$FORR
FORRESTER RESEARCH, INC.

2020 Q1 Form 10-Q Financial Statement

#000156459020023888 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $106.3M $100.6M
YoY Change 5.66% 29.45%
Cost Of Revenue $38.16M $40.35M
YoY Change -5.41% 36.92%
Gross Profit $68.18M $59.03M
YoY Change 15.5% 22.27%
Gross Profit Margin 64.11% 58.65%
Selling, General & Admin $59.88M $62.01M
YoY Change -3.44% 23.08%
% of Gross Profit 87.82% 105.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.406M $2.023M
YoY Change 18.93% 1.35%
% of Gross Profit 3.53% 3.43%
Operating Expenses $59.88M $62.01M
YoY Change -3.44% 23.08%
Operating Profit $721.0K -$10.88M
YoY Change -106.62% 375.7%
Interest Expense $1.538M $2.352M
YoY Change -34.61%
% of Operating Profit 213.31%
Other Income/Expense, Net $310.0K -$270.0K
YoY Change -214.81% 128.81%
Pretax Income -$494.0K -$13.54M
YoY Change -96.35% 457.05%
Income Tax $19.00K -$226.0K
% Of Pretax Income
Net Earnings -$513.0K -$13.32M
YoY Change -96.15% 668.38%
Net Earnings / Revenue -0.48% -13.23%
Basic Earnings Per Share -$0.03 -$0.73
Diluted Earnings Per Share -$0.03 -$0.73
COMMON SHARES
Basic Shares Outstanding 18.71M 18.36M
Diluted Shares Outstanding 18.71M 18.36M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.80M $75.00M
YoY Change -6.93% -44.97%
Cash & Equivalents $69.82M $75.01M
Short-Term Investments
Other Short-Term Assets $43.60M $33.60M
YoY Change 29.76% 0.9%
Inventory
Prepaid Expenses
Receivables $59.50M $69.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $172.9M $177.7M
YoY Change -2.7% -23.34%
LONG-TERM ASSETS
Property, Plant & Equipment $93.00M $97.90M
YoY Change -5.01% 299.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.100M $7.600M
YoY Change -6.58% 10.14%
Total Long-Term Assets $435.4M $462.7M
YoY Change -5.9% 324.89%
TOTAL ASSETS
Total Short-Term Assets $172.9M $177.7M
Total Long-Term Assets $435.4M $462.7M
Total Assets $608.3M $640.4M
YoY Change -5.01% 87.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.0K $1.200M
YoY Change -66.67% 200.0%
Accrued Expenses $51.50M $69.90M
YoY Change -26.32% 98.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.20M $7.031M
YoY Change 45.07%
Total Short-Term Liabilities $257.4M $269.8M
YoY Change -4.6% 41.26%
LONG-TERM LIABILITIES
Long-Term Debt $104.2M $143.7M
YoY Change -27.5%
Other Long-Term Liabilities $88.60M $19.20M
YoY Change 361.58% 128.51%
Total Long-Term Liabilities $192.8M $162.9M
YoY Change 18.34% 1839.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $257.4M $269.8M
Total Long-Term Liabilities $192.8M $162.9M
Total Liabilities $450.1M $496.6M
YoY Change -9.36% 149.05%
SHAREHOLDERS EQUITY
Retained Earnings $114.4M
YoY Change
Common Stock $206.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $158.2M $143.8M
YoY Change
Total Liabilities & Shareholders Equity $608.3M $640.4M
YoY Change -5.01% 87.96%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$513.0K -$13.32M
YoY Change -96.15% 668.38%
Depreciation, Depletion And Amortization $2.406M $2.023M
YoY Change 18.93% 1.35%
Cash From Operating Activities $21.82M $25.99M
YoY Change -16.03% 232.97%
INVESTING ACTIVITIES
Capital Expenditures $2.401M $2.772M
YoY Change -13.38% 109.37%
Acquisitions $238.9M
YoY Change
Other Investing Activities $0.00 -$238.9M
YoY Change -100.0% 238840.0%
Cash From Investing Activities -$2.401M -$241.7M
YoY Change -99.01% 16826.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.29M 151.4M
YoY Change -110.1% -2845.03%
NET CHANGE
Cash From Operating Activities 21.82M 25.99M
Cash From Investing Activities -2.401M -241.7M
Cash From Financing Activities -15.29M 151.4M
Net Change In Cash 1.448M -63.93M
YoY Change -102.27% -2900.18%
FREE CASH FLOW
Cash From Operating Activities $21.82M $25.99M
Capital Expenditures $2.401M $2.772M
Free Cash Flow $19.42M $23.22M
YoY Change -16.34% 258.22%

Facts In Submission

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3275000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2685000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
143814000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
436000
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
17000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
33000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
386000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
378000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
386000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.62
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
33.53
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y6M14D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y6M21D
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
38.46
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.47
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
35.42
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
35.47
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y6M14D
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4000
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
4000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2802000
CY2020Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2019Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2685000
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
CY2019Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
CY2020Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
535000000
CY2020Q1 forr Cumulative Repurchase Of Common Stock
CumulativeRepurchaseOfCommonStock
16300000
CY2020Q1 forr Cumulative Common Stock Purchased Program Life To Date Value
CumulativeCommonStockPurchasedProgramLifeToDateValue
474900000
CY2020Q1 us-gaap Cost Of Revenue
CostOfRevenue
38162000
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
59875000
CY2020Q1 forr Interest Expense Other Income And Gains Losses On Investments
InterestExpenseOtherIncomeAndGainsLossesOnInvestments
-1215000
CY2019Q1 us-gaap Cost Of Revenue
CostOfRevenue
40345000
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
62011000
CY2019Q1 forr Interest Expense Other Income And Gains Losses On Investments
InterestExpenseOtherIncomeAndGainsLossesOnInvestments
-2658000

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