While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they bel ...

Investors in Forrester Research, Inc. (FORR) need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 20, 2024 $15 Call had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It cou ...

For the quarter ended June 2024, Forrester Research (FORR) reported revenue of $121.83 million, down 10.2% over the same period last year. EPS came in at $0.68, compared to $0.94 in the year-ago quarter. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Revenue- Research : $38.16 million compared to the $32.99 million ave ...

Core Viewpoint - Forrester Research reported quarterly earnings of $0.68 per share, missing the Zacks Consensus Estimate of $0.70 per share, and showing a decline from $0.94 per share a year ago, indicating a negative earnings surprise of -2.86% [1] Financial Performance - Forrester Research posted revenues of $121.83 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.51%, but down from $135.59 million year-over-year [2] - The company has exceeded consensus revenue estimates two times over the last four quarters [2] Stock Performance - Forrester Research shares have declined approximately 29.4% since the beginning of the year, contrasting with the S&P 500's gain of 14.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.40 on revenues of $104.22 million, and for the current fiscal year, it is $1.58 on revenues of $440.24 million [7] - The trend of estimate revisions for Forrester Research is mixed, which may change following the recent earnings report [6] Industry Context - The Computer - Services industry, to which Forrester Research belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting potential challenges ahead [8]

[Press Release Overview](index=1&type=section&id=Press%20Release%20Overview) This section provides an overview of Forrester Research's Q2 2024 financial results and key announcements [Headline and Initial Announcement](index=1&type=section&id=Headline%20and%20Initial%20Announcement) Forrester Research announced its Q2 2024 financial results on July 30, 2024, reporting a 3% year-over-year decrease in contract value (CV) to $323.0 million - Forrester Research announced Q2 2024 financial results on July 30, 2024[13](index=13&type=chunk) Contract Value (CV) Overview | Metric | Q2 2024 | | :----- | :------ | | Contract Value (CV) | $323.0 million | | YoY Change | **-3%** | [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO George F. Colony discussed product migration progress, stabilizing CV metrics, and challenges in non-CV businesses, leading to revised 2024 guidance - Product migration to Forrester Decisions platform is on track, targeting **80% of CV by year-end**[6](index=6&type=chunk) - CV metrics are **stabilizing**, and retention shows **improvement** from the prior quarter[6](index=6&type=chunk) - Non-CV businesses (consulting and events) had a challenging quarter, leading to **lowered 2024 guidance**[6](index=6&type=chunk) - Company is focused on stabilizing non-CV businesses and confident in **returning to CV growth by year-end**[6](index=6&type=chunk) [Second Quarter 2024 Financial Performance](index=1&type=section&id=Second-Quarter%20Consolidated%20Results) This section details Forrester's consolidated financial results for the second quarter of 2024, including income statements, balance sheet, and cash flow data Total Revenues (Q2 2024 vs Q2 2023) | Metric | Q2 2024 (in thousands) | Q2 2023 (in thousands) | YoY Change | | :----- | :--------------------- | :--------------------- | :--------- | | Total Revenues | $121,825 | $135,589 | **-10.15%** | Income from Operations (Q2 2024 vs Q2 2023) | Metric | Q2 2024 (in thousands) | Q2 2023 (in thousands) | YoY Change | | :----- | :--------------------- | :--------------------- | :--------- | | Income from Operations | $11,314 | $8,288 | **+36.51%** | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Forrester reported its consolidated income statement for Q2 2024, showing a GAAP net income increase for the quarter but a net loss for the six-month period, with adjusted net income decreasing [GAAP Results](index=1&type=section&id=GAAP%20Results) GAAP net income for Q2 2024 increased to $6.3 million, while the six-month period reported a net loss GAAP Net Income & EPS (Q2 2024 vs Q2 2023) | Metric | Q2 2024 | Q2 2023 | YoY Change | | :----- | :------ | :------ | :--------- | | Net Income | $6.3 million | $5.3 million | **+18.87%** | | Diluted EPS | $0.33 | $0.28 | **+17.86%** | GAAP Net Income & EPS (Six Months Ended June 30) | Metric | 2024 | 2023 | Change | | :----- | :--- | :--- | :----- | | Net Income (loss) | $(381) thousand | $1,229 thousand | **-131.00%** | | Diluted EPS | $(0.02) | $0.06 | **-133.33%** | [Adjusted Results](index=1&type=section&id=Adjusted%20Results) Adjusted net income for Q2 2024 decreased to $12.9 million, with a consistent adjusted effective tax rate