Innodata Q1 revenue up 41% to $26.5M; raises 2024 growth guidance to at least 40%

INNODATA INC

2024-Q1 EPS reported $0.03 revenue$26,504,000

Q1 revenue $26.5M (+41% YoY); net income $1.0M vs loss of $2.1M YoY.
Adjusted EBITDA $3.8M vs $0.8M YoY; cash $19M vs $13.8M at Dec 2023.
New program expansion with Magnificent Seven customer valued at ~$23.5M annualized run rate.
Signed two new Big Tech customers; now agreements with seven Big Tech firms on gen AI initiatives.
Raised 2024 organic revenue growth guidance from 20% to at least 40%; expects substantial sequential Q2 increase.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INNODATA INC reported first quarter ended March 31, 2024 results: revenue $26.5 million, net income $1.0 million, or $0.03 per basic and diluted share. Guidance raised.

Period: first quarter ended March 31, 2024
Revenue: $26.5 million
Net income: $1.0 million, or $0.03 per basic and diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Least 40% Organic Revenue Growth in 2024 NEW YORK – May 7, 2024 – INNODATA INC. (Nasdaq: INOD) today reported results for the first quarter ended March 31, 2024. · Revenue was $26.5 million, up 41% from $18.8 million in the same period last year. · Net income was $1.0 million, or $0.03 per basic and diluted share, compared to a net loss of $(2.1) million, or $(0.08)

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Source: SEC EDGAR

accession 0001104659-24-058055

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