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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and SMARTFINANCIAL INC. (SMBK). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $53.8M, roughly 1.9× SMARTFINANCIAL INC.). SMARTFINANCIAL INC. runs the higher net margin — 25.4% vs -33.5%, a 58.9% gap on every dollar of revenue. Over the past eight quarters, SMARTFINANCIAL INC.'s revenue compounded faster (15.4% 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.
SmartFinancial Inc. is a U.S.-based bank holding company that operates its wholly owned subsidiary SmartBank. It offers a full range of retail and commercial banking products including deposit accounts, personal and business loans, mortgage services, and wealth management solutions, primarily serving individual customers and small-to-medium enterprises across the Southeastern United States.
FORR vs SMBK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $53.8M |
| Net Profit | $-33.9M | $13.7M |
| Gross Margin | 56.7% | — |
| Operating Margin | -36.6% | — |
| Net Margin | -33.5% | 25.4% |
| Revenue YoY | -6.5% | — |
| Net Profit YoY | -7941.4% | 21.6% |
| EPS (diluted) | $-1.75 | $0.81 |
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.
| Q1 26 | — | $53.8M | ||
| Q4 25 | $101.1M | $53.3M | ||
| Q3 25 | $94.3M | $51.1M | ||
| Q2 25 | $111.7M | $49.2M | ||
| Q1 25 | $89.9M | $46.8M | ||
| Q4 24 | $108.0M | $46.8M | ||
| Q3 24 | $102.5M | $44.2M | ||
| Q2 24 | $121.8M | $40.4M |
| Q1 26 | — | $13.7M | ||
| Q4 25 | $-33.9M | $13.7M | ||
| Q3 25 | $-2.1M | $13.7M | ||
| Q2 25 | $3.9M | $11.7M | ||
| Q1 25 | $-87.3M | $11.3M | ||
| Q4 24 | $432.0K | $9.6M | ||
| Q3 24 | $-5.8M | $9.1M | ||
| Q2 24 | $6.3M | $8.0M |
| Q1 26 | — | — | ||
| Q4 25 | 56.7% | — | ||
| Q3 25 | 60.0% | — | ||
| Q2 25 | 55.5% | — | ||
| Q1 25 | 55.9% | — | ||
| Q4 24 | 58.8% | — | ||
| Q3 24 | 60.5% | — | ||
| Q2 24 | 57.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | -36.6% | 31.3% | ||
| Q3 25 | 4.7% | 33.2% | ||
| Q2 25 | 6.2% | 29.0% | ||
| Q1 25 | -97.5% | 29.0% | ||
| Q4 24 | -0.5% | 26.5% | ||
| Q3 24 | -0.7% | 24.3% | ||
| Q2 24 | 9.3% | 25.6% |
| Q1 26 | — | 25.4% | ||
| Q4 25 | -33.5% | 25.7% | ||
| Q3 25 | -2.3% | 26.8% | ||
| Q2 25 | 3.5% | 23.8% | ||
| Q1 25 | -97.1% | 24.0% | ||
| Q4 24 | 0.4% | 20.6% | ||
| Q3 24 | -5.7% | 20.7% | ||
| Q2 24 | 5.2% | 19.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | $-1.75 | $0.81 | ||
| Q3 25 | $-0.11 | $0.81 | ||
| Q2 25 | $0.20 | $0.69 | ||
| Q1 25 | $-4.62 | $0.67 | ||
| Q4 24 | $0.02 | $0.57 | ||
| Q3 24 | $-0.30 | $0.54 | ||
| Q2 24 | $0.33 | $0.48 |
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 | $346.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $126.5M | $562.2M |
| Total Assets | $404.0M | $5.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $346.1M | ||
| Q4 25 | $63.3M | $464.4M | ||
| Q3 25 | $65.1M | $557.1M | ||
| Q2 25 | $67.8M | $365.1M | ||
| Q1 25 | $75.6M | $423.0M | ||
| Q4 24 | $56.1M | $387.6M | ||
| Q3 24 | $62.8M | $192.9M | ||
| Q2 24 | $58.9M | $342.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.3M | ||
| Q2 25 | — | $7.0M | ||
| Q1 25 | — | $7.6M | ||
| Q4 24 | — | $8.1M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | — | $12.7M |
| Q1 26 | — | $562.2M | ||
| Q4 25 | $126.5M | $552.4M | ||
| Q3 25 | $157.7M | $538.4M | ||
| Q2 25 | $159.5M | $519.0M | ||
| Q1 25 | $147.4M | $505.8M | ||
| Q4 24 | $229.5M | $491.3M | ||
| Q3 24 | $234.3M | $489.0M | ||
| Q2 24 | $237.1M | $472.5M |
| Q1 26 | — | $5.9B | ||
| Q4 25 | $404.0M | $5.9B | ||
| Q3 25 | $414.2M | $5.8B | ||
| Q2 25 | $436.0M | $5.5B | ||
| Q1 25 | $439.8M | $5.4B | ||
| Q4 24 | $503.9M | $5.3B | ||
| Q3 24 | $505.3M | $4.9B | ||
| Q2 24 | $524.2M | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | — | 0.02× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 0.03× |
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 | — |
| Free Cash FlowOCF − Capex | $-4.3M | — |
| FCF MarginFCF / Revenue | -4.2% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | $61.7M | ||
| Q3 25 | $1.2M | $16.9M | ||
| Q2 25 | $-3.6M | $14.0M | ||
| Q1 25 | $26.7M | $14.3M | ||
| Q4 24 | $-1.8M | $52.7M | ||
| Q3 24 | $264.0K | $12.4M | ||
| Q2 24 | $-2.9M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-4.3M | $59.3M | ||
| Q3 25 | $524.0K | $16.6M | ||
| Q2 25 | $-4.2M | $13.2M | ||
| Q1 25 | $26.1M | $13.4M | ||
| Q4 24 | $-2.5M | $46.3M | ||
| Q3 24 | $-223.0K | $11.3M | ||
| Q2 24 | $-3.7M | $15.4M |
| Q1 26 | — | — | ||
| Q4 25 | -4.2% | 111.3% | ||
| Q3 25 | 0.6% | 32.4% | ||
| Q2 25 | -3.8% | 26.9% | ||
| Q1 25 | 29.0% | 28.5% | ||
| Q4 24 | -2.3% | 98.9% | ||
| Q3 24 | -0.2% | 25.7% | ||
| Q2 24 | -3.1% | 38.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 4.5% | ||
| Q3 25 | 0.7% | 0.6% | ||
| Q2 25 | 0.5% | 1.6% | ||
| Q1 25 | 0.7% | 2.0% | ||
| Q4 24 | 0.6% | 13.7% | ||
| Q3 24 | 0.5% | 2.4% | ||
| Q2 24 | 0.7% | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.50× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | -0.93× | 1.20× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | -4.24× | 5.47× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | -0.46× | 2.07× |
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% |
SMBK
| Net Interest Income | $45.9M | 85% |
| Noninterest Income | $7.9M | 15% |
