FORR earnings analysis
What we found in FORR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Forrester Research's Q1 2026 results showed total revenues of $85.5 million, marking a 5% decline from Q1 2025. Despite exceeding revenue estimates, the company's diluted EPS was a loss of $0.04, significantly worse than the anticipated loss of $0.10. The management outlined challenges such as declining contract value and consulting revenue, while projecting a revenue outlook with expected declines over the year.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Exceeds Estimates
- Q1 2026 total revenues of $85.5M exceeded the estimate of $83.3M.
- Declining EPS
- The diluted EPS loss was $0.04, compared to an anticipated loss of $0.10.
- Segment Performance in Research
- Research revenues decreased by 2% to $66.9M from $68.4M in the prior year.
- Substantial Client Retention Improvement
- Client retention improved by 5 percentage points year-over-year as of March 31, 2026.
- Cash Flow Stability
- Operating cash flow remained steady at $25.6M, compared to $26.7M in Q1 2025.
- Goodwill Impairment Charge
- A significant goodwill impairment charge of $10.8M was recorded this quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Contract Value
- Contract value decreased by 3% to $285.3 million year-over-year, affecting revenue stability.
- Drop in Consulting Revenue
- Consulting revenues fell by 13% compared to Q1 2025, attributed to reduced client bookings.
- Goodwill Impairment Risk
- Continued scrutiny and potential for further impairment charges due to declining stock price.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.04
- Segment
- Research: $66.9M
- Segment
- Consulting: $18.6M
- Segment
- Events: negligible
What they said about what is next.
Revenue guidance for FY 2026 suggests an expected decline of 11.8% to 9.3% year-over-year.
The filing reads worse than the one before it.
What came before.
- 10-K · March 13, 2026
- Forrester emphasizes a strategy of combining trusted human intelligence with generative AI to drive a “CV growth engine” focused on expanding contract value. The company reports signs of demand pressure — contract value…
- 10-Q · May 12, 2025
- Forrester reported Q1 revenue of $89,876,000, down $10,201,000 (10.2%) from $100,077,000 in Q1 2024. GAAP results were hit by an $83,895,000 goodwill impairment, producing a net loss of $87,272,000 and diluted loss per…
- 10-K · March 7, 2025
- Forrester reiterates a CV-driven subscription strategy centered on its Forrester Decisions product (approximately 80% of CV as of December 31, 2024) and a multi-channel go-to-market of research, consulting and events.…
- 10-Q · May 3, 2024
- Forrester reported Q1 revenue of $100,077,000, down $13,593,000 (≈12.0%) from $113,670,000 a year ago, and GAAP diluted loss per share of $0.35 (net loss $6,673,000), worsening vs. a $0.21 loss in Q1 2023 (net loss…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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