Forrester Research (FORR) 10-Q 3 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 29, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $.01 Par Value
Trading Symbol	FORR
Security Exchange Name	NASDAQ
Entity Registrant Name	FORRESTER RESEARCH, INC.
Entity Central Index Key	0001023313
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		19,107,000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity File Number	000-21433
Entity Tax Identification Number	04-2797789
Entity Address, Address Line One	60 Acorn Park Drive
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02140
City Area Code	617
Local Phone Number	613-6000

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
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
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	0	0
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	(6,533)	(4,571)
Total stockholders’ equity	230,931	240,265
Total liabilities and stockholders’ equity	$ 555,670	$ 564,174

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for expected credit losses	$ 764	$ 574
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	24,881,000	24,684,000
Common stock, shares outstanding	19,242,000	19,248,000
Treasury stock, shares	5,639,000	5,437,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Total revenues	$ 100,077,000	$ 113,670,000
Operating expenses:
Cost of services and fulfillment	44,690,000	49,292,000
Selling and marketing	39,422,000	41,532,000
General and administrative	14,059,000	21,227,000
Depreciation	2,060,000	2,104,000
Amortization of intangible assets	2,514,000	3,066,000
Restructuring costs	6,624,000	1,589,000
Total operating expenses	109,369,000	118,810,000
Loss from operations	(9,292,000)	(5,140,000)
Interest expense	(762,000)	(793,000)
Other income, net	1,274,000	550,000
Loss before income taxes	(8,780,000)	(5,383,000)
Income tax benefit	(2,107,000)	(1,308,000)
Net loss	$ (6,673,000)	$ (4,075,000)
Basic loss per common share	$ (0.35)	$ (0.21)
Diluted loss per common share	$ (0.35)	$ (0.21)
Basic weighted average common shares outstanding	19,285	19,108
Diluted weighted average common shares outstanding	19,285	19,108
Research [Member]
Revenues:
Total revenues	$ 76,581,000	$ 80,906,000
Consulting [Member]
Revenues:
Total revenues	23,141,000	31,750,000
Events [Member]
Revenues:
Total revenues	$ 355,000	$ 1,014,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (6,673,000)	$ (4,075,000)
Other comprehensive income (loss), net of tax:
Foreign currency translation	(1,968,000)	1,206,000
Net change in market value of investments	6,000	33,000
Other comprehensive income (loss)	(1,962,000)	1,239,000
Comprehensive loss	$ (8,635,000)	$ (2,836,000)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (6,673)	$ (4,075)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	2,060	2,104
Impairment of property and equipment	646	0	$ 1,300
Amortization of intangible assets	2,514	3,066
Deferred income taxes	3,485	1,926
Stock-based compensation	3,574	3,165
Operating lease right-of-use assets amortization and impairments	5,679	2,886
Amortization of deferred financing fees	113	109
Amortization of discount on investments	(172)	(63)
Foreign currency losses	72	20
Changes in assets and liabilities:
Accounts receivable	3,885	14,691
Deferred commissions	1,709	1,957
Prepaid expenses and other current assets	(14,617)	(8,819)
Accounts payable	970	64
Accrued expenses and other liabilities	(36,002)	(37,416)
Deferred revenue	36,998	36,041
Operating lease liabilities	(3,630)	(3,374)
Net cash provided by operating activities	611	12,282
Cash flows from investing activities:
Purchases of property and equipment	(1,426)	(1,632)
Purchases of marketable investments	(32,745)	(964)
Proceeds from maturities of marketable investments	23,900	4,000
Proceeds from sales of marketable investments	3,021	0
Other investing activity	14	(62)
Net cash provided by (used in) investing activities	(7,236)	1,342
Cash flows from financing activities:
Payments on borrowings	0	(15,000)
Repurchases of common stock	(4,097)	0
Proceeds from issuance of common stock under employee equity incentive plans	1,253	1,840
Taxes paid related to net share settlements of stock-based compensation awards	(1,429)	(1,079)
Net cash used in financing activities	(4,273)	(14,239)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(652)	1,249
Net change in cash, cash equivalents and restricted cash	(11,550)	634
Cash, cash equivalents and restricted cash, beginning of period	75,042	105,654
Cash, cash equivalents and restricted cash, end of period	63,492	106,288	$ 105,654
Supplemental disclosure of cash flow information:
Cash paid for interest	646	742
Cash paid for income taxes	$ 3,195	$ 1,620

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (6,673,000)	$ (4,075,000)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Interim Consolidated Financial

Interim Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Interim Consolidated Financial Statements	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 statement of cash flows $ 63,492 $ 106,288 (1) Restricted cash consists of collateral required for leased office space. The short-term or long-term classification regarding the collateral for the leased office space is determined in accordance with the expiration of the underlying leases. Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . The new standard enhances the disclosures of reportable segment information, primarily in regards to significant segment expenses. The new standard will be effective for the Company for the annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of adoption of the standard on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The new standard enhances income tax disclosure requirements by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and providing clarification on uncertain tax positions and related financial statement impacts. The new standard will be effective for the Company on January 1, 2025, with early adoption permitted. The Company is currently evaluating the impact of adoption of the standard on its consolidated financial statements.

Marketable Investments

Marketable Investments	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Marketable Investments	Note 2 — Marketable Investments The following table summarizes the Company’s marketable investments (in thousands): As of March 31, 2024 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Corporate obligations $ 21,989 $ — $ ( 66 ) $ 21,923 Federal agency obligations 2,000 — ( 4 ) 1,996 Money market funds 33,176 — — 33,176 Total $ 57,165 $ — $ ( 70 ) $ 57,095 As of December 31, 2023 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Corporate obligations $ 18,049 $ — $ ( 72 ) $ 17,977 Federal agency obligations 2,000 — ( 7 ) 1,993 Money market funds 31,610 — — 31,610 Total $ 51,659 $ — $ ( 79 ) $ 51,580 Realized gains and losses on investments are included in earnings and are determined using the specific identification method. There were no realized gains or losses on marketable investments during the three months ended March 31, 2024 and 2023. The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of March 31, 2024 (in thousands). FY 2024 FY 2025 Total Corporate obligations $ 19,475 $ 2,448 $ 21,923 Federal agency obligations 1,996 — 1,996 Money market funds 33,176 — 33,176 Total $ 54,647 $ 2,448 $ 57,095 The following table shows the gross unrealized losses and market value of the Company’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): As of March 31, 2024 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Corporate obligations $ 17,026 $ 16 $ 4,897 $ 50 Federal agency obligations — — 1,996 4 Total $ 17,026 $ 16 $ 6,893 $ 54 As of December 31, 2023 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Corporate obligations $ 13,098 $ 8 $ 4,879 $ 64 Federal agency obligations — — 1,993 7 Total $ 13,098 $ 8 $ 6,872 $ 71

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 3 — Goodwill and Other Intangible Assets Goodwill Goodwill represents the excess of the purchase price of acquired businesses over the estimated fair values of the tangible and identifiable intangible net assets acquired. Goodwill is not amortized; however, it is required to be tested for impairment annually, which requires assessment of the potential impairment at the reporting unit level. Reporting units are determined based on the components of the Company's operating segments that constitute a business for which discrete financial information is available and for which operating results are regularly reviewed by segment management. Testing for impairment is also required on an interim basis if an event or circumstance indicates it is more likely than not an impairment loss has been incurred. The Company performed its annual impairment testing as of November 30, 2023 utilizing a quantitative assessment to determine if the fair values of each of its reporting units was less than their respective carrying values and concluded that no impairments existed. Subsequent to completing the annual test and through March 31, 2024, there were no events or circumstances that required an interim impairment test. Accordingly, as of March 31, 2024 , the Company had no accumulated goodwill impairment losses. Approxim ately $ 8.2 million of goodwill is allocated to the Company’s Consulting reporting unit, which had a negative carrying value as of the date of the last test. The change in the carrying amount of goodwill for the three months ended March 31, 2024 is summarized as follows (in thousands): Total Balance at December 31, 2023 $ 244,257 Translation adjustments ( 1,229 ) Balance at March 31, 2024 $ 243,028 Finite-Lived Intangible Assets The carrying values of finite-lived intangible assets are as follows (in thousands): March 31, 2024 Gross Net Carrying Accumulated Carrying Amount Amortization Amount Amortizable intangible assets: Customer relationships $ 77,626 $ 44,183 $ 33,443 Technology 16,290 15,881 409 Trademarks 12,484 11,263 1,221 Total $ 106,400 $ 71,327 $ 35,073 December 31, 2023 Gross Net Carrying Accumulated Carrying Amount Amortization Amount Amortizable intangible assets: Customer relationships $ 77,640 $ 42,091 $ 35,549 Technology 16,524 15,950 574 Trademarks 12,519 11,005 1,514 Total $ 106,683 $ 69,046 $ 37,637 Estimated intangible asset amortization expense for each of the five succeeding years is as follows (in thousands): 2024 (remainder) $ 7,401 2025 8,875 2026 8,392 2027 8,324 2028 2,081 Total $ 35,073

