INNODATA INC INOD
Innodata Inc. (Nasdaq: INOD) (together with its subsidiaries, the "Company", "Innodata", "we", "us" or "our") is a global data engineering and AI systems services company that supports the development, training, post-training, evaluation, and deployment of advanced artificial intelligence systems. We partner with leading technology companies, frontier AI laboratories, and enterprises to help enable AI systems that perform reliably, align with intended objectives, and operate safely in real-world environments.
Our mission is to enable the responsible advancement of artificial intelligence by providing the data, evaluation frameworks, and human expertise required to build AI systems that can be trusted at scale. We believe that AI will increasingly function as a foundational layer of the digital economy - embedded across consumer products, enterprise workflows, and mission-critical systems. As AI systems grow more capable and autonomous, we believe the quality of training data, the effectiveness of post-training alignment, and the rigor of ongoing evaluation will be decisive factors in determining whether AI systems are adopted, regulated, and scaled responsibly.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Canada
- United Kingdom
- Others - European countries principally, Germany and Belgium
- The Netherlands
| Region | FY2025 | FY2024 |
|---|---|---|
| United States | $212.1M | $133.9M |
| Canada | $11.7M | $8.7M |
| United Kingdom | $10.5M | $10.0M |
| Others - European countries principally, Germany and Belgium | $8.9M | $9.8M |
| The Netherlands | $8.5M | $8.1M |
As the company reported it, from the “Segment reporting and concentrations - Revenues by geographic region (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Revenue by segment
- DDS
- Agility
- Synodex
| Segment | FY2025 | FY2024 |
|---|---|---|
| DDS | $220.8M | $141.1M |
| Agility | $23.5M | $21.5M |
| Synodex | $7.3M | $7.9M |
As the company reported it, from the “Segment reporting and concentrations - Significant income statement (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $251.7M | $170.5M | $86.8M | $79.0M | $69.8M | $58.2M | $55.9M | $57.4M | $60.9M | $63.1M |
| Gross profit | $99.5M | $67.1M | $31.3M | — | — | — | — | — | — | — |
| SG&A | $59.6M | $42.7M | $31.0M | $37.9M | $27.9M | $18.7M | $19.5M | $15.8M | $20.2M | $19.5M |
| Total operating expenses | $210.2M | $146.0M | $86.6M | $89.5M | $71.3M | $57.1M | $56.9M | $55.9M | $66.0M | $67.8M |
| Operating income | $39.9M | $24.3M | $318.0K | — | — | — | — | — | -$5.1M | -$4.7M |
| Pre-tax income | $41.4M | $24.5M | $139.0K | -$10.5M | -$963.0K | $1.0M | -$1.1M | $1.6M | -$5.1M | -$4.8M |
| Income tax | $9.2M | $4.2M | $1.0M | $1.5M | $842.0K | $401.0K | $1.1M | $1.8M | $285.0K | $1.1M |
| Net income | $32.2M | $28.7M | -$908.5K | -$11.9M | -$1.7M | $617.0K | $617.0K | -$253.0K | -$5.1M | -$5.5M |
| EPS, basic | 1.01 | 0.98 | -0.03 | -0.44 | -0.06 | 0.03 | -0.08 | — | — | — |
| EPS, diluted | 0.92 | 0.89 | -0.03 | -0.44 | -0.06 | 0.02 | -0.08 | 0.01 | 0.20 | -0.22 |
| Shares, diluted (wtd. avg.) | 35.0M | 32.2M | 28.1M | 27,278 | 26.6M | 25.6M | 25.8M | 25.9M | 25.8M | 25.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $82.2M | $46.9M | $13.8M | $9.8M | $18.9M | $17.6M | $10.9M | $10.9M | $11.4M | $14.2M |
| Receivables | $46.5M | $28.0M | $14.3M | $9.5M | $11.4M | $10.0M | $9.7M | $10.6M | $10.3M | $10.0M |
| Total current assets | $135.4M | $81.0M | $32.1M | $23.7M | $34.0M | $31.9M | $24.0M | $26.2M | $25.3M | $27.2M |
| Property, plant and equipment | $8.0M | $4.1M | $2.3M | $2.5M | $2.9M | $1.9M | $6.9M | $6.8M | $7.2M | $5.4M |
| Goodwill | $2.1M | $2.0M | $2.1M | $2.0M | $2.1M | $2.1M | $2.1M | $2.0M | $2.8M | $2.7M |
| Other intangibles | $14.0M | $13.4M | $13.8M | $12.5M | $10.3M | $10.0M | $5.5M | $6.3M | $7.6M | $8.2M |
| Total assets | $168.6M | $113.4M | $59.4M | $48.0M | $59.2M | $57.3M | $49.5M | $44.9M | $47.9M | $47.6M |
| Accounts payable | $9.6M | $4.6M | $2.7M | $2.6M | $1.8M | $1.4M | $1.4M | $1.8M | $1.9M | $1.0M |
| Short-term debt | — | — | — | $877.0K | $1.3M | $1.7M | $1.4M | $1.5M | $3.3M | $1.1M |
| Total current liabilities | $50.5M | $39.5M | $22.9M | $20.8M | $21.3M | $18.3M | $15.8M | $13.9M | $15.6M | $12.8M |
| Long-term debt | — | — | — | $5.1M | $6.2M | $6.3M | $4.5M | $4.1M | $4.5M | $3.9M |
| Total liabilities | $61.5M | $50.1M | $34.4M | $30.0M | $32.8M | $31.0M | $27.4M | — | — | — |
| Retained earnings | $51.2M | $19.0M | -$9.7M | -$8.8M | $3.2M | $4.8M | $4.2M | $6.6M | $7.3M | $12.4M |
| Total equity | $107.1M | $63.5M | $25.0M | $18.8M | $29.9M | $29.6M | $25.5M | $29.6M | $30.6M | $33.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $46.8M | $34.9M | $5.9M | -$1.2M | $5.2M | $5.7M | $4.3M | $3.6M | $639.0K | -$2.7M |
| Depreciation and amortisation | $6.9M | $5.8M | $4.7M | $3.9M | $2.9M | $2.3M | $2.7M | $3.4M | $3.7M | $3.2M |
| Stock-based compensation | $11.1M | $4.0M | $4.0M | $3.3M | $1.8M | $913.0K | $836.0K | $796.0K | $695.0K | $1.2M |
| Capital expenditure | $11.1M | $7.7M | $5.6M | $6.5M | $4.4M | $1.4M | $1.7M | $2.0M | $3.4M | $2.7M |
| Investing cash flow | -$11.1M | -$7.7M | -$5.1M | -$7.0M | -$4.4M | -$1.4M | -$1.7M | -$2.0M | -$3.4M | -$7.0M |
| Financing cash flow | -$426.0K | $6.2M | $2.9M | -$307.0K | $773.0K | $2.3M | -$2.4M | -$2.0M | -$284.0K | -$837.0K |
| Buybacks | — | — | — | — | — | — | — | — | $0 | $134.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-048201.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $63.1M | $60.9M | $57.4M | $55.9M | $58.2M | $69.8M | $79.0M | $86.8M | $170.5M | $251.7M |
| Gross profit | — | — | — | — | — | — | — | $31.3M | $67.1M | $99.5M |
| Net income | -$5.5M | -$5.1M | -$253.0K | $617.0K | $617.0K | -$1.7M | -$11.9M | -$908.5K | $28.7M | $32.2M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Material agreement signed Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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