Loading…
Innodata Inc. operates as a data engineering company in the United States, the United Kingdom, the Netherlands, Canada, Germany, Belgium, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) training and post-training data, model evaluation, alignment, safety, AI model deployment and integration, and AI-enabled platforms. The Synodex segment offers an industry platform that transforms medical records into structured digital data for insurance and healthcare workflows. The company also provides Agility PR Solutions platform that provides media intelligence and public relations workflow software enhanced with AI-driven monitoring, analytics, and content capabilities. It serves banking, insurance, financial services, technology, digital retailing, and information media sectors through its professional staff, senior management, and direct sales personnel. The company was formerly known as Innodata Isogen Inc. and changed its name to Innodata Inc. in November 2003. Innodata Inc. was incorporated in 1988 and is headquartered in Ridgefield Park, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $252M | $47M | $32M | $36M | 30.0% | 47.6% | 12.3% |
| 2024 | $170M | $30M | $29M | $27M | 45.2% | 96.4% | -3256.4% |
| 2023 | $87M | $5M | $-1M | $0M | -3.5% | 9.8% | -92.4% |
| 2022 | $79M | $-7M | $-12M | $-8M | -63.6% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 79 | 86.78 | 170.46 | 251.66 |
| Operating Revenue | - | 79 | 86.78 | 170.46 | 251.66 |
| Cost Of Revenue | - | 51.53 | 55.48 | 103.39 | 152.18 |
| Gross Profit | - | 27.47 | 31.29 | 67.07 | 99.48 |
| Operating Expense | - | 37.94 | 30.98 | 42.74 | 59.61 |
| Selling General And Administration | - | 37.94 | 30.98 | 42.74 | 59.61 |
| Total Expenses | - | 89.47 | 86.46 | 146.12 | 211.79 |
| Operating Income | - | -10.47 | 0.32 | 24.34 | 39.87 |
| Total Operating Income As Reported | -1.54 | -10.48 | - | - | - |
| EBITDA | - | -6.58 | 5.03 | 30.13 | 46.76 |
| Normalized EBITDA | - | -6.58 | 5.03 | 30.13 | 46.76 |
| EBIT | - | -10.47 | 0.32 | 24.34 | 39.87 |
| Interest Income | 0.11 | - | - | 0.15 | 1.55 |
| Interest Expense | - | 0.01 | 0.18 | - | - |
| Net Interest Income | - | -0.01 | -0.18 | 0.15 | 1.55 |
| Other Income Expense | 0.58 | - | - | - | - |
| Interest Income Non Operating | 0.11 | - | - | 0.15 | 1.55 |
| Interest Expense Non Operating | - | 0.01 | 0.18 | - | - |
| Net Non Operating Interest Income Expense | - | -0.01 | -0.18 | 0.15 | 1.55 |
| Pretax Income | - | -10.48 | 0.14 | 24.48 | 41.42 |
| Tax Provision | - | 1.52 | 1.03 | -4.19 | 9.24 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -12 | -0.89 | 28.68 | 32.18 |
| Net Income From Continuing And Discontinued Operation | - | -11.94 | -0.91 | 28.66 | 32.18 |
| Net Income From Continuing Operation Net Minority Interest | - | -11.94 | -0.91 | 28.66 | 32.18 |
| Net Income | - | -11.94 | -0.91 | 28.66 | 32.18 |
| Net Income Common Stockholders | - | -11.94 | -0.91 | 28.66 | 32.18 |
| Net Income Including Noncontrolling Interests | - | -12 | -0.89 | 28.68 | 32.18 |
| Normalized Income | - | -11.94 | -0.91 | 28.66 | 32.18 |
| Diluted NI Availto Com Stockholders | - | -11.94 | -0.91 | 28.66 | 32.18 |
| Basic Average Shares | - | 27.28 | 28.13 | 29.16 | 31.81 |
| Diluted Average Shares | - | 27.28 | 28.13 | 32.18 | 35.02 |
| Reconciled Depreciation | - | 3.89 | 4.72 | 5.80 | 6.89 |
| Reconciled Cost Of Revenue | - | 51.53 | 55.48 | 103.39 | 152.18 |
| Total Unusual Items | 0.58 | 0 | - | - | - |
| Total Unusual Items Excluding Goodwill | 0.58 | 0 | - | - | - |
| Minority Interests | - | 0.07 | -0.02 | -0.02 | 0 |
| Special Income Charges | 0.58 | 0 | - | - | - |
| Other Special Charges | -0.58 | - | - | - | - |
| Gain On Sale Of Security | 0.58 | - | - | - | - |
| Total Other Finance Cost | -0.11 | 0.01 | 0.18 | -0.15 | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Innodata Inc.this co. | INOD | $4.0B | 123.29↑ premium | 37.03 | 30.0% | 83.18 |
| Belden Inc. | BDC | $4.3B | 18.15 | 3.41 | 18.8% | 12.03 |
| nLIGHT, Inc. | LASR | $4.2B | -180.02 | 18.63 | -10.3% | -560.38 |
| Remitly Global, Inc. | RELY | $4.2B | 61.40 | 4.80 | 7.8% | 30.32 |
| Bel Fuse Inc. | BELFB | $3.9B | 63.91 | 9.24 |
| - |
| - |
| - |
| - |
| 14.5% |
| 30.04 |
| Qualys, Inc. | QLYS | $3.9B | 19.80 | 7.00 | 35.3% | 15.77 |
| Varonis Systems, Inc. | VRNS | $3.9B | - | 6.52 | -21.6% | - |
| Penguin Solutions, Inc. | PENG | $3.7B | 147.30 | 9.49 | 6.4% | 33.90 |
| Aehr Test Systems, Inc. | AEHR | $3.7B | -937.81 | 29.84 | -3.2% | -2563.73 |
| Peer Median | - | 19.80 | 8.12 | 7.1% | 15.77 | |