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) has launched a new podcast titled Absolute AI, focusing on conversations with AI innovators. The podcast, hosted by Melody Travers, aims to shed light on the complexities of AI in society, addressing topics such as Responsible AI and data governance. Its first episode, Fixing the World One Startup at a Time, is available now, with new episodes airing bi-weekly. Rahul Singhal, Chief Product Officer, emphasizes the need for demystifying AI to fully utilize its benefits. The podcast can be accessed on platforms like Spotify and Apple Podcasts.
Innodata Inc. (NASDAQ:INOD) has secured a five-year contract with a major bank to deliver AI-driven data feeds and an analytics platform. This contract is expected to generate approximately $2 million per year in subscription revenue for the first two years, followed by about $2.4 million annually thereafter, totaling around $11 million over the contract's duration. The CEO highlighted the importance of intelligent document processing in addressing complex data challenges, positioning Innodata to establish a robust industry solution while gaining insights into the banking sector's needs.
Innodata Inc. (NASDAQ:INOD) announced new AI-enhanced features for its Agility platform aimed at public relations professionals. The update promises improved media coverage, user experience, and operational efficiency. Notable changes include AI-driven workflows for content creation and media targeting, enriched media profiles, and a news release assistant to boost open rates. Testing indicates a 57% reduction in time spent on tasks, enhancing ROI for Agility subscribers. G2 has recognized Agility as a 'momentum leader' in the PR software market valued at $4.5 billion.
Innodata Inc. (NASDAQ:INOD) announced the expansion of its AI data annotation capabilities to include patient medical records and secured a $3 million contract with a Fortune 500 insurance company for predictive model development. The ongoing revenue is projected at $800,000 annually. The new platform integrates HIPAA-compliant AI data annotation and extraction capabilities, preparing for the anticipated $62 billion AI-related healthcare market by 2027. CEO Jack Abuhoff emphasized the importance of overcoming data challenges to scale AI in healthcare.
Innodata Inc (NASDAQ:INOD) announced that its AI-enabled platform, Agility, was named a 'momentum leader' in media and influencer targeting, media monitoring, and PR analytics by G2 in their Fall 2021 report. This recognition is based on customer satisfaction and user adoption trends. CEO Jack Abuhoff highlighted plans to scale the sales team from 10 to 95 by year-end, underscoring significant growth potential in the $4.5 billion public relations software market. Agility is a SaaS platform beneficial for public relations professionals.
Innodata Inc. (NASDAQ:INOD) announced its participation in the H.C. Wainwright 23rd Annual Global Investment Conference, taking place virtually from September 13-15, 2021. CEO Jack Abuhoff will present the company's business overview and hold one-on-one meetings with institutional investors on September 14 and 15. Investors can register to attend and request meetings via the conference website. Innodata is recognized for helping global firms tackle data challenges using advanced machine learning and AI technologies.
Innodata (NASDAQ: INOD) reported a 23% increase in revenue for Q2 2021, totaling $17.0 million, compared to the same quarter last year. The net loss narrowed to $0.1 million, improving from a loss of $0.5 million in Q2 2020. For the first half of 2021, revenue was $33.0 million, up 16% year-over-year. Cash reserves rose to $22.1 million. CEO Jack Abuhoff expressed optimism for continued growth driven by strong bookings and efficient operations, with projected annual growth exceeding 20% in upcoming quarters.
Innodata Inc. (NASDAQ:INOD) will announce its Second Quarter 2021 results on August 5, 2021, before market opening. The announcement will be accessible on their website, specifically in the News and Investor Relations sections.
Additionally, an investor conference call is scheduled for 11:00 AM ET on the same day, with various call-in numbers and a live Webcast available.
Investors can access the replay for 30 days post-call. Innodata specializes in data engineering, utilizing advanced machine learning and AI technologies.
Innodata Inc. (NASDAQ:INOD) has been invited to present at the Needham Virtual Technology & Media Conference on May 19, 2021. CEO Jack Abuhoff will present at 3:45 p.m. EST and will also hold virtual one-on-one meetings with investors. Innodata is a prominent data engineering firm that leverages advanced machine learning and artificial intelligence technologies, supported by a global team of over 3,500 experts. The company addresses significant data challenges for organizations worldwide.
Agility PR Solutions, a subsidiary of Innodata (NASDAQ: INOD), announces its enhanced media monitoring platform now includes global podcast monitoring in six languages. This innovation allows brands to target podcasts effectively and monitor related media mentions. The podcasting industry is projected to reach $1 billion in 2021. This integration with Agility's existing media database of over 1 million contacts positions Agility to exploit the growing demand for podcast-based advertising.
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