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Note 4 — Debt The Company has a credit facility that provides up to $ 150.0 million of revolving credit commitments and matures in December of 2026 . The credit facility includes an expansion feature that permits the Company to increase the revolving credit commitments in an aggregate principal amount up to $ 50.0 million, subject to approval by the administrative agent and certain customary terms and conditions. The credit facility contains certain customary restrictive loan covenants, including among others, financial covenants that apply a maximum leverage ratio, minimum interest coverage ratio, and maximum annual capital expenditures. The negative covenants limit, subject to various exceptions, the Company’s ability to incur additional indebtedness, create liens on assets, merge, consolidate, liquidate or dissolve any part of the Company, sell assets, change fiscal year, or enter into certain transactions with affiliates and subsidiaries. The Company was in full compliance with the covenants as of March 31, 2024. The Company may voluntarily prepay revolving loans under the credit facility at any time and from time to time, without premium or penalty. No interim amortization payments are required to be made under the credit facility. The credit facility provided that once LIBOR ceased to exist in 2023, the benchmark rate for the loans outstanding automatically transferred from LIBOR to the Secured Overnight Financing Rate (SOFR). In April 2023, the Company executed a second amendment to the credit facility to facilitate the conversion from LIBOR to SOFR and to set the base interest rate at SOFR plus 10 basis points. Up to $ 5.0 million of the credit facility is available for the issuance of letters of credit, and any drawings under the letters of credit must be reimbursed within one business day. As of March 31, 2024, $ 0.6 mi llion in letters of credit were issued under the credit facility. Outstanding Borrowings The following table summarizes the Company’s total outstanding borrowings as of the dates indicated (in thousands): Description: March 31, 2024 December 31, 2023 Credit facility $ 35,000 $ 35,000 The contractual annualized interest rate as of March 31, 2024 was 6.68 %. The Company had $ 114.4 m illion of available borrowing capacity on the credit facility (not including the expansion feature) as of March 31, 2024. The weighted average annual effective interest rate for the three months ended March 31, 2024, w as 6.6883 %. All obligations under the credit facility are unconditionally guaranteed by each of the Company’s existing and future, direct and indirect, material wholly-owned domestic subsidiaries, other than certain excluded subsidiaries, and are collateralized by a first priority lien on substantially all tangible and intangible assets, including intellectual property, and all of the capital stock of the Company's subsidiaries (limited to 65 % of the voting equity of certain subsidiaries).

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Note 5 — Leases All of the Company’s leases are operating leases, the majority of which are for office space. Operating lease right-of-use (“ROU”) assets and non-current operating lease liabilities are included as individual line items in the Consolidated Balance Sheets, while short-term operating lease liabilities are recorded within accrued expenses and other current liabilities. Leases with an initial term of twelve months or less are not recorded in the Consolidated Balance Sheets and are not material. The components of lease expense were as follows (in thousands): For the Three Months Ended March 31, 2024 2023 Operating lease cost $ 3,094 $ 3,314 Short-term lease cost 214 261 Variable lease cost 1,230 785 Sublease income ( 130 ) ( 131 ) Total lease cost $ 4,408 $ 4,229 Additional lease information is summarized in the following table (in thousands, except lease term and discount rate): For the Three Months Ended March 31, 2024 2023 Cash paid for amounts included in the measurement of operating $ 3,630 $ 3,374 Operating lease ROU assets obtained in exchange for lease $ 408 $ 1,323 Weighted-average remaining lease term - operating leases (years) 4.1 4.9 Weighted-average discount rate - operating leases 4.2 % 4.3 % Future minimum lease payments under non-cancelable leases and estimated future sublease cash receipts from non-cancelable arrangements as of March 31, 2024 are as follows (in thousands): Operating Lease Sublease Payments Cash Receipts 2024 (remainder) $ 12,209 $ 471 2025 13,933 — 2026 12,325 — 2027 5,707 — 2028 2,875 — Thereafter 6,024 — Total lease payments and estimated sublease cash receipts 53,073 $ 471 Less imputed interest ( 4,515 ) Present value of lease liabilities $ 48,558 Lease balances as of March 31, 2024 are as follows (in thousands): Operating lease ROU assets $ 34,380 Short-term operating lease liabilities (1) $ 14,086 Non-current operating lease liabilities 34,472 Total operating lease liabilities $ 48,558 (1) Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets. The Company’s leases do not contain residual value guarantees, material restrictions, or covenants. During the three months ended March 31, 2024, the Company recorded a $ 3.2 million ROU asset impairment and $ 0.6 million of leasehold improvements impairments related to closing the 11th floor of its offices located at 150 Spear Street, San Francisco, California. During the three months ended March 31, 2023, the Company recorded a $ 0.4 million ROU asset impairment related to closing the 10th floor of its offices located at 150 Spear Street, San Francisco, California. The impairments are included in restructuring and related costs in the Consolidated Statements of Operations. As a result of the impairments, the ROU assets were required to be recorded at their estimated fair values as Level 3 non-financial assets. The fair values of the asset groups were determined using a discounted cash flow model, which required the use of estimates, including projected cash flows for the related assets, the selection of a discount rate used in the model, and regional real estate industry data.

Revenue and Related Matters

Revenue and Related Matters	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue and Related Matters	Note 6 – Revenue and Related Matters Disaggregated Revenue The Company disaggregates revenue as set forth in the following tables (in thousands): Revenue by Geography For the Three Months Ended March 31, Revenues: (1) 2024 2023 North America $ 79,629 $ 92,671 Europe 13,437 13,712 Asia Pacific 4,891 5,382 Other 2,120 1,905 Total $ 100,077 $ 113,670 (1) Revenue location is determined based on where the products and services are consumed. Contract Assets and Contract Liabilities Accounts Receivable Accounts receivable includes amounts billed and currently due from customers. Since the only condition for payment of the Company’s invoices is the passage of time, a receivable is recorded on the date an invoice is issued. Also included in accounts receivable are unbilled amounts resulting from revenue exceeding the amount billed to the customer, where the right to payment is unconditional. If the right to payment for services performed was conditional on something other than the passage of time, the unbilled amount would be recorded as a separate contract asset. There were no contract assets as of March 31, 2024 or 2023. The majority of the Company’s contracts are non-cancelable. However, for contracts that are cancelable by the customer, the Company does not record a receivable when it issues an invoice. The Company records accounts receivable on these contracts only up to the amount of revenue earned but not yet collected. In addition, since the majority of the Company’s contracts are invoiced for annual periods, and payment is expected within one year from the transfer of products and services, the Company does not adjust its receivables or transaction prices for the effects of a significant financing component. Deferred Revenue The Company refers to contract liabilities as deferred revenue in the Consolidated Balance Sheets. Payment terms in the Company’s customer contracts vary, but generally require payment in advance of fully satisfying the performance obligation(s). Deferred revenue consists of billings in excess of revenue recognized. Similar to accounts receivable, the Company does not record deferred revenue for unpaid invoices issued on a cancelable contract. During the three months ended March 31, 2024 and 2023, the Company recogn ized $ 62.5 million and $ 72.9 million of revenue, respectively, related to its deferred revenue balance at January 1 of each such period. Approxima tely $ 378.4 million o f revenue is expected to be recognized during the next 24 months from remaining performance obligations as of March 31, 2024. Reserves for Credit Losses The allowance for expected credit losses on accounts receivable for the three months ended March 31, 2024 is summarized as follows (in thousands): Total Balance at December 31, 2023 $ 574 Provision for expected credit losses 223 Write-offs ( 33 ) Balance at March 31, 2024 $ 764 When evaluating the adequacy of the allowance for expected credit losses, the Company makes judgments regarding the collectability of accounts receivable based, in part, on the Company’s historical loss rate experience, customer concentrations, management’s expectations of future losses as informed by current economic conditions, and changes in customer payment terms. If the expected financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. If the expected financial condition of the Company’s customers were to improve, the allowances may be reduced accordingly. Cost to Obtain Contracts The Company capitalizes commissions paid to sales representatives and related fringe benefits costs that are incremental to obtaining customer contracts. These costs are included in deferred commissions in the Consolidated Balance Sheets. The Company accounts for these costs at a portfolio level as the Company’s contracts are similar in nature and the amortization model used closely matches the amortization expense that would be recognized on a contract-by-contract basis. Costs to obtain a contract are amortized to earnings over the initial contract term, which is the same period the related revenue is recognized. Amortization expense related to deferred commissions for the three months ended March 31, 2024 and 2023 wa s $ 7.9 million and $ 8.6 million, re spectively. The Company evaluates the recoverability of deferred commissions at each balance sheet date and there were no impairments recorded during the three months ended March 31, 2024 and 2023 .

Derivatives and Hedging

Derivatives and Hedging	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Note 7 — Derivatives and Hedging The Company enters into a limited number of foreign currency forward exchange contracts to mitigate the effects of adverse fluctuations in foreign currency exchange rates on transactions entered into in the normal course of business that are denominated in foreign currencies that differ from the local functional currency. These contracts generally have short durations and are recorded at fair value with both realized and unrealized gains and losses recorded in other income, net in the Consolidated Statements of Operations because the Company does not designate these contracts as hedges for accounting purposes. During the three months ended March 31, 2024, the Company entered into three foreign currency forward exchange contracts, all of which settled by March 31, 2024. Accordingly, as of March 31, 2024, there is no amount recorded in the Consolidated Balance Sheets for these contracts. During the three months ended March 31, 2023, the Company entered into three foreign currency forward exchange contracts, all of which settled by March 31, 2023. Accordingly, as of March 31, 2023, there is no amount recorded in the Consolidated Balance Sheets for these contracts. The Company’s derivative counterparties are investment grade financial institutions. The Company does not have any collateral arrangements with these counterparties and the derivative contracts do not contain credit risk-related contingent features. The table below provides information regarding amounts recognized in the Consolidated Statements of Operations for the derivative contracts for the periods indicated (in thousands): Three Months Ended March 31, Amount recorded in: 2024 2023 Other income, net $ ( 14 ) $ 62

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8 — Fair Value Measurements The carrying amounts reflected in the Consolidated Balance Sheets for cash, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term maturities. The Company’s financial instruments also include its outstanding variable-rate borrowings (refer to Note 4 – Debt ). The Company believes that the carrying amount of its variable-rate borrowings reasonably approximate their fair values because the rates of interest on those borrowings reflect current market rates of interest. Additionally, the Company measures certain financial assets and liabilities at fair value on a recurring basis including cash equivalents and marketable investments. The fair values of these financial assets and liabilities have been classified as Level 1, 2, or 3 within the fair value hierarchy as described in the accounting standards for fair value measurements: Level 1 — Fair value based on quoted prices in active markets for identical assets or liabilities. Level 2 — Fair value based on inputs other than Level 1 inputs that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Fair value based on unobservable inputs that are supported by little or no market activity and such inputs are significant to the fair value of the assets or liabilities. The following table represents the Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): As of March 31, 2024 Level 1 Level 2 Total Assets: Money market funds (1) $ 43,726 $ — $ 43,726 Marketable investments (3) — 23,919 23,919 Total Assets $ 43,726 $ 23,919 $ 67,645 As of December 31, 2023 Level 1 Level 2 Total Assets: Money market funds (2) $ 55,128 $ — $ 55,128 Marketable investments (3) — 19,970 19,970 Total Assets $ 55,128 $ 19,970 $ 75,098 (1) U.S. based funds o f $ 10.5 million are included in cash and cash equivalents and non-U.S. based funds of $ 33.2 million are included in marketable investments in the Consolidated Balance Sheets. (2) U.S. based funds of $ 23.5 million are included in cash and cash equivalents and non-U.S. based funds of $ 31.6 million are included in marketable investments in the Consolidated Balance Sheets. (3) Marketable investments have been initially valued at the transaction price and subsequently valued, at the end of the reporting period, utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation methods, including both income and market-based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events. During the three months ended March 31, 2024 , the Company did not transfer assets or liabilities between levels of the fair value hierarchy. Additionally, there have been no changes to the valuation techniques for Level 2 assets and liabilities.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 9 — Income Taxes Forrester provides for income taxes on an interim basis according to management’s estimate of the effective tax rate expected to be applicable for the full fiscal year. Certain items such as changes in tax rates, tax benefits or expense related to settlements of share-based awards, and foreign currency gains or losses are treated as discrete items and are recorded in the period in which they arise. Income tax benefit for the three months ended March 31, 2024 w as $ 2.1 million resulting in an effective tax rate of 24.0 % for the period. Income tax benefit for the three months ended March 31, 2023 was $ 1.3 million resulting in an effective tax rate of 24.3 % for the period. The Company anticipates that its effective tax rate for the full year 2024 will be approximately 50 %.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss ("AOCL")	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss ("AOCL")	Note 10 — Accumulated Other Comprehensive Loss (“AOCL”) The components of accumulated other comprehensive loss are as follows (net of tax, in thousands): Marketable Translation Investments Adjustment Total AOCL Balance at December 31, 2023 $ ( 60 ) $ ( 4,511 ) $ ( 4,571 ) Foreign currency translation (1) — ( 1,968 ) ( 1,968 ) Unrealized gain, net of tax of $( 2 ) 6 — 6 Balance at March 31, 2024 $ ( 54 ) $ ( 6,479 ) $ ( 6,533 ) Marketable Translation Investments Adjustment Total AOCL Balance at December 31, 2022 $ ( 159 ) $ ( 7,759 ) $ ( 7,918 ) Foreign currency translation (1) — 1,206 1,206 Unrealized gain, net of tax of $( 11 ) 33 — 33 Balance at March 31, 2023 $ ( 126 ) $ ( 6,553 ) $ ( 6,679 ) (1) The Company does not record tax provisions or benefits for the net changes in foreign currency translation adjustments as it intends to permanently reinvest undistributed earnings of its foreign subsidiaries.

Net Loss Per Common Share

Net Loss Per Common Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Common Share	Note 11 — Ne t Loss Per Common Share Basic net loss per common share is computed by dividing net loss by the basic weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing net loss by the diluted weighted average number of common shares and common equivalent shares outstanding during the period. The weighted average number of common equivalent shares outstanding has been determined in accordance with the treasury-stock method. Common equivalent shares consist of common stock issuable on the exercise of outstanding stock options and the vesting of restricted stock units. Basic and diluted weighted average common shares are as follows (in thousands): Three Months Ended March 31, 2024 2023 Basic weighted average common shares outstanding 19,285 19,108 Weighted average common equivalent shares — — Diluted weighted average common shares outstanding 19,285 19,108 Options and restricted stock units excluded from diluted 1,082 703

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity	Note 12 — Stockholders’ Equity The components of stockholders’ equity are as follows (in thousands): Three Months Ended March 31, 2024 Common Stock Treasury Stock Accumulated Number $0.01ParValue Additional Retained Number Cost Other Total Balance at December 31, 2023 24,684 $ 247 $ 278,057 $ 177,681 5,437 $ ( 211,149 ) $ ( 4,571 ) $ 240,265 Issuance of common stock under 197 2 ( 178 ) — — — — ( 176 ) Repurchases of common stock — — — — 202 ( 4,097 ) — ( 4,097 ) Stock-based compensation expense — — 3,574 — — — — 3,574 Net loss — — — ( 6,673 ) — — — ( 6,673 ) Net change in marketable investments, — — — — — — 6 6 Foreign currency translation — — — — — — ( 1,968 ) ( 1,968 ) Balance at March 31, 2024 24,881 $ 249 $ 281,453 $ 171,008 5,639 $ ( 215,246 ) $ ( 6,533 ) $ 230,931 Three Months Ended March 31, 2023 Common Stock Treasury Stock Accumulated Number $0.01ParValue Additional Retained Number Cost Other Total Balance at December 31, 2022 24,367 $ 244 $ 261,766 $ 174,631 5,305 $ ( 207,067 ) $ ( 7,918 ) $ 221,656 Issuance of common stock under 128 1 760 — — — — 761 Stock-based compensation expense — — 3,165 — — — — 3,165 Net loss — — — ( 4,075 ) — — — ( 4,075 ) Net change in marketable investments, — — — — — — 33 33 Foreign currency translation — — — — — — 1,206 1,206 Balance at March 31, 2023 24,495 $ 245 $ 265,691 $ 170,556 5,305 $ ( 207,067 ) $ ( 6,679 ) $ 222,746 Equity Plans Restricted stock unit activity for the three months ended March 31, 2024 is presented below (in thousands, except per share data): Weighted- Average Number of Grant Date Shares Fair Value Unvested at December 31, 2023 999 $ 37.66 Granted 163 25.34 Vested ( 185 ) 40.55 Forfeited ( 37 ) 37.64 Unvested at March 31, 2024 940 $ 34.97 Stock option activity for the three months ended March 31, 2024 is presented below (in thousands, except per share data and contractual term): Weighted - Weighted - Average Average Exercise Remaining Aggregate Number Price Per Contractual Intrinsic of Shares Share Term (in years) Value Outstanding at December 31, 2023 201 $ 33.93 Forfeited ( 12 ) 36.92 Outstanding at March 31, 2024 189 $ 33.74 6.44 $ — Exercisable at March 31, 2024 93 $ 34.47 3.86 $ — Vested and expected to vest at March 31, 2024 189 $ 33.74 6.44 $ — No stock options were granted or exercised during the three months ended March 31, 2024 . Stock-Based Compensation Forrester recognizes the fair value of stock-based compensation over the requisite service period of the individual grantee, which generally equals the vesting period. Stock-based compensation was recorded in the following expense categories in the Consolidated Statements of Operations (in thousands): Three Months Ended March 31, 2024 2023 Cost of services and fulfillment $ 2,122 $ 1,847 Selling and marketing 599 497 General and administrative 853 821 Total $ 3,574 $ 3,165 Forrester utilizes the Black-Scholes valuation model for estimating the fair value of options granted under the equity incentive plans and shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions: Three Months Ended March 31, 2024 2023 Employee Stock Purchase Plan Equity Incentive Plans Employee Stock Purchase Plan Average risk-free interest rate 5.36 % 4.27 % 5.00 % Expected dividend yield 0.0 % 0.0 % 0.0 % Expected life 0.5 Years 4.75 Years 0.5 Years Expected volatility 39 % 43 % 46 % Weighted average fair value $ 5.46 $ 14.24 $ 9.47 Treasury Stock As of March 31, 2024, Forrester’s B oard of Directors had authorized an aggregate $ 585.0 million to purchase common stock under its stock repurchase program. The shares repurchased may be used, among other things, in connection with Forrester’s equity incentive and purchase plans. During the three months ended March 31, 2024, the Company repurchased approximate ly 0.2 mill ion shares of common stock at an aggregate cost of approximate ly $ 4.1 milli on. During the three months ended March 31, 2023 , the Company did no t repurchase any shares of common stock. From the inception of the program through March 31, 2024, the Company repurcha sed 17.3 million shares of common stock at an aggregate cost of $ 518.2 m illion.

