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Dec 31, 2022
Forrester Q4 2022 Earnings Report
Forrester's financial results for Q4 2022 were announced, with revenue increasing but net income decreasing compared to the same period in 2021.
Key Takeaways
Forrester Research reported Q4 2022 revenue of $136.9 million, a slight increase from $133.7 million in Q4 2021. However, the company experienced a net loss of $1.6 million, or $0.09 per diluted share, compared to a net income of $8.0 million, or $0.41 per diluted share, in the same period last year. Adjusted net income was $8.5 million, or $0.45 per diluted share, compared to $11.3 million, or $0.59 per diluted share, for the same period in 2021.
Total revenue increased to $136.9 million from $133.7 million year-over-year.
Net loss was $1.6 million, or $0.09 per diluted share, compared to a net income of $8.0 million, or $0.41 per diluted share, in Q4 2021.
Adjusted net income was $8.5 million, or $0.45 per diluted share, compared to $11.3 million, or $0.59 per diluted share, for the same period in 2021.
Forrester Decisions now accounts for approximately one-third of the company's contract value.
Revenue by Segment
Forward Guidance
Forrester is providing full-year 2023 financial guidance. Total revenues of approximately $518.0 million to $538.0 million, or a decline of 4% to flat versus the prior year Diluted earnings per share of approximately $1.02 to $1.22
Positive Outlook
- Adjusted operating margin of approximately 12.0% to 13.0%
- Adjusted effective tax rate of 29%
- Adjusted diluted earnings per share of approximately $2.25 to $2.45
- Total revenues of approximately $518.0 million to $538.0 million
- Operating margin of approximately 6.0% to 7.0%
Challenges Ahead
- A decline of 4% to flat versus the prior year
- Interest expense of approximately $2.5 million
- An effective tax rate of 31%
- Diluted earnings per share of approximately $1.02 to $1.22
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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