Forrester Research | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 94.3 M

Revenue: As of FY2025 Q3, the actual value is USD 94.3 M, missing the estimate of USD 99.16 M.

EPS: As of FY2025 Q3, the actual value is USD -0.11, missing the estimate of USD 0.1.

EBIT: As of FY2025 Q3, the actual value is USD -1.005 M.

Research Segment

• Revenues: $72.7 million for the three months ended September 30, 2025, a decrease of 6% from the prior year period.
• Operating Income: $52.9 million for the three months ended September 30, 2025, a decrease of 10% in expenses from the prior year period.

Consulting Segment

• Revenues: $21.5 million for the three months ended September 30, 2025, a decrease of 8% from the prior year period.
• Operating Income: $6.5 million for the three months ended September 30, 2025, a decrease of 7% in expenses from the prior year period.

Events Segment

• Revenues: $0.2 million for the three months ended September 30, 2025, a decrease of 92% from the prior year period.
• Operating Loss: - $1.5 million for the three months ended September 30, 2025, a decrease of 45% in expenses from the prior year period.

Cash Flow

• Operating Cash Flow: $24.3 million for the nine months ended September 30, 2025, compared to - $2.0 million used in the prior year period.

Future Outlook and Strategy

• Core Business Focus: The company is focusing on its contract value (CV) products, which are its most profitable products, with research revenues making up approximately 74% of total revenues for the nine months ended September 30, 2025.
• Non-Core Business: The company completed the sale of a non-core product line, FeedbackNow, in August 2024, which impacted revenues.
• Priority: The company is focusing on improving client retention and wallet retention metrics, which are key to understanding its research business.