ISC Announces Annual Guidance and Management Update for 2024

• Meaningful organic growth forecasted in 2024, with the top-end guidance range for revenue and adjusted EBITDA estimated to grow by 18 and 20 per cent, respectively, year over year.
  
• Robust free cash flow will support growth and execution of our plan to de-lever the balance sheet.  

REGINA, Saskatchewan, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Information Services Corporation (TSX:ISV) (“ISC”, “we” or the “Company”) today announced its annual guidance and outlook for 2024.

Consolidated Annual Guidance 2024 (in millions of Canadian dollars except percentages)

	Guidance Ranges 2023	Guidance Ranges 2024	Estimated Year over Year Increase
Revenue	$207.0 to $212.0	$240.0 to $250.0	16% - 18%
Adjusted EBITDA1	$71.0 to $76.0	$83.0 to $91.0	17% - 20%

Outlook
In 2024, we expect revenue to grow within a range of $240.0 million and $250.0 million and adjusted EBITDA¹ to grow within a range of $83.0 million and $91.0 million. The expectations for these metrics in 2024 represent year-over-year increases of up to 18 per cent for revenue and up to 20 per cent for adjusted EBITDA when compared to the same guidance ranges for 2023. Our expected performance year-over-year marks the beginning of the next phase of ISC’s growth plan. We intend to leverage the investments and achievements of 2023 while intensifying our focus on organic growth and continuing to execute on accretive M&A opportunities.

Services will continue to be a significant part of our organic growth, with a forecasted increase in transactions and the number of customers. In Registry Operations, we expect transactions in 2024 to be largely flat with revenue growth through a realization of a full year of fee adjustments, including those amended in July 2023 because of the extension of the Master Services Agreement in Saskatchewan (the “Extension”) and regular annual CPI fee adjustments. Our Technology Solutions segment is also forecasted to see double-digit growth as we deliver on existing and new solutions delivery contracts in 2024.