Innodata Q2 revenue $32.6M (+66% YoY); raises FY2024 growth guidance to 60%+

INNODATA INC

2024-Q2 EPS reported $0.03 revenue$59,057,000

Revenue of $32.6M, up 66% YoY; EPS $0.00 vs $(0.03) loss in prior year.
Adjusted EBITDA $2.8M, +76% YoY; recruiting costs of $3.6M weighed on margins.
Awarded ~$87.5M in annualized run-rate LLM programs from a Big Tech customer.
Guides FY2024 revenue growth of 60%+; Q3 adjusted EBITDA expected to triple Q2.
Increased Wells Fargo credit facility from $10M to $30M; filed $50M shelf registration.

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