Innodata share rises to all-time high and reaches USD 49.84. $INOD (+2%)
Looking ahead, the company is focused on generative AI and data science services for large technology companies and plans to expand relationships with seven major customers and increase federal government engagement.
Innodata Inc (INOD) has reached a notable milestone, with its share price rising to an all-time high of $49.84. The company, now valued at $1.39 billion, has shown impressive revenue growth of 72% over the last twelve months, with InvestingPro data showing a robust financial health score of "OUTSTANDING." This significant performance reflects a staggering 445.29% increase over the past year and marks a period of exceptional growth for the company. Investors have shown increasing confidence in Innodata's business model and future prospects, as evidenced by the impressive rise in the share price to this record level. The company's strategic initiatives and market performance have clearly resonated with the market, culminating in this all-time high. According to InvestingPro's analysis, while the stock appears overvalued at current levels, subscribers have access to 21 additional investment insights, including detailed valuation metrics and growth forecasts in the comprehensive Pro Research Report.
In other recent news, Innodata reported record third quarter revenue of $52 million, a significant increase of 136% year-over-year. This substantial growth was largely due to a $30.6 million revenue contribution from a single Big Tech customer and expanded federal government engagements. The company's adjusted EBITDA reached $13.9 million, representing 27% of revenue. Innodata also raised its full-year 2024 revenue guidance to $52 million to $55 million, representing expected growth of 88% to 92%.
In addition to these financial highlights, Innodata increased its cash reserves to $26.4 million, $10 million more than the previous quarter. The company also received SEC approval for a $50 million securities offering, although there are no immediate plans to raise funds. These recent developments reflect robust business momentum for Innodata, with strong expectations for continued growth in the final quarter and in the coming year.