Adjusted Net Income & EPS (Q2 2024 vs Q2 2023) | Metric | Q2 2024 | Q2 2023 | YoY Change | | :----- | :------ | :------ | :--------- | | Adjusted Net Income | $12.9 million | $18.1 million | **-28.69%** | | Adjusted Diluted EPS | $0.68 | $0.94 | **-27.66%** | - Adjusted net income excludes stock-based compensation, amortization of acquisition-related intangible assets, and restructuring costs[14](index=14&type=chunk)[19](index=19&type=chunk) [Revenue Breakdown](index=1&type=section&id=Revenue%20Breakdown) Total revenues for Q2 2024 decreased by 10.15% year-over-year, with declines across all segments Revenue by Segment (Q2 2024 vs Q2 2023, in thousands) | Segment | Q2 2024 | Q2 2023 | YoY Change | | :------ | :------ | :------ | :--------- | | Research | $83,663 | $87,699 | **-4.61%** | | Consulting | $24,811 | $29,970 | **-17.21%** | | Events | $13,351 | $17,920 | **-25.50%** | | **Total Revenues** | **$121,825** | **$135,589** | **-10.15%** | [Operating Expenses](index=4&type=section&id=Operating%20Expenses) Total operating expenses decreased by 13.19% year-over-year in Q2 2024, primarily due to reduced restructuring costs Key Operating Expenses (Q2 2024 vs Q2 2023, in thousands) | Expense Category | Q2 2024 | Q2 2023 | YoY Change | | :--------------- | :------ | :------ | :--------- | | Cost of services and fulfillment | $51,164 | $54,614 | **-6.32%** | | Selling and marketing | $40,253 | $41,581 | **-3.20%** | | General and administrative | $14,437 | $15,315 | **-5.73%** | | Amortization of intangible assets | $2,513 | $3,068 | **-18.10%** | | Restructuring costs | $82 | $10,532 | **-99.22%** | | **Total Operating Expenses** | **$110,511** | **$127,301** | **-13.19%** | [Key Financial Data](index=6&type=section&id=Key%20Financial%20Data) This section presents key balance sheet and cash flow data as of June 30, 2024, including changes in cash, receivables, and operating cash flow - Contract value (CV) was **$323.0 million** as of June 30, 2024, compared to **$333.2 million** (recast) as of June 30, 2023[13](index=13&type=chunk)[20](index=20&type=chunk) - Client retention was **74%** and wallet retention was **89%** as of June 30, 2023[20](index=20&type=chunk) - Total headcount was **1,793** and sales force was **616** as of June 30, 2023[20](index=20&type=chunk) [Balance Sheet Data](index=6&type=section&id=Balance%20Sheet%20Data) Cash, cash equivalents, and marketable investments decreased, while deferred revenue increased, and debt remained stable Balance Sheet Highlights (as of June 30, 2024 vs Dec 31, 2023, in thousands) | Metric | June 30, 2024 | Dec 31, 2023 | Change | | :----- | :------------ | :----------- | :----- | | Cash, cash equivalents and marketable investments | $110,813 | $124,489 | **-10.99%** | | Accounts receivable, net | $47,702 | $58,999 | **-19.15%** | | Deferred revenue | $164,117 | $156,798 | **+4.67%** | | Debt outstanding | $35,000 | $35,000 | **0.00%** | [Cash Flow Data](index=6&type=section&id=Cash%20Flow%20Data) Net cash provided by operating activities was negative for Q2 2024, and the company repurchased a significant amount of common stock Cash Flow Highlights (Q2 2024 vs Q2 2023, in thousands) | Metric | Q2 2024 | Q2 2023 | Change | | :----- | :------ | :------ | :----- | | Net cash provided by operating activities | $(2,295) | $15,788 | **-114.54%** | | Purchases of property and equipment | $(2,256) | $(2,664) | **+15.39%** | | Repayments of debt | $0 | $(15,000) | **+100.00%** | | Repurchases of common stock | $(8,015) | $(820) | **+877.44%** | [Full-Year 2024 Financial Guidance](index=2&type=section&id=Full-Year%202024%20Financial%20Guidance) This section outlines Forrester's financial guidance for the full-year 2024, including both GAAP and adjusted projections [GAAP Guidance](index=2&type=section&id=Full-Year%202024%20(GAAP)) Forrester provided GAAP guidance for full-year 2024, projecting total revenues between $425 million and $435 million, with specific operating margin and EPS ranges Full-Year 2024 GAAP Guidance | Metric | Range | | :----- | :---- | | Total revenues | $425 million to $435 million | | Operating margin | **1.2% to 2.2%** | | Interest expense | Approximately $3.0 million | | Effective tax rate | Approximately **65% to 80%** | | Earnings per share | Approximately **$0.06 to $0.19** | [Adjusted Guidance](index=2&type=section&id=Full-Year%202024%20(Adjusted)) The adjusted full-year 2024 guidance includes an operating margin of 8.5% to 9.5% and diluted earnings per share of $1.37 to $1.57, excluding specific non-GAAP adjustments Full-Year 2024 Adjusted Guidance | Metric | Range | | :----- | :---- | | Adjusted operating margin | Approximately **8.5% to 9.5%** | | Adjusted effective tax rate | Approximately **29%** | | Adjusted diluted earnings per share | Approximately **$1.37 to $1.57** | - Adjusted guidance excludes stock-based compensation (**$14.5M-$15.0M**), amortization of