FORRESTER RESEARCH, INC.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Sep 2025 | Jun 2025 | Mar 2025 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $15.3M | $-21.8M | $-2.1M | $3.9M | $-87.3M | $-5.8M | $6.3M | $-6.7M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $1.2M | $1.4M | $1.5M | $1.7M | $1.5M | $2.0M | $2.1M | $2.1M |
| Amortization | $2.1M | $2.1M | $2.2M | $2.2M | $2.2M | $2.4M | $2.5M | $2.5M |
| Stock-Based Compensation | — | $2.7M | — | — | $2.5M | — | — | $3.6M |
| Net Cash from Operating Activities | $-555.0K | $25.6M | $1.2M | $-3.6M | $26.7M | $264.0K | $-2.9M | $611.0K |
| Investing Activities | ||||||||
| Capital Expenditures | $12.0M | $6.2M | $673.0K | $602.0K | $648.0K | $487.0K | $830.0K | $1.4M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | — | $-14.1M | — | — | $-8.5M | — | — | $-7.2M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | $0 | — | — | $4.1M |
| Net Cash from Financing Activities | — | $148.0K | — | — | $235.0K | — | — | $-4.3M |
| Net Change in Cash | — | $10.5M | — | — | $19.6M | — | — | $-11.6M |
| Free Cash Flow | $-12.6M | $19.4M | $524.0K | $-4.2M | $26.1M | $-223.0K | $-3.7M | $-815.0K |