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Forrester Research Inc. (FORR) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $432.5 million, a decrease from $480.8 million in 2023. This decline is attributed to decreases in research, consulting, and events revenues.
Research revenues, which account for 73% of total revenues, decreased by 5% to $316.7 million. This was primarily due to a decrease in contract value and declines in revenue from reprint products.
Consulting revenues fell by 18% to $97.3 million, driven by a decrease in client bookings and delivery of consulting services.
Events revenues decreased by 34% to $18.5 million, attributed to declines in sponsorship and ticket sales.
Operating expenses totaled $431.7 million, slightly down from $474.0 million in 2023. This decrease was due to reductions in compensation, benefits, and professional services costs.
The company reported a net loss of $5.7 million, compared to a net income of $3.1 million in the previous year. The loss was impacted by a $1.8 million loss from the sale of the FeedbackNow product line.
Cash used in operating activities was $3.9 million, compared to $21.7 million generated in 2023. This was primarily due to increased working capital requirements and a decrease in net income.
As of December 31, 2024, Forrester had cash, cash equivalents, and marketable investments totaling $104.7 million, with $35.0 million in outstanding debt.
Forrester's board has authorized a stock repurchase program, with $80.0 million remaining available for future repurchases as of the end of 2024.
The company continues to focus on its strategy of customer obsession to drive growth, with 80% of contract value now in its Forrester Decisions product platform.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Forrester Research Inc. annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.