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Information Services Group Inc. (III+1.27%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $247,585,000, a decrease from $291,054,000 in the previous year. The decline in revenue was attributed to decreases in the Advisory, Network & Software Advisory Services, and Automation service lines, partially offset by an increase in the Research service line.
Operating expenses for the year were $241,828,000, down from $276,442,000 in the previous year. This decrease was primarily due to lower contract labor, compensation expenses, and license fees.
The company reported a net income of $2,839,000, compared to $6,154,000 in the prior year. The effective tax rate was 45.7%, higher than the previous year's rate of 29.8%, influenced by state taxes and higher tax rates in foreign jurisdictions.
Cash provided by operating activities was $19,865,000, while cash used in investing and financing activities was $18,992,000 and $37,906,000, respectively.
As of December 31, 2024, Information Services Group Inc. had total assets of $204,515,000 and liabilities of $108,229,000.
The company completed the sale of its Automation business line to UST Global Inc. for $27 million, resulting in a gain on the sale of $4,532,000.
Information Services Group Inc. continues to focus on expanding its AI-centered technology research and advisory services, with a strategic repositioning announced in February 2025.
The company anticipates continued payment of regular quarterly dividends, with a fourth-quarter dividend of $0.045 per share declared in March 2025.
Information Services Group Inc. is committed to maintaining a strong financial position, with priorities including funding growth, dividend payments, share repurchases, and debt reduction.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Information Services Group Inc. annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.