Business Context and Reporting Period
Company: Information Services Group, Inc. (ISG)
Filing Type: Form 8-K (Current Report)
Date of Report: November 4, 2021
Reporting Period: Third Quarter 2021 (ended September 30, 2021)
Business Overview: ISG provides financial information in accordance with U.S. GAAP and discloses non-GAAP measures to enhance the evaluation of ongoing operating results.
Key Financial Metrics
The provided filing text serves as a cover document referencing an earnings release (Exhibit 99.1) but does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The text defines the following non-GAAP measures used by the company:
- Adjusted EBITDA: Net income plus interest, taxes, depreciation, amortization, foreign currency transaction gains/losses, non-cash stock compensation, change in contingent consideration, acquisition-related costs, severance, integration, other expenses, and financing-related costs.
- Adjusted Net Income: Net income plus amortization of intangible assets, non-cash stock compensation, foreign currency transaction gains/losses, change in contingent consideration, acquisition-related costs, severance, integration, other expenses, financing-related costs, and write-off of deferred financing costs (tax-adjusted).
- Constant Currency Basis: Selected financial data excluding the financial implications of foreign currency translations.
Material Changes
The filing text does not provide specific data regarding material changes versus the prior comparable period. It states that the company released its earnings for the third quarter 2021 on November 4, 2021, and that non-GAAP measures are intended to improve comparability between periods by excluding certain expenses.
Guidance, Outlook, and Management Commentary
- Management Commentary: ISG believes non-GAAP measures provide useful information to investors by excluding non-cash and special charges that may obscure the understanding of current financial performance and future prospects.
- Outlook/Guidance: No specific forward-looking guidance or numerical outlook is provided in this text.
- Investor Event: ISG scheduled a teleconference call to discuss financial results on Friday, November 5, 2021, at 9:00 am (ET).
- Risks/Contingencies: The text notes that non-GAAP measures should not be considered in isolation or as a substitute for GAAP results.
Important Facts for Investor Verification
- Verify the specific revenue, net income, and cash flow figures in the full earnings release (Exhibit 99.1) referenced in this filing, as they are not included in the 8-K text.
- Review the reconciliation tables between GAAP and non-GAAP measures to understand the magnitude of excluded items (e.g., stock compensation, acquisition costs).
- Confirm the details of the teleconference call held on November 5, 2021, for management's qualitative commentary on the quarter.
- Check the company's website (www.isg-one.com) for the full press release and any updated financial data.