FORRESTER RESEARCH, INC.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $396.9M | $432.5M | $480.8M | $537.8M | $494.3M | $449.0M | $461.7M |
| Cost of Revenue | — | $170.7M | $182.5M | $198.0M | $212.3M | $182.6M | $162.2M | $178.0M |
| Gross Profit | — | $226.2M | $249.9M | $282.8M | $325.5M | $311.7M | $286.8M | $279.1M |
| Gross Margin | — | 57.0% | 57.8% | 58.8% | 60.5% | 63.1% | 63.9% | 60.5% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | $218.4M | $232.7M | $253.9M | $278.5M | $257.6M | $245.1M | $253.2M |
| Operating Income | — | $-113.2M | $740.0K | $6.8M | $32.7M | $38.6M | $-16.2M | $1.1M |
| Operating Margin | — | -28.5% | 0.2% | 1.4% | 6.1% | 7.8% | -3.6% | 0.2% |
| Interest Expense | — | — | — | — | $2.5M | $4.2M | $5.3M | $8.1M |
| Pretax Income | — | $-119.4M | $2.6M | $6.3M | $30.7M | $33.2M | $12.9M | $-9.6M |
| Income Tax Expense | — | $-49.0K | $8.4M | $3.2M | $8.9M | $8.3M | $2.9M | $-29.0K |
| Net Income | — | $-119.4M | $-5.7M | $3.1M | $21.8M | $24.8M | $10.0M | $-9.6M |
| Net Margin | — | -30.1% | -1.3% | 0.6% | 4.1% | 5.0% | 2.2% | -2.1% |
| EPS (Basic) | — | $-6.28 | $-0.30 | $0.16 | $1.15 | $1.30 | $-0.53 | $0.52 |
| EPS (Diluted) | — | $-6.28 | $-0.30 | $0.16 | $1.14 | $1.28 | $0.53 | $0.52 |
| Shares Outstanding (Basic) | 19.2M | 19.0M | 19.1M | 19.2M | 19.0M | 19.1M | 18.8M | 18.5M |
| Shares Outstanding (Diluted) | 19.2M | 19.0M | 19.1M | 19.3M | 19.2M | 19.4M | 18.9M | 18.5M |
| Dividends Per Share | — | — | — | — | — | — | — | — |