Restructuring and Related Costs

Restructuring and Related Costs	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Note 13 — Restructuring and Related Costs In January 2023, the Company implemented a reduction in its workforce of approximately 4 % across various geographies and functions to streamline operations. The Company recorded $ 4.3 million of severance and related costs for this action during the fourth quarter of 2022, and $ 0.6 million during the first quarter of 2023. The Company also recorded a restructuring charge of $ 5.0 million during the fourth quarter of 2022 related to closing one floor of its offices located at 150 Spear Street, San Francisco, California, of which $ 3.7 million related to an impairment of a right-of-use asset and $ 1.3 million related to an impairment of leasehold improvements. In the first quarter of 2023, the Company recorded an incremental $ 0.4 million impairment to its California office and a $ 0.6 million charge for the write-off of a previously capitalized software project. The following table rolls forward the activity in the restructuring accrual for the January 2023 action for the three months ended March 31, 2024 (in thousands): Accrual at December 31, 2023 $ 48 Additional restructuring and related costs 14 Cash payments ( 62 ) Accrual at March 31, 2024 $ — In May 2023, the Company implemented a reduction in its workforce of approximately 8 % across various geographies and functions to better align its cost structure and to streamline its sales and consulting organizations. The Company reco rded $ 7.5 million of severance and related costs for this action during the second quarter of 2023. In addition, the Company closed certain of its smaller offices both inside and outside the U.S. in order to reduce facility costs and better match its facilities to its hybrid work strategy. As a result of closing the offices, the Company recorded restructuring costs of $ 2.3 million, which included $ 1.3 million related to right-of-use asset impairments and accelerated amortization and $ 0.6 million relat ed to impairments of leasehold improvements. In addition, the Company incurred $ 0.7 million in contract termination costs. The accrued restructuring and related costs as of March 31, 2024 will be fully paid by the end of 2024. The following table rolls forward the activity in the restructuring accrual for the May 2023 action for the three months ended March 31, 2024 (in thousands): Accrual at December 31, 2023 $ 1,282 Additional restructuring and related costs 39 Cash payments ( 820 ) Accrual at March 31, 2024 $ 501 I n February 2024, the Company implemented a reduction in force of approximately 3 % of its workforce across various geographies and functions to better align its cost structure with the revenue outlook for the year. The Company recorded $ 0.7 million of severance and related costs for this action during the fourth quarter of 2023, and $ 2.8 million during the first quarter of 2024. The Company also recorded a restructuring charge of $ 3.8 million during the first quarter of 2024 related to closing one floor of its offices located at 150 Spear Street, San Francisco, California, of which $ 3.2 million related to an impairment of a right-of-use asset and $ 0.6 million related to an impairment of leasehold improvements. The accrued restructuring and related costs as of March 31, 2024 will be fully paid by the end of 2024. The following table rolls forward the activity in the restructuring accrual for the February 2024 action for the three months ended March 31, 2024 (in thousands): Accrual at December 31, 2023 $ 732 Additional restructuring and related costs 6,571 Non-cash charge (included above) ( 3,806 ) Cash payments ( 1,256 ) Accrual at March 31, 2024 $ 2,241

Operating Segments

Operating Segments	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Operating Segments	Note 14 — Operating Segments The Company's chief operating decision-maker (used in determining the Company's segments) is the chief executive officer and the chief financial officer. The Company operates in three segments: Research, Consulting, and Events. These segments, which are also the Company's reportable segments, are based on the management structure of the Company and how the chief operating decision maker uses financial information to evaluate performance and determine how to allocate resources. The Company’s products and services are delivered through each segment as described below. The Research segment includes the revenues from all of the Company’s research products as well as consulting revenues from advisory services (such as speeches and advisory days) delivered by the Company’s research organization. Research segment costs include the cost of the organizations responsible for developing and delivering these products in addition to the costs of the product management organization responsible for product pricing and packaging, and the launch of new products. The Consulting segment includes the revenues and the related costs of the Company’s project consulting organization. The project consulting organization delivers a majority of the Company’s project consulting revenue and certain advisory services. The Events segment includes the revenues and the costs of the organization responsible for developing and hosting in-person and virtual events. The Company evaluates reportable segment performance and allocates resources based on segment revenues and expenses. Segment expenses include the direct expenses of each segment organization and exclude selling and marketing expenses, general and administrative expenses, stock-based compensation expense, depreciation expense, adjustments to incentive bonus compensation from target amounts, amortization of intangible assets, restructuring and related costs, interest expense, and other income. The accounting policies used by the segments are the same as those used in the consolidated financial statements. The Company provides information by reportable segment in the tables below (in thousands): Research Segment Consulting Segment Events Segment Consolidated Three Months Ended March 31, 2024 Research revenues $ 76,581 $ — $ — $ 76,581 Consulting revenues 4,643 18,498 — 23,141 Events revenues — — 355 355 Total segment revenues 81,224 18,498 355 100,077 Segment expenses ( 33,514 ) ( 10,097 ) ( 1,486 ) ( 45,097 ) Selling, marketing, administrative and other expenses ( 55,134 ) Amortization of intangible assets ( 2,514 ) Restructuring costs ( 6,624 ) Interest expense and other income 512 Loss before income taxes $ ( 8,780 ) Research Segment Consulting Segment Events Segment Consolidated Three Months Ended March 31, 2023 Research revenues $ 80,906 $ — $ — $ 80,906 Consulting revenues 7,919 23,831 — 31,750 Events revenues — — 1,014 1,014 Total segment revenues 88,825 23,831 1,014 113,670 Segment expenses ( 35,507 ) ( 12,353 ) ( 1,631 ) ( 49,491 ) Selling, marketing, administrative and other expenses ( 64,664 ) Amortization of intangible assets ( 3,066 ) Restructuring costs ( 1,589 ) Interest expense and other income ( 243 ) Loss before income taxes $ ( 5,383 )

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 15 — Contingencies From time to time, the Company may be subject to legal proceedings and civil and regulatory claims that arise in the ordinary course of its business activities. Regardless of the outcome, legal proceedings and claims can have a material adverse effect on the Company because of defense and settlement costs, diversion of management resources, and other factors. It is the Company's policy to record accruals for legal contingencies to the extent that it has concluded that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated, and to expense costs associated with loss contingencies, including any related legal fees, as they are incurred. The Company reviews its loss contingencies at least quarterly and adjusts its accruals and/or disclosures to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, or other new information, as deemed necessary. Once established, a provision may change in the future due to new developments or changes in circumstances and could increase or decrease the Company’s earnings in the period that the changes are made. Following an April 2023 mediation in a wage-related matter that resulted in a settlement agreement, the Company accrued $ 4.8 million of expense in the quarter ended March 31, 2023 that is classified in general and administrative expense in the Consolidated Statement of Operations. This claim was fully paid in the first quarter of 2024.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 16 — Subsequent Events On April 30, 2024, the Company announced that its Board of Directors has authorized a $ 25.0 million increase in the Company’s stock repurchase program, bringing the total available authorization to approximately $ 89.0 million as of April 30, 2024. The shares may be purchased in the open market or privately negotiated transactions.

Interim Consolidated Financia_2

Interim Consolidated Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	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	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 statement of cash flows $ 63,492 $ 106,288 (1) Restricted cash consists of collateral required for leased office space. The short-term or long-term classification regarding the collateral for the leased office space is determined in accordance with the expiration of the underlying leases.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . The new standard enhances the disclosures of reportable segment information, primarily in regards to significant segment expenses. The new standard will be effective for the Company for the annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of adoption of the standard on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The new standard enhances income tax disclosure requirements by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and providing clarification on uncertain tax positions and related financial statement impacts. The new standard will be effective for the Company on January 1, 2025, with early adoption permitted. The Company is currently evaluating the impact of adoption of the standard on its consolidated financial statements.

