The following is a summary of the Forrester Research, Inc. (FORR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Forrester's Q3 2024 revenue decreased by 10% with contract value declining by 5%.

• Interest expense remained stable at $0.8 million, matching Q3 of the previous year.

• Net income and earnings per share dropped by 35% and 34% respectively, with earnings per share at $0.29.

Business Progress:

• Forrester continues to progress with its Forrester Decisions (FD) migration, aiming to complete it within the year with over 80% of contract value in FD.

• Launched the FD service for data, AI, and analytics leaders and other enhancements to Izola, an AI research tool, which is showing increased usage.

• Divested the FeedbackNow product line to focus more on growth through the FD platform; related financial transactions included receiving $6 million in cash and a $9 million note.

Opportunities:

• Opportunities for growth identified in the tech budget increases projected for 2025, particularly impacting technology executives and lifting Forrester's strategic positioning.

Risks:

• Flat to marginally declining contract value forecast for the year-end indicates ongoing challenges amid uncertain economic conditions.

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