$III
Information Services Group Inc

2023 Q3 Form 10-Q Financial Statement

#000155837023013864 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $71.77M $74.61M
YoY Change 4.27% 5.53%
Cost Of Revenue $43.03M $45.85M
YoY Change 8.16% 10.82%
Gross Profit $28.74M $28.76M
YoY Change -1.06% -1.94%
Gross Profit Margin 40.04% 38.55%
Selling, General & Admin $20.99M $22.33M
YoY Change 3.24% 6.92%
% of Gross Profit 73.04% 77.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.526M $1.569M
YoY Change 18.66% 20.88%
% of Gross Profit 5.31% 5.46%
Operating Expenses $20.99M $23.90M
YoY Change 3.24% 14.43%
Operating Profit $6.223M $4.863M
YoY Change -16.24% -31.97%
Interest Expense $1.533M -$1.154M
YoY Change 86.04% -289.18%
% of Operating Profit 24.63% -23.73%
Other Income/Expense, Net
YoY Change
Pretax Income $4.800M $3.709M
YoY Change -29.41% -44.64%
Income Tax $1.591M $1.376M
% Of Pretax Income 33.15% 37.1%
Net Earnings $3.201M $2.333M
YoY Change -42.39% -52.94%
Net Earnings / Revenue 4.46% 3.13%
Basic Earnings Per Share $0.07 $0.05
Diluted Earnings Per Share $0.06 $0.05
COMMON SHARES
Basic Shares Outstanding 48.56M 48.38M
Diluted Shares Outstanding 50.26M 50.32M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.70M $19.57M
YoY Change -5.31% -37.83%
Cash & Equivalents $18.65M $19.57M
Short-Term Investments
Other Short-Term Assets $7.300M $5.968M
YoY Change 17.72% 63.06%
Inventory
Prepaid Expenses
Receivables $92.50M $87.38M
Other Receivables $0.00 $0.00
Total Short-Term Assets $118.4M $112.9M
YoY Change 20.9% 9.08%
LONG-TERM ASSETS
Property, Plant & Equipment $10.80M $11.12M
YoY Change 88.09% 84.9%
Goodwill $94.87M $94.95M
YoY Change 4.93% 4.81%
Intangibles $12.03M $12.80M
YoY Change 11.16% 12.74%
Long-Term Investments
YoY Change
Other Assets $4.084M $6.949M
YoY Change 102.48% 187.62%
Total Long-Term Assets $125.2M $125.8M
YoY Change 7.85% 6.84%
TOTAL ASSETS
Total Short-Term Assets $118.4M $112.9M
Total Long-Term Assets $125.2M $125.8M
Total Assets $243.6M $238.7M
YoY Change 13.82% 7.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.77M $8.928M
YoY Change 21.38% -25.44%
Accrued Expenses $22.50M $23.70M
YoY Change -0.24% -5.99%
Deferred Revenue $6.688M $6.902M
YoY Change -5.22% -6.74%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $40.94M $39.53M
YoY Change -6.12% -19.13%
LONG-TERM LIABILITIES
Long-Term Debt $79.18M $79.18M
YoY Change 19.18% 17.38%
Other Long-Term Liabilities $11.60M $14.00M
YoY Change 128.03% 169.34%
Total Long-Term Liabilities $90.78M $93.18M
YoY Change 26.92% 28.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.94M $39.53M
Total Long-Term Liabilities $90.78M $93.18M
Total Liabilities $137.9M $135.3M
YoY Change 14.54% 6.44%
SHAREHOLDERS EQUITY
Retained Earnings -$99.83M -$103.0M
YoY Change -11.68% -13.12%
Common Stock $218.9M $221.1M
YoY Change -3.8% -5.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $105.7M $103.5M
YoY Change
Total Liabilities & Shareholders Equity $243.6M $238.7M
YoY Change 13.82% 7.89%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $3.201M $2.333M
YoY Change -42.39% -52.94%
Depreciation, Depletion And Amortization $1.526M $1.569M
YoY Change 18.66% 20.88%
Cash From Operating Activities $3.160M $2.821M
YoY Change -1026.69% 241.94%
INVESTING ACTIVITIES
Capital Expenditures $670.0K $468.0K
YoY Change -231.37% -144.23%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$670.0K -$468.0K
YoY Change 31.37% -55.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.040M -6.348M
YoY Change -65.15% -34.36%
NET CHANGE
Cash From Operating Activities 3.160M 2.821M
Cash From Investing Activities -670.0K -468.0K
Cash From Financing Activities -3.040M -6.348M
Net Change In Cash -550.0K -3.995M
YoY Change -94.26% -59.66%
FREE CASH FLOW
Cash From Operating Activities $3.160M $2.821M
Capital Expenditures $670.0K $468.0K
Free Cash Flow $2.490M $2.353M
YoY Change 1373.37% 24.96%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">NOTE 1—DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Information Services Group, Inc. (Nasdaq: III) (the “Company,” “ISG,” “we,” “us” or “our”) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the top 100 enterprises in our markets, 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; technology strategy and operations design; change management; market intelligence and technology research and analysis. Based in Stamford, Connecticut, ISG employs approximately 1,600 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 more information, visit www.isg-one.com. The information on or accessible through our website is not part of and is not incorporated by reference into this Quarterly Report on Form 10-Q, and the inclusion of our website address in this Quarterly Report on Form 10-Q is only for reference.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Our Company was founded in 2006 with the strategic vision to become a high-growth, leading provider of information-based advisory services. We continue to believe that our vision will be realized through the acquisition, integration and successful operation of market leading brands within the data, analytics and advisory industry.</p>
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