Forrester Research, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Forrester Research, Inc. filed its Q1 2024 10-Q, detailing financial positions and fair value measurements.</b>

AI Summary

FORRESTER RESEARCH, INC. (FORR) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Forrester Research, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to various financial statement line items and fair value measurements. Key dates mentioned include March 31, 2024, December 31, 2023, and January 1, 2024. The report references accounting standards updates from 2016 and 2019. Specific financial instruments and asset categories like MoneyMarketFunds and FederalAgencyObligation are detailed.

Why It Matters

For investors and stakeholders tracking FORRESTER RESEARCH, INC., this filing contains several important signals. This 10-Q filing provides a snapshot of Forrester Research's financial health and operational status as of Q1 2024, crucial for investors assessing performance. The detailed breakdown of financial instruments and fair value inputs offers insights into the company's investment strategies and risk management.

Risk Assessment

Risk Level: low — FORRESTER RESEARCH, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating routine financial disclosure.

Analyst Insight

Monitor future filings for trends in revenue segments and changes in fair value of investments.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Reporting period)
• 2024-05-03 — Filing Date (Date of submission)
• 000-21433 — SEC File Number (SEC filing identifier)
• 0001023313 — Central Index Key (Company identifier)

Key Players & Entities

• FORRESTER RESEARCH, INC. (company) — Filer name
• FORR (company) — Ticker symbol
• 10-Q (filing) — Form type
• 2024-03-31 (date) — Period of report
• 2024-05-03 (date) — Filing date
• 60 ACORN PARK DRIVE (address) — Business address
• CAMBRIDGE (location) — Business address city
• MA (location) — Business address state

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q
• 2024-05-03: Filing Date — Date the 10-Q was officially submitted to the SEC

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive update on the company's financial performance and position during the quarter.)

Filing Documents

• forr-20240331.htm (10-Q) — 1818KB
• forr-ex31_1.htm (EX-31.1) — 10KB
• forr-ex31_2.htm (EX-31.2) — 10KB
• forr-ex32_1.htm (EX-32.1) — 6KB
• forr-ex32_2.htm (EX-32.2) — 6KB
• 0000950170-24-052499.txt (&nbsp;) — 9626KB
• forr-20240331.xsd (EX-101.SCH) — 1258KB
• forr-20240331_htm.xml (XML) — 2123KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 4 Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2024 and 2023 5 Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29

SIGNATURES

SIGNATURES 30 PART I.

FINANC IAL STATEMENTS

ITEM 1. FINANC IAL STATEMENTS FORRESTER RESEARCH, INC. CONSOLIDATED B ALANCE SHEETS (In thousands, except per share data, unaudited) March 31, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 61,379 $ 72,909 Marketable investments 57,095 51,580 Accounts receivable, net of allowance for expected credit losses of $ 764 and $ 574 as of March 31, 2024 and December 31, 2023, respectively 54,717 58,999 Deferred commissions 21,498 23,207 Prepaid expenses and other current assets 23,892 9,305 Total current assets 218,581 216,000 Property and equipment, net 17,787 19,401 Operating lease right-of-use assets 34,380 39,722 Goodwill 243,028 244,257 Intangible assets, net 35,073 37,637 Other assets 6,821 7,157 Total assets $ 555,670 $ 564,174 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 2,749 $ 1,796 Accrued expenses and other current liabilities 44,698 81,482 Deferred revenue 193,664 156,798 Total current liabilities 241,111 240,076 Long-term debt 35,000 35,000 Non-current operating lease liabilities 34,472 37,673 Other non-current liabilities 14,156 11,160 Total liabilities 324,739 323,909 Commitments and contingencies (Note 15) Stockholders' Equity: Preferred stock, $ 0.01 par value Authorized - 500 shares; issued and outstanding - none — — Common stock, $ 0.01 par value Authorized - 125,000 shares Issued - 24,881 and 24,684 shares as of March 31, 2024 and December 31, 2023, respectively Outstanding - 19,242 and 19,248 shares as of March 31, 2024 and December 31, 2023, respectively 249 247 Additional paid-in capital 281,453 278,057 Retained earnings 171,008 177,681 Treasury stock - 5,639 and 5,437 shares as of March 31, 2024 and December 31, 2023, respectively ( 215,246 ) ( 211,149 ) Accumulated other comprehensive loss

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 1 — Interim Consolidated Financial Statements Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. It is recommended that these financial statements be read in conjunction with the consolidated financial statements and related notes that appear in the Forrester Research, Inc. ("Forrester") Annual Report on Form 10-K for the year ended December 31, 2023. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the financial position, results of operations, comprehensive loss, and cash flows as of the dates and for the periods presented have been included. The results of operations for the three months ended March 31, 2024 may not be indicative of the results for the year ending December 31, 2024 , or any other period. Presentation of Restricted Cash The following table summarizes the end-of-period cash and cash equivalents from the Company's Consolidated Balance Sheets and the total cash, cash equivalents and restricted cash as presented on the accompanying Consolidated Statements of Cash Flows (in thousands). Three Months Ended March 31, 2024 2023 Cash and cash equivalents shown in balance sheets $ 61,379 $ 104,217 Restricted cash classified in other assets (1): 2,113 2,071 Cash, cash equivalents and restricted cash shown in statemen

View Full Filing

View this 10-Q filing on SEC EDGAR