FORRESTER RESEARCH, INC.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 10, 2025
FORR$8.83+1.5%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data, unaudited)
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $65,121 | $56,087 |
| Marketable investments | 66,831 | 48,582 |
| Accounts receivable, net of allowance for expected credit losses of $310 and $434 as of September 30, 2025 and December 31, 2024, respectively | 33,588 | 55,490 |
| Deferred commissions | 16,436 | 22,942 |
| Prepaid expenses and other current assets | 11,662 | 18,263 |
| Total current assets | 193,638 | 201,364 |
| Property and equipment, net | 9,702 | 11,699 |
| Operating lease right-of-use assets | 31,885 | 27,049 |
| Goodwill | 147,195 | 227,959 |
| Intangible assets, net | 20,824 | 27,475 |
| Other assets | 10,937 | 8,316 |
| Total assets | $414,181 | $503,862 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current Liabilities: | ||
| Accounts payable | $1,824 | $965 |
| Accrued expenses and other current liabilities | 39,034 | 57,602 |
| Deferred revenue | 141,246 | 145,404 |
| Total current liabilities | 182,104 | 203,971 |
| Long-term debt | 35,000 | 35,000 |
| Non-current operating lease liabilities | 31,792 | 24,809 |
| Other non-current liabilities | 7,613 | 10,545 |
| Total liabilities | 256,509 | 274,325 |
| Commitments and contingencies (Note 17) | ||
| Stockholders' Equity: | ||
| Preferred stock, $0.01 par value | ||
| Authorized - 500 shares; issued and outstanding - none | — | — |
| Common stock, $0.01 par value | ||
| Authorized - 125,000 shares | ||
| Issued - 25,511 and 25,119 shares as of September 30, 2025 and December 31, 2024, respectively | ||
| Outstanding - 18,989 and 18,838 shares as of September 30, 2025 and December 31, 2024, respectively | 255 | 251 |
| Additional paid-in capital | 301,755 | 292,217 |
| Retained earnings | 86,449 | 171,934 |
| Treasury stock - 6,522 and 6,282 shares as of September 30, 2025 and December 31, 2024, respectively | (229,615) | (227,119) |
| Accumulated other comprehensive loss | (1,172) | (7,746) |
| Total stockholders’ equity | 157,672 | 229,537 |
| Total liabilities and stockholders’ equity | $414,181 | $503,862 |
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