -9.6% |
| Q4 25 | 1.1% | 1.4% | ||
| Q3 25 | 0.7% | 0.7% | ||
| Q2 25 | 0.5% | 0.9% | ||
| Q1 25 | 0.7% | 0.4% | ||
| Q4 24 | 0.6% | 0.5% | ||
| Q3 24 | 0.5% | 2.2% | ||
| Q2 24 | 0.7% | 0.1% | ||
| Q1 24 | 1.4% | 2.1% |
| 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
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
