Innodata Q1 revenue $18.8M, net loss $2.1M; announces generative AI deals with three top tech firms

INNODATA INC

2023-Q1 EPS reported -$0.08 revenue$18,839,000

Revenue $18.8M vs $21.2M YoY; prior year included $4.4M from a large social media client that pulled back.
Net loss $2.1M ($0.08/share) vs $2.8M ($0.10/share) YoY; Adjusted EBITDA $0.8M vs -$1.0M YoY.
Selected for generative AI data engineering by two of top 5 global tech firms; a third likely, with framework agreements.
One new customer indicated initial $2.5M PO; potential $12M quarterly revenue at maturity if scope fully realized.
Cash and short-term investments $10.8M; no debt; expects exiting 2023 revenue growth in high teens and $15M+ annualized EBITDA.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INNODATA INC reported the first quarter ended March 31, 2023 results: revenue $18.8 million, net income $2.1 million, EPS $0.08 per basic and diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $18.8 million
Net income: $2.1 million
EPS: $0.08 per basic and diluted share
Result: reported results

Exact text from the filing

Revenue for the quarter ended March 31, 2023 was $18.8 million, compared to revenue of $21.2 million in the same period last year. The comparative period included $4.4 million in revenue from a large social media company that underwent a significant management change in the second half of last year, as a result of which it dramatically pulled back spending across the board. There was no revenue from this company in the quarter ended March 31, 2023. • Net loss for the quarter ended March 31, 2023 was $2.1 million, or $0.08 per basic and diluted share, compared to a net loss of $2.8 million, or $0.10 per basic and diluted share, in the same period last year.

View on SEC.gov

Browse all earnings releases →

INNODATA INC filing history →

Source: SEC EDGAR

accession 0001104659-23-059239

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.