NASDAQ$FORR

Forrester Research Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Forrester's fourth quarter performance reflected a strong finish to the year despite challenging macroeconomic conditions.

Forrester Research reported Q4 2020 revenues of $120.5 million, compared to $124.3 million in Q4 2019. Net income was $2.4 million, or $0.13 per diluted share, compared to $4.9 million, or $0.26 per diluted share for the same period in 2019.

  • Total revenues were $120.5 million for the fourth quarter of 2020, compared with $124.3 million for the fourth quarter of 2019.
  • On a GAAP basis, net income was $2.4 million, or $0.13 per diluted share, for the fourth quarter of 2020, compared with net income of $4.9 million, or $0.26 per diluted share, for the same period in 2019.
  • On an adjusted basis, net income was $6.6 million, or $0.35 per diluted share, for the fourth quarter of 2020.
  • The company is laser-focused on increasing research contract value bookings at double-digit rates in 2021.

Headline financials

Total Revenue

$121M

Previous: $124M-3.0%
EPS (adj)

$0.35

Previous: $0.57-38.6%
Client retention

65.0%

Previous: 72.0%-9.7%
Capital Expenditures

$1.63M

Previous: $3.53M-53.9%
Free Cash Flow

$16.9M

Previous: -$744K+2375.4%
Net Income

$2.4M

Previous: $4.9M-51.0%
Operating Income

$4.05M

Previous: $6.83M-40.7%
Gross Profit

$73.1M

Previous: $74.2M-1.5%
Cash & Equivalents

$90.3M

Previous: $67.9M+32.9%
Total Assets

$644M

Previous: $639M+0.8%
Stock-Based Comp

$2.91M

Previous: $3.08M-5.4%

Revenue & EPS history

Forrester · Revenue · Quarterly

$121M

Q4 2020-3%vs Q4 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Forrester · $121M total across 3 segments · Q4 2020

  • Research
    $75.3M-5.1%
  • Consulting
    $41.4M-8.0%
  • Events
    $3.88M

Forward guidance

Forrester is providing first-quarter 2021 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 Q4 2020

Historical avgQ4 2020

-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

Earnings price reactions
QuarterReport dateReaction (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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