Forrester Research
Delivers subscription research, analyst guidance, consulting, and events for business and technology leaders.
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Profile
Sells recurring access to proprietary research, data, analyst guidance, and AI-assisted tools, complemented by project-based consulting and business events. Research subscriptions form the core recurring business, while consulting engagements and event tickets and sponsorships add nonrecurring revenue.
Provides subscription research and continuous guidance through Forrester Decisions and Forrester Market Insights, pairing proprietary data, benchmarks, vendor evaluations, tools, and analyst access. Forrester AI and the self-service Forrester AI Access offering deliver that research through conversational interfaces and workplace integrations.
Adds fixed-fee consulting projects, content marketing, and standalone advisory services, while Events sells tickets and sponsorships around technology, customer experience, marketing, sales, product, security, and risk. A direct sales force serves clients across North America, Europe, and Asia-Pacific, with selected research also sold online.
Research subscriptions are the core recurring business; Consulting and Events are smaller, complementary segments intended to support contract-value growth. Results depend heavily on retaining and expanding research contracts, while consulting revenue must be replenished with new project work.
Company facts
Categories
Key statistics
Year to date +51.8% · Average volume (30d) 111.7K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $0.27 | $0.40 | +50.9% | $96.9M | $100.2M | +3.4% | +18.07% |
| May 6, 2026Q1 FY26 | $0.12 | −$0.04 | −133.3% | $83.3M | $85.5M | +2.6% | +7.22% |
| Feb 12, 2026Q4 FY25 | $0.21 | $0.17 | −19.0% | $103.3M | $101.1M | −2.1% | −9.66% |
| Oct 30, 2025Q3 FY25 | $0.31 | $0.37 | +19.4% | $103.3M | $94.3M | −8.7% | −12.94% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $89.9M | $111.7M | $94.3M | $101.1M | $85.5M | $100.2M | |
| Gross profit | $50.3M | $62.0M | $56.6M | $57.3M | $46.8M | $56.5M | |
| Operating income | −$3.1M | $7.4M | −$2.1M | −$346.0K | −$5.7M | $3.4M | |
| Net income | −$87.3M | $3.9M | −$2.1M | −$33.9M | −$21.8M | $15.3M | |
| Diluted EPS | −$4.62 | $0.21 | −$0.11 | −$1.78 | −$1.14 | $0.78 | |
| Gross margin | 55.9% | 55.5% | 60.0% | 56.7% | 54.8% | 56.4% | |
| Operating margin | -3.4% | 6.7% | -2.2% | -0.3% | -6.7% | 3.4% |
Fiscal years (4-quarter sums)FY21 $494.3M · FY22 $537.8M · FY23 $480.8M · FY24 $432.5M · FY25 $396.9M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $130.8M · Total debt $64.0M · Total assets $416.5M · Shareholders' equity $121.6M
Dividends
No dividends on record.
Ownership
Shares outstanding 19.41M · Float 10.10M · 52.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| George F. Colony | 7.38M | 38.70% | 13G | Jul 1, 2025 |
| Portolan Capital Management, LLC | 1.62M | 8.37% | 13F | Aug 14, 2026 |
| Nantahala Capital Management, LLC | 763.4K | 3.93% | 13F | Aug 19, 2026 |
| Tieton Capital Management, LLC | 757.5K | 3.90% | 13F | Aug 10, 2026 |
| First Manhattan Co. LLC. | 750.0K | 3.86% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 20, 2026 | Leo Christian Finn | officer: Chief Financial Officer | −7,000 | $11.78 |
| Aug 20, 2026 | Ryan Darrah | officer: Chief Legal Officer | −5,000 | $11.78 |
| Aug 13, 2026 | Carrie Johnson | officer: Chief Product Officer | −5,000 | $11.51 |
Peers
- Gartner
Closest public peer in research, advisory, consulting, and events
- Information Services Group
AI-centered advisory peer in sourcing, benchmarking, and research
- Informa TechTarget
B2B technology intelligence and advisory for vendor go-to-market
- Accenture
Large consulting substitute for digital, AI, and CX programs
- S&P Global
Technology market intelligence through 451 Research
- The Hackett Group
Benchmarking-led advisory and Gen AI consulting substitute
- Alphabet Class A
Google search, cloud AI, and Gemini as information substitutes
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Forrester Research | $12.38 | +0.08% | $240.3M | — | 16.0 | 0.6 | −10.2% |
| Gartner | $198.39 | −0.04% | $13.28B | 17.8 | 12.7 | 2.1 | −0.6% |
| Information Services Group | $5.14 | 0.00% | $245.4M | 21.7 | 17.1 | 1.0 | +6.4% |
| Informa TechTarget | $3.88 | 0.00% | $280.5M | — | — | 0.8 | −3.2% |
| Accenture | $189.20 | −0.17% | $116.03B | 15.1 | 13.2 | 1.6 | +5.6% |
| S&P Global | $442.90 | +0.00% | $130.56B | 27.0 | 23.4 | 8.1 | −2.1% |
| The Hackett Group | $11.37 | +0.26% | $285.6M | 17.4 | 7.4 | 1.0 | −13.4% |
| Alphabet Class A | $346.00 | −0.14% | $4.19T | 17.4 | 25.8 | 9.4 | +24.2% |
| Median | 17.6 | 15.2 | 1.6 | −0.6% |