ITG, Inc. Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 revenue $461.5 million, up 49% year-over-year
- ➤Q3 Adjusted EBITDA $64.5 million, up 64% year-over-year
- ➤Q3 free cash flow $62.8 million versus $26.2 million in Q3 2025
- ➤FY 2026 revenue outlook $1,578 million, up approximately 37%
- ➤NTM Backlog $1,539 million, up from $1,209 million year-over-year
Expert Statements
Andy Parrott, Chief Executive Officer of ITG
“Our third quarter results demonstrate the continued strength of the business and our ability to execute efficiently for customers even as activity increased substantially in the period”
Andy Parrott, Chief Executive Officer of ITG
“Revenue and Adjusted EBITDA reached record levels and exceeded the outlook we provided last quarter. Adjusted EBITDA margin also improved both year-over-year and sequentially, reflecting higher activity levels, improved asset utilization and solid execution by our operating teams.”
Andy Parrott, Chief Executive Officer of ITG
“Demand remains broadly healthy across our communications and digital infrastructure markets, with particular strength in broadband wireline infrastructure deployment. We continue to expand our work with both newer and long-standing customers and leverage growth opportunities created by significant customer investment in broadband, network upgrades and data center connectivity. Our broad turnkey services, national operating model and ability to support customers across both new installation and full lifecycle services position us well as a leading service provider for our customers.”
Andy Parrott, Chief Executive Officer of ITG
“We enter the fourth quarter with substantial revenue visibility and are actively exploring opportunities for partnerships with new customers, including several new wins confirmed in September. Our priorities remain focused on executing for our customers, converting awarded work into profitable revenue, improving cash conversion and focusing on disciplined capital allocation. Our updated outlook reflects our confidence in the business and our expectations for continued profitable growth”
Record third quarter revenue and Adjusted EBITDA exceed outlook; 2026 outlook(1) updated to include revenue growth of approximately 37% and Adjusted EBITDA growth of approximately 37%
THIRD QUARTER 2026 HIGHLIGHTS * Revenue increased 49% year-over-year to $461.5 million * Net loss attributable to ITG, Inc. of $6.1 million * Adjusted EBITDA(2) increased 64% year-over-year to $64.5 million * Free Cash Flow(2 )of $62.8 million versus $26.2 million in Q3 2025 * NTM Backlog(3) of $1,539 million as of September 30, 2026, compared to $1,209 million as of September 30, 2025 and $1,517 million as of June 30, 2026, supporting strong revenue visibility * Strong new order activity, including broadband fiber deployment awards with multiple new customers * Record levels in the quarter for Revenue, Adjusted EBITDA and NTM Backlog 1. Statements related to our full-year 2026 financial outlook are forward-looking, and actual results may differ materially. Refer to the “Forward Looking Statements” in the Appendix of this document for information on the factors that could cause our actual results to differ materially from these forward-looking statements. 2. Non-GAAP measure – Refer to the Appendix of this document for discussion of non-GAAP measures, reconciliations of these measures to the most directly comparable U.S. GAAP measure and a discussion of why management believes these non-GAAP measures are useful. As discussed below, ITG is not providing reconciliations of forward-looking non-GAAP measures because such reconciliations are not available without unreasonable effort. 3. Next Twelve Month (NTM) Backlog represents total committed future revenue over the next twelve months supported by executed contracts, historical activity levels, customer guidance, and / or management estimates. Timing for revenue from projects included in NTM Backlog is subject to change based on a number of factors. Actual results may differ materially. FORT LAUDERDALE, Fla., Nov. 10, 2026 (GLOBE NEWSWIRE) -- ITG, Inc. (Nasdaq: ITG) (“ITG" or "the Company”), a leading provider of end-to-end services to the digital infrastructure industry, today announced financial results for its third quarter ended September 30, 2026.
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