Financials in USD. Standardized financial statements.
A compact view of how Forrester Research, Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $396.89M | $432.47M | $480.78M | $537.79M | $494.31M | $448.98M | $461.70M | $357.57M | $337.67M | $326.10M |
| Revenue Growth? | -8.2% | -10.0% | -10.6% | +8.8% | +10.1% | -2.8% | +29.1% | +5.9% | +3.6% | 0.0% |
| Cost of Revenue? | $170.72M | $9.65M | $204.48M | $223.77M | $201.81M | $180.90M | $196.73M | $146.50M | $136.87M | $128.18M |
| Gross Profit? | $226.17M | $422.82M | $276.30M | $314.01M | $292.50M | $268.08M | $264.97M | $211.07M | $200.80M | $197.92M |
| Gross Margin? | +57.0% | +97.8% | +57.5% | +58.4% | +59.2% | +59.7% | +57.4% | +59.0% | +59.5% | +60.7% |
| Operating Expenses? | $224.22M | $422.08M | $269.53M | $281.36M | $253.86M | $251.91M | $266.05M | $184.86M | $173.25M | $166.12M |
| Operating Income? | $1.95M | $740,000 | $6.77M | $32.65M | $38.64M | $16.18M | -$1.07M | $22.43M | $27.55M | $30.77M |
| EBITDA? | -$95.28M | $35.83M | $41.41M | $70.10M | $73.35M | $61.23M | $42.24M | $32.64M | $34.80M | $40.44M |
| Income Before Tax | -$119.41M | $2.64M | $6.29M | $30.72M | $33.19M | $12.93M | -$9.60M | $23.52M | $27.37M | $30.71M |
| Income Tax Expense | -$49,000 | $8.38M | $3.23M | $8.92M | $8.35M | $2.94M | -$29,000 | $8.14M | $12.23M | $13.06M |
| Net Income? | -$119.36M | -$5.75M | $3.05M | $21.81M | $24.84M | $9.99M | -$9.57M | $15.38M | $15.14M | $17.65M |
| EPS? | $-6.28 | $-0.30 | $0.16 | $1.15 | $1.30 | $0.53 | $-0.52 | $0.85 | $0.84 | $0.98 |
| Diluted EPS? | $-6.28 | $-0.30 | $0.16 | $1.14 | $1.28 | $0.53 | $-0.52 | $0.84 | $0.83 | $0.97 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality