Forrester Shrinkage Continues

Cambridge, MA-based technology research and consulting firm Forrester has announced an 8.2% fall in revenue to $396.9 million, in the full year 2025. Adjusted net income was $22.2m, although the reported figure, including a large goodwill impairment charge, was a net loss of $119.4m.

GAAP / reported net loss for 2024 was just $5.7m, and adjusted net income $28.1m. The 2025 figure includes a non-cash goodwill impairment charge of $110.7m. The Q4 result was on a par with the year as a whole, with total revenues of $101.1m, down from $108.0m a year earlier, and adjusted net income of $3.2m.

The largest division, Research, fared slightly better than others with annual revenue down 6.7% to $295.6m; while Consulting fell 9.3% to $88.2m; and Events declined 29% to $13.1m.

CEO and Chairman George F. Colony says the results 'fell short of expectations,' and that the firm had this week announced a restructuring this week to improve cost efficiency and focus on CV (contract value) growth. He continues: 'To drive CV growth, we will continue to refine our go-to-market execution, advance measures that drive stronger customer retention, and accelerate the integration of AI across our product portfolio.'

The firm saw a steeper decline last year - revenues fell 10.0% - and does not expect the slide to abate in 2026: it forecasts total 2026 revenues in the range $345.0m to $360.0m, down between 9 and 13% on 2025.

Web site: www.forrester.com .