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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and LIVEPERSON INC (LPSN). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $59.3M, roughly 1.7× LIVEPERSON INC). FORRESTER RESEARCH, INC. runs the higher net margin — -33.5% vs -77.8%, a 44.2% gap on every dollar of revenue. On growth, FORRESTER RESEARCH, INC. posted the faster year-over-year revenue change (-6.5% vs -19.0%). FORRESTER RESEARCH, INC. produced more free cash flow last quarter ($-4.3M vs $-12.0M). Over the past eight quarters, FORRESTER RESEARCH, INC.'s revenue compounded faster (0.5% CAGR vs -16.6%).
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.
LivePerson is a global technology company that develops conversational commerce and AI software.
FORR vs LPSN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $59.3M |
| Net Profit | $-33.9M | $-46.1M |
| Gross Margin | 56.7% | 73.2% |
| Operating Margin | -36.6% | -68.7% |
| Net Margin | -33.5% | -77.8% |
| Revenue YoY | -6.5% | -19.0% |
| Net Profit YoY | -7941.4% | 58.9% |
| EPS (diluted) | $-1.75 | $-9.22 |
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 | $59.3M | ||
| Q3 25 | $94.3M | $60.2M | ||
| Q2 25 | $111.7M | $59.6M | ||
| Q1 25 | $89.9M | $64.7M | ||
| Q4 24 | $108.0M | $73.2M | ||
| Q3 24 | $102.5M | $74.2M | ||
| Q2 24 | $121.8M | $79.9M | ||
| Q1 24 | $100.1M | $85.1M |
| Q4 25 | $-33.9M | $-46.1M | ||
| Q3 25 | $-2.1M | $8.7M | ||
| Q2 25 | $3.9M | $-15.7M | ||
| Q1 25 | $-87.3M | $-14.1M | ||
| Q4 24 | $432.0K | $-112.1M | ||
| Q3 24 | $-5.8M | $-28.3M | ||
| Q2 24 | $6.3M | $41.8M | ||
| Q1 24 | $-6.7M | $-35.6M |
| Q4 25 | 56.7% | 73.2% | ||
| Q3 25 | 60.0% | 71.4% | ||
| Q2 25 | 55.5% | 69.7% | ||
| Q1 25 | 55.9% | 71.8% | ||
| Q4 24 | 58.8% | 77.4% | ||
| Q3 24 | 60.5% | 73.1% | ||
| Q2 24 | 57.3% | 79.4% | ||
| Q1 24 | 54.9% | 71.3% |
| Q4 25 | -36.6% | -68.7% | ||
| Q3 25 | 4.7% | -24.2% | ||
| Q2 25 | 6.2% | -10.8% | ||
| Q1 25 | -97.5% | -26.2% | ||
| Q4 24 | -0.5% | -138.0% | ||
| Q3 24 | -0.7% | -21.6% | ||
| Q2 24 | 9.3% | -37.3% | ||
| Q1 24 | -9.3% | -42.7% |
| Q4 25 | -33.5% | -77.8% | ||
| Q3 25 | -2.3% | 14.5% | ||
| Q2 25 | 3.5% | -26.4% | ||
| Q1 25 | -97.1% | -21.8% | ||
| Q4 24 | 0.4% | -153.2% | ||
| Q3 24 | -5.7% | -38.1% | ||
| Q2 24 | 5.2% | 52.3% | ||
| Q1 24 | -6.7% | -41.8% |
| Q4 25 | $-1.75 | $-9.22 | ||
| Q3 25 | $-0.11 | $-2.76 | ||
| Q2 25 | $0.20 | $-0.17 | ||
| Q1 25 | $-4.62 | $-0.24 | ||
| Q4 24 | $0.02 | $-17.23 | ||
| Q3 24 | $-0.30 | $-4.74 | ||
| Q2 24 | $0.33 | $-0.33 | ||
| Q1 24 | $-0.35 | $-0.40 |
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 | $95.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $126.5M | $-44.5M |
| Total Assets | $404.0M | $454.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | $95.0M | ||
| Q3 25 | $65.1M | $106.7M | ||
| Q2 25 | $67.8M | $162.0M | ||
| Q1 25 | $75.6M | $176.3M | ||
| Q4 24 | $56.1M | $183.2M | ||
| Q3 24 | $62.8M | $142.1M | ||
| Q2 24 | $58.9M | $146.0M | ||
| Q1 24 | $61.4M | $127.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $512.1M |
| Q4 25 | $126.5M | $-44.5M | ||
| Q3 25 | $157.7M | $-22.1M | ||
| Q2 25 | $159.5M | $-82.4M | ||
| Q1 25 | $147.4M | $-74.9M | ||
| Q4 24 | $229.5M | $-67.3M | ||
| Q3 24 | $234.3M | $45.9M | ||
| Q2 24 | $237.1M | $66.6M | ||
| Q1 24 | $230.9M | $19.2M |
| Q4 25 | $404.0M | $454.7M | ||
| Q3 25 | $414.2M | $511.4M | ||
| Q2 25 | $436.0M | $604.2M | ||
| Q1 25 | $439.8M | $596.2M | ||
| Q4 24 | $503.9M | $607.8M | ||
| Q3 24 | $505.3M | $692.0M | ||
| Q2 24 | $524.2M | $703.8M | ||
| Q1 24 | $555.7M | $724.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 26.69× |
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 | $-9.7M |
| Free Cash FlowOCF − Capex | $-4.3M | $-12.0M |
| FCF MarginFCF / Revenue | -4.2% | -20.2% |
| Capex IntensityCapex / Revenue | 1.1% | 3.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | $-42.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.2M | $-9.7M | ||
| Q3 25 | $1.2M | $-6.0M | ||
| Q2 25 | $-3.6M | $-11.7M | ||
| Q1 25 | $26.7M | $-3.1M | ||
| Q4 24 | $-1.8M | $-3.1M | ||
| Q3 24 | $264.0K | $4.8M | ||
| Q2 24 | $-2.9M | $-17.9M | ||
| Q1 24 | $611.0K | $1.1M |
| Q4 25 | $-4.3M | $-12.0M | ||
| Q3 25 | $524.0K | $-8.9M | ||
| Q2 25 | $-4.2M | $-14.8M | ||
| Q1 25 | $26.1M | $-6.9M | ||
| Q4 24 | $-2.5M | $-6.8M | ||
| Q3 24 | $-223.0K | $-230.0K | ||
| Q2 24 | $-3.7M | $-22.9M | ||
| Q1 24 | $-815.0K | $-10.4M |
| Q4 25 | -4.2% | -20.2% | ||
| Q3 25 | 0.6% | -14.8% | ||
| Q2 25 | -3.8% | -24.9% | ||
| Q1 25 | 29.0% | -10.6% | ||
| Q4 24 | -2.3% | -9.2% | ||
| Q3 24 | -0.2% | -0.3% | ||
| Q2 24 | -3.1% | -28.7% | ||
| Q1 24 | -0.8% | -12.2% |
| Q4 25 | 1.1% | 3.9% | ||
| Q3 25 | 0.7% | 4.8% | ||
| Q2 25 | 0.5% | 5.3% | ||
| Q1 25 | 0.7% | 5.8% | ||
| Q4 24 | 0.6% | 5.0% | ||
| Q3 24 | 0.5% | 6.8% | ||
| Q2 24 | 0.7% | 6.2% | ||
| Q1 24 | 1.4% | 13.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.69× | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.46× | -0.43× | ||
| 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% |
LPSN
| Hosted Services Business | $51.0M | 86% |
| Professional Services | $8.3M | 14% |
