Forrester Research Inc
NASDAQ:FORR
Forrester Research Inc
Forrester Research, Inc. engages in the provision of advisory services. The company is headquartered in Cambridge, Massachusetts and currently employs 1,781 full-time employees. The firm operates through three segments: Research, Consulting, and Events. The Research segment includes research products, as well as consulting from advisory services, such as speeches and advisory days that is delivered by its research organization. The Consulting segment provides a project consulting organization, which delivers its project consulting and certain advisory services. The Events segment is engaged in developing and hosting in-person and virtual events. Its primary subscription research services include Forrester Research, SiriusDecisions Research and Forrester Decisions. The firm hosts multiple events across North America, Europe and the Asia-Pacific region throughout the year. Its subsidiaries include Forrester Germany GmbH, Forrester Hong Kong Limited, Forrester International S.a r.l., Forrester Market Advisory (Beijing) Co., Ltd. and Forrester Research Australia Pty Limited.
Forrester Research, Inc. engages in the provision of advisory services. The company is headquartered in Cambridge, Massachusetts and currently employs 1,781 full-time employees. The firm operates through three segments: Research, Consulting, and Events. The Research segment includes research products, as well as consulting from advisory services, such as speeches and advisory days that is delivered by its research organization. The Consulting segment provides a project consulting organization, which delivers its project consulting and certain advisory services. The Events segment is engaged in developing and hosting in-person and virtual events. Its primary subscription research services include Forrester Research, SiriusDecisions Research and Forrester Decisions. The firm hosts multiple events across North America, Europe and the Asia-Pacific region throughout the year. Its subsidiaries include Forrester Germany GmbH, Forrester Hong Kong Limited, Forrester International S.a r.l., Forrester Market Advisory (Beijing) Co., Ltd. and Forrester Research Australia Pty Limited.
Revenue Decline: Forrester's Q3 2025 revenue was $94.3 million, down 8% year-over-year, with declines across research, consulting, and events.
AI Access Launch: The company launched its new AI Access product, quickly generating significant client interest and securing one of the largest research deals in its history.
Research Stabilization: Research revenue declined 6% (4% excluding divestitures), showing improvement over previous quarters, with client retention stable at 74% and wallet retention up to 86%.
Consulting & Events Challenges: Consulting revenue fell 8% and events revenue was insignificant due to event timing, with both lines facing ongoing headwinds.
Cost Controls Drive Margins: Operating income rose 21% to $9.9 million, with margins increasing to 10.5% of revenue, helped by an 11% reduction in operating expenses.
Guidance Lowered: Full-year 2025 revenue guidance lowered to $395–405 million (down 6%–9% vs. 2024), with operating margin guidance at 7.5%–8.5% and EPS guided to $1.15–$1.25.
Positive Early AI Access Impact: Management highlighted immediate pipeline growth and client enthusiasm for AI Access, expecting it to positively affect Q4 and future contract value.
