Innodata Inc.
Innodata Reports 66% Year-over-Year Revenue Growth for Q2 2024
Summary
Innodata Inc. reported a 66% year-over-year increase in revenue for the second quarter of 2024, reaching $32.6 million. The company also saw a significant increase in Adjusted EBITDA of 76% year-over-year to $2.8 million. Despite reporting a net loss per share of $0.00 for the quarter, Innodata raised its full-year revenue growth guidance to 60% or more, reflecting strong operational performance and new customer wins, including substantial expansions with its Big Tech customers.
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About Innodata Inc.
Innodata Inc. is a firm specializing in digital data transformation, offering essential services in content design, AI operations, and information management. The core purpose of Innodata is to assist organizations with leveraging technology to convert complex information and unstructured data into actionable insights and digitally accessible content. Its services extend across various industries, including publishing, finance, technology, healthcare, and legal sectors. With its diverse suite of solutions, Innodata empowers clients to streamline processes, automate data-intensive workflows, and enhance operational efficiencies. Within the financial market, Innodata plays a significant role by providing infrastructure and data management tools that fuel digital innovation, supporting organizations to adapt to the data-driven demands of contemporary business environments. Founded in 1988, the company is headquartered in Ridgefield Park, New Jersey, and continues to expand its technological footprint, helping to shape the landscape of digital information management for an increasingly interconnected world.
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