ISG Reports Q1 Revenue of $61.2M
Reports Q1 revenue $61.2M, consensus $60.8M. The company said, "ISG delivered a strong first quarter, with revenue of $61.2 million, up 3 percent, and adjusted EBITDA of $8.3 million, up 12 percent-both at the top end of guidance-with adjusted EBITDA margins expanding more than 100 basis points from the prior year, to 13.5 percent. Revenue growth was driven primarily by Europe, up 25 percent, and recurring revenues, up 9 percent, as AI continues to be a tailwind for our firm. Adding to our recurring revenue acceleration, we signed the largest single client contract in our history - a multiyear agreement valued at up to $17 million to provide governance services for a top global manufacturer. Under this landmark contract, ISG will manage $300 million in global technology spend with 200 technology vendors to support a large-scale, multiyear AI-powered transformation. This contract and our growing profitability reflect our unique strengths as an AI-centered research and advisory powerhouse that engages strategically with clients, provides deeper insights to shape client solutions and decisions, and, importantly, delivers unmatched execution and AI governance at scale."
