Forrester Research ( (FORR) ) has released its Q3 earnings. Here is a breakdown of the information Forrester Research presented to its investors.
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Forrester Research, Inc., a leading research and advisory firm, specializes in guiding leaders across various functions such as technology, digital, and marketing to accelerate growth by focusing on customer obsession.
In its third-quarter earnings report for 2024, Forrester Research revealed a decline in contract value and total revenues compared to the previous year, although the company remains optimistic about its strategic initiatives and platform improvements.
The company reported a contract value of $315.2 million, a 5% decrease from the previous year, and total revenues of $102.5 million, down from $113.4 million in the same quarter of 2023. Forrester also posted a GAAP net loss of $5.8 million, contrasting with a net income of $2.5 million in the prior year. On an adjusted basis, the net income stood at $5.6 million, demonstrating the impact of strategic financial adjustments.
Despite the financial challenges, Forrester is on track to exceed its target of moving 80% of its contract value to the Forrester Decisions platform by the end of the year and is maintaining its guidance for revenue, margin, and EPS for the full year. The company aims to enhance its platform and improve market strategies, looking forward to stronger performance in the coming quarters.
Forrester’s management remains focused on delivering a robust fourth quarter to set the foundation for improved contract value performance in 2025, aligning with their strategic goals and market improvements.
