Forrester Research(FORR)2025-02-11 21:05Financial Performance - Forrester's total revenues for Q4 2024 were 118.1 million in Q4 2023[5] - The company's net income for Q4 2024 was 0.02 per diluted share, compared to a net loss of 0.03 per diluted share, in Q4 2023[5] - For the full year 2024, total revenues were 480.8 million in 2023[7] - Forrester reported a net loss of 0.30 per diluted share, compared to a net income of 0.16 per diluted share, in 2023[7] - Adjusted net income for Q4 2024 was 0.36 per diluted share, compared to 0.25 per diluted share, in Q4 2023[6] - Forrester reported a net income of 663,000 in Q4 2023, representing a significant turnaround[18] - Adjusted net income for Q4 2024 was 4.797 million in Q4 2023, reflecting a 42% increase year-over-year[18] Future Guidance - The company expects total revenues for 2025 to be approximately 415.0 million, representing a decline of 7.5% to 4.0% compared to 2024[10] - Forrester's adjusted financial guidance for 2025 excludes stock-based compensation of 15.5 million and restructuring costs of 1.6 million[11] - Forrester's operating margin for 2025 is projected to be approximately 1.8% to 2.8%[10] Client Metrics - The number of clients decreased to 1,942 in 2024 from 2,257 in 2023, indicating a reduction of about 14%[20] - Client retention remained stable at 73% for both 2024 and 2023, while wallet retention improved to 89% from 87%[20] Cash and Investments - Total cash, cash equivalents, and marketable investments decreased to 124.489 million in 2023, a decline of approximately 16%[20] - Net cash used in operating activities was 21.673 million provided in 2023[20] Restructuring and Headcount - The company incurred restructuring costs of 1.132 million in Q4 2023, reflecting increased expenses related to restructuring efforts[18] - Total headcount decreased to 1,571 in 2024 from 1,744 in 2023, a reduction of approximately 10%[21] Deferred Revenue and Stock Buybacks - Deferred revenue decreased to 156.798 million in 2023, a decline of about 7%[20] - The company repurchased 4.082 million in 2023, indicating an increase in buyback activity[20] Platform Migration - The migration to the new Forrester Decisions platform is nearly complete, with 80% of contract value now on the new platform[3] - The company aims to improve retention rates and drive growth in both existing and new accounts in 2025[4]