acquisition-related intangibles (**~$10.0M**), restructuring costs (**~$7.0M**), and any investment gains or losses[21](index=21&type=chunk) [About Forrester](index=2&type=section&id=About%20Forrester) This section provides a brief overview of Forrester Research, its mission, and the services it offers [Company Description](index=2&type=section&id=About%20Forrester%20Description) Forrester is a leading research and advisory firm that helps global leaders accelerate growth through customer obsession, offering proprietary research, consulting, and events - Forrester is an influential research and advisory firm[8](index=8&type=chunk) - Helps leaders across various functions (technology, customer experience, digital, marketing, sales, product) accelerate growth through customer obsession[8](index=8&type=chunk) - Services include proprietary research, consulting, and events[8](index=8&type=chunk) - Insights are based on annual surveys of over 700,000 consumers, business leaders, and technology leaders worldwide, rigorous research, and real-time feedback[8](index=8&type=chunk) [Forward-Looking Statements and Risk Factors](index=2&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) This section addresses forward-looking statements and outlines key risks and uncertainties that could impact Forrester's future financial performance [Forward-Looking Statements and Risks](index=2&type=section&id=Forward-Looking%20Statements%20and%20Risks) This section contains forward-looking statements regarding Forrester's financial guidance and future performance, subject to various risks including membership retention, technology spending, and international business challenges - Press release contains forward-looking statements regarding 2024 financial guidance and future performance[4](index=4&type=chunk) - Statements involve risks and uncertainties that could cause actual results to differ materially[4](index=4&type=chunk) - Important factors include ability to retain and enrich memberships, fulfill consulting engagements, technology spending, international business risks, and the use of generative AI[4](index=4&type=chunk)[22](index=22&type=chunk) - Other risks include dependence on key personnel, ability to attract staff, response to economic conditions, debt obligations, competition, quarterly operating result variations, network disruptions, intellectual property protection, privacy laws, and taxation[22](index=22&type=chunk) [Contact Information](index=3&type=section&id=Contact%20Information) This section provides contact details for investor relations and corporate communications [Investor and Media Contacts](index=3&type=section&id=Investor%20and%20Media%20Contacts) Contact details for investor relations and corporate communications are provided for inquiries - Investor Relations contact: Ed Bryce Morris, Vice President, Corporate Development & Investor Relations[9](index=9&type=chunk) - Corporate Communications contact: Shweta Agarwal, VP, Corporate Communications[23](index=23&type=chunk) [Notes and Disclosures](index=2&type=section&id=Notes%20and%20Disclosures) This section includes important notes and disclosures, such as the reconciliation of non-GAAP financial measures and copyright information [Non-GAAP Financial Measures Reconciliation](index=2&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) Forrester provides adjusted financial results to offer consistent and comparable information, excluding specific non-GAAP items and using an assumed 29% tax rate - Adjusted financial results are provided to offer consistent and comparable information for understanding ongoing business[19](index=19&type=chunk) - Exclusions for adjusted metrics include amortization of acquisition-related intangible assets, stock-based compensation, restructuring costs, legal settlements, and net gains/losses from investments, and their related tax effects[19](index=19&type=chunk) - An assumed tax rate of **29%** is used for adjusted net income calculations in 2024 and 2023[19](index=19&type=chunk) Reconciliation of GAAP Net Income to Adjusted Net Income (Q2 2024 vs Q2 2023, in thousands) | Item | Q2 2024 | Q2 2023 | | :--- | :------ | :------ | | Net income (loss) - GAAP | $6,292 | $5,304 | | Amortization of intangible assets | $2,513 | $3,068 | | Restructuring costs | $82 | $10,532 | | Stock-based compensation | $4,025 | $3,860 | | Tax effects of items above | $(1,288) | $(4,597) | | Adjustment to tax expense for adjusted tax rate | $1,288 | $(39) | | **Adjusted net income** | **$12,912** | **$18,128** | [Copyright](index=3&type=section&id=Copyright) This section states the copyright for the document - © 2024, Forrester Research, Inc. All rights reserved[18](index=18&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934. FOR THE QUARTERLY PERIOD ENDED March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934. Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months ...

