A company still losing money with shrinking sales.
Going well
Little debt
Watch out for
Sales down 10% in the latest quarter vs a year ago
Losing money, losses are large next to sales
Bills due within a year exceed short-term assets
Money moves
No insider buying or selling in the last 30 days
Institutions added 1.6% to their holdings in the quarter ending June 2026 (53 bought, 57 sold)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$12.34-1.1% that day
Company value
$235M
Share price times all shares
Price vs sales
0.62x
No profit over the last year, so this compares value with sales instead
Cash vs value
25%
Cash as a share of company value
Debt vs value
15%
Debt as a share of company value
From FORR's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$100.2M-10% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $381.0M, down 7.5% from the 12 months before. Over 5 years, sales shrank about 2.4% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of FORR. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$251M
Profit in 5 years$25M
Price these guesses point to$19.79+60% vs $12.34 todayAbout +9.9% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales could shrink about 16% a year for 5 years and still match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/6Mixed
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-67.0%
PassDebt under half of equityNot relying on borrowed money.0.28x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-30.1%
MissProfitable every yearSteady profits, not one good year.7 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$18.1M
PassShare count not growingNot diluting owners. Falling means buybacks.-0.8% in 3 years
Revenue
$396.9M
-8.2% vs prior year
5-year growth
-2.4%/yr
revenue, per year
Total debt
$35.0M
0.28x equity
Current ratio
0.89x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Jul 30
Revenue
$100.2M
-10.2% YoY
EPS
$0.78
vs $0.20
Op. margin
3.4%
-2.8 pts
Gross margin
56.4%
+0.9 pts
Free cash flow
-$12.6M
Share count
+1.5%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
0.9
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady+1.6%
Institutions added 1.6% to their holdings. 53 bought, 57 sold. 3 quarters of net buying in a row.
Shares held by institutions11.5M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-0.3%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
0.3x · $35.0M debt
Shares outstandingLatest reported
19M
Why moderate risk
Losing money, losses are large next to sales
Earnings reports
Last 12
Next reportIn 1 days (est.)Estimated from the same quarter last year
Results filedJul 30
Results filedMay 6
Results filedFeb 12
Results filedOct 30, 2025
Results filedJul 31, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days
No offerings, red flags or new big holders. Clean record.
Insider trades
Open-market buys and sells, last 90 days
No open-market buys or sells in 90 days. Grants and option exercises are left out.
"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.