Revenue during the quarter surged 33.30 percent to $66.56 million from $49.93 million in the previous year period. Gross margin for the quarter expanded 169 basis points over the previous year period to 38.87 percent. Total expenses were 98.23 percent of quarterly revenues, down from 99.74 percent for the same period last year. This has led to an improvement of 151 basis points in operating margin to 1.77 percent.

Operating income for the quarter was $1.18 million, compared with $0.13 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $6.99 million compared with $3.34 million in the prior year period. At the same time, adjusted EBITDA margin improved 380 basis points in the quarter to 10.50 percent from 6.70 percent in the last year period.

"ISG had an excellent first quarter, marked by record-setting revenues. Our growth was driven by increasing client demand for ISG Digital Advisory Services, including Robotic Process Automation (RPA), which generated more than 30 percent of firm revenue in the quarter," said Michael P. Connors, chairman and chief executive officer. "Our strategy is working, as we continue to capitalize on the power of our expanded portfolio of products and services on a global basis. Our performance during the quarter reflects this execution, with the Americas up a strong 58 percent and EMEA up 11 percent, despite the macro environment in Europe. Increasingly, we are top of mind for clients as they seek our research, advice and support to leverage digital technology for greater efficiency and faster growth."