Interim Consolidated Financia_3

Interim Consolidated Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of End-of-period Cash and Cash Equivalents and Cash, Cash Equivalents and Restricted Cash from Financial Statements	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 statement of cash flows $ 63,492 $ 106,288 (1) Restricted cash consists of collateral required for leased office space. The short-term or long-term classification regarding the collateral for the leased office space is determined in accordance with the expiration of the underlying leases.

Marketable Investments (Tables)

Marketable Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Company's marketable investments	The following table summarizes the Company’s marketable investments (in thousands): As of March 31, 2024 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Corporate obligations $ 21,989 $ — $ ( 66 ) $ 21,923 Federal agency obligations 2,000 — ( 4 ) 1,996 Money market funds 33,176 — — 33,176 Total $ 57,165 $ — $ ( 70 ) $ 57,095 As of December 31, 2023 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Corporate obligations $ 18,049 $ — $ ( 72 ) $ 17,977 Federal agency obligations 2,000 — ( 7 ) 1,993 Money market funds 31,610 — — 31,610 Total $ 51,659 $ — $ ( 79 ) $ 51,580
Summarizes the maturity periods of the marketable investments	The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of March 31, 2024 (in thousands). FY 2024 FY 2025 Total Corporate obligations $ 19,475 $ 2,448 $ 21,923 Federal agency obligations 1,996 — 1,996 Money market funds 33,176 — 33,176 Total $ 54,647 $ 2,448 $ 57,095
Unrealized Losses on Debt Investments	The following table shows the gross unrealized losses and market value of the Company’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): As of March 31, 2024 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Corporate obligations $ 17,026 $ 16 $ 4,897 $ 50 Federal agency obligations — — 1,996 4 Total $ 17,026 $ 16 $ 6,893 $ 54 As of December 31, 2023 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Corporate obligations $ 13,098 $ 8 $ 4,879 $ 64 Federal agency obligations — — 1,993 7 Total $ 13,098 $ 8 $ 6,872 $ 71

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Change in Carrying Amount of Goodwill	The change in the carrying amount of goodwill for the three months ended March 31, 2024 is summarized as follows (in thousands): Total Balance at December 31, 2023 $ 244,257 Translation adjustments ( 1,229 ) Balance at March 31, 2024 $ 243,028
Summary of Carrying Values of Finite-Lived Intangible Assets	The carrying values of finite-lived intangible assets are as follows (in thousands): March 31, 2024 Gross Net Carrying Accumulated Carrying Amount Amortization Amount Amortizable intangible assets: Customer relationships $ 77,626 $ 44,183 $ 33,443 Technology 16,290 15,881 409 Trademarks 12,484 11,263 1,221 Total $ 106,400 $ 71,327 $ 35,073 December 31, 2023 Gross Net Carrying Accumulated Carrying Amount Amortization Amount Amortizable intangible assets: Customer relationships $ 77,640 $ 42,091 $ 35,549 Technology 16,524 15,950 574 Trademarks 12,519 11,005 1,514 Total $ 106,683 $ 69,046 $ 37,637
Summary of Estimated Intangible Assets Amortization Expense	Estimated intangible asset amortization expense for each of the five succeeding years is as follows (in thousands): 2024 (remainder) $ 7,401 2025 8,875 2026 8,392 2027 8,324 2028 2,081 Total $ 35,073

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Summary of Company's Total Outstanding Borrowings	The following table summarizes the Company’s total outstanding borrowings as of the dates indicated (in thousands): Description: March 31, 2024 December 31, 2023 Credit facility $ 35,000 $ 35,000

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Summary of Components of Lease Expense	The components of lease expense were as follows (in thousands): For the Three Months Ended March 31, 2024 2023 Operating lease cost $ 3,094 $ 3,314 Short-term lease cost 214 261 Variable lease cost 1,230 785 Sublease income ( 130 ) ( 131 ) Total lease cost $ 4,408 $ 4,229
Summary of Additional Lease Information	Additional lease information is summarized in the following table (in thousands, except lease term and discount rate): For the Three Months Ended March 31, 2024 2023 Cash paid for amounts included in the measurement of operating $ 3,630 $ 3,374 Operating lease ROU assets obtained in exchange for lease $ 408 $ 1,323 Weighted-average remaining lease term - operating leases (years) 4.1 4.9 Weighted-average discount rate - operating leases 4.2 % 4.3 %
Summary of Future Minimum Lease Payments and Sublease Cash Receipts Under Non-Cancelable Leases	Future minimum lease payments under non-cancelable leases and estimated future sublease cash receipts from non-cancelable arrangements as of March 31, 2024 are as follows (in thousands): Operating Lease Sublease Payments Cash Receipts 2024 (remainder) $ 12,209 $ 471 2025 13,933 — 2026 12,325 — 2027 5,707 — 2028 2,875 — Thereafter 6,024 — Total lease payments and estimated sublease cash receipts 53,073 $ 471 Less imputed interest ( 4,515 ) Present value of lease liabilities $ 48,558
Summary of Lease Balances	Lease balances as of March 31, 2024 are as follows (in thousands): Operating lease ROU assets $ 34,380 Short-term operating lease liabilities (1) $ 14,086 Non-current operating lease liabilities 34,472 Total operating lease liabilities $ 48,558 (1) Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.

Revenue and Related Matters (Ta

Revenue and Related Matters (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Geography and Recognition Timing	The Company disaggregates revenue as set forth in the following tables (in thousands): Revenue by Geography For the Three Months Ended March 31, Revenues: (1) 2024 2023 North America $ 79,629 $ 92,671 Europe 13,437 13,712 Asia Pacific 4,891 5,382 Other 2,120 1,905 Total $ 100,077 $ 113,670 (1) Revenue location is determined based on where the products and services are consumed.
Summary of Allowance for Expected Credit Losses on Accounts Receivable	The allowance for expected credit losses on accounts receivable for the three months ended March 31, 2024 is summarized as follows (in thousands): Total Balance at December 31, 2023 $ 574 Provision for expected credit losses 223 Write-offs ( 33 ) Balance at March 31, 2024 $ 764

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Contract Amounts Recognized in Consolidated Statements of Income	The table below provides information regarding amounts recognized in the Consolidated Statements of Operations for the derivative contracts for the periods indicated (in thousands): Three Months Ended March 31, Amount recorded in: 2024 2023 Other income, net $ ( 14 ) $ 62

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Summary of Company's Fair Value Hierarchy for its Financial Assets and Liabilities	The following table represents the Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): As of March 31, 2024 Level 1 Level 2 Total Assets: Money market funds (1) $ 43,726 $ — $ 43,726 Marketable investments (3) — 23,919 23,919 Total Assets $ 43,726 $ 23,919 $ 67,645 As of December 31, 2023 Level 1 Level 2 Total Assets: Money market funds (2) $ 55,128 $ — $ 55,128 Marketable investments (3) — 19,970 19,970 Total Assets $ 55,128 $ 19,970 $ 75,098 (1) U.S. based funds o f $ 10.5 million are included in cash and cash equivalents and non-U.S. based funds of $ 33.2 million are included in marketable investments in the Consolidated Balance Sheets. (2) U.S. based funds of $ 23.5 million are included in cash and cash equivalents and non-U.S. based funds of $ 31.6 million are included in marketable investments in the Consolidated Balance Sheets. (3) Marketable investments have been initially valued at the transaction price and subsequently valued, at the end of the reporting period, utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation methods, including both income and market-based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss ("AOCL") (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive loss are as follows (net of tax, in thousands): Marketable Translation Investments Adjustment Total AOCL Balance at December 31, 2023 $ ( 60 ) $ ( 4,511 ) $ ( 4,571 ) Foreign currency translation (1) — ( 1,968 ) ( 1,968 ) Unrealized gain, net of tax of $( 2 ) 6 — 6 Balance at March 31, 2024 $ ( 54 ) $ ( 6,479 ) $ ( 6,533 ) Marketable Translation Investments Adjustment Total AOCL Balance at December 31, 2022 $ ( 159 ) $ ( 7,759 ) $ ( 7,918 ) Foreign currency translation (1) — 1,206 1,206 Unrealized gain, net of tax of $( 11 ) 33 — 33 Balance at March 31, 2023 $ ( 126 ) $ ( 6,553 ) $ ( 6,679 ) (1) The Company does not record tax provisions or benefits for the net changes in foreign currency translation adjustments as it intends to permanently reinvest undistributed earnings of its foreign subsidiaries.

