---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-135895"
form_type: "8-K"
ticker: "FORR"
cik: "0001023313"
company_name: "FORRESTER RESEARCH, INC."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T19:24:53.905984+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Forrester Q1 revenue down 9% to $113.7M, GAAP loss; cuts 8% workforce, CEO salary to $1

## Summary
- Q1 GAAP net loss $4.1M ($0.21 loss per share) vs $4.1M net income ($0.22 EPS) a year ago; adjusted EPS $0.27 down from $0.45.
- Workforce reduction of ~8% across geographies/functions; expects Q2 2023 pre-tax severance costs of $7.3M-$8.0M.
- Office closures estimated at $2.0M-$2.3M (mostly non-cash lease impairment); contract termination costs ~$0.7M.
- CEO George Colony reduces base salary to $1 annually for remainder of 2023.
- FY 2023 guidance: revenue $475-495M; adjusted EPS $2.00-$2.20; GAAP EPS $0.24-$0.44.

## SEC filing metadata
- accession: 0001193125-23-135895
- form_type: 8-K
- ticker: FORR
- cik: 0001023313
- company_name: FORRESTER RESEARCH, INC.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023313/000119312523135895/0001193125-23-135895-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023313/000119312523135895/d296447d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-135895
- JSON: https://secwatch.observer/filing/0001193125-23-135895.json
- Plain text: https://secwatch.observer/filing/0001193125-23-135895.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023313/000119312523135895/0001193125-23-135895-index.htm
- Restructurings & Charges
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023313/000119312523135895/0001193125-23-135895-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.