- Launched goal to double the size of ISC on a revenue and adjusted EBITDA bases by 2028
- Contract wins and renewals across all three business segments
- Expect to deliver another year of record revenue and adjusted EBITDA for 2024, consistent with annual guidance
All amounts in Canadian dollars unless otherwise specified.
REGINA, Saskatchewan, Jan. 13, 2025 (GLOBE NEWSWIRE) — Information Services Corporation (TSX:ISC) (“ISC” or the “Company”) today shared its 2024 highlights, reflecting a strong start towards achieving the Company’s strategic growth objectives for 2028. These accomplishments reflect the Company’s commitment to expanding its service offerings both federally and internationally, enhancing technological innovation and strengthening its leadership position in the registry and information services markets.
“2024 is expected to be another record-breaking year for ISC as we commenced our mission to double the size of our business by 2028,” said Shawn Peters, President and CEO. “From launching transformative solutions to strengthening our global footprint, ISC has demonstrated resilience and ambition in delivering value to stakeholders.”
During the course of 2024, ISC expanded its portfolio of registries by assuming operational responsibility for the Bank Act Security Registry (“BASR”) on behalf of the Bank of Canada and secured a $10 million contract to deliver a digital commercial registry system for Liechtenstein. These achievements, combined with the renewal of the Ontario Property Tax Assessment agreement with the Province of Ontario until 2028, showcase ISC’s growing presence in both established and new markets, solidifying its reputation as a leader in registry solutions.
Furthermore, ISC’s Services segment experienced robust organic growth driven by increased customer transactions and expanded regulatory solutions. The segment’s success was bolstered by its ability to meet rising demand for compliance and recovery solutions, reflecting its value to both new and long-standing clients.
The strength of our two core segments, Registry Operations and Services, re-enforced by a strong Saskatchewan economy and best in class customer service leading to new contract wins, provided predictable cash flows throughout the year, supporting the deleveraging of the Company’s balance sheet and achieving sustainable growth.
Overall, ISC is well positioned to build on the momentum achieved in 2024. By expanding its service offerings, launching innovative registries, and securing key contracts in both new and established markets, the Company has demonstrated its commitment to sustainable growth and value creation. ISC is poised to continue driving success across all segments, reinforcing its role as a leader in registry and information management solutions globally.
Management Update
ISC also announces the following changes in support of the Company’s objective to double the size of the Company on a revenue and adjusted EBITDA basis by 2028:
- Kathy Hillman-Weir has assumed additional responsibility for the newly created function of Registry Excellence. As the EVP, Corporate Governance and Registry Excellence, Kathy brings a wealth of registry and policy expertise to help elevate ISC’s position and competency as a leader in the registry space, nationally and internationally.
- Ryan Graham joins ISC today as Vice-President, Corporate Services. As the leader of various corporate services, Ryan will oversee:
- The Company’s technology solutions function, including the architecture, infrastructure, and cybersecurity functions as well as the Enterprise Project Management office;
- The Company’s corporate internal legal services functions and our enterprise risk & compliance and information and records management functions; and
- The Company’s technology delivery subsidiary, Enterprise Registry Solutions Limited.
A Chartered Professional Accountant by profession, Ryan brings over 20 years of experience in leading multi-disciplinary teams, fostering technology partnerships and managing complex financial and treasury strategies having previously been with Concentra Bank as Chief Banking Officer and Avana (a real estate developer) as Chief Financial Officer.
- Loren Cisyk, EVP, Technology Solutions, will be leaving ISC, effective April 30, 2025. Loren joined ISC in September 2017 and most recently led the Company’s internal infrastructure, deskside and security teams as part of our Technology Solutions segment. We wish Loren the very best in his future endeavours.
“I’m excited that we are continuing to move the organization forward in support of our goals,” commented Shawn Peters, President and CEO. “We’d like to thank Loren for his service since 2017 and wish him every success in the future. I am also very pleased to welcome Ryan Graham to ISC. A consummate professional, he brings decades of C-suite experience in a number of critical, strategic areas and I look forward to his contributions to our team.” Peters further commented, “I’m also really pleased to reinforce our commitment to Registry Excellence with today’s announcement. Kathy is a long-standing and valued member of the ISC team, having been with ISC since its inception in 2000. Her expertise across all the practice areas of registries makes her ideally suited to ensure that ISC remains at the forefront of registry innovation and top of mind with all our stakeholders.”
See how ISC’s three lines of business are growing the registry operations, technology solutions and information services landscape: https://company.isc.ca/what-we-do.
About ISC
Headquartered in Canada, ISC is a leading provider of registry and information management services for public data and records. Throughout our history, we have delivered value to our clients by providing solutions to manage, secure and administer information through our Registry Operations, Services and Technology Solutions segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISC.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws including, without limitation, statements related to the industries in which we operate, growth opportunities and our future financial position and results of operations, including future cash flow estimations. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to changes in economic, market and business conditions, changes in technology and customers’ demands and expectations, identification of viable growth opportunities, implementation of our growth strategy, competition, termination risks and other risks detailed from time to time in the filings made by the Company including those detailed in ISC’s Annual Information Form for the year ended December 31, 2023 and ISC’s unaudited Condensed Consolidated Interim Financial Statements and Notes and Management’s Discussion and Analysis for the third quarter ended September 30, 2024, copies of which are filed on SEDAR+ at www.sedarplus.ca.
The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities laws, ISC assumes no obligation to update or revise such information to reflect new events or circumstances.
Investor Contact
Jonathan Hackshaw
Senior Director, Investor Relations & Capital Markets
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
investor.relations@isc.ca
Media Contact
Jodi Bosnjak
External Communications Specialist
corp.communications@isc.ca
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