Innodata Q2 revenue up 17% to $20M; net loss widens to $3.8M; lowers full-year growth guidance to 15-20%

INNODATA INC

2022-Q2 EPS reported -$0.24 revenue$41,179,000

Revenue $20.0M (+17% YoY), net loss $3.8M ($0.14/share) vs net loss $0.1M in Q2 2021.
Adjusted EBITDA loss $1.3M vs positive $0.7M last year; cash $10.5M (down from $18.9M at Dec 2021).
CEO: contract change replaced $3.7M one-time project with ~$1.8M/year recurring revenue; reduced Q2/Q3 revenue by ~$2.3M.
Q3 2022 revenue expected ~$18M; full-year growth guidance revised to 15-20% from prior 30% target.
Added 115 new logos in Q2 (24% increase over avg quarterly additions in 2021); signed largest SOW with Big Five tech company.

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