Forrester Research Announces Financial Results for Third Quarter of 2024

On November 5, 2024, Forrester Research, Inc. (NASDAQ: FORR) released its financial results for the quarter ended September 30, 2024. According to the report, the company’s contract value (CV) stood at $315.2 million, showing a 5% decrease compared to the previous year.

Forrester’s CEO and Chairman, George F. Colony, mentioned that the company is progressing well in its product migration efforts. By the end of the year, Forrester is aiming to exceed its goal of having 80% of CV on the Forrester Decisions platform. Despite stable CV metrics, the company is maintaining its revenue, margin, and earnings per share (EPS) guidance for the year. Colony highlighted their focus on enhancing the platform and improving go-to-market strategies to ensure a robust fourth quarter for enhanced CV performance in 2025.

The consolidated results for the third quarter of 2024 indicated total revenues of $102.5 million, down from $113.4 million reported in the same quarter in 2023. On a GAAP basis, Forrester reported a net loss of $5.8 million, or $0.30 per diluted share, for Q3 2024, in contrast to a net income of $2.5 million, or $0.13 per diluted share, for Q3 2023. On an adjusted basis, net income for Q3 2024 was $5.6 million, or $0.29 per diluted share, while Q3 2023 had an adjusted net income of $8.6 million, or $0.44 per diluted share.

Providing guidance for the full-year 2024, Forrester anticipates total revenues in the range of approximately $425 million to $435 million (GAAP) and adjusted operating margin of about 8.5% to 9.5%. Adjusted diluted earnings per share are projected to be around $1.37 to $1.57 for the year.

Forrester Research (NASDAQ: FORR) is recognized as a leading research and advisory firm worldwide, catering to various sectors like technology, customer experience, digital marketing, sales, and product functions. Through its research, consulting, and events, the company aids global leaders in leveraging customer obsession to drive growth and navigate change effectively.

The financial data outlined above provides insights into Forrester’s operational performance and financial position as of the third quarter of 2024. For a more detailed breakdown of the figures and additional information, interested parties can refer to the official reports and filings with the Securities and Exchange Commission.

This news publication is based on the 8-K SEC Filing submitted by Forrester Research on November 5, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Forrester Research’s 8K filing here.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.