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Weighted Average Common Shares	Basic and diluted weighted average common shares are as follows (in thousands): Three Months Ended March 31, 2024 2023 Basic weighted average common shares outstanding 19,285 19,108 Weighted average common equivalent shares — — Diluted weighted average common shares outstanding 19,285 19,108 Options and restricted stock units excluded from diluted 1,082 703

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Components of Stockholders' Equity	The components of stockholders’ equity are as follows (in thousands): Three Months Ended March 31, 2024 Common Stock Treasury Stock Accumulated Number $0.01ParValue Additional Retained Number Cost Other Total Balance at December 31, 2023 24,684 $ 247 $ 278,057 $ 177,681 5,437 $ ( 211,149 ) $ ( 4,571 ) $ 240,265 Issuance of common stock under 197 2 ( 178 ) — — — — ( 176 ) Repurchases of common stock — — — — 202 ( 4,097 ) — ( 4,097 ) Stock-based compensation expense — — 3,574 — — — — 3,574 Net loss — — — ( 6,673 ) — — — ( 6,673 ) Net change in marketable investments, — — — — — — 6 6 Foreign currency translation — — — — — — ( 1,968 ) ( 1,968 ) Balance at March 31, 2024 24,881 $ 249 $ 281,453 $ 171,008 5,639 $ ( 215,246 ) $ ( 6,533 ) $ 230,931 Three Months Ended March 31, 2023 Common Stock Treasury Stock Accumulated Number $0.01ParValue Additional Retained Number Cost Other Total Balance at December 31, 2022 24,367 $ 244 $ 261,766 $ 174,631 5,305 $ ( 207,067 ) $ ( 7,918 ) $ 221,656 Issuance of common stock under 128 1 760 — — — — 761 Stock-based compensation expense — — 3,165 — — — — 3,165 Net loss — — — ( 4,075 ) — — — ( 4,075 ) Net change in marketable investments, — — — — — — 33 33 Foreign currency translation — — — — — — 1,206 1,206 Balance at March 31, 2023 24,495 $ 245 $ 265,691 $ 170,556 5,305 $ ( 207,067 ) $ ( 6,679 ) $ 222,746
Schedule of Restricted Stock Unit Activity	Restricted stock unit activity for the three months ended March 31, 2024 is presented below (in thousands, except per share data): Weighted- Average Number of Grant Date Shares Fair Value Unvested at December 31, 2023 999 $ 37.66 Granted 163 25.34 Vested ( 185 ) 40.55 Forfeited ( 37 ) 37.64 Unvested at March 31, 2024 940 $ 34.97
Schedule of Stock Option Activity	Stock option activity for the three months ended March 31, 2024 is presented below (in thousands, except per share data and contractual term): Weighted - Weighted - Average Average Exercise Remaining Aggregate Number Price Per Contractual Intrinsic of Shares Share Term (in years) Value Outstanding at December 31, 2023 201 $ 33.93 Forfeited ( 12 ) 36.92 Outstanding at March 31, 2024 189 $ 33.74 6.44 $ — Exercisable at March 31, 2024 93 $ 34.47 3.86 $ — Vested and expected to vest at March 31, 2024 189 $ 33.74 6.44 $ — No stock options were granted or exercised during the three months ended March 31, 2024 .
Summary of Stock-Based Compensation Recorded in Expense Categories in Consolidated Statements of Operations	Stock-based compensation was recorded in the following expense categories in the Consolidated Statements of Operations (in thousands): Three Months Ended March 31, 2024 2023 Cost of services and fulfillment $ 2,122 $ 1,847 Selling and marketing 599 497 General and administrative 853 821 Total $ 3,574 $ 3,165
Fair Value of Options Granted Under Equity Incentive Plan and Shares Subject to Employee Stock Purchase Plan Valuation Assumptions	Forrester utilizes the Black-Scholes valuation model for estimating the fair value of options granted under the equity incentive plans and shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions: Three Months Ended March 31, 2024 2023 Employee Stock Purchase Plan Equity Incentive Plans Employee Stock Purchase Plan Average risk-free interest rate 5.36 % 4.27 % 5.00 % Expected dividend yield 0.0 % 0.0 % 0.0 % Expected life 0.5 Years 4.75 Years 0.5 Years Expected volatility 39 % 43 % 46 % Weighted average fair value $ 5.46 $ 14.24 $ 9.47

Restructuring and Related Cos_2

Restructuring and Related Costs (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Activity in Restructuring Accrual	The following table rolls forward the activity in the restructuring accrual for the January 2023 action for the three months ended March 31, 2024 (in thousands): Accrual at December 31, 2023 $ 48 Additional restructuring and related costs 14 Cash payments ( 62 ) Accrual at March 31, 2024 $ — The following table rolls forward the activity in the restructuring accrual for the May 2023 action for the three months ended March 31, 2024 (in thousands): Accrual at December 31, 2023 $ 1,282 Additional restructuring and related costs 39 Cash payments ( 820 ) Accrual at March 31, 2024 $ 501 The following table rolls forward the activity in the restructuring accrual for the February 2024 action for the three months ended March 31, 2024 (in thousands): Accrual at December 31, 2023 $ 732 Additional restructuring and related costs 6,571 Non-cash charge (included above) ( 3,806 ) Cash payments ( 1,256 ) Accrual at March 31, 2024 $ 2,241

Operating Segments (Tables)

Operating Segments (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Information about Reportable Segments, Disaggregation of Revenue by Product	The Company provides information by reportable segment in the tables below (in thousands): Research Segment Consulting Segment Events Segment Consolidated Three Months Ended March 31, 2024 Research revenues $ 76,581 $ — $ — $ 76,581 Consulting revenues 4,643 18,498 — 23,141 Events revenues — — 355 355 Total segment revenues 81,224 18,498 355 100,077 Segment expenses ( 33,514 ) ( 10,097 ) ( 1,486 ) ( 45,097 ) Selling, marketing, administrative and other expenses ( 55,134 ) Amortization of intangible assets ( 2,514 ) Restructuring costs ( 6,624 ) Interest expense and other income 512 Loss before income taxes $ ( 8,780 ) Research Segment Consulting Segment Events Segment Consolidated Three Months Ended March 31, 2023 Research revenues $ 80,906 $ — $ — $ 80,906 Consulting revenues 7,919 23,831 — 31,750 Events revenues — — 1,014 1,014 Total segment revenues 88,825 23,831 1,014 113,670 Segment expenses ( 35,507 ) ( 12,353 ) ( 1,631 ) ( 49,491 ) Selling, marketing, administrative and other expenses ( 64,664 ) Amortization of intangible assets ( 3,066 ) Restructuring costs ( 1,589 ) Interest expense and other income ( 243 ) Loss before income taxes $ ( 5,383 )

Interim Consolidated Financia_4

Interim Consolidated Financial Statements - Additional Information (Detail)	Mar. 31, 2024
ASU No. 2019-12 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, immaterial effect	true
ASU No. 2021-01 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, immaterial effect	true
ASU No. 2023-07 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, immaterial effect	true

Interim Consolidated Financia_5

Interim Consolidated Financial Statements - Summary of End-of-period Cash and Cash Equivalents and Cash, Cash Equivalents and Restricted Cash from Financial Statements (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents shown in balance sheets	$ 61,379	$ 72,909	$ 104,217
Restricted cash classified in other assets	$ 2,113		$ 2,071
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List]	Other assets		Other assets
Cash, cash equivalents and restricted cash shown in statement of cash flows	$ 63,492		$ 106,288

Marketable Investments - Summar

Marketable Investments - Summary of Company's marketable investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 57,165	$ 51,659
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(70)	(79)
Market value	57,095	51,580
Corporate obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	21,989	18,049
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(66)	(72)
Market value	21,923	17,977
Federal agency obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,000	2,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(4)	(7)
Market value	1,996	1,993
Money Market Funds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	33,176	31,610
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Market value	$ 33,176	$ 31,610

Marketable Investments - Additi

Marketable Investments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Realized gains or losses on investments	$ 0	$ 0

Marketable Investments - Summ_2

Marketable Investments - Summarizes the maturity periods of the marketable investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
FY 2024	$ 54,647
FY 2025	2,448
Market value	57,095	$ 51,580
Corporate obligations [Member]
Marketable Securities [Line Items]
FY 2024	19,475
FY 2025	2,448
Market value	21,923	17,977
Federal agency obligations [Member]
Marketable Securities [Line Items]
FY 2024	1,996
FY 2025	0
Market value	1,996	1,993
Money Market Funds [Member]
Marketable Securities [Line Items]
FY 2024	33,176
FY 2025	0
Market value	$ 33,176	$ 31,610

Marketable Investments - Unreal

Marketable Investments - Unrealized Losses on Debt Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months - Market Value	$ 17,026	$ 13,098
Less than 12 Months - Unrealized Losses	16	8
12 Months or Greater - Market Value	6,893	6,872
12 Months or Greater - Unrealized Losses	54	71
Corporate obligations [Member]
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months - Market Value	17,026	13,098
Less than 12 Months - Unrealized Losses	16	8
12 Months or Greater - Market Value	4,897	4,879
12 Months or Greater - Unrealized Losses	50	64
Federal agency obligations [Member]
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months - Market Value	0	0
Less than 12 Months - Unrealized Losses	0	0
12 Months or Greater - Market Value	1,996	1,993
12 Months or Greater - Unrealized Losses	$ 4	$ 7

