Information Services Corporation unveils record revenue
Published: 22:27 08 Aug 2024 AEST
Information Services Corporation (TSX:ISV) (ISC) has reported record quarterly revenue and adjusted earnings, driven by a strong performance in its Saskatchewan registries division.
Revenue climbed 27% to a record $67.8 million over the second quarter, the information management services company reported on Thursday.
This aided a 52% increase in adjusted pre-tax earnings over the period to $27.2 million, which ISC said reflected growth in all operating segments.
ISC highlighted a strong performance within its registry service in Canada’s Saskatchewan province, alongside growth in regulatory and recovery solutions.
“Record performances in the second quarter and first half of 2024 are in line with our expectations and support the execution of our five-year goal to double revenue and adjusted EBITDA by 2028,” chief executive Shawn Peters commented.
“The year-over-year growth in our operating results reflects the resilience of the Saskatchewan economy and the strength of the registries.”
Adjusted free cash flow grew 26% to $15.7 million over the quarter, the company added, with cash on hand sitting at $22.1 million as of June.
