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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and Inspirato Inc (ISPO). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $55.5M, roughly 1.8× Inspirato Inc). Inspirato Inc runs the higher net margin — -8.1% vs -33.5%, a 25.4% gap on every dollar of revenue. On growth, FORRESTER RESEARCH, INC. posted the faster year-over-year revenue change (-6.5% vs -19.6%). Inspirato Inc produced more free cash flow last quarter ($-3.0M vs $-4.3M). Over the past eight quarters, FORRESTER RESEARCH, INC.'s revenue compounded faster (0.5% CAGR vs -11.4%).
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.
Inspirato Inc is a luxury travel and hospitality subscription service provider catering primarily to high-net-worth consumers across North America. It offers curated premium villa rentals, exclusive resort access, customized trip planning, and corporate travel incentive solutions for enterprise clients.
FORR vs ISPO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $55.5M |
| Net Profit | $-33.9M | $-4.5M |
| Gross Margin | 56.7% | 31.4% |
| Operating Margin | -36.6% | -8.0% |
| Net Margin | -33.5% | -8.1% |
| Revenue YoY | -6.5% | -19.6% |
| Net Profit YoY | -7941.4% | -204.4% |
| EPS (diluted) | $-1.75 | $-0.36 |
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 | — | ||
| Q3 25 | $94.3M | $55.5M | ||
| Q2 25 | $111.7M | $63.1M | ||
| Q1 25 | $89.9M | $65.9M | ||
| Q4 24 | $108.0M | $63.1M | ||
| Q3 24 | $102.5M | $69.1M | ||
| Q2 24 | $121.8M | $67.4M | ||
| Q1 24 | $100.1M | $80.2M |
| Q4 25 | $-33.9M | — | ||
| Q3 25 | $-2.1M | $-4.5M | ||
| Q2 25 | $3.9M | $-5.3M | ||
| Q1 25 | $-87.3M | $1.6M | ||
| Q4 24 | $432.0K | $-2.3M | ||
| Q3 24 | $-5.8M | $4.3M | ||
| Q2 24 | $6.3M | $-8.7M | ||
| Q1 24 | $-6.7M | $1.3M |
| Q4 25 | 56.7% | — | ||
| Q3 25 | 60.0% | 31.4% | ||
| Q2 25 | 55.5% | 27.5% | ||
| Q1 25 | 55.9% | 38.8% | ||
| Q4 24 | 58.8% | 34.7% | ||
| Q3 24 | 60.5% | 71.5% | ||
| Q2 24 | 57.3% | 24.0% | ||
| Q1 24 | 54.9% | 39.5% |
| Q4 25 | -36.6% | — | ||
| Q3 25 | 4.7% | -8.0% | ||
| Q2 25 | 6.2% | -8.3% | ||
| Q1 25 | -97.5% | 2.5% | ||
| Q4 24 | -0.5% | -3.2% | ||
| Q3 24 | -0.7% | 9.8% | ||
| Q2 24 | 9.3% | -22.8% | ||
| Q1 24 | -9.3% | 3.0% |
| Q4 25 | -33.5% | — | ||
| Q3 25 | -2.3% | -8.1% | ||
| Q2 25 | 3.5% | -8.4% | ||
| Q1 25 | -97.1% | 2.5% | ||
| Q4 24 | 0.4% | -3.6% | ||
| Q3 24 | -5.7% | 6.3% | ||
| Q2 24 | 5.2% | -12.9% | ||
| Q1 24 | -6.7% | 1.6% |
| Q4 25 | $-1.75 | — | ||
| Q3 25 | $-0.11 | $-0.36 | ||
| Q2 25 | $0.20 | $-0.42 | ||
| Q1 25 | $-4.62 | $0.12 | ||
| Q4 24 | $0.02 | $0.98 | ||
| Q3 24 | $-0.30 | $0.62 | ||
| Q2 24 | $0.33 | $-2.33 | ||
| Q1 24 | $-0.35 | $-0.18 |
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 | $13.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $126.5M | $-134.0M |
| Total Assets | $404.0M | $228.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | — | ||
| Q3 25 | $65.1M | $13.7M | ||
| Q2 25 | $67.8M | $16.7M | ||
| Q1 25 | $75.6M | $16.4M | ||
| Q4 24 | $56.1M | $21.8M | ||
| Q3 24 | $62.8M | $13.5M | ||
| Q2 24 | $58.9M | $18.8M | ||
| Q1 24 | $61.4M | $22.6M |
| Q4 25 | $126.5M | — | ||
| Q3 25 | $157.7M | $-134.0M | ||
| Q2 25 | $159.5M | $-129.7M | ||
| Q1 25 | $147.4M | $-125.2M | ||
| Q4 24 | $229.5M | $-129.9M | ||
| Q3 24 | $234.3M | $-134.6M | ||
| Q2 24 | $237.1M | $-35.2M | ||
| Q1 24 | $230.9M | $-27.5M |
| Q4 25 | $404.0M | — | ||
| Q3 25 | $414.2M | $228.3M | ||
| Q2 25 | $436.0M | $252.6M | ||
| Q1 25 | $439.8M | $270.1M | ||
| Q4 24 | $503.9M | $273.9M | ||
| Q3 24 | $505.3M | $273.3M | ||
| Q2 24 | $524.2M | $301.7M | ||
| Q1 24 | $555.7M | $313.0M |
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 | $-2.2M |
| Free Cash FlowOCF − Capex | $-4.3M | $-3.0M |
| FCF MarginFCF / Revenue | -4.2% | -5.4% |
| Capex IntensityCapex / Revenue | 1.1% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | $-31.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.2M | — | ||
| Q3 25 | $1.2M | $-2.2M | ||
| Q2 25 | $-3.6M | $1.1M | ||
| Q1 25 | $26.7M | $-6.6M | ||
| Q4 24 | $-1.8M | $-15.8M | ||
| Q3 24 | $264.0K | $-13.7M | ||
| Q2 24 | $-2.9M | $-1.8M | ||
| Q1 24 | $611.0K | $-7.2M |
| Q4 25 | $-4.3M | — | ||
| Q3 25 | $524.0K | $-3.0M | ||
| Q2 25 | $-4.2M | $468.0K | ||
| Q1 25 | $26.1M | $-7.5M | ||
| Q4 24 | $-2.5M | $-21.2M | ||
| Q3 24 | $-223.0K | $-14.8M | ||
| Q2 24 | $-3.7M | $-3.7M | ||
| Q1 24 | $-815.0K | $-8.5M |
| Q4 25 | -4.2% | — | ||
| Q3 25 | 0.6% | -5.4% | ||
| Q2 25 | -3.8% | 0.7% | ||
| Q1 25 | 29.0% | -11.4% | ||
| Q4 24 | -2.3% | -33.7% | ||
| Q3 24 | -0.2% | -21.5% | ||
| Q2 24 | -3.1% | -5.5% | ||
| Q1 24 | -0.8% | -10.6% |
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.7% | 1.4% | ||
| Q2 25 | 0.5% | 1.0% | ||
| Q1 25 | 0.7% | 1.3% | ||
| Q4 24 | 0.6% | 8.7% | ||
| Q3 24 | 0.5% | 1.6% | ||
| Q2 24 | 0.7% | 2.8% | ||
| Q1 24 | 1.4% | 1.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | -4.09× | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | -3.16× | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | — | -5.70× |
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% |
ISPO
| Residence And Hotel Travel | $25.9M | 47% |
| Subscription | $19.4M | 35% |
| Experiences And Bespoke Travel | $8.0M | 14% |
| Rewards And Other Revenue | $2.3M | 4% |
