NASDAQ$FORR
Forrester Research Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Forrester's third quarter results in 2024 were announced, revealing a decrease in revenue and a net loss compared to the previous year, alongside a decline in contract value. However, the company is making progress with its product migration and maintains its guidance for the year.
Forrester Research reported a decrease in revenue to $102.5 million for Q3 2024, compared to $113.4 million in Q3 2023. The company experienced a net loss of $5.8 million, or $0.30 per diluted share, compared to a net income of $2.5 million, or $0.13 per diluted share, in the same period last year. Contract value decreased by 5% year-over-year to $315.2 million.
- Forrester's Q3 2024 revenue decreased to $102.5 million from $113.4 million in Q3 2023.
- The company reported a net loss of $5.8 million, or $0.30 per diluted share, compared to a net income of $2.5 million, or $0.13 per diluted share, in the same quarter last year.
- Contract value (CV) decreased by 5% year-over-year, reaching $315.2 million.
- Forrester is progressing with its product migration, aiming for 80% of CV on the Forrester Decisions platform by year-end.
Headline financials
Revenue & EPS history
Forrester · Revenue · Quarterly
$103M
Revenue by segment
Forrester · $113M total across 3 segments · Q3 2023
- Research$80.6M-7.4%71.1%
- Consulting$28.2M-24.5%24.9%
- Events$4.59M+40.8%4.0%
Forward guidance
Forrester is providing full-year 2024 guidance, including total revenues between approximately $425 million and $435 million and adjusted diluted earnings per share of approximately $1.37 to $1.57.
Tailwinds
- Total revenues of approximately $425 million to $435 million
- Operating margin of approximately 0.5% to 1.5%
- Adjusted operating margin of approximately 8.5% to 9.5%
- Adjusted effective tax rate of approximately 29%
- Adjusted diluted earnings per share of approximately $1.37 to $1.57
Headwinds
- Interest expense of approximately $3.0 million
- Effective tax rate of approximately 135% to 270%
- Loss per share of approximately $0.24 to $0.04
- Exclusion of stock-based compensation expense of $14.2 million to $14.7 million from adjusted financial guidance
- Exclusion of restructuring costs of approximately $7.6 million from adjusted financial guidance
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-2.0%
Avg return
Earnings day
-3.2%
Avg return
5 days after
-1.7%
Avg return
30 days after
38%
25 / 65 earnings
Positive
+8.9%
Q3 2024
Best reaction
-16.0%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.9% | +4.3% | +14.9% | |
| Q4 2025 | -9.7% | -7.1% | -3.9% | |
| Q3 2025 | +2.9% | +0.1% | -12.5% | |
| Q1 2025 | +3.7% | +7.6% | +9.9% | |
| Q4 2024 | -12.1% | -12.5% | -33.0% | |
| Q3 2024 | +8.9% | +10.6% | +15.0% | |
| Q2 2024 | +6.6% | +0.5% | +1.5% | |
| Q1 2024 | -6.8% | -3.7% | -2.5% | |
| Q4 2023 | -8.1% | -14.2% | -12.4% | |
| Q3 2023 | -4.2% | -11.6% | -3.0% | |
| Q2 2023 | +1.0% | +3.2% | -1.1% | |
| Q1 2023 | -15.8% | -14.7% | -0.3% | |
| Q4 2022 | -16.0% | -13.5% | -15.9% | |
| Q3 2022 | -15.8% | -20.4% | -14.2% | |
| Q2 2022 | -7.3% | -7.1% | -16.7% | |
| Q1 2022 | -2.9% | -8.5% | -7.5% | |
| Q4 2021 | -3.8% | -2.2% | -6.3% | |
| Q3 2021 | +5.4% | +9.1% | +5.4% | |
| Q2 2021 | +5.4% | -1.3% | +3.9% | |
| Q1 2021 | +4.3% | +3.5% | -4.1% | |
| Q4 2020 | -3.8% | -4.4% | +0.7% | |
| Q3 2020 | +3.0% | +9.0% | +20.6% | |
| Q2 2020 | +7.6% | +9.2% | +10.5% | |
| Q1 2020 | +3.5% | -10.8% | +13.1% | |
| Q4 2019 | -2.4% | -4.9% | -31.6% | |
| Q3 2019 | -1.0% | -1.2% | +9.8% | |
| Q2 2019 | -13.9% | -21.7% | -29.2% | |
| Q1 2019 | -1.0% | +1.6% | -9.9% | |
| Q4 2018 | +1.4% | +4.2% | +6.5% | |
| Q3 2018 | -7.3% | -4.3% | +7.3% | |
| Q2 2018 | -0.9% | +2.8% | +14.2% | |
| Q1 2018 | -10.0% | -10.2% | -7.6% | |
| Q4 2017 | -3.7% | -5.8% | +0.2% | |
| Q3 2017 | +0.5% | -0.8% | +6.3% | |
| Q2 2017 | -1.4% | -1.6% | -2.1% | |
| Q1 2017 | -1.0% | -2.0% | -3.2% | |
| Q4 2016 | -12.3% | -10.8% | -8.2% | |
| Q3 2016 | -3.6% | +0.4% | +10.5% | |
| Q2 2016 | +8.1% | +5.8% | +8.2% | |
| Q1 2016 | -4.3% | — | — | |
| Q4 2015 | +2.3% | — | — | |
| Q3 2015 | +3.3% | — | — | |
| Q2 2015 | -5.3% | — | — | |
| Q1 2015 | -4.2% | — | — | |
| Q4 2014 | +0.3% | — | — | |
| Q3 2014 | -3.1% | — | — | |
| Q2 2014 | +0.4% | — | — | |
| Q1 2014 | +5.9% | — | — | |
| Q4 2013 | -2.0% | — | — | |
| Q3 2013 | -1.3% | — | — | |
| Q2 2013 | -6.4% | — | — | |
| Q1 2013 | +1.1% | — | — | |
| Q4 2012 | -4.6% | — | — | |
| Q3 2012 | +1.0% | — | — | |
| Q2 2012 | -12.1% | — | — | |
| Q1 2011 | -1.9% | — | — | |
| Q1 2012 | +5.3% | — | — | |
| Q4 2009 | +0.1% | — | — | |
| Q4 2011 | +0.1% | — | — | |
| Q3 2011 | -1.0% | — | — | |
| Q3 2010 | -1.0% | — | — | |
| Q2 2010 | -1.0% | — | — | |
| Q2 2011 | -1.0% | — | — | |
| Q4 2010 | -1.0% | — | — | |
| Q1 2010 | +5.0% | — | — |
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