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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $101.1M, roughly 1.4× FORRESTER RESEARCH, INC.). Purple Innovation, Inc. runs the higher net margin — -2.3% vs -33.5%, a 31.2% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs -6.5%). FORRESTER RESEARCH, INC. produced more free cash flow last quarter ($-4.3M vs $-7.8M). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% 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.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
FORR vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $140.7M |
| Net Profit | $-33.9M | $-3.2M |
| Gross Margin | 56.7% | 41.9% |
| Operating Margin | -36.6% | -1.6% |
| Net Margin | -33.5% | -2.3% |
| Revenue YoY | -6.5% | 9.1% |
| Net Profit YoY | -7941.4% | 62.1% |
| EPS (diluted) | $-1.75 | $0.03 |
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 | $140.7M | ||
| Q3 25 | $94.3M | $118.8M | ||
| Q2 25 | $111.7M | $105.1M | ||
| Q1 25 | $89.9M | $104.2M | ||
| Q4 24 | $108.0M | $129.0M | ||
| Q3 24 | $102.5M | $118.6M | ||
| Q2 24 | $121.8M | $120.3M | ||
| Q1 24 | $100.1M | $120.0M |
| Q4 25 | $-33.9M | $-3.2M | ||
| Q3 25 | $-2.1M | $-11.7M | ||
| Q2 25 | $3.9M | $-17.3M | ||
| Q1 25 | $-87.3M | $-19.1M | ||
| Q4 24 | $432.0K | $-8.5M | ||
| Q3 24 | $-5.8M | $-39.2M | ||
| Q2 24 | $6.3M | $27.0K | ||
| Q1 24 | $-6.7M | $-50.2M |
| Q4 25 | 56.7% | 41.9% | ||
| Q3 25 | 60.0% | 42.8% | ||
| Q2 25 | 55.5% | 35.9% | ||
| Q1 25 | 55.9% | 39.4% | ||
| Q4 24 | 58.8% | 42.9% | ||
| Q3 24 | 60.5% | 29.7% | ||
| Q2 24 | 57.3% | 40.7% | ||
| Q1 24 | 54.9% | 34.8% |
| Q4 25 | -36.6% | -1.6% | ||
| Q3 25 | 4.7% | -10.2% | ||
| Q2 25 | 6.2% | -13.5% | ||
| Q1 25 | -97.5% | -13.9% | ||
| Q4 24 | -0.5% | -6.0% | ||
| Q3 24 | -0.7% | -39.5% | ||
| Q2 24 | 9.3% | -12.1% | ||
| Q1 24 | -9.3% | -19.3% |
| Q4 25 | -33.5% | -2.3% | ||
| Q3 25 | -2.3% | -9.9% | ||
| Q2 25 | 3.5% | -16.5% | ||
| Q1 25 | -97.1% | -18.4% | ||
| Q4 24 | 0.4% | -6.6% | ||
| Q3 24 | -5.7% | -33.1% | ||
| Q2 24 | 5.2% | 0.0% | ||
| Q1 24 | -6.7% | -41.8% |
| Q4 25 | $-1.75 | $0.03 | ||
| Q3 25 | $-0.11 | $0.11 | ||
| Q2 25 | $0.20 | $0.16 | ||
| Q1 25 | $-4.62 | $0.18 | ||
| Q4 24 | $0.02 | $0.08 | ||
| Q3 24 | $-0.30 | $0.36 | ||
| Q2 24 | $0.33 | $0.00 | ||
| Q1 24 | $-0.35 | $0.47 |
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 | $24.3M |
| Total DebtLower is stronger | — | $126.7M |
| Stockholders' EquityBook value | $126.5M | $-29.7M |
| Total Assets | $404.0M | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | $24.3M | ||
| Q3 25 | $65.1M | $32.4M | ||
| Q2 25 | $67.8M | $34.2M | ||
| Q1 25 | $75.6M | $21.6M | ||
| Q4 24 | $56.1M | $29.0M | ||
| Q3 24 | $62.8M | $23.4M | ||
| Q2 24 | $58.9M | $23.4M | ||
| Q1 24 | $61.4M | $34.5M |
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $126.5M | $-29.7M | ||
| Q3 25 | $157.7M | $-26.9M | ||
| Q2 25 | $159.5M | $-15.6M | ||
| Q1 25 | $147.4M | $1.3M | ||
| Q4 24 | $229.5M | $20.2M | ||
| Q3 24 | $234.3M | $28.0M | ||
| Q2 24 | $237.1M | $66.4M | ||
| Q1 24 | $230.9M | $65.5M |
| Q4 25 | $404.0M | $296.3M | ||
| Q3 25 | $414.2M | $302.1M | ||
| Q2 25 | $436.0M | $303.8M | ||
| Q1 25 | $439.8M | $293.8M | ||
| Q4 24 | $503.9M | $307.8M | ||
| Q3 24 | $505.3M | $309.3M | ||
| Q2 24 | $524.2M | $362.1M | ||
| Q1 24 | $555.7M | $382.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.50× | ||
| Q3 24 | — | 1.82× | ||
| 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 | $-3.2M | $-5.8M |
| Free Cash FlowOCF − Capex | $-4.3M | $-7.8M |
| FCF MarginFCF / Revenue | -4.2% | -5.5% |
| Capex IntensityCapex / Revenue | 1.1% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.2M | $-5.8M | ||
| Q3 25 | $1.2M | $-968.0K | ||
| Q2 25 | $-3.6M | $-4.0M | ||
| Q1 25 | $26.7M | $-23.1M | ||
| Q4 24 | $-1.8M | $6.8M | ||
| Q3 24 | $264.0K | $1.1M | ||
| Q2 24 | $-2.9M | $-8.9M | ||
| Q1 24 | $611.0K | $-16.8M |
| Q4 25 | $-4.3M | $-7.8M | ||
| Q3 25 | $524.0K | $-1.8M | ||
| Q2 25 | $-4.2M | $-7.0M | ||
| Q1 25 | $26.1M | $-25.3M | ||
| Q4 24 | $-2.5M | $5.7M | ||
| Q3 24 | $-223.0K | $101.0K | ||
| Q2 24 | $-3.7M | $-11.0M | ||
| Q1 24 | $-815.0K | $-19.9M |
| Q4 25 | -4.2% | -5.5% | ||
| Q3 25 | 0.6% | -1.5% | ||
| Q2 25 | -3.8% | -6.6% | ||
| Q1 25 | 29.0% | -24.3% | ||
| Q4 24 | -2.3% | 4.4% | ||
| Q3 24 | -0.2% | 0.1% | ||
| Q2 24 | -3.1% | -9.2% | ||
| Q1 24 | -0.8% | -16.5% |
| Q4 25 | 1.1% | 1.4% | ||
| Q3 25 | 0.7% | 0.7% | ||
| Q2 25 | 0.5% | 2.8% | ||
| Q1 25 | 0.7% | 2.2% | ||
| Q4 24 | 0.6% | 0.8% | ||
| Q3 24 | 0.5% | 0.9% | ||
| Q2 24 | 0.7% | 1.7% | ||
| Q1 24 | 1.4% | 2.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.46× | -330.22× | ||
| 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% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
