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ISC Reports 2021 First Quarter Financial Results REGINA , Saskatchewan , May 05 , 2021 ( GLOBE NEWSWIRE ) Information Services Corporation ( TSX : ISV ) ( “ ISC " or the " Company " ) today reported on the Company's financial results for the first quarter ended March 31 , 2021 . 2021 First Quarter Highlights • Revenue was $ 39.1 million , an increase of $ 9.6 million or 32.3 per cent compared to the first quarter of 2020 . • Net income was $ 5.5 million or $ 0.31 per basic and diluted share , an increase of $ 2.0 million compared to the first quarter of 2020 when net income was $ 3.5 million or $ 0.20 per basic and diluted share . • EBITDA ( earnings before interest , taxes , depreciation and amortization expense ) was $ 11.9 million compared to $ 7.8 million in the same quarter last year , an increase of $ 4.1 million or 52.0 per cent . • The EBITDA margin for the first quarter of 2021 was 30.3 per cent compared to 26.5 per cent in the same quarter in 2020. Adjusted EBITDA was $ 14.8 million for the quarter compared to $ 7.9 million in the same quarter last year , with an adjusted EBITDA margin of 37.7 per cent for the quarter compared to 26.8 per cent in the first quarter of 2020 . • Free cash flow of $ 8.9 million compared to $ 6.4 million in Q1 2020 . Financial Position as at March 31 , 2020 • Cash of $ 30.4 million compared to $ 33.9 million as at December 31 , 2020 . • Total debt of $ 71.3 million compared to $ 76.3 million as at December 31 , 2020 . 1 Commenting on ISC's results , Jeff Stusek , President and CEO stated , “ Our financial performance for the first quarter of 2021 was very strong , building on the strength we experienced in the third and fourth quarters of 2020. While the impact of the COVID - 19 pandemic was evident in our second quarter last year , our business has performed remarkably well since that time . The robust year - over - year performance of our three segments is due to a combination of strength in specific economic drivers in Registry Operations , focus on new customer acquisition and growth in Services , and successful delivery and implementation of technology in Technology Solutions . This has been paired with continued cost management across all areas of our business . We remain confident in the strength and long - term potential of the business , but at this point , given the continued uncertainty surrounding the duration and potential outcomes of the COVID - 19 pandemic , we will not be providing formal financial guidance for the year . " Management's Discussion of ISC's Summary of 2021 First Quarter Financial Results ( thousands of CAD dollars ; except earnings per share and where noted ) Revenue Registry Operations Services Technology Solutions Corporate and other Consolidated revenue Consolidated expenses Consolidated EBITDA¹ -- Consolidated EBITDA margin¹ ( % of revenue ) Consolidated adjusted EBITDA¹ Consolidated adjusted EBITDA margin¹ Consolidated net income Earnings per share ( basic ) ¹ Earnings per share ( diluted ) ¹ Free cash flow¹ Three Months Ended March 31 , 2021 $ $ $ $ $ ISC $ $ $ $ 19,200 16,237 3,711 39,148 31,024 11,869 30.3 % 14,752 37.7 % 5,497 0.31 0.31 8,878 Three Months Ended March 31 , 2020 $ $ $ $ $ $ $ 15,531 11,844 2,220 1 29,596 24,521 7,834 26.5 % 7,945 26.8 % 3,470 0.20 0.20 6,370 EBITDA , EBITDA margin , adjusted EBITDA and adjusted EBITDA margin and free cash flow are not recognized as measures under IFRS and do not have a standardized meaning prescribed by IFRS and , therefore , they may not be comparable to similar measures reported by other corporations . For more information , please refer to section 8.8 " Non - IFRS Financial Measures " and section 2 " Consolidated Financial Analysis " for a reconciliation of EBITDA and adjusted EBITDA to net income in Management's Discussion and Analysis for the three months ended March 31 , 2021 .