III · CIK 0001371489
What Information Services Group, Inc. told the SEC could break it.
ISG's disclosures reflect a global advisory and research firm whose risks center on client and geographic concentration. Its 25 largest clients made up about 30% of revenue in both 2025 and 2024, so losing or a major pullback by a few would weigh on results. Roughly 34% of 2025 revenue came from outside the Americas — Germany, the UK and Australia among them — exposing it to currency swings and to trade-policy shifts, with new tariffs, trade-agreement changes and retaliatory measures a flagged risk to its cross-border business. It also notes that its growing AI capabilities depend on third-party infrastructure, data sets, cloud environments, models and specialized hardware, where supply, pricing or licensing changes could impair its services.
4 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- largest clients concentration (top 25 = ~30% of revenue)medium
ISG derives a significant portion of revenue from its largest clients — its 25 largest clients were ~30% of revenue in both 2025 and 2024 — so losing or a major reduction by large clients would materially affect revenue.
“We derive a significant portion of our revenues from our largest clients and could be materially and adversely affected if we lose one or more of our large clients. Our 25 largest clients accounted for approximately 30% of revenue in both 2025 and 2024.”
SEC filing →As of 2026
Geographic concentration
- international revenue exposure (~34% outside the Americas)medium
About 34% of ISG's 2025 revenue came from outside the Americas (Germany, UK, Australia among others), exposing it to international business risks including tariffs, customs, visa/travel restrictions and FX (foreign revenue invoiced in local currency).
“Approximately 34% of our revenues for 2025 and 36% of our revenues for 2024 were derived from sales outside of the Americas.”
SEC filing →As of 2026
Regulatory & policy
- changes in U.S./international trade policy and tariffsmedium
Changes in U.S. and international trade policy — new/higher tariffs, trade-agreement changes and retaliatory measures — could adversely affect ISG's cross-border advisory business and its clients.
“Changes in U.S. or international laws and policies governing foreign trade could materially and adversely affect our business.”
Supplier concentration
- AI capabilities dependent on third-party infrastructure, data, cloud, models and hardwaremedium
ISG's growing AI capabilities depend on access to third-party infrastructure, data sets, cloud environments, software, models and specialized hardware; supply constraints, price/licensing changes or outages at those providers could materially impair its services.
“our AI capabilities depend on access to third-party infrastructure, data sets, cloud environments, software, models and specialized hardware.”
SEC filing →As of 2026
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