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NEW YORK - Innodata Inc. (NASDAQ:INOD) saw its shares jump 9.1% after the AI services company reported fourth-quarter earnings and revenue that surpassed analyst expectations, while also providing an optimistic outlook for 2025.
The company posted adjusted earnings per share of $0.34 for the fourth quarter, beating the analyst estimate of $0.21. Revenue soared 127% YoY to $59.2 million, exceeding the consensus forecast of $52.98 million.
Innodata’s CEO Jack Abuhoff highlighted the company’s strong performance, stating, "Q4 was a record quarter and 2024 was a record year. Our Q4 revenues of $59.2 million were well above the high end of our Q4 revenue guidance of $52-$55 million."
Looking ahead, the company provided an upbeat outlook for 2025, forecasting revenue growth of 40% or more. Abuhoff noted, "We are forecasting 40% or more revenue growth in 2025 based primarily on won deals and near-in, forecastable business. We anticipate updating this guidance through the course of the year, much as we did in 2024."
The company reported significant expansion with its largest customer, with recent awards increasing the annualized run rate revenue to approximately $135 million. Additionally, Innodata saw aggregate revenues from seven other Big Tech customers grow by 159% in Q4 compared to Q3 2024.
Innodata ended the year with a strong balance sheet, reporting $46.9 million in cash and an undrawn $30 million credit facility.
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