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Innodata Inc. (NASDAQ: INOD) is a global leader in digital services and solutions. Founded in 1988, Innodata has grown into a powerhouse, providing cutting-edge technology and services that drive performance for prestigious enterprises across various industries. These include publishers, media and information companies, digital retailers, banks, insurance companies, and government agencies, among others.
Innodata's core business is divided into three primary segments: Digital Data Solutions, Synodex, and Agility. The Digital Data Solutions segment helps organizations harness digital data to reimagine operations and drive performance. Synodex focuses on transforming unstructured data into structured formats for the insurance and healthcare industries. The Agility segment offers innovative PR and media intelligence solutions, streamlining media monitoring, outreach, and analysis through its Agility PR Solutions platform.
Recently, Innodata has achieved significant milestones. In Q4 2023, the company reported a 35% year-over-year revenue growth, driven by strong customer demand for generative AI services. The company secured a three-year deal with a major tech company, valued at approximately $69 million over three years. This was followed by multiple new program awards and expansions with its 'Magnificent Seven' Big Tech customers, propelling Innodata's market position and revenue growth.
Innodata's technological prowess is showcased through its AI-enabled software platforms and managed services for AI data collection, annotation, digital transformation, and industry-specific business processes. The company's low-code Innodata AI technology platform lies at the heart of its offerings, ensuring scalability and efficiency.
Financially, Innodata is in a strong position, reporting record revenues of $26.5 million in Q1 2024, marking a 41% year-over-year growth. The company has raised its 2024 revenue guidance to at least 40% organic growth, driven by its robust business momentum and strategic investments in sales, marketing, and product development.
Innodata continues to innovate, recently releasing its Intelligent Insights feature within the Agility PR platform, leveraging generative AI to enhance media intelligence capabilities. The company also introduced an open-source LLM Evaluation Toolkit, aiding enterprises in evaluating the safety of their Large Language Models (LLMs) across multiple harm categories.
With a team of 5,000 diverse professionals across eight countries, Innodata remains dedicated to delivering unparalleled services and solutions. Recognized as an industry leader in knowledge process outsourcing and publishing services, Innodata was named to the Global Outsourcing 100 list and several top ten categories by the International Association of Outsourcing Professionals.
For more information about Innodata and its innovative solutions, visit their website.
Innodata Inc. (NASDAQ: INOD) has announced its 2023 annual meeting of shareholders will take place on June 8, 2023, at 5:00 PM ET, in a virtual format. Shareholders recorded as of the close of business on April 12, 2023, will have the opportunity to vote. Innodata is a data engineering firm providing AI-enabled software and managed services, focusing on AI data collection and digital transformation, backed by over 30 years of experience.
Innodata (NASDAQ:INOD) reported a 13% year-over-year revenue increase, totaling $79 million for 2022. Q4 revenue was $19.4 million, slightly higher than the prior year. Adjusted EBITDA turned positive at $250K in Q4, though the company faced a $12 million net loss for the year. Key developments include a strong pipeline in generative AI, particularly with major tech firms, and significant growth in its Agility and Synodex platforms. Agility direct sales bookings surged 83% year-over-year, while Synodex revenue rose 71%. CEO Jack Abuhoff emphasized optimism about expanding Adjusted EBITDA to over $10 million in 2023 amidst rising AI market opportunities.
Innodata Inc. (NASDAQ: INOD) announced significant adoption of its PR CoPilot™, a generative AI tool launched in January as part of the Agility PR platform. Users report dramatic improvements in press release creation, reducing drafting time from hours to under two minutes. The tool helps PR professionals enhance productivity, personalize outreach, and align messaging with client branding. With ongoing interest from both Agility and non-Agility customers, Innodata anticipates further enhancements in its version 2.0, expected in March. The product leverages proprietary technology and OpenAI's GPT models, establishing itself as a leader in AI-assisted PR solutions.
Innodata Inc. (NASDAQ:INOD) will report its Fourth Quarter and Fiscal Year 2022 results on February 23, 2023, after market closure. Investors can access the results via the company's website. An investor conference call will follow at 5:00 PM ET, with a replay available for 30 days. Innodata specializes in data engineering, offering AI-enabled software and services aimed at data collection and annotation for major corporations. The press release emphasizes the company's 30-year legacy in providing quality data and services while also containing forward-looking statements about future business conditions and risks.
Innodata Inc (NASDAQ:INOD) announced a significant application re-engineering agreement to enhance a customer's use of its AI/ML models. This expansion builds on a previous cloud migration deal, allowing the customer to replace legacy systems used for tracking financial deals across 33 markets with AI-enabled applications. CEO Jack Abuhoff highlighted the partnership's success in driving digital transformation, increasing productivity, and automating routine functions. The company continues to focus on AI-driven solutions and cloud architectures, positioning itself for future growth.
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