Friday, August 04, 2023
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For additional information, visit www.ISG-One.com
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Record 2Q23 Top Line. Record 2Q revenue of $74.6 million, up 5.5% y-o-y. Currency translation negatively impacted reported revenue by $0.1 million. By geography, Americas revenue rose 7% to $42.3 million, Europe was up 5% on a reported basis to $24.4 million, and Asia-Pacific revenue of $8 million was flat to the prior year. We were at $75 million.
Increasing Recurring Revenues. Strong demand for research and platform services in the second quarter led to 21% growth in recurring revenues, which now represent more than 40% of Company revenue. ISG’s mix of portfolio solutions and services around cost optimization and digital transformation continues to resonate with clients.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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