Forrester Sees Q4 and Full Year Revenue Fall

US-based tech specialist Forrester Research has reported a 3.02% drop in fourth quarter revenue to $120.5m. For the full-year, total revenues were $449.0m, down from $461.7m in 2019.

Quarterly Research division revenue fell from $79.3m to $75.3m, while the Events segment dropped from $7.4m in Q4 2019 to $3.8m; however the Consulting division saw a rise from $37.5m to $41.3m.

Fourth quarter adjusted revenues, which exclude the deferred revenue from the acquisition of SiriusDecisions, were $120.6m, compared with $125.1m for the fourth quarter of 2019. On a GAAP basis, net income was $2.4m, against net income of $4.9m for the same period in 2019. On an adjusted basis, net income was $6.6m, against $10.7m for the same period in 2019.

Commenting on the results, Chairman and CEO George Colony (pictured) said: 'Forrester had a strong finish to the year despite challenging macroeconomic conditions. After the uncertainty of Q2, company momentum built in Q3 and Q4, with rising engagement across our research, consulting and events businesses. We exceeded revenue and EPS guidance for the quarter and head into 2021 with healthy cash flow and a solid balance sheet. In 2021, the company is laser-focused on increasing research contract value bookings at double-digit rates - that is job number one'.

Web site: www.forrester.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.