FORRESTER RESEARCH, INC.

For the period ended Dec 31, 2025. Filed Mar 13, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 13, 2026

FORR$8.90+0.8%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

(In thousands, except per share data)

	Years Ended December 31,
	2025	2024	2023
Revenues:
Research	$295,607	$316,739	$334,396
Consulting	88,192	97,254	118,228
Events	13,089	18,477	28,155
Total revenues	396,888	432,470	480,779
Operating expenses:
Cost of services and fulfillment	170,717	182,534	204,484
Selling and marketing	149,479	159,621	167,352
General and administrative	52,664	58,818	68,497
Depreciation	6,025	7,561	8,452
Amortization of intangible assets	8,745	9,648	11,956
Goodwill impairment	110,707	—	—
Restructuring costs	11,724	11,773	13,272
Loss from sale of divested operation	—	1,775	—
Total operating expenses	510,061	431,730	474,013
Income (loss) from operations	(113,173)	740	6,766
Interest expense	(2,680)	(3,011)	(3,060)
Other income, net	3,752	4,094	2,371
Credit loss expense on note receivable	(7,310)	—	—
Gains on investments, net	2	814	208
Income (loss) before income taxes	(119,409)	2,637	6,285
Income tax expense (benefit)	(49)	8,384	3,235
Net income (loss)	$(119,360)	$(5,747)	$3,050
Basic income (loss) per common share	$(6.28)	$(0.30)	$0.16
Diluted income (loss) per common share	$(6.28)	$(0.30)	$0.16
Basic weighted average common shares outstanding	19,017	19,094	19,183
Diluted weighted average common shares outstanding	19,017	19,094	19,258

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.