Innodata reports Q3 revenue $22.2M (+20% YoY), net income $0.4M, signs new big tech for GenAI

INNODATA INC

2023-Q3 EPS reported -$0.09 revenue$60,663,000

Net income $0.4M ($0.01/shr) vs net loss $3.3M (-$0.12/shr) in Q3 2022.
Adjusted EBITDA $3.2M, up from -$1.2M YoY; cash & short-term investments $14.8M.
Q4 revenue forecast $24.5M+ (≥26% YoY); Adj. EBITDA guidance $3.7M+ (~15x YoY).
Signed master services agreement with another large tech company for generative AI development.
GenAI work with new Big Five customers ramping; potential $23-$25M runrate from one by year-end.

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 0.9

INNODATA INC reported the nine months ended September 30, 2023 results: revenue $60.7 million, net income Net loss for the nine months ended September 30, 2023 was $2.6 million, or $0.09 per basic and diluted share.

Period: the nine months ended September 30, 2023
Revenue: $60.7 million
Net income: Net loss for the nine months ended September 30, 2023 was $2.6 million, or $0.09 per basic and diluted share
Result: reported results

Exact text from the filing

share, compared to a net loss of $3.3 million, or $0.12 per basic and diluted share, in the same period last year. · Revenue for the nine months ended September 30, 2023 was $60.7 million, compared to revenue of $59.6 million in the same period last year. The comparative period included $7.9 million in revenue from the large social media company referenced

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INNODATA INC reported the third quarter ended September 30, 2023 results: revenue $22.2 million, net income $0.4 million, or $0.01 per basic and diluted share.

Period: the third quarter ended September 30, 2023
Revenue: $22.2 million
Net income: $0.4 million, or $0.01 per basic and diluted share
Result: reported results

Exact text from the filing

– November 2, 2023 – INNODATA INC. (NASDAQ:INOD) today reported results for the third quarter ended September 30, 2023. · Revenue for the quarter ended September 30, 2023 was $22.2 million, up 20% year over year. The comparative period included $1.0 million in revenue from the large social media company that underwent a significant management change in the second

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Source: SEC EDGAR

accession 0001104659-23-113873

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