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Sep 30, 2024
Forrester Q3 2024 Earnings Report
Forrester's third quarter results in 2024 were announced, revealing a decrease in revenue and a net loss compared to the previous year, alongside a decline in contract value. However, the company is making progress with its product migration and maintains its guidance for the year.
Key Takeaways
Forrester Research reported a decrease in revenue to $102.5 million for Q3 2024, compared to $113.4 million in Q3 2023. The company experienced a net loss of $5.8 million, or $0.30 per diluted share, compared to a net income of $2.5 million, or $0.13 per diluted share, in the same period last year. Contract value decreased by 5% year-over-year to $315.2 million.
Forrester's Q3 2024 revenue decreased to $102.5 million from $113.4 million in Q3 2023.
The company reported a net loss of $5.8 million, or $0.30 per diluted share, compared to a net income of $2.5 million, or $0.13 per diluted share, in the same quarter last year.
Contract value (CV) decreased by 5% year-over-year, reaching $315.2 million.
Forrester is progressing with its product migration, aiming for 80% of CV on the Forrester Decisions platform by year-end.
Revenue by Segment
Forward Guidance
Forrester is providing full-year 2024 guidance, including total revenues between approximately $425 million and $435 million and adjusted diluted earnings per share of approximately $1.37 to $1.57.
Positive Outlook
- Total revenues of approximately $425 million to $435 million
- Operating margin of approximately 0.5% to 1.5%
- Adjusted operating margin of approximately 8.5% to 9.5%
- Adjusted effective tax rate of approximately 29%
- Adjusted diluted earnings per share of approximately $1.37 to $1.57
Challenges Ahead
- Interest expense of approximately $3.0 million
- Effective tax rate of approximately 135% to 270%
- Loss per share of approximately $0.24 to $0.04
- Exclusion of stock-based compensation expense of $14.2 million to $14.7 million from adjusted financial guidance
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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