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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 | 30.1% | 47.6% | 12.3% |
| 2024 | $170M | $30M | $29M | $27M | 45.2% | 96.4% | - |
| 2023 | $87M | $5M | $-1M | $0M | -3.6% | 9.8% | - |
| 2022 | $79M | $-7M | $-12M | $-8M | -66.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total 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 |
| Operating Income | -10.47 | 0.32 | 24.34 | 39.87 |
| EBITDA | -6.58 | 5.03 | 30.13 | 46.76 |
| EBIT | -10.47 | 0.32 | 24.34 | 39.87 |
| Pretax Income | -10.48 | 0.14 | 24.48 | 41.42 |
| Tax Provision | 1.52 | 1.03 | -4.19 | 9.24 |
| Net Income | -11.94 | -0.91 | 28.66 | 32.18 |
| Net Income Common Stockholders | -11.94 | -0.91 | 28.66 | 32.18 |
| Total Expenses | 89.47 | 86.46 | 146.12 | 211.79 |
| Interest Expense | 0.01 | 0.18 | 0 | 0 |
| Interest Income | 0 | 0 | 0.15 | 1.55 |
| Selling General And Administration | 37.94 | 30.98 | 42.74 | 59.61 |
| Normalized EBITDA | -6.58 | 5.03 | 30.13 | 46.76 |
| Normalized Income | -11.94 | -0.91 | 28.66 | 32.18 |
| Basic EPS | -0.44 | -0.03 | 0.98 | 1.01 |
| Diluted EPS | -0.44 | -0.03 | 0.89 | 0.92 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.14 | 0.21 | 0.21 | 0.22 |
| Total Unusual Items | 0 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -11.94 | -0.91 | 28.66 | 32.18 |
| Reconciled Depreciation | 3.89 | 4.72 | 5.80 | 6.89 |
| Reconciled Cost Of Revenue | 51.53 | 55.48 | 103.39 | 152.18 |
| Net Interest Income | -0.01 | -0.18 | 0.15 | 1.55 |
| Net Income From Continuing And Discontinued Operation | -11.94 | -0.91 | 28.66 | 32.18 |
| Total Operating Income As Reported | -10.48 | 0 | 0 | 0 |
| Diluted Average Shares | 27.28 | 28.13 | 32.18 | 35.02 |
| Basic Average Shares | 27.28 | 28.13 | 29.16 | 31.81 |
| Diluted NI Availto Com Stockholders | -11.94 | -0.91 | 28.66 | 32.18 |
| Minority Interests | 0.07 | -0.02 | -0.01 | 0 |
| Net Income Including Noncontrolling Interests | -12.01 | -0.89 | 28.68 | 32.18 |
| Net Income Continuous Operations | -12.01 | -0.89 | 28.68 | 32.18 |
| Other Income Expense | 0 | 0 | 0 | 0 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Other Special Charges | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -0.01 | -0.18 | 0.15 | 1.55 |
| Total Other Finance Cost | 0.01 | 0.18 | -0.15 | 0 |
| Interest Expense Non Operating | 0.01 | 0.18 | 0 | 0 |
| Interest Income Non Operating | 0 | 0 | 0.15 | 1.55 |
| Operating Revenue | 79 | 86.78 | 170.46 | 251.66 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Innodata Inc.this co. | INOD | $1.3B | 43.42 | 12.06 | 30.1% | 28.64 |
| ADTRAN Holdings, Inc. | ADTN | $1.4B | - | 9.20 | -8.8% | 24.29 |
| VIA | VIA | $1.3B | - | 1.99 | -15.4% | -13.23 |
| Five9, Inc. | FIVN | $1.3B | 37.89 | 1.67 | 5.0% | 13.22 |
| C3.ai, Inc. | AI | $1.3B | - | 1.78 | -34.4% |
| -1.60 |
| Sprinklr, Inc. | CXM | $1.3B | 54.54 | 2.11 | 3.9% | 14.89 |
| Allient Inc. | ALNT | $1.3B | 56.00 | 4.15 | - | 19.25 |
| Arteris, Inc. | AIP | $1.2B | - | -81.66 | 237.5% | -39.66 |
| Shoals Technologies Group, Inc. | SHLS | $1.2B | 36.70 | 2.05 | 5.6% | 15.82 |
| Peer Median | - | 46.22 | 2.02 | 3.9% | 14.05 | |