Business
Innodata Reports Third Quarter 2021 Results
Revenue Up 20% Year-Over-YearAI-Based Solutions and Industry Platforms Driving GrowthNEW YORK, NY / ACCESSWIRE / November 4, 2021 / INNODATA INC.
About this update from Innodata Inc.
[{"type":"text","content":"Revenue Up 20% Year-Over-YearAI-Based Solutions and Industry Platforms Driving GrowthNEW YORK, NY / ACCESSWIRE / November 4, 2021 / INNODATA INC. (NASDAQ:INOD) today reported results for the third quarter ended September 30, 2021.Revenue for the quarter ended September 30, 2021 was $17.5 million, up 20% year-over-year.Net loss for the quarter ended September 30, 2021 was $0.8 million, or $0.03 per basic and diluted share, compared to a net income of $0.2 million, or $0.01 per basic and diluted share, in the same period last year.Revenue for the nine months ended September 30, 2021 was $50.5 million, up 18% year-over-year.Net loss for the first nine months of 2021 was $0.5 million, or $0.02 per basic and diluted share, compared to a net loss of $0.6 million, or $0.02 per basic and diluted share, in the same period last year.Cash and cash equivalents were $20.9 million at September 30, 2021, up from $17.6 million at December 31, 2020.Amounts in this press release have been rounded. All percentages have been calculated using unrounded amounts.Jack Abuhoff, CEO, said, \"Today we're pleased to announce that we achieved 20% revenue growth in Q3 year-over-year. More importantly, we anticipate this growth to accelerate in Q4 and into next year. Our confidence stems from the new deals we're signing, the traction we're getting in the market with both existing and new AI solutions and platforms, the productivity ramp-up we're anticipating from our expanding sales force, and current and anticipated continuing expansion of several of our key new customer relationships.\"Timing of Conference Call with Q&AInnodata will conduct an earnings conference call, including a question-and-answer period, at 11:00 AM eastern time today. You can participate in this call by dialing the following call-in numbers:The call-in numbers for the conference call are:1-800-367-2403 (Domestic)1-334-777-6978 (International)1-888-203-1112 (Domestic Replay) 1-719-457-0820 (International Replay)Passcode on both: 5102285It is recommended that participants dial in approximately 10 minutes prior to the start of the call. Investors are also invited to access a live Webcast of the conference call at the Investor Relations section of www.innodata.com. Please note that the Webcast feature will be in listen-only mode.Call-in or Webcast replay will be available for 30 days follo...