secwatch.observer — SEC 8-K summary
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Issuer:     FORRESTER RESEARCH, INC. (FORR)
CIK:        0001023313
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001193125-23-135895
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 2.05, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023313/000119312523135895/0001193125-23-135895-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023313/000119312523135895/d296447d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-135895

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