Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Components of Stockholders' Equity

The components of stockholders’ equity are as follows (in thousands):

	Three Months Ended September 30, 2020
	Common Stock										Treasury Stock					Accumulated
	Number of Shares		$0.01 Par Value		Additional Paid-in Capital			Retained Earnings			Number of Shares		Cost			Other Comprehensive Income (Loss)			Total Equity
Balance at June 30, 2020		23,401	$	234	$	222,778		$	129,314			4,631	$	(171,889	)	$	(7,028	)	$	173,409
Issuance of common stock under    stock plans, net		178		2		(422	)		—			—		—			—			(420	)
Stock-based compensation expense		—		—		2,697			—			—		—			—			2,697
Net loss		—		—		—			(3,760	)		—		—			—			(3,760	)
Other comprehensive income		—		—		—			—			—		—			2,782			2,782
Balance at September 30, 2020		23,579	$	236	$	225,053		$	125,554			4,631	$	(171,889	)	$	(4,246	)	$	174,708

	Three Months Ended September 30, 2019
	Common Stock										Treasury Stock					Accumulated
	Number of Shares		$0.01 Par Value		Additional Paid-in Capital			Retained Earnings			Number of Shares		Cost			Other Comprehensive Income (Loss)			Total Equity
Balance at June 30, 2019		23,089	$	231	$	210,378		$	115,956			4,631	$	(171,889	)	$	(4,990	)	$	149,686
Issuance of common stock under    stock plans, net		158		1		(794	)		—			—		—			—			(793	)
Stock-based compensation expense		—		—		3,072			—			—		—			—			3,072
Net loss		—		—		—			(2,699	)		—		—			—			(2,699	)
Other comprehensive loss		—		—		—			—			—		—			(1,614	)		(1,614	)
Balance at September 30, 2019		23,247	$	232	$	212,656		$	113,257			4,631	$	(171,889	)	$	(6,604	)	$	147,652

	Nine Months Ended September 30, 2020
	Common Stock									Treasury Stock					Accumulated
	Number of Shares		$0.01 Par Value		Additional Paid-in Capital		Retained Earnings			Number of Shares		Cost			Other Comprehensive Income (Loss)			Total Equity
Balance at December 31, 2019		23,275	$	233	$	216,454	$	118,147			4,631	$	(171,889	)	$	(4,857	)	$	158,088
Issuance of common stock under    stock plans, net		304		3		635		—			—		—			—			638
Stock-based compensation expense		—		—		7,964		—			—		—			—			7,964
Cumulative effect adjustment due    to adoption of new accounting    pronouncement, net of tax of $61		—		—		—		(157	)		—		—			—			(157	)
Net income		—		—		—		7,564			—		—			—			7,564
Other comprehensive income		—		—		—		—			—		—			611			611
Balance at September 30, 2020		23,579	$	236	$	225,053	$	125,554			4,631	$	(171,889	)	$	(4,246	)	$	174,708

	Nine Months Ended September 30, 2019
	Common Stock									Treasury Stock					Accumulated
	Number of Shares		$0.01 Par Value		Additional Paid-in Capital		Retained Earnings			Number of Shares		Cost			Other Comprehensive Income (Loss)			Total Equity
Balance at December 31, 2018		22,951	$	230	$	200,696	$	127,717			4,631	$	(171,889	)	$	(5,154	)	$	151,600
Issuance of common stock under    stock plans, net		296		2		3,355		—			—		—			—			3,357
Stock-based compensation expense		—		—		8,605		—			—		—			—			8,605
Net loss		—		—		—		(14,460	)		—		—			—			(14,460	)
Other comprehensive loss		—		—		—		—			—		—			(1,450	)		(1,450	)
Balance at September 30, 2019		23,247	$	232	$	212,656	$	113,257			4,631	$	(171,889	)	$	(6,604	)	$	147,652

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the nine months ended September 30, 2020 is presented below (in thousands, except per share data):

				Weighted-
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested at December 31, 2019		656		$	42.94
Granted		355			35.10
Vested		(267	)		42.21
Forfeited		(84	)		43.60
Unvested at September 30, 2020		660		$	38.94

Schedule of Stock Option Activity

Stock option activity for the nine months ended September 30, 2020 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, 2019		436		$	35.62
Granted		—			—
Exercised		(29	)		32.94
Forfeited		(53	)		37.75
Outstanding at September 30, 2020		354		$	35.52		3.26	$	28
Vested and Exercisable at September 30, 2020		354		$	35.52		3.26	$	28

Summary of Stock-Based Compensation Recorded in Expense Categories in Consolidated Statements of Operations

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				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Cost of services and fulfillment	$	1,638	$	1,782	$	4,463	$	4,812
Selling and marketing		446		441		1,231		1,366
General and administrative		613		849		2,270		2,427
Total	$	2,697	$	3,072	$	7,964	$	8,605

Shares Subject to Employee Stock Purchase Plan Valuation Assumptions

Forrester utilizes the Black-Scholes valuation model for estimating the fair value of shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2020			2019			2020			2019
Average risk-free interest rate		0.12	%		1.89	%		0.12	%		1.89	%
Expected dividend yield		0.0	%		0.0	%		0.0	%		0.0	%
Expected life	0.5 Years			0.5 Years			0.5 Years			0.5 Years
Expected volatility		93	%		30	%		93	%		30	%
Weighted average fair value	$	14.57		$	8.29		$	14.57		$	8.29