Forrester Research Non-GAAP EPS of $0.37 beats by $0.06, revenue of $94.3M misses by $4.86M

* Forrester Research press release [https://seekingalpha.com/pr/20287360-forrester-research-reports-2025-third-quarter-financial-results] (FORR [https://seekingalpha.com/symbol/FORR]): Q3 Non-GAAP EPS of $0.37 beats by $0.06.
* Revenue of $94.3M (-8.0% Y/Y) misses by $4.86M.

*
Forrester is providing guidance for 2025 as follows:

Full-Year 2025 (GAAP):

* Total revenues of approximately $395.0 million to $405.0 million, or a decline of 8.7% to 6.4% versus the prior year
* Operating margin of approximately negative 19.3% to negative 18.3%
* Interest expense of approximately $2.7 million
* An effective tax rate of negative 5% to negative 2%
* Diluted loss per share of approximately $4.50 to $4.40

Full-Year 2025 (Adjusted):

Adjusted financial guidance for full-year 2025 excludes the goodwill impairment charge of $83.9 million, stock-based compensation expense of $12.0 million to $13.0 million, amortization of acquisition-related intangible assets of approximately $8.7 million, restructuring costs of approximately $1.9 million, a credit loss on the note receivable from the divestiture of a product line in 2024 of $7.3 million, and any investment gains or losses.

* Adjusted operating margin of approximately 7.5% to 8.5%
* Adjusted effective tax rate of 29%
* Adjusted diluted earnings per share of approximately $1.15 to $1.25
*
FY EPS consensus is $1.28

FY Revenue consensus is $404.35M

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