Earnings call transcript: ITG posts strong Q3 2026 growth, stock barely moves

ITG delivered strong third-quarter results, with revenue rising 49% year-over-year to $461.53 million and adjusted EBITDA increasing 63% to $64.5 million. The company exceeded its internal expectations, reporting 5% above plan revenue and 63% year-over-year growth in adjusted EBITDA. Full-year guidance for 2026 was reaffirmed at 37% revenue growth and 37% adjusted EBITDA growth.

The next twelve-month backlog reached $1.54 billion, a 27% increase from the prior year. Customer concentration improved, with the top two customers now comprising under 50% of revenue. Infrastructure deployment saw the biggest growth, up 63% year-over-year, while E&M services grew 39%. Large customers Charter and Comcast increased their business by more than 20% year-over-year.

Despite the solid performance, the stock barely moved in premarket trading, up only 0.19% to $5.35 from $5.34. The company's broad growth across its business segments and the positive outlook for 2027 indicate continued confidence in ITG's strategy.