Forrester Research (FORR) reported $100.08 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 12%. EPS of $0.14 for the same period compares to $0.27 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $104.21 million, representing a surprise of -3.97%. The company delivered an EPS surprise of -36.36%, with the consensus EPS estimate being $0.22.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

Forrester Research (FORR) came out with quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -36.36%. A quarter ago, it was expected that this technology research company would post earnings of $0.26 per share when it actually produced earnings of $0.25, delivering a surprise of -3.85%.Over the last fou ...

Financial Performance - Consolidated revenue was $480.8 million, a decrease of 11% compared to the prior year[21] - Research revenue was $334.4 million, a decrease of 6% compared to the prior year[21] - Consulting revenue was $118.2 million, a decrease of 23% compared to the prior year[21] - Event revenue was $28.2 million, a decrease of 8% compared to the prior year[21] - Adjusted EBITDA was $60.7 million[10] - Q1 2024 consolidated revenue was $100.1 million, a decrease of 12% compared to the prior year[43] - Q1 2024 research revenue was $76.6 million, a decrease of 5% compared to the prior year[43] - Q1 2024 consulting revenue was $23.1 million, a decrease of 27% compared to the prior year[43] - Q1 2024 event revenue was $0.4 million, a decrease of 65% compared to the prior year[43] - Adjusted EPS is guided between $1.50 and $1.70[62] Forrester Decisions (FD) - Two-thirds of Contract Value (CV) is in Forrester Decisions[10] - Forrester Decisions clients represent 50% of CV[23] - Forrester Decisions wallet retention is 87%[98] - Forrester Decisions client retention is 82%[98] Investment and ROI - The composite organization invests $710,000 in costs and experiences $2.54 million in benefits over three years, resulting in a net present value (NPV) of $1.83 million and an ROI of 259%[18]

Exhibit 99.1 On a GAAP basis, net loss was $6.7 million, or $0.35 per diluted share, for the first quarter of 2024, compared with a net loss of $4.1 million, or $0.21 per diluted share, for the same period in 2023. On an adjusted basis, net income was $2.8 million, or $0.14 per diluted share, for the first quarter of 2024, reflecting an adjusted effective tax rate of 29%. Adjusted net income excludes stock-based compensation of $3.6 million, amortization of acquisition-related intangible assets of $2.5 mill ...