Information Services Group Inc. Files Q2 2024 10-Q

TL;DR

ISG filed its Q2 10-Q. Financials and operations detailed.

AI Summary

Information Services Group Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial figures and strategic information are presented within this report.

Why It Matters

This 10-Q filing provides investors and analysts with the latest financial health and operational performance of Information Services Group Inc. for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• Information Services Group Inc. (company) — Filer of the 10-Q
• 20240630 (date) — Period of report for the 10-Q
• 20240806 (date) — Filing date of the 10-Q
• 203-517-3100 (phone_number) — Business phone number for Information Services Group Inc.

FAQ

Key Financial Figures

• $0.001 — ch registered Shares of Common Stock, $0.001 par value III The Nasdaq Stock Mark

Filing Documents

• iii-20240630x10q.htm (10-Q) — 1583KB
• iii-20240630xex10d1.htm (EX-10.1) — 67KB
• iii-20240630xex31d1.htm (EX-31.1) — 17KB
• iii-20240630xex31d2.htm (EX-31.2) — 16KB
• iii-20240630xex32d1.htm (EX-32.1) — 7KB
• iii-20240630xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-011129.txt ( ) — 5703KB
• iii-20240630.xsd (EX-101.SCH) — 33KB
• iii-20240630_cal.xml (EX-101.CAL) — 48KB
• iii-20240630_def.xml (EX-101.DEF) — 123KB
• iii-20240630_lab.xml (EX-101.LAB) — 299KB
• iii-20240630_pre.xml (EX-101.PRE) — 219KB
• iii-20240630x10q_htm.xml (XML) — 881KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10–Q includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "continue," or the negative of such terms or other similar expressions. Our actual results may vary materially from those expected or anticipated in these forward-looking statements. The realization of such forward-looking statements may be impacted by certain important unanticipated factors. Because of these and other factors that may affect our operating results, past performance should not be considered as an indicator of future performance, and investors should not use historical results to anticipate results or trends in future periods. These forward-looking statements speak only as of the date of this Quarterly Report on Form 10-Q. Except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements contained in this Quarterly Report on Form 10-Q, whether as a result of any new information, future events or otherwise. Readers should carefully review the risk factors described in this and other documents that we file from time to time with the Securities and Exchange Commission, including the risks set forth in Part I, Item 1A "Risk Factors"

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) INFORMATION SERVICES GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except par value) June 30, December 31, 2024 2023 ASSETS Current assets Cash and cash equivalents $ 11,801 $ 22,636 Accounts receivable and contract assets, net of allowance of $ 5,558 and $ 5,288 , respectively 80,909 82,117 Prepaid expenses and other current assets 9,606 8,091 Total current assets 102,316 112,844 Restricted cash 85 173 Furniture, fixtures and equipment, net 6,555 6,446 Right-of-use lease assets 6,388 7,473 Goodwill 97,158 97,232 Intangible assets, net 11,122 12,615 Deferred tax assets 6,772 4,775 Other assets 4,930 5,787 Total assets $ 235,326 $ 247,345 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 8,622 $ 11,302 Contract liabilities 8,892 9,521 Accrued expenses and other current liabilities 30,401 25,451 Total current liabilities 47,915 46,274 Long-term debt, net of current maturities 74,175 79,175 Deferred tax liabilities 2,540 2,384 Operating lease liabilities 4,283 5,287 Other liabilities 10,886 12,143 Total liabilities 139,799 145,263 Commitments and contingencies (Note 8) Stockholders' equity Preferred stock, $ 0.001 par value; 10,000 shares authorized; none issued — — Common stock, $ 0.001 par value; 100,000 shares authorized; 49,658 shares issued and 48,903 outstanding at June 30, 2024 and 49,472 shares issued and 48,653 outstanding at December 31, 2023 50 49 Additional paid-in capital 211,854 217,684 Treasury stock ( 755 and 819 common shares, respectively, at cost) ( 2,753 ) ( 3,959 ) Accumulated other comprehensive loss ( 9,570 ) ( 8,989 ) Accumulated deficit ( 104,054 ) ( 102,703 ) Total stockholders' equity 95,527 102,082 Total liabilities and stockholders' equity $ 235,326 $ 247,345 The accompan

View Full Filing

View this 10-Q filing on SEC EDGAR