FORRESTER RESEARCH, INC.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $396.9M | $432.5M | $480.8M | $537.8M | $494.3M |
| Operating income | -$113.2M | $740,000 | $6.8M | $32.7M | $38.6M |
| Cost of revenue | $170.7M | $182.5M | $204.5M | $223.8M | $201.8M |
| Cash from operations | $21.1M | -$3.9M | $21.7M | $39.4M | $107.1M |
| Capital expenditure | $3.0M | $3.4M | $5.5M | $5.7M | $10.7M |
| Free cash flow | $18.1M | -$7.3M | $16.2M | $33.8M | $96.3M |
| Share repurchases | $2.5M | $15.9M | $4.1M | $15.1M | $20.1M |
| Impairments | $110.7M | $4.0M | $0 | $0 | $0 |
| Total assets | $404.0M | $503.9M | $564.2M | $608.4M | $680.1M |
| Total liabilities | $277.5M | $274.3M | $323.9M | $386.8M | $476.2M |
| Total debt | $35.0M | $35.0M | — | — | $75.0M |
Shares outstanding 19.4M
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.