Forrester Q1 Research Revenue Up 33% after Acquisition

US-based Forrester Research has reported a 33% increase in first quarter Research Services revenue to $72.4m, reflecting the acquisition of b2b researcher SiriusDecisions.

The firm's other business segment, Advisory Services and Events, saw revenues increase 23% to $32.2m, compared with the previous year's first quarter. During an earnings call, Chairman and CEO George Colony (pictured) explained that Forrester is currently developing three capabilities for clients: strategy; real-time customer experience; and operations. Legacy Research, Events, and Consulting are focused in the strategy area, while the second capability will include the real-time customer experience cloud which is in development following the 2018 acquisition of FeedbackNow and GlimpzIt. The product line from SiriusDecisions, which Forrester acquired in January, forms the core of the third, operational capability.

Overall for the group, first quarter total revenues were $100.6m, compared with $77.7m in the first quarter of 2018. On a GAAP basis, net loss was $13.3m, compared with a net loss of $1.7m for the same period in 2018. On a pro forma basis, net income was $1.6m, compared with a net loss of $0.2m in the prior year period.

Colony says the US has performed well and the company is seeing signs of recovery in its European business, while Asia Pacific continues to lead all regions in growth with bookings there moving forward 15% year over year. Additionally, the APAC sales force has been the first to sell the SiriusDecisions product line. Commenting on the results, Colony said: 'We continued the momentum that we had from 2018 with a great start in Q1. At the same time, we continue to make progress with the integration of SiriusDecisions - we are on track for a successful completion and remain bullish on realizing the value from the acquisition'.

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.