Forrester Research, Inc. income statement

In fiscal 2025, Forrester Research, Inc. reported revenue of $397m, down 8.2% on the year before, operating income of −$113m (a -28.5% margin) and net income of −$119m, or −$6.28 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Forrester Research, Inc.: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	233	251	284	293	326	338	358	462	449	494	538	481	432	397	381
Cost of revenue	—	—	—	107	112	119	129	178	162	183	212	198	183	171	164
Gross profit	—	—	—	186	214	219	229	279	287	312	326	283	250	226	217
Selling, general and administrative	—	131	147	151	181	191	201	253	245	258	279	254	233	218	212
Selling and marketing	72	—	—	—	—	—	—	—	—	—	—	—	—	—	—
General and administrative	28	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating income	32	31	37	31	31	28	22	1	−16	39	33	7	1	−113	−48
Interest expense	—	—	—	—	—	—	—	8	5	4	2	—	—	—	—
Net interest income	—	—	—	—	—	—	—	—	—	−4	−2	−3	−3	−3	−3
Provision for credit losses	—	—	—	—	—	—	—	—	—	—	—	0	0	7	7
Income before tax	34	34	37	32	31	27	24	−10	13	33	31	6	3	−119	−54
Income tax	15	14	15	6	13	12	8	−0	3	8	9	3	8	−0	−11
Net income	19	21	22	26	18	15	15	−10	10	25	22	3	−6	−119	−43
Diluted EPS	$0.82	$0.89	$0.95	$1.15	$0.97	$0.83	$0.84	$0.52	$0.53	$1.28	$1.14	$0.16	−$0.30	−$6.28	−$2.22
Diluted shares (average)	23m	23m	23m	23m	18m	18m	18m	18m	19m	19m	19m	19m	19m	19m	19m
EBITDA	37	34	42	40	39	34	30	10	−6	48	42	15	8	−107	−42

US$ millions unless shown otherwise. Fiscal quarters.

Forrester Research, Inc.: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	103	108	90	112	94	101	85	100
Cost of revenue	41	48	40	50	38	44	39	44
Gross profit	62	60	50	62	57	57	47	57
Selling, general and administrative	57	63	53	55	51	59	52	50
Operating income	−1	−1	−88	7	4	−37	−19	3
Net interest income	−1	−1	−1	−1	−1	−1	−1	−0
Provision for credit losses	0	0	1	0	6	0	0	1
Income before tax	−1	1	−88	7	−2	−37	−19	3
Income tax	5	0	−1	3	0	−3	3	−12
Net income	−6	0	−87	4	−2	−34	−22	15
Diluted EPS	−$0.30	$0.02	−$4.62	$0.20	−$0.11	−$1.79	−$1.14	$0.78
EBITDA	1	1	−86	9	6	−36	−17	5

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Forrester Research, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Forrester Research, Inc.