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NEW YORK - Innodata Inc. (NASDAQ:INOD), a global data engineering company, released its first-quarter financial results, revealing a significant year-over-year revenue increase of 120%, with figures reaching $58.3 million. The company also reported a substantial rise in adjusted EBITDA to $12.7 million, up from $3.8 million in the previous year.
Net income for the quarter stood at $7.8 million, or $0.25 per basic share and $0.22 per diluted share, a considerable improvement from the $1.0 million, or $0.03 per basic and diluted share, reported in the same period of 2024. Innodata’s financial position was further strengthened by an increase in cash, cash equivalents, and short-term investments, which amounted to $56.6 million as of March 31, 2025, compared to $46.9 million at the end of the previous year.
The company’s CEO, Jack Abuhoff, expressed confidence in Innodata’s growth trajectory, citing new customer acquisitions, expanding relationships with existing clients, and strategic alignment with the generative AI industry as key factors contributing to the company’s strong performance. Innodata has signed a second master statement of work with its largest customer and is in discussions for engagements potentially worth over $30 million with other significant tech companies.
Abuhoff also highlighted the company’s plans to reinvest a portion of its cash from operations back into the business, with a focus on technology investments and strategic hiring to support AI initiatives. Despite this, Innodata reaffirms its guidance of at least 40% revenue growth for 2025.
Innodata believes that its business prospects are not significantly affected by short-term business cycles or trade policies, and expects to benefit from AI-driven capital expenditure among major tech companies.
The company’s earnings conference call, including a question-and-answer session, is scheduled for 5:00 PM Eastern Time today. Interested parties can participate in the call or access a live webcast on Innodata’s investor relations website.
The information disclosed in this article is based on a press release statement from Innodata Inc. and is intended to provide investors with an overview of the company’s financial performance and strategic direction.
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