Strong 3Q21 Results. Record third quarter revenue of $71.1 million rose 15% y-o-y and exceeded our and consensus estimate of $67 million. ISG reported net income of $4.4 million, or $0.09 per share, up from $2.1 million, and $0.04, respectively, last year. Adjusted EPS was $0.12 and adjusted EBITDA totaled $10.2 million, up 24% y-o-y. We had forecast EPS of $0.06, adjusted EPS of $0.10, and adjusted EBITDA of $8.3 million. Consensus adjusted EPS was $0.09 and adjusted EBITDA was $8.4 million.Market Momentum Continuing. The quarter's results reflect ongoing momentum across ISG's markets. Enterprises continue to accelerate their technology investments coming out of the pandemic, with a strong shift to cloud-based platforms and all things digital, ISG's strengths.Record Americas. Reported revenue was a record $42.8 million in the Americas, up 22% y-o-y. Asia Pacific revenue rose 42% to a record $8.1 million. Europe was down 4% to $20.1 million. The ISG NEXT model continues to resonate with clients, driving greater account expansion opportunities and increasing profitability, margins, and cash flow.Cash Flow Generation Remains Strong. ISG generated $18.5 million of CFFO in the quarter, compared to $10.3 million last year. YTD CFFO totaled $39.5 million. ISG had $54.5 million of cash at quarter's end, up 43% from the prior year. ISG paid down $1.1 million of debt in the quarter, with a quarter end debt balance of $75.6 million.Conference Call. Management will host a conference call to discuss 3Q21 results and projections for 2021 today at 9am est. Dial-in is 877-502-9276, access code — 5609449. We will provide additional commentary and update our models following the call. Read More >>