Forrester Reports on Tough Year with Revenue Down 10%

Technology research and consulting group Forrester Research has announced fourth-quarter and full-year financial results for 2024, Total revenues were $432.5m, down 10.0% year-on-year, while adjusted net income was $28.1m, down from $36.6m the previous year.

Revenues in the Research division fell by less, down 5.3% for the year to $316.7m, while Consulting fell 17.7% to $97.3m and Events dropped more than a third to $18.5m. Total revenues for the fourth quarter of 2024 were $108.0m, down from $118.1m a year earlier. For the full year 2025 Forrester is forecasting a further decline, to $400m to $415m in revenue, with an operating margin of c.1.8% to 2.8% GAAP, 8 to 9% adjusted.

Chairman and CEO George F. Colony (pictured) says the results 'pose challenges' and pointed to a restructuring exercise announced last month to improve cost efficiency. He states: 'The company is focused on three initiatives in 2025 - increasing retention rates, driving growth across both existing and new accounts, and supercharging our events to make them a more effective platform for CV growth. We are turning from the three-year product transition to being laser-focused on operating the new Forrester model. We are a resilient business and see 2025 as a year to deliver steady improvements across all three lines of business, which will set us up to return to CV growth'.

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.