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Line Items]
Accumulated goodwill impairment losses	$ 0
Consulting [Member]
Goodwill [Line Items]
Goodwill impairment charges	0
Goodwill allocated to reporting unit	$ 8,200

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Beginning Balance	$ 244,257
Translation adjustments	(1,229)
Goodwill, Ending Balance	$ 243,028

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Carrying Values of Finite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 106,400	$ 106,683
Accumulated Amortization	71,327	69,046
Total	35,073	37,637
Customer Relationships Member
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	77,626	77,640
Accumulated Amortization	44,183	42,091
Total	33,443	35,549
Technology Member
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	16,290	16,524
Accumulated Amortization	15,881	15,950
Total	409	574
Trademarks Member
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,484	12,519
Accumulated Amortization	11,263	11,005
Total	$ 1,221	$ 1,514

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Summary of Estimated Intangible Assets Amortization Expense (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets Future Amortization Expense [Abstract]
2024 (remainder)	$ 7,401
2025	8,875
2026	8,392
2027	8,324
2028	2,081
Total	$ 35,073	$ 37,637

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2026
Debt Instrument [Line Items]
Percentage of voting equity of subsidiaries	65%
Debt instrument interest rate	6.68%
Line of credit facility, available borrowing capacity	$ 114.4
Weighted average interest rate	6.6883%
Letters of Credit [Member]
Debt Instrument [Line Items]
Available for issuance of letter of credit	$ 5
Issuance of letter of credit	$ 0.6
Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maturity date	Dec. 31, 2026
Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 150
Increase (decrease) in line of credit facility	$ 50

Debt - Summary of Company's Tot

Debt - Summary of Company's Total Outstanding Borrowings (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal amount outstanding	$ 35,000	$ 35,000

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease cost	$ 3,094	$ 3,314
Short-term lease cost	214	261
Variable lease cost	1,230	785
Sublease income	(130)	(131)
Total lease cost	$ 4,408	$ 4,229

Leases - Summary of Additional

Leases - Summary of Additional Lease Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 3,630	$ 3,374
Operating lease ROU assets obtained in exchange for lease obligations	$ 408	$ 1,323
Weighted-average remaining lease term - operating leases (years)	4 years 1 month 6 days	4 years 10 months 24 days
Weighted-average discount rate - operating leases	4.20%	4.30%

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments and Sublease Cash Receipts Under Non-Cancelable Leases (Detail) $ in Thousands	Mar. 31, 2024 USD ($)
Operating Lease Payments
2024 (remainder)	$ 12,209
2025	13,933
2026	12,325
2027	5,707
2028	2,875
Thereafter	6,024
Total lease payments and estimated sublease cash receipts	53,073
Less imputed interest	(4,515)
Present value of lease liabilities	48,558
Sublease Cash Receipts
2024 (remainder)	471
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total lease payments and estimated sublease cash receipts	$ 471

Leases - Summary of Lease Balan

Leases - Summary of Lease Balances (Detail) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease ROU assets		$ 34,380	$ 39,722
Short-term operating lease liabilities	[1]	$ 14,086
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		Accrued expenses and other current liabilities
Non-current operating lease liabilities		$ 34,472	$ 37,673
Total operating lease liabilities		$ 48,558
[1] Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	May 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Right-of-use asset impairments	$ 1,300	$ 3,200		$ 3,700
Leasehold impairments	$ 600	646	$ 0	$ 1,300
California [Member]
Lessee, Lease, Description [Line Items]
Right-of-use asset impairments			$ 400
California [Member] | Lease hold Improvements Member
Lessee, Lease, Description [Line Items]
Leasehold impairments		$ 600

Revenue and Related Matters - S

Revenue and Related Matters - Schedule of Disaggregation of Revenue by Geography and Recognition Timing (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Revenue	$ 100,077	$ 113,670
North America [Member]
Disaggregation Of Revenue [Line Items]
Revenue	79,629	92,671
Europe [Member]
Disaggregation Of Revenue [Line Items]
Revenue	13,437	13,712
Asia Pacific [Member]
Disaggregation Of Revenue [Line Items]
Revenue	4,891	5,382
Other [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 2,120	$ 1,905

Revenue and Related Matters - A

Revenue and Related Matters - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets	$ 0	$ 0
Deferred revenue recognized	62,500,000	72,900,000
Revenue expected to be recognized	378,400,000
Amortization expense related to deferred commissions	7,900,000	8,600,000
Impairment of deferred commissions	$ 0	$ 0
Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customer, expected payment term	one year

Revenue and Related Matters -_2

Revenue and Related Matters - Additional Information1 (Detail)	Mar. 31, 2024
Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, revenue expected to be recognized	24 months

Revenue and Related Matters -_3

Revenue and Related Matters - Summary of Allowance for Expected Credit Losses on Accounts Receivable (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Receivables [Abstract]
Balance at December 31, 2023	$ 574
Provision for expected credit losses	223
Write-offs	(33)
Balance at March 31, 2024	$ 764

Derivatives and Hedging - Sched

Derivatives and Hedging - Schedule of Derivative Contract Amounts Recognized in Consolidated Statements of Income (Detail) - Other Income, Net [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments Gain Loss [Line Items]
Amount recorded in operations	$ (14)	$ 62
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Company's Fair Value Hierarchy for its Financial Assets and Liabilities (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands		Mar. 31, 2024		Dec. 31, 2023
Assets:
Fair value of investments		$ 67,645		$ 75,098
Money Market Funds [Member]
Assets:
Fair value of cash equivalents		43,726	[1]	55,128	[2]
Marketable Investments [Member]
Assets:
Fair value of investments	[3]	23,919		19,970
Level 1 [Member]
Assets:
Fair value of investments		43,726		55,128
Level 1 [Member] | Money Market Funds [Member]
Assets:
Fair value of cash equivalents		43,726	[1]	55,128	[2]
Level 1 [Member] | Marketable Investments [Member]
Assets:
Fair value of investments	[3]	0		0
Level 2 [Member]
Assets:
Fair value of investments		23,919		19,970
Level 2 [Member] | Money Market Funds [Member]
Assets:
Fair value of cash equivalents		0	[1]	0	[2]
Level 2 [Member] | Marketable Investments [Member]
Assets:
Fair value of investments	[3]	$ 23,919		$ 19,970
[1] U.S. based funds o f $ 10.5 million are included in cash and cash equivalents and non-U.S. based funds of $ 33.2 million are included in marketable investments in the Consolidated Balance Sheets. U.S. based funds of $ 23.5 million are included in cash and cash equivalents and non-U.S. based funds of $ 31.6 million are included in marketable investments in the Consolidated Balance Sheets. Marketable investments have been initially valued at the transaction price and subsequently valued, at the end of the reporting period, utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation methods, including both income and market-based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events.

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Company's Fair Value Hierarchy for its Financial Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
cash and cash equivalent [Member] | Private Equity Funds, US [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash equivalents	$ 10.5	$ 23.5
Marketable investment [Member] | Private Equity Funds, Non-US [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	$ 33.2	$ 31.6

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024
Income Taxes [Line Items]
Income tax benefit	$ (2,107)	$ (1,308)
Effective income tax rate	24%	24.30%
Scenario, Forecast [Member]
Income Taxes [Line Items]
Effective income tax rate			50%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss ("AOCL") - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		$ 240,265	$ 221,656
Foreign currency translation		(1,968)	1,206
Unrealized gain (loss), net of tax		(2)	(11)
Ending Balance		230,931	222,746
Marketable Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(60)	(159)
Foreign currency translation	[1]	0	0
Unrealized gain (loss), net of tax		6	33
Ending Balance		(54)	(126)
Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(4,511)	(7,759)
Foreign currency translation	[1]	(1,968)	1,206
Unrealized gain (loss), net of tax		0	0
Ending Balance		(6,479)	(6,553)
Total AOCL [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(4,571)	(7,918)
Foreign currency translation	[1]	(1,968)	1,206
Unrealized gain (loss), net of tax		6	33
Ending Balance		$ (6,533)	$ (6,679)
[1] The Company does not record tax provisions or benefits for the net changes in foreign currency translation adjustments as it intends to permanently reinvest undistributed earnings of its foreign subsidiaries.

