Forrester Q1 revenue down 12% to $100.1M; net loss widens; board adds $25M buyback

FORRESTER RESEARCH, INC.

2024-Q1 EPS reported -$0.35 revenue$100,077,000

Q1 revenue $100.1M (-12% YoY); GAAP net loss $6.7M ($0.35 loss per share) vs $4.1M loss a year ago.
Adjusted net income $2.8M ($0.14 per share) vs $5.1M ($0.27) in Q1 2023; CV fell 4% to $323.1M.
CEO cites 'challenging environment' with consulting headwinds; 70% of CV now on Forrester Decisions platform.
Board increased stock repurchase authorization by $25M to $89M total available.
2024 guidance reaffirmed: revenue $430-450M, adjusted EPS $1.50-$1.70.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FORRESTER RESEARCH, INC. reported the first quarter ended March 31, 2024 results: revenue $100.1 million, net income $6.7 million, or $0.35 per diluted share, EPS $0.35 per diluted share. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $100.1 million
Net income: $6.7 million, or $0.35 per diluted share
EPS: $0.35 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

to see Forrester Decisions momentum gather as we progress through the year and into 2025.” First-Quarter Consolidated Results Total revenues for the first quarter of 2024 were $100.1 million, compared with $113.7 million for the comparable quarter in 2023. The company also announced that its board of directors authorized a $25 million increase in the company’s stock

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Source: SEC EDGAR

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