Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
FORRESTER RESEARCH, INC. reported first quarter ended March 31, 2023 results: revenue $113.7 million, net income net loss was $4.1 million, EPS loss per share was $0.21.
- Period
- first quarter ended March 31, 2023
- Revenue
- $113.7 million
- Net income
- net loss was $4.1 million
- EPS
- loss per share was $0.21
- Result
- reported results
Exact text from the filing
Total revenues for the first quarter of 2023 were $113.7 million, compared with $125.0 million for the comparable quarter in 2022. On a GAAP basis, net loss was $4.1 million, or $0.21 per diluted share
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
FORRESTER RESEARCH, INC. announced a restructuring with charges of approximately $7.3 million to $8.0 million affecting various geographies and functions (approximately 8% of its employees).
- Type
- restructuring
- Charge
- approximately $7.3 million to $8.0 million
- Affected area
- various geographies and functions
- Headcount
- approximately 8% of its employees
Exact text from the filing
On May 4, 2023, the Company announced a reduction in its workforce of approximately 8% of its employees across various geographies and functions. Notification to affected persons commenced May 1, 2023 and is expected to be completed by May 26, 2023. The Company expects to incur pre-tax expenses of approximately $7.3 million to $8.0 million in the second quarter of 2023 related principally to cash severance and related benefit costs for terminated employees. The Company also plans to close certain of its smaller offices both inside and outside the United States. The Company anticipates total costs for this action to be approximately $2.0 million to $2.3 million, consisting primarily of non-cash lease impairment costs. In addition, the Company expects to incur approximately $0.7 million for contract termination costs.
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