Q2 Revenue Fall Continues Difficult Year for ISG

Technology research and advisory firm Information Services Group has reported revenue of $64.3m for the second quarter of the year, down 14% year-on-year, and adjusted EBITDA down 30% to $7.1m.

ISG was founded in 2006-7 and is headquartered in Stamford, CT, with around 1,600 employees working in more than twenty countries. Its services now include digital transformation and other change management, sourcing advisory, strategy and operations design, market intelligence, technology research and analysis.

The decline in reported revenues was greatest in Asia Pacific (down 31% to $5.5m), and Europe (down 23% to $18.8m), but much more limited in the Americas (down 5% to $40.0m).

Chairman and CEO Michael P. Connors (pictured) described the results as 'sequentially stronger' after a difficult first quarter in which he had blamed the impact of 'market uncertainty' on 'the broader global technology industry'. Following the Q2 results he noted: 'Though clients continue to delay the start of new initiatives and extend their spending over longer periods, our pipeline is strong, and with inflation easing and the prospect of interest rate cuts on the horizon, we anticipate demand picking up again late this year'. He also pointed to an increase in contract value flowing through the firm's Tango sourcing platform - currently exceeding $4bn, adding: 'This innovative platform solution accelerates speed to value for our clients and generates expanded margins for ISG'.

Web site: www.isg-one.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.