Welcome to our dedicated page for Innodata news (Ticker: INOD), a resource for investors and traders seeking the latest updates and insights on Innodata stock.
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) announces the opening of nominations for the 2022 Bulldog PR Awards starting February 1, 2022. This awards program recognizes exceptional PR and communications campaigns, judged solely by journalists. Nominations for Tier 1 submissions will be accepted until March 1, 2022, while the awards close on April 29, 2022. Five new categories have been added, bringing the total to 61. Winners will gain recognition and promotion across Bulldog PR platforms. Innodata is known for its data engineering solutions, leveraging AI and machine learning to address major data challenges.
Innodata Inc. (NASDAQ:INOD) has launched a new Applied AI practice led by Ed Funaro, who brings 35 years of experience in technology leadership, including his role as Chief Revenue Officer at Cloud Sherpas. The practice aims to assist companies in insurance, healthcare, and finance with digital transformation through AI, leveraging a new customer-facing SaaS platform expected to launch in H1 2022. This initiative aligns with Innodata's goal to enhance operational efficiency and data-driven decision-making for its clients.
Innodata Inc. (NASDAQ:INOD) announced a significant expansion of services by a Fortune 500 insurance company, adding approximately $700,000 in anticipated one-time revenue. This is in addition to previously announced estimates of $3 million in one-time revenue and $800,000 per year in ongoing revenue. The expansion is aimed at supporting the company's medical record predictive model development, showcasing the effectiveness of Innodata's AI training data derived from medical records, which adhere to strict security and HIPAA protocols.
Innodata Inc. (NASDAQ:INOD) reaffirmed its growth outlook at the Annual Needham Growth Conference, highlighting an anticipated acceleration in year-over-year revenue growth for Q4 2021 and 2022. The company reported a 20% increase in revenue year-over-year for Q3 2021. CEO Jack Abuhoff will engage in one-on-one discussions with investors following the presentation. Investors can access the presentation materials on the company’s investor relations page. Innodata specializes in data engineering, leveraging advanced machine learning and AI technologies.
Innodata Inc. (NASDAQ:INOD) announced that its AI platform, Agility, has been recognized as a "momentum leader" in media and influencer targeting by software review site G2 for the third consecutive time. This recognition, based on user satisfaction and adoption rates, reflects Agility's effective media monitoring and outreach capabilities. The company aims to expand its market share in 2022, supported by a six-fold increase in its business development team, to enhance customer experience and accelerate growth.
Innodata Inc. (NASDAQ:INOD) will participate in the Needham Growth Conference from January 10-14, 2022. CEO Jack Abuhoff is scheduled to present on January 10 at 4:15 p.m. EST and will hold virtual one-on-one meetings with investors throughout the event. Innodata is recognized for its expertise in data engineering, leveraging advanced machine learning and artificial intelligence technologies, with a dedicated workforce of over 3,500 experts. For more details, visit www.innodata.com.
Innodata Inc. (NASDAQ: INOD) reported a 20% increase in revenue for Q3 2021, totaling $17.5 million compared to the same period last year. However, the company faced a net loss of $0.8 million, reflecting a shift from a net income of $0.2 million year-over-year. For the first nine months of 2021, revenue rose 18% to $50.5 million, with a slight improvement in net loss. Cash reserves increased to $20.9 million. CEO Jack Abuhoff expressed optimism for future growth driven by new deals and key customer relationships.
Innodata Inc (NASDAQ:INOD) has launched its Data Annotation Platform, a SaaS solution aimed at reducing costs and improving accuracy in AI/ML projects. The platform offers seamless workflows, customizable workbenches, real-time KPIs, and auto annotation features to enhance productivity for data scientists. With the data annotation tools market projected to exceed $7 billion by 2027, Innodata aims to meet the growing demand for efficient data management solutions.
Innodata Inc. (NASDAQ:INOD) will announce its Third Quarter 2021 results before the market opens on November 4, 2021. A news release will be accessible on the Innodata website. The company has scheduled an investor conference call at 11:00 AM ET on the same day, with call-in numbers provided for both domestic and international participants. A live Webcast will also be available in listen-only mode. Replays can be accessed for 30 days after the call. Innodata specializes in data engineering, leveraging advanced ML/AI technologies and a global workforce.
Innodata Inc (NASDAQ:INOD) announced its provision of AI data annotation services to a second Silicon Valley tech giant, following a previously expanded relationship with a social media platform. The agreement is projected to generate approximately $1.8 million in revenue, with around $700,000 classified as recurring revenue. CEO Jack Abuhoff emphasized the company's competitive edge in providing end-to-end solutions that enhance AI model performance across multiple sectors, including content moderation and health records management.
FAQ
What is the current stock price of Innodata (INOD)?
What is the market cap of Innodata (INOD)?
What does Innodata Inc. do?
What are the core business segments of Innodata?
What recent achievements has Innodata Inc. reported?
How is Innodata leveraging AI in its services?
Who are the primary customers of Innodata?
What financial growth did Innodata report for Q1 2024?
Where does Innodata operate geographically?
What is the Agility PR Solutions platform?
How many employees does Innodata have?
Where can I find more information about Innodata?
