Forrester Research reported third‑quarter 2025 revenue of $94.3 million, an 8% decline from $102.5 million in the same period a year earlier. Contract value for the quarter was $288.1 million, down 7% YoY, and the company posted a net loss of $2.1 million, translating to earnings per share of –$0.11. The loss reflects lower research and consulting revenue and the impact of an $83.9 million goodwill impairment charge recorded in the first quarter.
On an adjusted basis, Forrester earned $7.2 million, or $0.37 per share, after excluding one‑time items such as stock‑based compensation, amortization of acquisition‑related intangibles, restructuring costs, and a credit loss on a note receivable from a divestiture. The adjusted results demonstrate that core operating performance was less affected by the goodwill write‑down and that margin pressure remains a concern amid macroeconomic uncertainty.
Forrester’s Q3 revenue was driven by research revenue of $72.7 million and consulting revenue of $21.5 million, while events revenue contributed $0.168 million. Compared with Q2 2025, revenue fell from $111.7 million, a decline that reflects client budget constraints and longer sales cycles in the research and consulting segments.
The company provided full‑year 2025 guidance of $395 million to $405 million in revenue, a slight reduction from prior forecasts, and a net income outlook of $5.0 million to $6.0 million. Guidance excludes the one‑time charges noted above.
Forrester also announced the launch of Forrester AI Access, a self‑service offering that leverages its proprietary generative‑AI platform Izola to deliver trusted insights and advice to clients. The new product is positioned to accelerate insight delivery and deepen engagement with senior executives, supporting the company’s strategy to shift toward higher‑margin, technology‑driven services.
The earnings miss and revenue decline underscore the challenges of the company’s transition to the Forrester Decisions platform, yet the adjusted profitability and the AI initiative signal a strategic focus on higher‑margin, technology‑driven services. Management emphasized that the platform shift is expected to drive contract value growth over the long term while the AI offering is intended to enhance client engagement and operational efficiency.
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