Revenue: As of FY2026 Q2, the actual value is USD 100.23 M, beating the estimate of USD 96.91 M.

EPS: As of FY2026 Q2, the actual value is USD 0.78, beating the estimate of USD 0.11.

EBIT: As of FY2026 Q2, the actual value is USD 3.784 M.

Forrester Research, Inc. reported its financial results for the second quarter and six months ended June 30, 2026, maintaining its full-year 2026 guidance. The company utilizes adjusted financial results, excluding items such as amortization of intangibles, gains and losses from investments, credit loss expense, goodwill impairment charges, stock-based compensation expense, and restructuring costs, for consistent quarter-over-quarter and year-over-year comparisons .

Second-Quarter Consolidated Results (Three Months Ended June 30)

• Total Revenues: Total revenues for Q2 2026 were $100.2 million, a decrease from $111.7 million in Q2 2025 .
  • Research Revenue: $71,708 thousand in Q2 2026, down from $77,926 thousand in Q2 2025 .
  • Consulting Revenue: $20,042 thousand in Q2 2026, down from $23,493 thousand in Q2 2025 .
  • Events Revenue: $8,483 thousand in Q2 2026, down from $10,240 thousand in Q2 2025 .
• Net Income (GAAP): Net income was $15.3 million in Q2 2026, significantly up from $3.9 million in Q2 2025 .
• Adjusted Net Income: Adjusted net income was $7.7 million in Q2 2026, compared to $9.8 million in Q2 2025 .
• Income (Loss) from Operations (GAAP): Income from operations was $3,398 thousand in Q2 2026, down from $6,956 thousand in Q2 2025 .
• Adjusted Income from Operations: Adjusted income from operations was $10,439 thousand in Q2 2026, compared to $13,650 thousand in Q2 2025 .
• Operating Expenses:
  • Cost of services and fulfillment: $43,717 thousand in Q2 2026, down from $49,654 thousand in Q2 2025 .
  • Selling and marketing: $34,668 thousand in Q2 2026, down from $37,314 thousand in Q2 2025 .
  • General and administrative: $13,109 thousand in Q2 2026, down from $13,368 thousand in Q2 2025 .
  • Depreciation: $1,194 thousand in Q2 2026, down from $1,659 thousand in Q2 2025 .
  • Amortization of intangible assets: $2,081 thousand in Q2 2026, down from $2,217 thousand in Q2 2025 .
  • Restructuring costs: $2,066 thousand in Q2 2026, up from $491 thousand in Q2 2025 .

Six-Months Ended Consolidated Results (June 30)

• Total Revenues: Total revenues for the six months ended June 30, 2026, were $185,687 thousand, down from $201,535 thousand in the same period of 2025 .
  • Research Revenue: $138,598 thousand in 2026, down from $146,340 thousand in 2025 .
  • Consulting Revenue: $38,624 thousand in 2026, down from $44,929 thousand in 2025 .
  • Events Revenue: $8,465 thousand in 2026, down from $10,266 thousand in 2025 .
• Net Loss (GAAP): Net loss was - $6,572 thousand in 2026, significantly improved from - $83,359 thousand in 2025 .
• Adjusted Net Income: Adjusted net income was $7,014 thousand in 2026, compared to $11,802 thousand in 2025 .
• Loss from Operations (GAAP): Loss from operations was - $15,232 thousand in 2026, improved from - $80,635 thousand in 2025 .
• Adjusted Income from Operations: Adjusted income from operations was $9,555 thousand in 2026, compared to $16,150 thousand in 2025 .

Balance Sheet Data (as of June 30)

• Cash, Cash Equivalents, and Marketable Investments: $130,832 thousand in 2026, up from $127,656 thousand as of December 31, 2025 .
• Accounts Receivable, Net: $36,108 thousand in 2026, down from $50,850 thousand as of December 31, 2025 .
• Deferred Revenue: $147,328 thousand in 2026, up from $141,812 thousand as of December 31, 2025 .
• Debt Outstanding: $35,000 thousand in 2026, consistent with $35,000 thousand as of December 31, 2025 .

Cash Flow Data (Six Months Ended June 30)

• Net Cash Provided by Operating Activities: $25,023 thousand in 2026, up from $23,096 thousand in 2025 .
• Purchases of Property and Equipment: - $18,238 thousand in 2026, significantly higher than - $1,250 thousand in 2025 .
• Repurchases of Common Stock: - $956 thousand in 2026, up from - $44 thousand in 2025 .

Key Operational Metrics (as of June 30)

• Contract Value: $283,200 thousand in 2026, down from $292,800 thousand in 2025 .
• Client Retention: 77% in 2026, up from 74% in 2025 .
• Wallet Retention: 89% in 2026, up from 85% in 2025 .
• Number of Clients: 1,770 in 2026, down from 1,805 in 2025 .
• Total Headcount: 1,361 in 2026, down from 1,465 in 2025 .
• Sales Force Headcount: 511 in 2026, down from 540 in 2025 .

Outlook / Guidance for Full-Year 2026

Forrester Research, Inc. is maintaining its guidance for 2026, projecting total revenues of approximately $350.0 million to $360.0 million, representing a decline of 11.8% to 9.3% versus the prior year . The company anticipates a GAAP operating margin of approximately -3.5% to -3.0% and an adjusted operating margin of approximately 6.0% to 6.5% . They also project a GAAP diluted loss per share of approximately - $0.84 to - $0.74 and an adjusted diluted earnings per share of approximately $0.72 to $0.82 .