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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

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 in the accompanying Consolidated Statements of Cash Flows (in thousands).


	For the Year Ended December 31,
	2024		2023
Cash and cash equivalents shown in balance sheets	$	56,087	$	72,909
Restricted cash classified in other assets (1):		2,100		2,133
Cash, cash equivalents and restricted cash shown in statement of cash flows	$	58,187	$	75,042

(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.

Summary of Stock-Based Compensation Expense Recorded in Expense Categories

Stock-based compensation expense was recorded in the following expense categories (in thousands):


	Years Ended December 31,
	2024		2023		2022
Cost of services and fulfillment	$	8,700	$	9,068	$	8,435
Selling and marketing		2,164		2,943		2,774
General and administrative		3,479		3,475		3,334
Total	$	14,343	$	15,486	$	14,543

Shares Subject to Employee Stock Purchase Plan Valuation Assumptions

The options granted under the equity incentive plan and shares subject to the employee stock purchase plan were valued utilizing the Black-Scholes model using the following assumptions and had the following fair values (no options were granted in 2024 or 2022):



	2024			2023						2022
	Employee Stock Purchase Plan			Equity Incentive Plans			Employee Stock Purchase Plan			Employee Stock Purchase Plan
Average risk-free interest rate		4.55	%		4.27	%		5.51	%		3.71	%
Expected dividend yield		0.0	%		0.0	%		0.0	%		0.0	%
Expected life	0.5 Years			4.75 Years			0.5 Years			0.5 Years
Expected volatility		38	%		43	%		35	%		33	%
Weighted average fair value	$	4.86		$	14.24		$	7.90		$	10.22

Depreciation and Amortization of Property and Equipment, Useful Life

Forrester provides for depreciation and amortization of property and equipment, computed using the straight-line method, over their estimated useful lives of its assets as follows:


		Estimated
		Useful Life
Computers and equipment		3 to 10 Years
Computer software		3 to 5 Years
Furniture and fixtures		7 Years
Leasehold improvements		Shorter of asset life or lease term

Amortization of Intangible Assets, Estimated Useful Life

Forrester provides for amortization of intangible assets, computed using an accelerated method according to the expected cash flows to be received from the underlying assets, over their estimated useful lives as follows:


		Estimated
		Useful Life
Customer relationships		5 to 9 Years
Technology		1 to 8 Years
Trademarks		6 to 8 Years

Schedule of Basic and Diluted Weighted Average Common Shares

Basic and diluted weighted average common shares are as follows (in thousands):


	Years Ended December 31,
	2024		2023		2022
Basic weighted average common shares outstanding		19,094		19,183		18,967
Weighted average common equivalent shares		—		75		205
Diluted weighted average common shares outstanding		19,094		19,258		19,172
Options and restricted stock units excluded from diluted weighted average share calculation as effect would have been anti-dilutive		1,307		730		210