Forrester Research Inc (NASDAQ: FORR) is a business and technology research and advisory company that sells subscription-based research, consulting services, and events to business and technology leaders. Revenue comes primarily from annually renewable research contracts, supplemented by project-based consulting engagements and live events. Forrester was incorporated in Massachusetts on July 7, 1983 and reincorporated in Delaware on February 16, 1996. For FY2025, total revenues were $396.9 million, down 8% from $432.5 million in FY2024. Research revenues represented 74.5% of total FY2025 revenues ($295.6 million), consulting revenues 22.2%, and events revenues 3.3%. The company reported a net loss of 30.1% of revenues in FY2025, driven in part by goodwill impairment charges of $110.7 million ($83.9 million in Q1 2025 and $26.8 million in Q4 2025) against its Research reporting unit. As of December 31, 2025, Forrester had 1,474 employees and clients in approximately 68 countries.

Revenue model

Subscription contracts (research) generate approximately 74.5% of revenues (FY2025). Clients renew annually; contract value and wallet retention are key operating metrics. Wallet retention was 87% as of December 31, 2025, down 2 percentage points year over year. Consulting (project-based advisory) contributes 22.2% and events 3.3% of FY2025 revenues.

Products and services

Research subscriptions providing analyst reports and advisory access to business and technology leaders; consulting services delivered on a project basis; live events. The company launched an AI Access product in Q3 2025, which it credits with contributing to improved client retention.

Customers and end markets

Business and technology leaders across corporate enterprises. Clients in approximately 68 countries as of December 31, 2025. Demand is tied to technology spending budgets; slowdowns in technology investment directly reduce demand for research and advisory subscriptions.

Value-chain role

Independent research and advisory intermediary sitting between technology vendors and enterprise buyers, providing analysis to inform technology purchasing and strategy decisions.

Geographic exposure

Approximately 77% of FY2025 revenues from domestic (U.S.) sources and approximately 23% from international sales as of December 31, 2025. International employees split across EMEA (224 employees) and Asia Pacific (216 employees), with 1,034 employees in the United States and Canada.

Source: SEC 10-K, filed 2026-03-13

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