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โข GAAP EPS: $0.29 (Normalized Est. $0.27, not directly comparable), vs. $0.24 YoY.
โข Revenue: $95.6M (Est. $84.42M) โ , +53% YoY.
โข Net Income: $10.3M, +24% YoY.
โข Adjusted EBITDA: $17.7M, +9% YoY.
โข Adjusted EBITDA Margin: 18.5%.
โข Adjusted Gross Profit: $38.3M.
โข Adjusted Gross Margin: 40%.
โข Cash & Equivalents: $164M.
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๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข FY2026 Revenue Growth: โฅ42% YoY, raised from โฅ40%.
โข FY2027 New Hyperscaler Customer Revenue: >$20M expected.
โข FY2027 Physical AI Pilot Opportunity: ~$7M, conditional on successful conversion.
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Q3 revenue exceeded the supplied $84.42M consensus by ~13.2%; management cited a ~15% beat against its own consensus reference.
โข Reported its 13th consecutive quarter of YoY revenue growth.
โข Adjusted EBITDA beat management's cited consensus by ~15%.
โข A customer representing less than 5% of revenue a year ago became Innodata's largest customer in Q3, improving diversification across two major accounts.
โข Signed an additional ~$18M program with that customer in Q4.
โข Won five new programs with another major hyperscaler, with revenue expected to exceed $20M in 2027.
โข Added five new customer logos, including AI model developers and an enterprise data platform.
โข Launched a motion capture lab for humanoid robotics and world model training, with pilots underway at frontier and robotics labs.
โข Secured a verbal federal contract win valued at ~$5M annually for five years, with signing expected in Q4.
โข FY2026 guidance increased despite the wind-down of an existing customer program, with replacement programs expected in Q1.
โข Cash excluding customer prepayments totaled approximately $153.7M.
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โWe believe we are positioned at the center of the most important transition in AI - the move to agents, reinforcement learning and embodied intelligence.โ
