Double Digit Growth for Forrester in Q2

US-based technology specialist Forrester Research has reported second quarter revenue of $128.7m, up 13.4% on last year. Revenue from its Research division climbed to $81.0m from $75.0m in Q2 2020.

As part of the company's move to contract value (CV) in 2021, Forrester is classifying all components of its CV subscription research products as research revenues, whereas in prior periods advisory sessions included in Forrester's research subscription products were classified as consulting revenues. This has resulted in approximately $1.4m and $2.9m of revenue being reclassified from consulting revenues to research revenues in the three and six months ended June 30th, 2020, respectively. For its other business lines, Forrester saw Consulting revenue up from $33.4m in Q2 2020 to $40.9m; and Events up from $5.0m to $6.7m.

CEO and Chairman George Colony (pictured) comments: 'Our products and engagement model are resonating with clients, and we are confident that our new product portfolio, Forrester Decisions, will further accelerate our ability to deliver sustained double-digit contract value growth. Forrester Decisions brings together the vision and strategy of Forrester with the operational research of SiriusDecisions into one unique offering. Despite pandemic-related headwinds, we believe that the company can achieve its 2021 goals and continue to expand its annually recurring relationships with clients'.

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.