Forrester Reports Third Quarter Growth

Technology researcher Forrester has announced third quarter revenue of $118.1m, up around 8.7% when compared either with Q3 2020 or 2019.

On a GAAP basis, net income was $4.5m, turning around a net loss of $3.8m a year earlier; and on an adjusted basis $7.9m, from $4.6m in Q3 2020. As last year, the Consulting division outperformed the larger Research division, with revenue growth of 13.3% versus 7.2% for Research.

Chairman and CEO George F. Colony (pictured) comments: 'We continued to see strong momentum in Q3 and achieved our goal of driving double-digit contract value growth faster than we expected. Our solid performance over the past few quarters has allowed us to make investments into sales, marketing, and technology, which will further propel our business forward. Additionally, our newly launched product portfolio, Forrester Decisions, is resonating well with our clients. This next-generation platform will help us drive sustained double-digit contract value growth. Forrester Decisions is already helping us improve our sales velocity, drive wallet retention, and deepen our relationship with clients, resulting in multiyear recurring deals'.

For the full year 2021 the firm is predicting total revenues of c.$492.0m to $497.0m, and adjusted operating margin of approximately 12.0% to 13.0%.

Web site: www.forrester.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.