Innodata Reports First Quarter 2025 Results with Revenue up 120% Year-Over-Year and Reaffirms Growth Guidance of 40% or more for 2025

About this update from Innodata Inc.

[{"type":"text","content":"NEW YORK, NY / ACCESS Newswire / May 8, 2025 / INNODATA INC. (Nasdaq:INOD) today reported results for the first quarter ended March 31, 2025.Revenue of $58.3 million, representing 120% revenue growth year-over-year.Adjusted EBITDA of $12.7 million, an increase of $8.9 million from $3.8 million in the same period last year.*Net income of $7.8 million, or $0.25 per basic share and $0.22 per diluted share, compared to a net income of $1.0 million, or $0.03 per basic and diluted share, in the same period last year.Cash, cash equivalents and short-term investments were $56.6 million as of March 31, 2025 and $46.9 million as of December 31, 2024.* Adjusted EBITDA is defined below.Jack Abuhoff, CEO, said, \"We had a strong start to the year. We're being onboarded by potential major new customers, expanding existing relationships, and building a pipeline that's deeper and more advanced than at any point in our history. We are bringing ideas and innovation to our customers that are being well received. We believe the breadth of activity across our business illustrates strong momentum that positions us for continued strong performance.Specifically, we draw investors' attention to several important factors that we believe demonstrate the accelerating growth in our business:Expanding Relationships with Existing Customers. Today we signed a second master statement of work with our largest customer enabling them to utilize our capabilities in a distinct budget category within their organization - separate from the budget that supports our existing engagements. We believe this new budget is materially larger. In addition, four of our other Big Tech customers have awarded us engagements that we value at approximately $8 million, and we are in discussions with five of our other Big Tech customers that we believe are likely to result in more than $30 million of awards in the near term.New Customer Acquisition. We are in the process of being onboarded by a number of potentially significant customers. This includes one of the world's largest and most respected enterprise technology providers; one of the world's leading cloud software companies; a technology conglomerate that operates one of the world's largest digital commerce ecosystems; and a global healthcare technology company.Strategic Alignment. We believe we are aligned strategically to supp...

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