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss ("AOCL") - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Unrealized gain (loss), net of tax	$ (2)	$ (11)

Net Loss Per Common Share - Sch

Net Loss Per Common Share - Schedule of Basic and Diluted Weighted Average Common Shares (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	19,285	19,108
Weighted average common equivalent shares	0	0
Diluted weighted average common shares outstanding	19,285	19,108
Options and restricted stock units excluded from diluted weighted average share calculation as effect would have been anti-dilutive	1,082	703

Stockholders' Equity - Componen

Stockholders' Equity - Components of Stockholders' Equity (Detail) - USD ($)		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Beginning Balance		$ 240,265,000	$ 221,656,000
Issuance of common stock under stock plans, including tax effects		$ (176,000)	$ 761,000
Repurchases of common stock, Shares		200,000	0
Repurchases of common stock		$ (4,097,000)
Stock-based compensation expense		$ 3,574,000	$ 3,165,000
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Net loss		$ (6,673,000)	(4,075,000)
Net change in marketable investments, net of tax		6,000	33,000
Foreign currency translation		(1,968,000)	1,206,000
Ending Balance		230,931,000	222,746,000
Common Stock [Member]
Beginning Balance		$ 247,000	$ 244,000
Beginning Balance, Shares		24,684,000	24,367,000
Issuance of common stock under stock plans, including tax effects		$ 2,000	$ 1,000
Issuance of common stock under,stock plans including tax effects, Shares		197,000	128,000
Ending Balance		$ 249,000	$ 245,000
Ending Balance, Shares		24,881,000	24,495,000
Additional Paid-in Capital [Member]
Beginning Balance		$ 278,057,000	$ 261,766,000
Issuance of common stock under stock plans, including tax effects		(178,000)	760,000
Stock-based compensation expense		3,574,000	3,165,000
Ending Balance		281,453,000	265,691,000
Retained Earnings [Member]
Beginning Balance		177,681,000	174,631,000
Net loss		(6,673,000)	(4,075,000)
Ending Balance		171,008,000	170,556,000
Treasury Stock [Member]
Beginning Balance		$ (211,149,000)	$ (207,067,000)
Beginning Balance, Shares		5,437,000	5,305,000
Repurchases of common stock, Shares		202,000
Repurchases of common stock		$ (4,097,000)
Ending Balance		$ (215,246,000)	$ (207,067,000)
Ending Balance, Shares		5,639,000	5,305,000
Accumulated Other Comprehensive Loss [Member]
Beginning Balance		$ (4,571,000)	$ (7,918,000)
Net change in marketable investments, net of tax		6,000	33,000
Foreign currency translation	[1]	(1,968,000)	1,206,000
Ending Balance		$ (6,533,000)	$ (6,679,000)
[1] The Company does not record tax provisions or benefits for the net changes in foreign currency translation adjustments as it intends to permanently reinvest undistributed earnings of its foreign subsidiaries.

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Unvested, Beginning Balance | shares	999
Number of Shares, Granted | shares	163
Number of Shares, Vested | shares	(185)
Number of Shares, Forfeited | shares	(37)
Number of Shares, Unvested, Ending Balance | shares	940
Weighted-Average Grant Date Fair Value, Unvested, Beginning Balance | $ / shares	$ 37.66
Weighted-Average Grant Date Fair Value, Granted | $ / shares	25.34
Weighted-Average Grant Date Fair Value, Vested | $ / shares	40.55
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares	37.64
Weighted-Average Grant Date Fair Value, Unvested, Ending Balance | $ / shares	$ 34.97

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Shares, Outstanding, Beginning Balance | shares	201
Number of Shares, Forfeited | shares	(12)
Number of Shares, Outstanding, Ending Balance | shares	189
Number of Shares, Exercisable at March 31, 2024 | shares	93
Number of Shares, Vested and expected to vest at March 31, 2024 | shares	189
Weighted - Average Exercise Price Per Share, Outstanding, Beginning balance | $ / shares	$ 33.93
Weighted - Average Exercise Price Per Share, Forfeited | $ / shares	36.92
Weighted - Average Exercise Price Per Share, Outstanding, Ending balance | $ / shares	33.74
Weighted - Average Exercise Price Per Share, Exercisable at March 31, 2024 | $ / shares	34.47
Weighted - Average Exercise Price Per Share, Vested and expected to vest at March 31, 2024 | $ / shares	$ 33.74
Weighted - Average Remaining Contractual Term, Outstanding at March 31, 2024	6 years 5 months 8 days
Weighted - Average Remaining Contractual Term, Exercisable at March 31, 2024	3 years 10 months 9 days
Weighted - Average Remaining Contractual Term, Vested and expected to vest at March 31, 2024	6 years 5 months 8 days
Aggregate Intrinsic Value, Outstanding at March 31, 2024 | $	$ 0
Aggregate Intrinsic Value, Exercisable at March 31, 2024 | $	0
Aggregate Intrinsic Value, Vested and expected to vest at March 31, 2024 | $	$ 0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Authorized to purchase of common stock under the stock repurchase program	$ 585,000
Number of stock options granted	0
Number of Shares, Exercised	0
Repurchase of common stock	200,000	0
Repurchase of common stock, Value	$ 4,097
Cumulative repurchase of common stock	17,300,000
Aggregate cost of repurchase of common stock	$ 518,200

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock-Based Compensation Recorded in Expense Categories in Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	$ 3,574	$ 3,165
Cost of Services and Fulfillment [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	2,122	1,847
Selling and Marketing [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	599	497
General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	$ 853	$ 821

Stockholders' Equity - Fair Val

Stockholders' Equity - Fair Value of Options Granted Under Equity Incentive Plan and Shares Subject to Employee Stock Purchase Plan Valuation Assumptions (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free interest rate	5.36%	5%
Expected dividend yield	0%	0%
Expected life	6 months	6 months
Expected volatility	39%	46%
Weighted average fair value	$ 5.46	$ 9.47
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free interest rate		4.27%
Expected dividend yield		0%
Expected life		4 years 9 months
Expected volatility		43%
Weighted average fair value		$ 14.24

Restructuring and Related Cos_3

Restructuring and Related Costs - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended
	Feb. 29, 2024	May 31, 2023	Jan. 31, 2023	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Severance and related costs				$ 2,800	$ 700	$ 7,500	$ 600	$ 4,300
Restructuring Charges		$ 2,300		3,800				5,000
Right-of-use asset impairments		1,300		3,200				3,700
Leasehold impairments		600		$ 646			0	$ 1,300
Contract termination cost		$ 700
Reduction of Workforce Period Percent	3%	8%	4%
California [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges							400
Capitalized software project writeoff value							600
Right-of-use asset impairments							$ 400

Restructuring and Related Cos_4

Restructuring and Related Costs - Schedule of Activity in Restructuring Accrual (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Workforce reduction in january two thousand twenty three
Restructuring Cost and Reserve [Line Items]
Accrual at December 31, 2023	$ 48
Additional restructuring and related costs	14
Cash payments	(62)
Accrual at March 31, 2024	0
Workforce reduction in may two thousand twenty three
Restructuring Cost and Reserve [Line Items]
Accrual at December 31, 2023	1,282
Additional restructuring and related costs	39
Cash payments	(820)
Accrual at March 31, 2024	501
Workforce reduction in february two thousand twenty four
Restructuring Cost and Reserve [Line Items]
Accrual at December 31, 2023	732
Additional restructuring and related costs	6,571
Non-cash charge (included above)	(3,806)
Cash payments	(1,256)
Accrual at March 31, 2024	$ 2,241

Operating Segments - Additional

Operating Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024 Segment
Segment Reporting [Abstract]
Number of operating segments	3

Operating Segments - Schedule o

Operating Segments - Schedule of Information by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 100,077	$ 113,670
Segment expenses	(45,097)	(49,491)
Selling, marketing, administrative and other expenses	(55,134)	(64,664)
Amortization of intangible assets	(2,514)	(3,066)
Restructuring costs	(6,624)	(1,589)
Interest expense and other income	512	(243)
Loss before income taxes	(8,780)	(5,383)
Research Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	81,224	88,825
Segment expenses	(33,514)	(35,507)
Consulting Segment Member
Segment Reporting Information [Line Items]
Total revenues	18,498	23,831
Segment expenses	(10,097)	(12,353)
Events Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	355	1,014
Segment expenses	(1,486)	(1,631)
Research [Member]
Segment Reporting Information [Line Items]
Total revenues	76,581	80,906
Research [Member] | Research Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	76,581	80,906
Research [Member] | Consulting Segment Member
Segment Reporting Information [Line Items]
Total revenues	0	0
Research [Member] | Events Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0
Consulting [Member]
Segment Reporting Information [Line Items]
Total revenues	23,141	31,750
Consulting [Member] | Research Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	4,643	7,919
Consulting [Member] | Consulting Segment Member
Segment Reporting Information [Line Items]
Total revenues	18,498	23,831
Consulting [Member] | Events Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0
Events [Member]
Segment Reporting Information [Line Items]
Total revenues	355	1,014
Events [Member] | Research Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0
Events [Member] | Consulting Segment Member
Segment Reporting Information [Line Items]
Total revenues	0	0
Events [Member] | Events Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 355	$ 1,014

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	1 Months Ended
	Jan. 31, 2023 USD ($)
General and Administrative Expense [Member]
Loss Contingencies [Line Items]
Expense related to litigation	$ 4.8

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event [Member] $ in Millions	Apr. 30, 2024 USD ($)
Subsequent Event [Line Items]
Additional authorized amount	$ 25
Stock Repurchase Program, Authorized Amount	$ 89